discovery of a huge porphyry system, page-158

An 84 metres @ 3.2% copper and 9.7 g/t silver, that would make around 4% copper equivalent (CuEq), pls correct if I'm wrong as we need to take into account silver as bonus.

So far they reported the following results for the first part of drilling program, with further analytical results from the Cughur Discovery and extents to higher grade chalcocite mineralisation are expected:

84 metres @ 3.2% copper and 9.7 g/t silver
34 metres @ 3.4% copper and 14.7 g/t silver
75 metres @ 2.4% copper and 5.7 g/t silver
26 metres @ 2.2% copper and 7.6 g/t silver
110 metres @ 1.0% copper and 2.7 g/t silver
54 metres @ 1.0% copper and 2.1 g/t silver

72 metres @ 0.9% copper and 3.1 g/t silver
72 metres @ 0.6% copper and 0.5 g/t silver

We don't know at this stage how are the depth and quality of the KM porphyry system but we do know that the above results are just from an intial phase of a planned 10,000m exploration program of RC and diamonds core drillings, and to date only 40 drill holes have completed.

..Many holes intersecting copper mineralisation comprising chalcocite and chalcopyrite.

They also reported that geological mapping of Cughar Discovery has extended the alteration zone to an area covering 4.6km x 1.6km

And the best is probably to come with IP East Diamond Drilling:

- In addition to the RC and diamond drilling being conducted at the Cughur discovery, a deep diamond hole is currently being drilled at IP East. This hole has been designed to
drill across a broad and intense Induced Polarisation (IP) chargeability anomaly that extends for over 4 kilometres. This hole is currently at a depth of approximately 250 metres of a planned final depth of greater than 700 metres.

A strike covering 4.6km x 1.6km @ 700m depth look very promising considering the initial results and the location in southern regions of Mongolia, where is sitting the world's largest mineral hunt Oyu Tolgoi:

Oyu Tolgoi @ South Gobi : a 5.6km Chain of Deposits, with depth up to above 1,500m (results May 2004)

Hugo North Deposit
-Inferred resources of 666 million tonnes, grading 1.46% copper and 0.34 grams of gold per tonne (a copper equivalent grade of 1.68%), at 0.60% copper equivalent cut-off

Hugo North and Hugo South deposits
-Total inferred resource at the entire, 2.6-kilometre-long Hugo Dummett Deposit (Hugo North and Hugo South) now stands at:
1.16 billion tonnes grading 1.29% copper and 0.23 grams of gold per tonne (a copper equivalent grade of 1.44%) at a 0.60% copper equivalent cut off.

More upside for VOR to be expected as 4 drill rigs on site and there are more analytical results to come.

Don't forget VOR is fully funded with $9.67 million in cash reported at the end of the June quarter.

Is it of too much ramping ??

Cheers,