Resilience Mining Mongolia Limited (ASX:RM1)
Resilience Mining Mongolia Limited (ASX:RM1) is focused on investments in Mongolia's exciting minerals sector.
Resilience has entered into a conditional acquisition and joint venture agreement to acquire 80% of all the issued share capital in Kincora Group Limited (KGL), a wholly owned subsidiary of Kincora Copper Limited (ASX:KCC).
Through subsidiaries, KGL owns approximately 321 sq km of Tenements in the highly prospective Eastern Central Asian Fold Belt of Mongolia, comprising two Exploration Licences and one Mining Licence with a pipeline of advanced, some drill ready, and earlier stage gold and copper-gold prospects.
The Tenements in Mongolia, are prospective for exploration for copper and gold and are:
- Bronze Fox Project which hosts the majority of the West Kasulu porphyry deposit for which an Exploration Target has been defined;
- Tourmaline Hills Project which hosts a second and lesser-explored prospective intrusive porphyry complex; and
- Red Well Project which is located about 100 km southwest of Bronze Fox and 25 km north and along trend from the Oyu Tolgoi series of deposits.