- Maiden drilling program commenced on the western margins of the Ulgii Khud massif for up to 2000 metres
- In the Southern Gobi, Paleozoic volcanic and intrusive rocks that could host porphyry Cu-(Au-Mo) deposits outcrop as
massifs, surrounded by Mesozoic sedimentary basins
- The Ulgii Khud massif is located between the two defined Late Devonian and economic porphyry deposits: Oyu Tolgoi
and Tsagaan Suvarga
- Historic Ivanhoe samples on limited areas of outcrop of the Ulgii Khud massif support a potentially concealed
copper-gold mineralized system
VANCOUVER, Oct. 24, 2017 /CNW/ - Kincora Copper Ltd. (the
"Company", "Kincora") (TSXV:KCC) is pleased to announce drilling is underway at its wholly owned Argalant, Central West Ulgii
Khud and prospects located on the margins of the Ulgii Khud massif in the Southern Gobi, Mongolia.
Four holes by percussion drilling with diamond tails (total up to 2000 metres) are planned to test targets generated from
basement analysis and interpretation of last years ground magnetic survey. The first phase program will see two holes completed
at the Argalant prospect, before drilling the Central West Khiid Ulgii and West Khiid Ulgii prospects. The drilling program will
test magnetic low zones along interpreted north-south structures, targeting intrusions or alteration to support porphyry targets
within favourable arc transverse settings.
Historic Ivanhoe samples on limited areas of outcrop for the Ulgii Khud massif support it being a potential copper-gold
mineralized system and to the best of Kincora's knowledge no drilling has taken place into the intrusion or its margins under
cover.
Sam Spring, President & CEO, commented: "The Ulgii Khud massif is along the north-east
arc parallel Oyu Tolgoi-Tsagaan Suvarga Devonian belt. Porphyries in more mature and well understood copper belts are known to
occur in favorable structural settings and do not occur in isolation. The two currently economic deposits in the Southern Gobi
copper belt are interpreted to be controlled by arc transverse structures within Late Devonian age intrusions.
This maiden drilling program is testing four potentially favorable arc transverse structures at moderate depths on the
margin of the Ulgii Khud massif and is expected to provide important geological understanding to this very large, but previously
undrilled intrusive complex where limited previous surface exploration supports a potential copper-gold system under cover
.
This drilling program continues the implementation only in the last quarter of the first modern systematic Tier 1
copper porphyry drill testing and district scale reconnaissance exploration program in the highly mineralized but vastly under
explored Southern Gobi Devonian belt. Following the recently two tranche private placements Kincora will complete approximately
20,000 metres of drilling over a 9-12 month period. "
About Kincora
Kincora is a junior resource company engaged in the acquisition, exploration and development of mineral properties,
with a focus on Tier 1 copper-gold projects in Mongolia. For further information: www.kincoracopper.com.
Qualified Person
The scientific and technical information in this news release was prepared in accordance with the standards of the
Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral
Projects ("NI 43-101") and was reviewed, verified and compiled by Kincora's geological staff under the supervision of
Peter Leaman, Senior Vice-President of Exploration of Kincora Copper, who is the Qualified Person
for the purpose of NI 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Kincora Copper Limited
View original content: http://www.newswire.ca/en/releases/archive/October2017/24/c6414.html