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Orbminco Limited
Bronze Fox Copper
In August 2024, Orbminco entered into a JV Agreement with Kincora Copper Ltd over the Bronze Fox Copper Project.
The Agreement gives Orbminco the right to earn 80% equity by spending US$4 million.
Other principal terms of the JV agreement include that Orbminco may purchase the remaining 20% from Kincora for a US$10 million in cash and the grant of a 1% NSR or can otherwise enter an 80/20 joint venture.
The Bronze Fox Project, which covers 175km2, is located in the Southern Gobi porphyry belt of southern Mongolia, approximately 450km south of the capital Ulaanbataar. The project contains an Inferred Mineral Resource Estimate (MRE) of 194Mt at 0.26% copper equivalent (CuEq) at a 0.2% CuEq cutoff within a notional pit shell to a depth of approximately 325m below surface¹. An additional Exploration Target of between 100Mt and 300Mt at 0.25% to 0.35% CuEq1 has been identified beneath the MRE.
The Bronze Fox Project comprises two adjacent tenements and contains three underexplored, large and near surface porphyry systems including the MRE referred to above. In addition, there are a number of early-stage copper and gold targets which are being assessed to determine whether drilling is warranted.
Click on Bronze Copper project images below to enlarge
Orbminco has established an in-country team of internationality experienced geologists with supporting infrastructure including a fully equipped Ulaanbaatar office and onsite field camp.
Orbminco in November 2024 completed a drilling programme following up on a previous Kincora drill hole (F62) which intersected:
929m @ 0.37% CuEq (from 343m) including:
318m @ 0.53% CuEq (from 515m) and
37m @ 1.01% CuEq, from 573m1.
Assays for the latest drilling are expected in mid-January 2025.
¹Kincora Copper ASX Announcement: Mineral resource and updated exploration target for Bronze Fox, 26th July 2022.