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REG - Origo Partners PLC - Investment in Mongolian copper-gold prospect

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September 13 (Bloomberg)--
Origo Partners Plc (&quot;Origo&quot;) today announced the acquisition of a 25% stake in Kincora Ltd, owner of the Bronze Fox copper-gold prospect (&quot;Bronze Fox&quot;) in Mongolia for US$3 million. 
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Bronze Fox contains a number of exploration prospects, within a license covering 22,323 hectares in the Buyant area of Mandakh Soum of Dornogobi Aimag, situated in the south of Mongolia.&nbsp; The prospect lies in the Mongolian copper belt and is 140 kilometres northwest of the Oyu-Tolgoi copper-gold mine.&nbsp; Within the Bronze Fox licence area there is evidence of copper mineralisation at the surface of a 1 kilometre long, 600 metre wide monzonite intrusion, continuing to a depth of at least 400 metres.&nbsp; Gold mineralisation associated with copper is evident in a 12 metre wide band, suggesting the possibility of selectively mining a gold-rich zone. 
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Under the terms of the transaction, Origo has acquired 25% of Kincora for a total cash consideration of US$3 million.&nbsp; Kincora, which is a BVI registered copper and gold exploration company, owns a 100% interest in the Bronze Fox prospect through a wholly-owned Mongolian subsidiary.&nbsp; Origo has also been granted an exclusive option, exercisable prior to June 30, 2011, to increase its shareholding to 75% for an additional consideration of US$12 million. 
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Between 1975 and 1979 Soviet exploration teams trenched and drilled 23 diamond holes totalling 3,453 metres within the licence area.&nbsp; In 2005, Ivanhoe Mines also took rock chip samples, trenched, measured induced polarisation by gradient array and drilled twenty-four shallow diamond holes totalling 6,769 metres.&nbsp; This combined exploration work has identified the carapace of a large copper-gold mineralised system and revealed high potential for additional prospective intrusion-related gold and molybdenum targets.&nbsp; Kincora's drilling campaign, scheduled to begin in mid-September, will target several of these known copper-gold and gold zones. 
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Kincora will be operated by a three person exploration committee comprising two Origo representatives: Origo's Chief Geologist Dr Alan Watchman and Origo's Head of Mining Luke Leslie.&nbsp; As Chairman of the committee, Dr. Watchman, will oversee the exploration programme, under which&nbsp; 5 Origo geologists will be seconded to the Bronze Fox project.&nbsp; Alan Watchman has 38 years experience managing copper-gold and other exploration programs having previously led projects at Breakway Resources, Goldstake Exploration, Abra Mining, Aldershot Resources and Integrated Production Resources.
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SMM Morning Review - 2010/9/14 Zinc Market

reg---origo-partners-plc---investment-in-mongolian-copper-gold-prospect

REG - Origo Partners PLC - Investment in Mongolian copper-gold prospect | SMM

REG - Origo Partners PLC - Investment in Mongolian copper-gold prospect

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