Kincora Copper (CVE:KCC) announced Wednesday the remaining assay results from a hole in the West Kasulu zone at its Bronze Fox project in southeast Mongolia- which show an "extensive" copper and gold zone.
The company said the copper and gold mineralized zone has occasional elevated molybdenum intersections, with mineralization open in all directions.
The hole, F62, from the West Kasulu zone, returned 3 metres averaging 0.82% copper equivalent, and up to 661 metres averaging 0.44% copper equivalent. The hole also intercepted 9 metres averaging 1.07% copper equivalent.
These intercepts included grades as high as 3.1% copper equivalent over 1 metre from 929 to 930 metres.
The company's Bronze Fox, Tourmaline Hills and North Fox assets are located in southeast Mongolia along the Oyu Tolgoi copper belt. The licenses are located 140 kilometres northeast of the famous Oyu Tolgoi copper gold project and 250 kilometres from the Chinese border.
The drilling program at Bronze Fox is targeting an Oyu Tolgoi style of porphyry copper-gold-molybdenum mineralization with large resource potential.
Further drilling will test the extent of the mineralization and will track the halo east and west, which runs for approximately 2 kilometres, Kincora said.
"The exploration results continue to demonstrate the extent of the mineralisation at Kincora's properties," said president and CEO, John Rickus.
"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 results from hole F62, further core drill results were announced from holes in Tourmaline Hills, with both gold and copper intersections, the company said.
New results included 3 metres averaging 1.09 grams per tonne (g/t) gold, 6 metres averaging 0.85% copper with 0.1 g/t and 1 metre of 1.52 g/t gold.
The company also reported rock chip sample results from the southeast Happy Geo zone, including 60 samples of over 0.2 g/t gold and 5 samples over 10 g/t gold, with the highest at 42.5 g/t.
The Happy Geo zone sits in a large shear area, which is over 300 metres wide and over 15 kilometres of outcrops.
The company said 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.