Refunding Kincora a minimum of 50% of its Mongolian Maintenance Payments upon receipt of further pre-IPO funding Ĭonverting (at Resilience's expense) the Exploration Target to a JORC and/or NI 43-101 resource for the Bronze Fox project ahead of IPO 1,2 and, Resilience having appointed a new lead manager for the proposed ASX listing (by 28 February, 2022) This agreement was extended with completion proposed January 31 st, 2022, with a further extension now being provided subject to: On June 30 th, 2021, Kincora executed a definitive acquisition and joint-venture agreement with Resilience for Kincora's Mongolian asset portfolio. Resilience is undertaking a maiden JORC &/or 43-101 resource for the Bronze Fox project at the existing Block Modelled area that supports the defined Exploration Target 1 Three large and underexplored porphyry complexes on two adjacent Kincora licenses, which are covered by the corporate agreement with Resilience. ![]() On China's doorstep, trucking distance to the world's largest copper consumerįigure 2: Field season results generate and refine multiple targets The targets, team and foundations are in place for Resilience to add significant value this field season."Īn accompanying detailed Mongolia focused exploration and corporate update presentation, with further details and figures to this release, is available at Figure 1: A strategic and district scale position in Mongolia's world-class Southern Gobi porphyry belt The Company has granted Resilience an extension to IPO on the ASX with a A$7.5 million to A$10 million offering, a new lead manager, reimbursement of certain Mongolian expenditures, and the definition of a maiden resource for the Bronze Fox project 1. These results further highlight the potential of our existing Mongolian project portfolio and logic of having a motivated and focused group like Resilience drive these assets forward to the next stage. ![]() Last year's field activities have identified a new significant scale series of porphyry targets at Shuteen North, and separately advanced our understanding of the mineralised controls and size of the system at the more advanced West Fox target. ![]() The agreement with Resilience provides attractive upside to Kincora shareholders and will streamline focus to our Macquarie Arc porphyry portfolio in Australia. "Kincora has continued to responsibly and systematically advance and add value to our prospective project pipeline in Mongolia's Southern Gobi, with promising results, as we work with and pursue the corporate agreement with Resilience. 11, 2022 /CNW/ - Kincora Copper Limited (the Company, Kincora) (TSXV: KCC) (ASX: KCC) is pleased to provide an exploration and corporate update following 2021 field season activities in Mongolia and an extension of the corporate agreement with Resilience Mining Mongolia Limited (Resilience) covering the Mongolian asset portfolio. Multiple porphyry targets at newly identified Shuteen North prospectįurther high-grade gold with base metals rock chip and soil samples at the West Fox prospect expands mineralised system and refines mineralising controlsĮxtension of the existing corporate agreement covering the Mongolian portfolio with Resilience Mining Mongolia to include maiden resource definition for the Bronze Fox project and reimbursement of costsįield season results highlight attractive exploration upside of Kincora's existing Mongolian asset portfolio, and significant upside provided for exploration, project generation and development success under the agreement with Resilience Mining Mongolia
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