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”

By author: admin - Dec 01, 2010 / Categories: News