News

Kincora Copper announces exploration results and ramps up its 2012 drilling program

February 20, 2012

Vancouver, Canada – 20th February, 2012 – Kincora Copper Limited (TSX.V: KCC) (“Kincora”) announces the highlights from its Q4 2011 drilling campaign:

The Q4 2011 results in this release provide further evidence that the Bronze Fox project contains a very large area of copper and/or gold mineralization (including sub zones of extensive and continuous copper mineralization). High grade intersections in the drill core demonstrate the potential for a high grade resource. Furthermore, the identification of new anomalies expands the number of exploration targets; this will be discussed in an upcoming press release containing Kincora’s 2012 drilling program and strategy.

Commenting on today's announcement, Igor Kovarsky, President and CEO of Kincora, said: "I am delighted to announce the results from the 2011 exploration campaign which further demonstrate that Bronze Fox (Buyant license) hosts a large area of copper and gold mineralization. Nearly all of the holes intersected mineralization which is particularly encouraging given that drilling took place over a significant area. The results revealed a number of targets along a significant strike. Furthermore I am excited with the addition of newly discovered gold zones and we look forward to expediting the 2012 exploration campaign.”

Between October and December 2011, a further 2,400m of diamond drilling was completed, resulting in a total of 12,435m for the year across 23 holes. All holes have received Au assay returns with a total of 12,133 core samples. There are still 1,453 samples pending for Cu, Mo, etc. of ICP assays in the lab.

  • 22 holes hit copper and/or gold mineralization and 14 of these contain intersections of >1g/t Au with the highest intersection hitting gold grade of 8.39g/t.
  • Dunlop Fox (“DF”) (hole F47) has 6 separated 1m intervals with gold grade over 0.5g/t with the highest grade of 8.39g/t Au at 88m depth.
  • In Sophie North (“SN”), a total of 5 holes were drilled this year and 4 holes were previously drilled. All had gold mineralization; 3 of them contain >1g/t Au (over intervals of 1-2m) with the highest grade of 2.48g/t (1m interval at 13m depth).
  • Buchanan Heights (“BH”), (hole F33) returned associated Cu mineralization with the highest Cu grade of 1.88% Cu at 226m depth.
  • In West Kasulu (“WK"), low grade Cu/Au mineralization exists extensively in all of the holes drilled. In addition, further higher grade Au and Cu was intersected
    • Hole F42 with intervals of over 1% Cu; and
    • Holes F48 and F49 with over 1g/t Au intervals.

The soil geochemistry was sampled at a grid of 200m, the work concentration area appears to have extensive Cu and Au anomalies; few of those anomalies overlapping IP chargeability anomalies warrant further drill testing, including the high gold soil anomalies over 0.3g/t Au in DF, and SN. Outside of the work concentration area these anomalies are generally between 1,000m to 2,000m in strike. More gold soil geochemistry anomalies have been identified, with a high proportion in the southern part of the license some of which demonstrate grades of over 1g/t Au.  These anomalies either overlap VIP chargeability anomalies, or are adjacent to high grade rock chips samples (up to over 20g/t Au).

A high resolution ground magnetic survey was completed over the whole license area. A magnetite destruction feature area was identified in the southeast of the license under younger cover sequence which overlaps with VIP chargeability anomalies. There is a possibility that this is related to a potential alteration system and warrants further geophysics follow up and potentially drill testing.

Holes in SN and BH have demonstrated notable gold mineralization and are scattered in a belt of over 4km striking east-west. While we are endeavoring to locate the main economic copper mineralization zones over a large area of mineralization, the emerging gold potential will be heavily accounted for in the future work.

 

Table 1: Intervals with >0.5% CuEq

(Holes F46, F47, F48, F49 only have partial assay returns received.)

