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Kincora Copper Consolidates Landholding in Southern Gobi Copper-Gold Belt
Nov. 7, 2016 - Kincora Copper Limited (the "Company", "Kincora") (TSXV:KCC) is pleased to announce the closing milestone for the IBEX transaction. This follows
About this update from Kincora Copper Limited
[{"type":"text","content":"Nov. 7, 2016 - Kincora Copper Limited (the \"Company\", \"Kincora\") (TSXV:KCC) is pleased to announce the closing milestone for the IBEX transaction. This follows satisfaction of all key Mongolian processes and approvals, and acceptance by the TSX Venture Exchange, with Kincora scrip (share) consideration placed into escrow pending the re-registration of the IBEX licenses being achieved. As initially announced on May 25th, 2016, Kincora and High Power Ventures Inc. (\"HPV\"), a private company controlled by High Power Exploration Inc. (\"HPX\"), have agreed to consolidate their respective Mongolian land holding and services subsidiaries (\"IBEX transaction\"). The transaction results in Kincora having a 100% interest in a portfolio covering over 1,500km2 and the majority of the prospective exploration licenses that dominate a key geological trend between and along strike from the Oyu Tolgoi and Tsagaan Suvarga (Devonian) copper mines. Kincora now holds an industry leading proposition of copper-gold and gold targets, and the dominate landholding in this proven but underexplored gold rich porphyry district. Sam Spring, Kincora President and CEO, stated: \"Closing the IBEX transaction results in Kincora being the largest landholder in the belt at a time when various incumbents are again looking to increase their exploration footprint and advance exploration efforts, with increased activity of potential new entrants undertaking due diligence revisiting the Southern Gobi's copper-gold potential. We look forward to providing further details of various activities that have been taking place in preparation for completion of the transaction, including the recently completed Technical Workshop, members of the newly formed Technical Committee, moving forward with ongoing and planned future exploration activities, potentially securing additional strategic land, and, other targeted corporate opportunities. I would like to thank all involved with reaching this milestone, particularly the Kincora and HPX teams\". Background to the IBEX transaction IBEX's portfolio is focused on porphyry targets to the east and south of Kincora's existing licenses with the consolidated landholding now being the dominant position in the Oyu Tolgoi-Tsagaan Suvarga (Devonian) copper belt. A large and high quality regional geophysical and surface geoche...