AUS
NZ
UK
CA
USA
IND
Highlights
- Significant expansion at Bronze Fox Project in Mongolia
- Orbminco's latest drilling program shows encouraging high-grade copper results
- Plans underway for 2025 drilling campaign to explore open-pit potential
Orbminco (ASX:OB1) has confirmed an exciting expansion at its Bronze Fox Porphyry Project in Mongolia, enhancing the potential of the West Kasulu resource. With the completion of a 16-hole diamond core drilling program, the results reveal higher grade mineralisation, offering promising insights into the copper-equivalent potential of the area.
Under the terms of a strategic partnership with Kincora Copper (ASX:KCC), Orbminco can earn up to an 80% interest in the Bronze Fox Project by investing US$4 million ($6.1 million) over five years. As the largest shareholder, Kincora maintains an asset-level interest through a carried interest to the final investment decision or a potential bullet payment.
Recent assay results from the drilling campaign show encouraging grades, including 26m at 0.91% copper-equivalent from a depth of 14 meters, with a high-grade intercept of 2m at 7.97% copper. Furthermore, one of the holes returned 486 meters at 0.21% copper-equivalent, with all but one of the holes revealing significant mineralisation. The successful program will now serve as a cornerstone for advancing the conversion of the exploration license to a mining lease.
The next phase will include expanding on these findings with a focused exploration program for 2025, specifically targeting extensions of high-grade mineralisation and untapped regional prospects. Orbminco's Managing Director, Ralf Kriege, highlighted that this data is crucial for mapping further targets, including the highly promising open-pit potential, particularly in the western strike extension where earlier drilling returned some extraordinary copper grades.
In addition to the immediate expansion at Bronze Fox, Kincora Copper CEO Sam Spring emphasised the significant scale of the Bronze Fox intrusive complex. This is one of three large porphyry complexes within the project area, further supported by ongoing exploration programs, including potential geophysical work scheduled for the 2025 drilling season.
Looking ahead, Orbminco's strategy also involves further drilling on targets within the project area and exploring other porphyry systems like Shuteen North, which is completely untested and holds immense promise.
With the full-scale potential of the Bronze Fox Project continuing to unfold, these developments signal an exciting future for both Orbminco and its investors.