Area

Hole No

From

To

Au (g/t)

Cu (%)

Mo (ppm)

CuEq (%)

Dunlop Fox

F47

38

39

0.64

 

 

0.42

 

F47

43

44

2.07

 

 

1.36

 

F47

87

88

0.42

 

 

0.28

 

F47

88

89

8.39

 

 

5.5

 

F47

106

107

0.04

0.362

3

0.39

 

F47

108

109

0.67

0.0122

< 1

0.45

 

F47

193

194

0.38

 

 

0.25

 

F47

303

304

0.35

 

 

0.23

 

F47

322

323

0.57

 

 

0.37

 

F47

368

369

2.28

 

 

1.49

Buchanan Heights

F33

53

54

0.19

0.12

< 1

0.24

 

F33

54

55

1.12

0.33

3

1.07

 

F33

65

66

0.28

0.05

1

0.24

 

F33

67

68

1.34

0.02

2

0.9

 

F33

201

202

0.55

0.3

140

0.72

 

F33

205

206

0.36

0.16

5

0.4

 

F33

226

227

4.21

1.88

9

4.64

 

F33

244

245

0.45

0.21

1

0.51

 

F33

300

301

2.01

0.48

6

1.8

 

F33

341

342

0.19

0.18

29

0.31

 

F40

80

81

0.16

0.104

< 1

0.21

 

F40

157

158

0.95

0.0689

1

0.69

 

F40

292

293

0.28

0.184

10

0.37

 

F40

319

320

0.86

0.0534

5

0.62

 

F40

337

338

1.64

0.262

4

1.34

 

F40

338

339

0.27

0.25

2

0.43

Sophie North

F34

13

14

2.48

0.0281

4

1.66

 

F34

14

15

1.76

0.0232

< 1

1.18

 

F34

17

18

0.47

0.0347

< 1

0.34

 

F34

21

22

0.79

0.0205

< 1

0.54

 

F34

24

25

0.61

0.0266

< 1

0.43

 

F34

70

71

0.73

0.0294

< 1

0.51

 

F34

74

75

0.32

0.0867

< 1

0.3

 

F34

104

105

0.25

0.0554

< 1

0.22

 

F34

184

185

0.21

0.0933

< 1

0.23

 

F36

301

302

0.44

0.017

< 1

0.31

 

F36

345

346

0.03

0.166

53

0.21

 

F36

389

390

1.81

0.0381

2

1.23

 

F36

391

392

1.57

0.0084

2

1.04

 

F37

51

52

0.43

0.0946

< 1

0.38

 

F37

74

75

0.42

0.105

< 1

0.38

 

F37

182

183

1.54

0.0076

< 1

1.02

 

F45

114

115

0.32

 

 

0.21

West Kasulu

F35

6

7

0.13

0.409

< 1

0.49

 

F35

35

36

0.06

0.223

38

0.28

 

F35

41

41.5

0.46

0.321

< 1

0.62

 

F35

41.5

42

0.16

0.189

9

0.3

 

F35

42

43

0.15

0.271

6

0.37

 

F35

154

155

< 0.01

0.287

< 1

0.29

 

F35

161

162

0.06

0.168

14

0.21

 

F35

164

165

0.08

0.165

5

0.22

 

F35

177

178

0.09

0.193

9

0.26

 

F35

185

186

0.31

0.0475

10

0.25

 

F35

187

188

0.07

0.241

215

0.37

 

F35

242

243

0.01

0.0713

595

0.31

 

F35

256

257

0.01

0.22

2

0.23

 

F35

340

341

0.04

0.274

18

0.31

 

F35

399

400

0.02

0.185

5

0.2

 

F35

423

424

0.02

0.277

11

0.29

 

F35

426

427

0.01

0.0399

546

0.26

 

F35

427

428

0.01

0.0679

747

0.36

 

F35

440

441

0.02

0.142

151

0.21

 

F42

1

2

0.04

0.179

2

0.21

 

F42

13

14

0.13

0.127

1

0.21

 

F42

23

24

0.04

0.212

6

0.24

 

F42

28

29

0.03

0.243

2

0.26

 

