Kincora Copper Ltd. (CVE:KCC) said on Thursday that copper-gold porphyry mineralisation at Bayan Tal is confirmed within a large scale Devonian “Oyu Tolgoi style” complex supporting priority drilling.
The news follows hot on the heels this month that Kincora reported the successful closing of the IBEX transaction. Read more.
The company said that there were geological and geophysical activities ongoing to progress other large scale, shallow to moderate depth targets and advance a unique portfolio along the value curve.
The exploration strategy has been refined to replicate the systematic approach successfully applied in discovering similar profile Tier 1 gold rich copper porphyry discoveries.
A comprehensive workshop and field visit was concluded in September, including the Technical Committee, industry leading specialists and geologists with extensive recent experience in the gold rich Southern Mongolian copper belt. The workshop identified priority targets and built out a pipeline of regional prospects focused on the following key attributes:
Scale: Kincora’s portfolio supports the advancement of potential Oyu Tolgoi and Tsagaan Suvarga (Devonian) analogues, and/or traditional gold rich finger type porphyries. Exploration activities currently are focused on replicating systematic and proven techniques that have been successful at other similar profile targets, including the Tier 1 copper-gold discoveries that the Technical Team has prior experience with.
Shallow targets: The focus is targets on the margins of half grabens and/or uplifted fault blocks where outcrop or subcrop provides a geological window to support integration of geophysical datasets to de-risk exploration.
Multi-target, multi-stage pipeline with exploration ongoing.
“Location, team and targets are the key ingredients for a successful exploration play. Since closing the IBEX transaction we have started outlining key positive developments on these fronts that differentiate and positions Kincora well moving forward, with systematic exploration advancing our targets up the value curve,” said Sam Spring, President & CEO of Kincora.
“We are excited by the targets identified at Bayan Tal, which is an extensively mineralized system, with distal copper-gold porphyry returned along its southern margin. Recent activities have confirmed similar Devonian stratigraphy to Oyu Tolgoi, the first target since with such attributes that we are aware of. Advancements in geology and geophysics support multiple drill ready targets at Bayan Tal, which is one of the best candidates for a new Tier 1 porphyry discovery in the Southern Gobi,” he added.
Story by ProactiveInvestors