Gold-copper explorer and hybrid project generator Kincora Copper Limited (Kincora) is pleased to announce that it has resecured the full rights of its Mongolian copper-gold portfolio following Orbminco Limited’s 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.