F42

101

102

0.03

0.206

72

0.25

 

F42

102

103

0.03

0.193

49

0.23

 

F42

103

104

0.03

0.235

11

0.26

 

F42

104

105

0.04

0.256

15

0.29

 

F42

105

106

0.03

0.229

13

0.25

 

F42

106

107

0.03

0.183

5

0.2

 

F42

107

108

0.04

0.221

51

0.27

 

F42

111

112

0.03

0.272

62

0.32

 

F42

112

113

0.04

0.345

58

0.39

 

F42

113

114

0.04

0.313

10

0.34

 

F42

114

115

0.04

0.292

375

0.46

 

F42

115

116

0.08

0.418

73

0.5

 

F42

116

117

0.05

0.206

52

0.26

 

F42

119

120

0.03

0.216

7

0.24

 

F42

120

121

0.03

0.237

12

0.26

 

F42

202

203

0.02

0.136

381

0.3

 

F42

206

207

0.05

0.17

194

0.28

 

F42

207

208

0.03

0.189

69

0.24

 

F42

213

214

0.03

0.131

248

0.25

 

F42

217

218

0.04

0.339

46

0.38

 

F42

218

219

0.08

0.3

37

0.37

 

F42

219

220

0.03

0.251

25

0.28

 

F42

264

265

0.02

0.265

14

0.28

 

F42

268

269

0.02

0.238

21

0.26

 

F42

269

270

0.03

0.24

19

0.27

 

F42

310

311

0.05

0.293

4

0.33

 

F42

336

337

0.06

0.508

13

0.55

 

F42

371

372

< 0.01

0.345

2

0.35

 

F42

406

407

0.02

0.245

< 1

0.26

 

F42

408

409

0.03

0.342

9

0.37

 

F42

453

454

0.03

0.299

< 1

0.32

 

F42

459

460

0.02

0.208

< 1

0.22

 

F42

462

463

0.16

1.3

4

1.41

 

F42

476

477

0.05

0.271

< 1

0.3

 

F42

479

480

0.04

0.226

20

0.26

 

F42

482

483

0.03

0.335

< 1

0.35

 

F42

487

488

0.06

0.192

< 1

0.23

 

F42

494

495

0.04

0.196

1

0.22

 

F42

516

517

0.05

0.536

3

0.57

 

F42

571

572

0.02

0.213

3

0.23

 

F42

572

573

0.04

0.341

4

0.37

 

F42

581

582

0.02

0.198

1

0.21

 

F42

597

598

0.06

0.256

4

0.3

 

F42

598

599

0.03

0.235

< 1

0.25

 

F42

617

618

0.04

0.221

8

0.25

 

F42

619

620

0.31

1.14

1

1.34

 

F42

627

628

0.05

0.19

4

0.22

 

F42

628

629

0.03

0.308

< 1

0.33

 

F42

630

631

0.02

0.202

3

0.22

 

F42

633

634

0.14

1.18

5

1.27

 

F42

634

635

0.06

0.718

2

0.76

 

F42

635

636

0.06

0.324

2

0.36

 

F42

636

637

0.06

0.397

2

0.44

 

F42

640

641

0.03

0.304

2

0.32

 

F42

647

648

0.02

0.21

6

0.23

 

F42

668

669

0.04

0.18

2

0.21

 

F42

669

670

0.05

0.428

2

0.46

 

F42

679

680

0.02

0.192

1

0.21

 

F42

680

681

0.13

0.67

17

0.76

 

F42

681

682

0.03

0.31

3

0.33

 

F42

693

694

0.06

0.173

2

0.21

 

F42

694

695

0.01

0.352

2

0.36

 

F44

2

3

0.06

0.322

1

0.36

 

F44

12

13

0.03

0.877

973

1.27

 

F44

15

16

0.03

0.211

4

0.23

 

F44

16

17

0.03

0.194

8

0.22

 

F44

17

18

0.04

0.201

3

0.23

 

