MONGOLIA - Improved grades at Bronze Fox

Assay results from the latest round of drilling at Kincora Copper’s Bronze Fox project in Mongolia’s southeast have returned higher grade copper and gold intersections at the West Kasulu and Sophie North deposits.

The 223sqkm project is about 140km northeast of the world-class Oyu Tolgoi project and shares the same metallogenic belt. Kincora has completed a further 1240 metres of diamond core drilling and expects to finish this drill program this week.

Significant results from the drill holes at West Kasulu include a high copper grade of 8.11% and gold grade of 1.5 grams/tonne over 1 metre within a 106 metre intersection.

Gold anomalies intersected at Sophie North include from 36 metres to 342 metres, with ten 1 metre intervals intersected hosting between 0.1 grams/tonne gold and 0.44 grams/tonne gold.

Meantime, 60 surface rock chip samples from an area 3km south of Leca Pass resulted in 11 assays with gold grades of greater than 0.5 grams/tonne, including 8 samples with greater than 1 grams/tonne gold, and 3 samples with greater than 19 grams/tonne, the highest being 91.6 grams/tonne. Those samples are scattered in quartz veins along a shear zone which is relatively underexplored.

Kincora president Igor Kovarsky says, “We are excited with the recent results. We will complete the 2011 drilling program in November and will concentrate on geophysics and geochemistry studies, as well as adding core cutting facilities to expedite sample delivery to the labs for assaying. We will design the 2012 exploration program to aggressively attack specific areas based on the results and knowledge obtained from the above mentioned surveys.”

Kincora has now begun a systematic rock ship sampling program of the historical Soviet trenches and a soil sampling program with a 200 metre grid of the whole licence area. This program aims to screen the potential for gold mineralization outside the current concentration areas.

The company also plans to carry out a high resolution ground magnetic survey to map structure and alterations associated with magnetite destruction, and also to highlight any magnetic intrusions, especially within the covered terrain of the license area.

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