Gold-copper explorer and hybrid project generator Kincora Copper Limited (ASX & TSXV: “KCC”) (Kincora or the Company) is pleased to announce that it has resecured the full rights of its Mongolian c0pper-gold portfolio following Orbminco Limited’s (ASX: OB1, formerly known as Woomera Mining Limited) withdrawal from the September 2024 Earn-In Agreement as it now focuses on its Australian gold exploration.
Assets within the Mongolian portfolio include three extensive and underexplored copper-gold intrusive complexes at the Bronze Fox project (including a large JORC Mineral Resource Estimate and Exploration Target 1 ), a year-round field camp and a proprietary Mongolia wide project generation database. Further details are provided in an Appendix to this release.
This development comes at a time of various notable positive developments highlighting the potential of Mongolian’s resource sector and the Bronze Fox copper-gold project. These include:
• Xanadu Mines and its flagship Kharmagtai copper-gold project’s recent A$160-million takeover by Bastion Mining Pte. Ltd,
• Erdene Resource Development’s first gold pour at its greenfield Bayan Khundii project,
• construction of the privately held Tsagaan Suvarga copper-molybdenum project, and,
• the Oyu Tolgoi copper-gold project being on track to be the world’s fourth largest copper mine by 2030.
With Kincora now controlling 100% ownership, the Company will move forward to build on existing and new interest in the project.
Kincora intends to consider a range of options, including focused self-funded exploration, third party investment and other corporate initiatives. Near term value add activities may include the potential submission for a second mining license at the Bronze Fox project and fresh mining studies relating to the existing oxide resource reflecting recent shifting in commodity prices.
Further market updates will be provided following any material development arising to the Company’s Mongolian asset portfolio
About us:
About Kincora
Kincora Copper is an active explorer and project generator focused on world-class copper-gold discoveries. Kincora’s portfolio includes district scale landholdings and scale-able drill ready targets in both Australia and Mongolia's leading porphyry belts, the Macquarie Arc and Southern Gobi, respectively, and the historical Condobolin mining field in the southern section of the Cobar
superbasin NSW.
For more information please visit Kincora’s website at www.kincoracopper.com
Contact details:
For further information please contact:
Sam Spring, President and Chief Executive Officer
[email protected] or +61431 329 345