F44

18

19

0.04

0.263

3

0.29

 

F44

19

20

0.06

0.285

2

0.33

 

F44

20

21

0.04

0.181

3

0.21

 

F44

25

26

0.05

0.182

< 1

0.21

 

F44

26

27

0.05

0.232

1

0.27

 

F44

27

28

0.05

0.24

5

0.27

 

F44

28

29

0.06

0.358

10

0.4

 

F44

28

29

0.05

0.281

18

0.32

 

F44

29

30

0.03

0.184

2

0.2

 

F44

31

32

0.04

0.21

3

0.24

 

F44

33

34

0.03

0.189

3

0.21

 

F44

34

35

0.03

0.223

2

0.24

 

F44

35

36

0.03

0.257

4

0.28

 

F44

36

37

0.03

0.298

3

0.32

 

F44

40

41

0.03

0.182

2

0.2

 

F44

46

47

0.03

0.182

2

0.2

 

F44

49

50

0.03

0.199

7

0.22

 

F44

50

51

0.09

0.289

23

0.36

 

F44

61

62

0.1

0.54

4

0.61

 

F44

70

71

0.13

0.76

3

0.85

 

F44

72

73

0.03

0.204

3

0.22

 

F44

73

74

0.04

0.193

2

0.22

 

F44

82

83

0.03

0.214

1

0.23

 

F44

86

87

0.06

0.315

2

0.36

 

F44

90

91

0.04

0.225

2

0.25

 

F44

91

92

0.04

0.211

2

0.24

 

F44

103

104

0.04

0.242

3

0.27

 

F44

104

105

0.03

0.256

< 1

0.28

 

F44

105

106

0.03

0.196

7

0.22

 

F44

115

116

0.03

0.192

< 1

0.21

 

F44

132

133

0.05

0.236

< 1

0.27

 

F46

64

65

0.42

 

 

0.28

 

F46

65

66

0.37

 

 

0.24

 

F46

67

68

0.43

 

 

0.28

 

F48

149

150

0.44

 

 

0.29

 

F48

158

159

0.55

 

 

0.36

 

F48

171

172

0.38

 

 

0.25

 

F48

190

191

1.06

 

 

0.69

 

F48

294

295

0.52

 

 

0.34

 

F48

299

300

0.31

 

 

0.2

 

F48

530

531

0.47

 

 

0.31

 

F49

113

114

0.37

 

 

0.24

 

F49

114

115

0.36

 

 

0.24

 

F49

115

116

1.17

 

 

0.77

 

F49

374

375

0.41

 

 

0.27

 Leca Pass

F39

56

57

0.34

0.124

12

0.35

 

F39

134

135

0.03

0.211

4

0.23

 

F39

153

154

0.05

0.176

6

0.21

 

F39

204

205

0.08

0.148

13

0.21

 

F39

211

212

0.02

0.204

7

0.22

 

F39

220

221

0.02

0.263

4

0.28

 

F39

228

229

0.04

0.422

5

0.45

 

F39

256

257

0.09

0.142

8

0.2

 

F39

303

304

0.02

0.23

13

0.25

 

F39

304

305

0.02

0.345

3

0.36

 

F39

347

348

0.24

0.0759

5

0.24

 

F39

377

378

0.03

0.648

17

0.67

 

F39

413

414

0.02

0.313

29

0.34

 

F39

434

435

0.03

0.247

< 1

0.27

 

F39

437

438

0.05

0.245

4

0.28

 

F39

446

447

0.01

0.227

13

0.24

 

F39

466

467

0.25

0.04

8

0.21

 

F39

476

477

0.03

0.18

8

0.2

 

F39

486

487

0.12

0.17

3

0.25

 

F39

494

495

0.02

0.25

2

0.26

 

F39

515

516

0.34

0.0725

1

0.3

 

F39

530

531

0.03

0.383

5

0.4

 

F39

531

532

0.05

0.193

25

0.24

 

