The Asia Miner

JAN-FEB 2018

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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Page 12 of 83

Volume 15 • Issue 1 | 2018 | ASIA Miner | 11 Unlike the nearby Copper Hill and Stockwork Hill deposits, White Hill has had sparse drilling and there remains good potential for high-grade zones of mineralisation within the current drill pattern. Encouraging Erdene drilling Drilling by Erdene in 2017 supported the presence of multiple, near-surface, very high-grade zones outside of the main Midfield and Striker zones at the Bayan Khundii project. Best results received in early December were 61 metres at 4.2 g/t gold, including 1 metre at 111 g/t in Striker Zone; 15 metres at 9.2 g/t, including 1 metre at 116 g/t 250 metres west of Striker; 23 metres at 6.7 g/t, including 1 metre at 139 g/t between Striker and Midfield; and 93 metres at 1.5 g/t 225 metres north of Midfield. At the time, Peter Akerley said, "Results include many intervals with ounce to multi-ounce gold intersections, including some in ar- eas not previously identified as high-grade, such as north of Mid- field, west of Striker and near-surface between Midfield and Striker. "Additionally, closer spaced drilling within the Striker and the Strik- er-Midfield areas continues to deliver excellent results, confirming strong continuity of these very high-grade gold domains. "This, coupled with recently completed quarter 4 drilling results at our neighbouring Altan Nar project, and recent high-grade sampling results north of Bayan Khundii, display the tremendous upside po- tential of this new district." During the March quarter, the company's technical team will as- sess the 2017 drill and exploration programs and determine what additional drilling may be required prior to an independent resource evaluation. Timing of the eventual resource studies for Bayan Khundii and Altan Nar will be influenced by that determination. It is anticipated, however, that the studies will be completed between quarter 2 and quarter 3 of 2018. Kincora reviews Bronze Fox Kincora Copper has appointed Mining Associates to undertake a review of its Bronze Fox Copper-Gold Porphyry Project. The review will provide an independent resource model and assist in future exploration. A 3D block model is expected to support tonnage and grade esti- mates, and provide parameters for future exploration and a potential NI 43-101 compliant resource. Bronze Fox has an extensive mineralised footprint covering more than 40km 2 at the Bronze Fox Intrusive Complex (BFIC) and 15km 2 at the neighbouring Tourmaline Hills Intrusive Complex (THIC). Two active and unencumbered drilling exploration field seasons have been carried out across the portfolio that hosts the full BFIC. Total drilling by Kincora and others covers 169 holes for 55,908 metres. Efforts have focused on the western central portion of the BFIC where 75 holes for 23,130 metres have been drilled across a 1.4km by 2.4km zone, with mineralisation encountered often from surface to a maximum vertical depth of over 1km. Best results were 391 metres at 0.50% copper equivalent, including 37 metres at 0.83% copper for 1.01% copper equivalent; and 112 metres at 0.50% copper equivalent, including 32 metres at 0.37% copper for 0.91% copper equivalent. Sam Spring said, "There is a substantial copper-gold system at the western central portion of the BFIC, within the larger two miner- alised intrusions at Bronze Fox. "With unencumbered access to both licences and an improved copper price, the review is expected to independently quantify the previous discovery, which will assist valuations to peers, define ar- eas of potential higher grade and adjacent exploration targets that may justify further drilling to expand the mineralised system and de- fine a maiden NI 43-101 compliant resource. "Relative to the other copper-gold projects in the wider belt that have existing resources, Bronze Fox has had modest previous drilling." A geology and drill hole map from Erdene's Bayan Khundii project. Core samples from Kincora's drilling program in the South Gobi. Among the major areas of focus on Xanadu's Kharmagtai project.

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