Permits for the drilling were obtained from both the Manlai and Mandakh soums (Districts) located within the Southern Gobi copper / gold belt.
Woomera has completed the signing of the final Earn-In Agreement with Kincora Copper Limited (ASX: KCC) and can now commence drilling in early October. A Diamond Core programme of between 2250 and 3250m is planned, with Litho LLC, a leading Mongolian Drill operator, appointed as Diamond Drill contractor for the programme.
BRONZE FOX PROJECT
The Bronze Fox Project covers 175km2 and is located in the Southern Gobi porphyry belt of southern Mongolia, approximately 450km south of the capital Ulaanbaatar. It represents an opportunity to secure an 80% interest (with the ability to move to 100% at Woomera’s election) in an underexplored world-class porphyry copper project with genuine Tier-1 potential. Drilling by Kincora totalling approximately 46,625 metres of Reverse Circulation and Diamond Core drilling has defined three shallow, large porphyry complexes, providing genuine new discovery potential, resource delineation and early-stage exploration plays.
Key project components include:
The Mineral Resource and Exploration Target were first reported by Kincora Copper (ASX:KCC) under its ASX announcement dated 26th July 2022 entitled ‘Mineral resource and updated exploration target for Bronze Fox.’
Woomera Managing Director, Ralf Kriege, said:
“The commencement of the drill programme marks the start of an exciting transformative period for Woomera progressing the Bronze Fox Copper – Gold Project in one of the world’s most prospective copper belts. Drill rigs are to be mobilised this coming week and we look forward to reporting the results in the next months.”
The Bronze Fox Project is located proximal to several world class mineral deposits including Oyu Tolgoi, Kharmagtai, Tsagaan Suvarga and Tavan Tolgoi (see Figure 1).
A priority target for the Company will be following up on hole F62 (see Figure 2) drilled by Kincora which intersected:
(See Kincora Copper ASX Announcement: Mineral resource and updated exploration target for Bronze Fox, 26th July 2022).
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