F39

585

586

0.02

0.228

22

0.25

 

F39

631

632

0.02

0.201

13

0.22

 

F39

654

655

< 0.01

0.423

3

0.42

 

F39

655

656

0.01

0.434

10

0.44

 

F39

656

657

0.01

0.267

3

0.27

 

F39

656

657

0.01

0.258

5

0.27

 

F39

657

658

0.02

0.612

12

0.63

 

F39

658

659

< 0.01

0.216

46

0.23

 

F39

665

666

0.03

0.263

6

0.28

 

F39

666

667

< 0.01

0.325

58

0.35

 

F39

675

676

0.02

0.19

10

0.21

 

F39

678

679

0.1

0.167

23

0.24

 

F39

680

681

0.06

0.45

5

0.49

 

F39

686

687

0.03

0.219

30

0.25

 

F39

700

701

0.01

0.275

15

0.29

 

F39

704

705

< 0.01

0.292

234

0.38

 

F39

705

706

< 0.01

0.135

181

0.2

 

F39

707

708

< 0.01

0.209

4

0.21

 

F39

708

709

< 0.01

0.226

140

0.28

 

F39

710

711

< 0.01

0.131

338

0.26

 

F39

718

719

< 0.01

0.168

85

0.2

 

F39

721

722

0.03

0.556

60

0.6

 

F39

723

724

0.04

0.164

49

0.21

 

F41

163

164

0.02

0.187

622

0.44

 

F41

188

189

0.05

0.122

211

0.24

 

F41

189

190

0.03

0.237

143

0.31

 

F41

198

199

0.61

0.0584

11

0.46

 

F41

207

208

0.02

0.296

30

0.32

 

F41

268

269

0.21

0.0876

8

0.23

 

F41

287

288

0.01

0.385

3

0.39

 

F41

315

316

0.02

0.203

2

0.22

 

F41

320

321

0.15

0.363

4

0.46

 

F41

321

322

0.03

0.553

7

0.58

 

F41

322

323

0.04

0.29

6

0.32

 

F41

323

324

0.03

0.244

11

0.27

 

F41

324

325

0.02

0.241

9

0.26

 

F41

325

326

0.02

0.216

6

0.23

 

F41

329

330

0.04

0.2

9

0.23

 

F41

332

333

0.06

0.176

5

0.22

 

F41

367

368

0.13

0.157

5

0.24

 

F41

391

392

0.01

0.455

2

0.46

 

F41

417

418

< 0.01

0.274

7

0.28

 

F41

419

420

0.04

1.53

93

1.59

 

F41

420

421

0.04

0.229

5

0.26

 

F41

423

424

0.1

0.205

5

0.27

 

F41

428

429

0.13

0.254

8

0.34

 

F41

459

460

0.02

0.282

7

0.3

 

F41

627

628

0.1

0.164

4

0.23

 

F41

631

632

0.09

0.196

< 1

0.25

 

F43

30

31

0.04

0.292

< 1

0.32

 

F43

31

32

0.05

0.243

< 1

0.28

 

F43

31

32

0.05

0.223

2

0.26

 

F43

89

90

< 0.01

0.27

< 1

0.27

 

F43

90

91

0.02

0.587

< 1

0.6

 

F43

109

110

0.02

0.242

< 1

0.26

 

F43

110

111

0.02

0.218

5

0.23

 

F43

125

126

0.13

1.25

1

1.34

 

F43

126

127

0.02

0.212

< 1

0.23

 

F43

134

135

0.25

0.0423

2

0.21

 

F43

135

136

0.86

0.0246

1

0.59

 

F43

142

143

0.02

0.191

< 1

0.2

 

F43

152

153

0.01

0.21

1

0.22

 

F43

211

212

0.03

0.25

< 1

0.27

 

F43

215

216

0.03

0.24

2

0.26

 

F43

282

283

1.04

0.0735

< 1

0.76

 

