Wednesday, June 15, 2011

Voyager compares Oyu Tolgoi to its Khongor project in Mongolia

Australian-listed Voyager Resources believe its forthcoming deep drilling will unlock the potential of its Khongor copper-gold project in Mongolia, 250 km to the west of the giant Oyu Tolgoi project.

Its managing director, Kell Nielsen, draws parallels to Ivanhoe Mines’ early deep drilling at Oyu Tolgoi in 2001. "We own it 100%. This is our main project. We went to Mongolia to acquire a project like this and spent two years looking. We started negotiations in Mongolia when we were pretty much one of the only Australian groups. There’s a big rush on now. There’s news coming out now that people are looking for projects in Mongolia – not acquired – but looking,” he told the Australian Journal of Mining.

Khongor’s drilling results from 2005, under the project’s previous owner, included fairly broad porphyry mineralisation with one hole returning 50 m @ 1.0% copper and 0.3 g/t gold from 64 m and another 70.3 m at 0.7% copper and 0.2 g/t gold from surface. High grade stock-works were also found, including 5 m at 2.6% copper and 0.87 g/t gold from 44 m and 14.1 m at 2.4% copper and 0.64g/t gold from 69.9 m.

Plans are in hand to progress exploration with funds earmarked for deep IP work. Voyager has a target of 100 to 200 Mt at 0.7% to 1.0% copper.

No comments: