Kincora Copper Limited (“Kincora“) is a mining exploration and development company focused on copper and gold deposits in Mongolia. Its key asset is the Bronze Fox (Buyant License) copper-gold deposit located in southeast Mongolia. Bronze Fox, which occupies 223km2 of land, is located 140km northeast of the world-class Oyu Tolgoi copper-gold project on the same metallogenic belt and approximately 250km from the Chinese border. In March 2012, Kincora acquired two adjacent licenses, Tourmaline Hills and North Fox, with a total area of 247km2 and 152km2 respectively.
Kincora carried out a substantial amount of exploration work over 2011 and has found significant copper and gold mineralization across the explored license area. Kincora drilled 23 holes in 2011 to a total depth of 12,435m. It has also completed a soil sampling exercise over the area at a grid of 200m and a rock chip sampling exercise at 2m intervals.
Continuous copper mineralization has been discovered in many drill holes, it is open at depth and in most directions. A significant intersection from the surface of +0.5% CuEq demonstrates the potential for further drilling to validate the economic viability for a shallow open pit mine. Rock chip sampling has also shown a very high grade of gold (up to 93g/t).