Bronze Fox Drilling Yields 26m at 0.91% CuEq and 486m at 0.21% CuEq

Orbminco’s Maiden Drilling Success

Orbminco Limited (ASX: OB1) has announced promising results from its inaugural diamond drilling campaign at the Bronze Fox Copper-Gold Porphyry Project, located in the prolific Southern Gobi copper-gold belt of Mongolia. The 2024 program, comprising 16 holes totaling 2,516 meters, was designed to infill and extend the existing West Kasulu resource, originally delineated by Kincora Copper Limited.

The standout intercepts include a 26-meter section grading 0.91% copper equivalent (CuEq) from just 14 meters depth, highlighted by a 12-meter interval at 1.57% CuEq and a remarkable 2-meter zone at 8.29% CuEq. Another significant result is a 486-meter intercept averaging 0.21% CuEq from 352 meters, with multiple higher-grade sub-intervals. These results underscore the potential for both lateral and depth extensions of mineralisation within the Bronze Fox Intrusive Complex.

Geological Context and Metallurgical Outlook

The West Kasulu deposit is hosted within monzodiorite and granodiorite intrusives, with mineralisation typical of porphyry copper-gold systems. Orbminco draws parallels with the nearby Kharmagtai deposit, operated by Xanadu Mines, which shares a similar geological setting less than 100 kilometers away. Preliminary metallurgical test work from Kharmagtai suggests recoveries of 90% copper and 78% gold, with molybdenum recoveries assumed at 60%. Orbminco plans further metallurgical testing to confirm these assumptions for Bronze Fox.

Strategic Implications and Next Steps

Orbminco’s Managing Director, Ralf Kriege, emphasised the significance of these results in confirming high-grade potential and resource extensions both at depth and laterally. The company intends to leverage this data to design an expanded 2025 exploration program, targeting resource extensions to the west and testing other high-priority targets including the Tourmaline Hill and Shuteen North intrusive complexes.

Importantly, Orbminco holds an earn-in agreement with Kincora Copper Limited, allowing it to acquire up to an 80% interest in the Bronze Fox Project by spending US$4 million over five years, with an option to secure 100% ownership. The recent drilling results will also support the conversion of exploration licenses to mining leases, a critical step towards advancing the project towards development.

Data Integrity and Reporting Standards

The drilling program adhered to rigorous industry standards, including detailed geological logging, QA/QC protocols with standards and duplicates, and precise collar surveying. While true widths of mineralisation remain uncertain, drilling orientations were planned to intersect mineralised structures perpendicularly to maximize representativity. The company has transparently disclosed that further metallurgical test work may adjust recovery assumptions, reflecting a prudent approach to resource evaluation.

Overall, these results mark a significant milestone for Orbminco, validating the potential of the Bronze Fox Project as a substantial copper-gold porphyry deposit with promising grades and scale.