Kincora Copper Limited
TSX VENTURE : KCC

Kincora Copper Limited

September 05, 2012 09:30 ET

Kincora Copper Limited Announces Further Elevated Copper and Gold Mineralisation at Bronze Fox

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 5, 2012) - Kincora Copper Limited (TSX VENTURE:KCC) ("Kincora") is pleased to announce highlights from the remaining assay results from Hole F62 located in the West Kasulu zone at Bronze Fox and additional assay results from Tourmaline Hills.

New assay results received demonstrate an extensive copper and gold mineralised zone with occasional elevated molybdenum intersections. Mineralisation is open in all directions.

The received assays from Hole F62 include the following results:

  • 3m averaging 0.33% Cu and 0.58g/t Au (0.82% Cu equivalent) from 90m to 93m
  • 9m averaging 0.37% Cu and 0.97g/t Au with a high of 5.1g/t Au (1.07% Cu equivalent) from 171m to 180m
  • 17m averaging 0.19% Cu and 0.43g/t Au (0.68% Cu equivalent) with a high of 3.6g/t Au from 193m to 210m
  • 5m averaging 0.32% Cu, 0.17% Mo and 0.18g/t Au (1.05% Cu equivalent) from 205m to 210m
  • 661m averaging 0.35% Cu, 0.01% Mo and 0.08g/t Au (0.44% Cu equivalent) from 399m to 1,060m
    • Including
      • 8m averaging 0.46% Cu, 0.16% Mo and 0.07g/t Au (1.0% Cu equivalent) from 476m to 484m
      • 37m averaging 0.8% Cu, 0.05% Mo and 0.14g/t Au (1.07% Cu equivalent) from 573m to 610m (including 13m at 1.52% Cu equivalent from 55m)
      • 46m averaging 0.57% Cu, 0.01% Mo and 0.14g/t Au (0.72% Cu equivalent) from 656m to 703m
      • 6m averaging 0.81% Cu, 0.02% Mo and 0.2g/t Au (1.02% Cu equivalent) from 686m to 692m
      • 17m averaging 0.62% Cu and 0.13g/t Au (0.73% Cu equivalent) from 714m to 731m (including 4m at 1.00% Cu equivalent from 727m)
      • 2m averaging 1.99% Cu, 0.04% Mo and 0.19g/t Au (2.26% Cu equivalent) from 809m to 811m
      • 1m averaging 0.14% Cu and 4.1g/t Au (3.10% Cu equivalent) from 929m to 930m

The drilling program is targeting an Oyu Tolgoi style of porphyry Cu-Au-Mo mineralisation with a large resource potential. Further drilling will test the extent of the mineralisation and will track the halo east and west which runs for approximately 2km.

Commenting on today's announcement, John Rickus, President and CEO of Kincora, said: "The exploration results continue to demonstrate the extent of the mineralisation at Kincora's properties. The 2012 exploration program remains on track for the season and we continue to improve our understanding of the extent of the high grade system while adding new targets to be explored at a later stage."

In addition to the Hole F62 results in West Kasulu, further core assay results were returned from holes F61, F77 and F79 in Tourmaline Hills with both gold and copper intersections:

  • Hole F61: On 7 August 2012, Kincora announced partial results from Hole F61 of 1m of 2.74g/t Au between 39m to 40m and 5m averaging 2.65g/t Au between 60m to 65m; including 3m of 3.45g/t to 4.70g/t (Kincora Copper Intersects Significant High Grade Copper at Bronze Fox and Gold at Tourmaline Hills). Further assay returns for this hole are
    • 1m of 1.02g/t from 72 to 73m
    • 3m averaging 1.09g/t (including 1m of 2.22g/t Au) from 77 to 80m
    • 1m of 5.35g/t of gold from 155 to 156m
  • Hole F77: Partial assays returned include:
    • 6m averaging 0.85% Cu with 0.1g/t from 72 to 78m
      • including 1m of 1.03% Cu from 72 to 73m
      • including 2m of 1.58-1.86% Cu from 76 to 78m
  • Hole F79: Partial assays returned include:
    • 1m of 1.05g/t Au from 9 to 10m
    • 1m of 1.30g/t Au from 143 to 144m
    • 1m of 1.52g/t Au from 145 to 146m
    • 1m of 0.87g/t Au from 164 to 165m
    • 1m of 1.19g/t Au from 236 to 237m

Along the south east Happy Geo zone, 650 rock chip samples have been collected. Assay returns from 81 samples have over 0.1g/t Au

  • including 60 samples of over 0.2g/t Au
  • including 19 samples over 1g/t Au
  • including 5 samples are over 10g/t, with highest of 42.5g/t Au
  • The Happy Geo zone sits in a large shear zone which is over 300m wide and over 15km of outcrops. The high grade rock chip samples are scattered in a zone of about 8km in length.
  • The soil geochemistry program for the current work concentration area and the Happy Geo zone has been completed and further high gold anomalies are evident (e.g., in Happy geo zone the highest point value is 2.55g/t Au).
  • 9 array 3D IP survey has been completed with a total block length of 38.4km. The survey identified broad zones of high anomalous IP along the Happy Geo zone and also the southeast corner of the license 15000X.

To view the photos and figures accompanying this press release, click on the following link: http://media3.marketwire.com/docs/k94p.pdf

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.

Quality Assurance:

All of the core samples were assayed by Actlabs and SGS laboratories, both are internationally recognized laboratories.

(http://www.actlabs.com/page.aspx?menu=60&app=206&cat1=495&tp=2&lk=no; http://www.sgs.com/en/Mining/Analytical-Services/Geochemistry.aspx). All the samples were assayed with 50 gram fire assay for Au, and ICP assay for Cu, Mo, Ag, Zn, etc with Actlabs' code of 1F2 (34 elements) and SGSs' code of ICP40B (45 elements). 5% of standards, 3% of blanks, and 1% of duplicates were used for assay quality control. The Company has formal sample analysis service contracts with Actlabs and SGS for drill core, soil, rock chip, etc. samples in 2012.

About Kincora:

Kincora Copper Limited is a mining exploration and development company focused on copper-gold deposits in Mongolia. Its key assets are Bronze Fox, Tourmaline Hills and North Fox located in southeast Mongolia along the Oyu Tolgoi copper belt. The licenses are located 140km northeast of the world class Oyu Tolgoi copper gold project and 250km from the Chinese border.

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.

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