F43

639

640

0.02

0.256

< 1

0.27

 

F43

682

683

0.66

0.03

< 1

0.46

 

F43

695

696

0.02

0.192

< 1

0.21

 

F43

748

749

0.02

0.192

11

0.21

 

F43

767

768

0.02

0.257

11

0.27

 

F43

767

768

0.02

0.222

2

0.24

 

F43

771

772

0.01

0.23

< 1

0.24

Note:  CuEq calculated based on prices of: Cu: $3.8/lb, Au: $1,725/oz, Mo: $14.0/lb

Qualified Person

The new drilling results in this news release and on Kincora’s website and the other scientific and technical information in this news release were 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 were reviewed, verified and compiled by Kincora’s geological staff under the supervision of John Rickus, a director of Kincora, who is the Qualified Person for the purpose of NI 43-101.

 

Figure 1: Au soil geochemistry

Figure 1: Au soil geochemistry

Contours: Blue 0.015g/t; First green 0.02g/t; Yellow 0.05g/t; Pink 0.07g/t; First red 0.1g/t Au. Dots: Green – borehole; Pink – hole with >1g/t Au intersections.

Figures in yellow – Au grade: peak gold soil geochemistry anomaly value.

The width of the image is 13km

 

Figure 2: Au soil geochemistry

Figure 2: Au soil geochemistry

Contours: Blue 0.015g/t; First green 0.02g/t; Yellow 0.05g/t; Pink 0.07g/t; First red 0.1g/t Au. Dots: Green – borehole; Pink – hole with >1g/t Au intersections.

Figures in yellow – Au grade: peak gold soil geochemistry anomaly value.

The width of the image is 7.5km

 

Figure 3: IP and VIP chargeability anomalies

Figure 3: IP and VIP chargeability anomalies

Contours: Blue 0.015g/t; First green 0.02g/t; Yellow 0.05g/t; Pink 0.07g/t; First red 0.1g/t Au. Dots: Green – borehole; Pink – hole with >1g/t Au intersections.

Figures in black – Au grade: peak gold soil geochemistry anomaly value.

The width of the image is 13km

 

Figure 4: IP and VIP chargeability anomalies

Figure 4: IP and VIP chargeability anomalies

Contours: Blue 0.015g/t; First green 0.02g/t; Yellow 0.05g/t; Pink 0.07g/t; First red 0.1g/t Au. Dots: Green – borehole; Pink – hole with >1g/t Au intersections.

Figures in black – Au grade: peak gold soil geochemistry anomaly value.

The width of the image is 7.5km

 

Figure 5: Cu soil geochemistry anomaly

Figure 5: Cu soil geochemistry anomaly

Contour: Blue 100ppm; First green 200ppm; Yellow 400ppm; Pink 500ppm; First red 600ppm. Contour interval: 100ppm.

The width of the image is 13km

 

Figure 6: Cu soil geochemistry anomaly

Figure 6: Cu soil geochemistry anomaly

Contour: Blue 100ppm; First green 200ppm; Yellow 400ppm; Pink 500ppm; First red 600ppm. Contour interval: 100ppm.

The width of the image is 13km

 

Figure 7: Cu soil geochemistry anomaly

Figure 7: Cu soil geochemistry anomaly

Contour: Blue 100ppm; First green 200ppm; Yellow 400ppm; Pink 500ppm; First red 600ppm. Contour interval: 100ppm.

The width of the image is 7.5km

 

About Kincora:

Kincora Copper Limited is a mining exploration and development company focused on copper-gold deposits in Mongolia. Its key asset is the Bronze Fox (Buyant License) copper-gold deposit located in southeast Mongolia along the Oyu Tolgoi copper belt. Bronze Fox (Buyant License) is located approximately 140km to the northeast of the world-class Oyu Tolgoi copper-gold project, and is 250 km from the Chinese border.

 

Contact details:

Igor Kovarsky, President and CEO

+1 604 689-2599

 

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.