Canada’s mining industry brightened yet again Monday, with the news that Vancouver-based Kincora Copper Ltd. (TSX-Venture: KCC) reported the assay results of the first hole at the Trundle project in Queensland, Australia, within the Trundle Park target which has returned multiple significant intervals of gold and copper mineralization.
Readings included 51 metres @ 1.17 g/t gold and 0.54% copper from 39m, including; 20.5m @ 1.94 g/t gold and 1.18% copper from 57.6m, including; eight metres @ 3.07 g/t gold and 1.95% copper from 57.6m, and 2.2m @ 4.32 g/t gold and 2.43% copper from 75.9m.
Company officials cheered: "We are extremely pleased and excited by the results of this first hole, it is not often you see such high grades near surface within a porphyry environment.”
Investors behaved as though they couldn’t wait to get the trading week started, with a hike in price of 1.5 cents, or 10.3%, to 16 cents, on gratifying volume of 729,000.
