|АКИpress CA-News Tazabek Turmush||ADVERTISE WITH US SUBSCRIBE|
AKIPRESS.COM - Kincora Copper Limited, a mining and exploration company focused on copper and gold deposits in Mongolia, said it received a new copper-gold exploration license issued by the Mineral Resources, Petroleum Authority of Mongolia.
The new license adjoins one of our existing and large scale priority exploration licenses that hosts the Bayan Tal Igneous Complex.
Limited previous exploration at the Bayan Tal target on the Khuren Tsav license returned favourable copper-gold widths and grades on or near to the distal southern outcropping margin of an interpreted large-scale target at shallow to moderate cover with the first comparable Devonian age stratigraphy and conglomerate to Oyu Tolgoi, since OT. Previous results include 18m 0.75% Cu Eq (trench)and 18m 0.66% Cu Eq in drill hole IBEX006.
The new Shavagtai license is the second Kincora has secured via the direct application system since the new ground in the eastern section of the country was opened up in the second half of 2015 following a 5-year moratorium for issuing new exploration licenses.
Other larger-scale and longer-term explorers in the belt have also been successful securing new ground in this belt and are now resuming exploration activities (refer to Figure-2 in the Appendix to this press release). As stated by Minister of Mining and Heavy Industry, Dashdorj Tsedev, at PDAC earlier this year, it is proposed that total land available for exploration in Mongolia will be increased from the current 9.6% to 20.9%.