Voyager Resources Acquires Major New Copper-Gold Project
“This is a significant transaction which Voyager believes has the potential to be a company making acquisition,” said MD Kell Nielsen on Wednesday.
The company already owns four projects in Mongolia.
Voyager is mobilising a drilling rig to start a drill-out of the project, which has an exploration target of between 100-million and 200-million tons, grading between 0,7% and 1% copper.
The Khongor copper/gold project was previously trenched in 2005 with five trench lines being completed for 277 m. Trenching returned “excellent results”, including 18 m at 1,33% copper and 0,32 g/t gold, and 18 m at 1,84% copper and 0,43 g/t gold.
Drilling has also intersected high-grade copper/gold mineralisation associated with structurally controlled quarters chalcopyrite stockwork veining.
Meanwhile, Voyager said in a statement that it would raise A$2,1-million, by placing 70-million shares at a price of A$0,03c a share, with a free one-for-four attaching option, exercisable at 2c before the end of September 2011.
Read announcement here
“News provided by Monet Investment Bank”