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EXCEPTIONAL DISCOVERIES CONTINUE AT KM
Voyager Resources is extremely pleased to announce a further discovery at its KM Copper Porphyry Project (“Project”), in the South Gobi Region of southern Mongolia.
Initial assay results have been received from the first diamond drill hole completed on the Aranjin Discovery. This result along with previously announced intersections from Cughur and Gaans Discoveries sees Voyager Resources continuing to drill some of the best copper mineralisation reported in Mongolia, external to the Giant Oyu Tolgoi Copper Deposit.
The first assays from drilling at the Aranjin Discovery, the third shallow hydrothermal breccia discovery at the KM Project has returned an outstanding result:
? 168 metres at 0.74% copper and 5.4 g/t silver from 76 metres (KM0124D), including:
? 36 metres at 2.07% copper and 16.2 g/t silver from 86 metres
In addition to this, further results have now been received from drilling completed at the Cughur and Gaans Discoveries. These results continue to confirm the KM Copper Project as the major new high grade copper discovery in Mongolia, and include:
Cughur:
18 January 2012
Gaans:
? 115 metres at 1.5% copper and 2.9 g/t silver from 26 metres (KM0057RCD)
? 58 metres at 1.2% copper and 4.3 g/t silver from 36 metres (KM0055RC)
? 52 metres at 1.5% copper and 3.6 g/t silver from 28 metres (KM0064RCD)
? 72 metres at 1.2% copper and 8.8 g/t silver from 14 metres (KM0083D)
? 64 metres at 0.8% copper and 3.3 g/t silver from 2 metres and 32 metres at 1.2% copper and 3.3 g/t silver from 124 metres (KM0091RCD)
It has been deduced that a porphyry stock or cluster of porphyry stocks, exists at the KM Copper Project which act as feeders to these shallow hydrothermal breccias. Voyager recently commenced a separate drill programme aimed at identifying the porphyry stock or stocks.
Voyager has placed an Exploration Target* of between 50 and 150 million tonnes at between 0.8 and 1.5% copper on the hydrothermal breccias at the KM Copper Project. This Exploration Target does not include the larger Copper Porphyry Stock targets.
Mineralisation has also been intersected in drilling on a further two hydrothermal breccia prospects, namely Gaans North and Zam Daguukh and a sheeted vein system at the Elstei Prospect.
Voyager has completed 173 RC drill holes, 48 diamond core drill holes and 19 diamond core drill tails on the project. Ongoing exploration and drilling continues to strengthen Voyager’s belief that the KM Copper Project is an exceptional porphyry copper project.
Hydrothermal Breccia Copper Sulphide Mineralisation
Voyager believes that significant mineralisation intersected in drilling conducted to date at Cughur, Gaans, Aranjin, Gaans North and Zam Daguukh indicates the presence of a deeper mineralised porphyry copper system.. The porphyry system has been partly unrooted by weathering and erosion, partially exposing the hydrothermal breccias and an extensive and intense porphyry alteration system near Cughur.
These magmatic hydrothermal breccias are formed by the overpressured release of fluids rich in copper ± gold ± silver, and are believed to have formed during an emplacement of a copper porphyry system at depth. Hydrothermal breccias are usually pipe like in dimensions that form irregular bodies. They are common to many giant porphyry copper systems including El Teniente, Los Bronces-Rio Blanco and Los Sulfatos (all greater than five billion ton deposits).
In addition to Cughur, Gaans, Aranjin, Gaans North and Zam Daguukh, Voyager has identified numerous occurrences (greater than 20) of outcropping and subcropping mineralised hydrothermal breccia’s at surface (Figure 2) that penetrate the more spatially distributed “Mega Breccia” complex that has been previously outlined.
Voyager has placed a combined Exploration Target* on these hydrothermal breccia’s of 50 to 150 million tonnes at a grade of 0.8% to 1.5% copper, representative of the multiple occurrences identified to date and completed drilling intersecting substantial widths of greater than 100 metres at Cughur, Gaans and Aranjin.
KM Copper Project
(Voyager 80%)
Summary
Voyager Resources has continued with an aggressive exploration programme at the KM Copper Porphyry Project in the South Gobi region of Mongolia. Voyager currently has three diamond core rigs operating on site, having recently suspended the RC drilling rigs due to reduced air drilling capacity caused by the colder winter conditions.
Two of the diamond core rigs are now focused on drilling for two individually targeted copper porphyry stocks, whilst the third diamond rig continues to operate on the shallow high grade hydrothermal breccia systems of Cughur, Gaans, Aranjin, Gaans North and Zam
Daguukh prospects. This will facilitate planning for the recommencement of RC drilling in March and assist with the calculation of initial resources before the end of June, 2012.
Drilling continues to intersect some of the best copper mineralisation reported in Mongolia outside of the giant Oyu Tolgoi deposits (approximately 3.75 billion tonnes at 0.98% copper and 0.38 g/t gold**) with results to date remaining highly encouraging from the discoveries of Cughur and Gaans and now Aranjin. In addition, broad intersections of copper mineralisation have been identified in recent drilling at the two additional prospects of Gaans North and Zam Daguukh, plus the sheeted vein system at Elstei.
Delayed analytical results from the sample backlog at the laboratory are expected to be cleared over the coming weeks with approximately 50% of the completed drill holes to date remaining outstanding..
Aranjin Prospect
The Aranjin prospect is located approximately one kilometre to the northeast of the Cughur Discovery. The prospect comprises four large outcrops of quartz tourmaline breccia where rock chip sampling has returned up to 2% copper.
Aranjin is located on the same interpreted structure as Cughur.
To date Voyager has completed 29 RC holes, 3 diamond holes and 3 RC holes that have been diamond tailed. Drilling at Aranjin has intersected some of the widest intersections of mineralised hydrothermal breccia reported to date on the KM Project, including:
? 168 metres at 0.74% copper and 5.4 g/t silver from 76 metres (KM0124D), including:
? 36 metres at 2.07% copper and 16.2 g/t silver from 86 metres Further drilling has also intersected broad copper mineralisation, with analytical results
pending. This includes:
? 103 metres from 63 metres at (KMR0015RCD) Cughur Prospect
To date Voyager has completed 41 RC holes, 12 diamond core holes and 16 diamond core tailed RC holes.
Drilling continues in a limited capacity at the Cughur Discovery. This is mainly due to recent slow turnaround of analytical samples and the success of drilling at Gaans and Aranjin.
Aranjin – Chalcopyrite Mineralisation (KM0124D-98m)
Voyager has received further analytical results from Cughur, although a backlog of 11 holes remains.
Results include:
? 58 metres at 1.2% copper and 4.3 g/t silver from 36 metres (KM0055RC) ? 115 metres at 1.5% copper and 2.9 g/t silver from 22 metres (KM0057RCD) ? 82 metres at 0.7% copper and 2.9 g/t silver from 32 metres (KM0058RCD) ? 80 metres at 0.6% copper and 2.1 g/t silver from 44 metres (KM0059RCD) ? 56 metres at 0.6% copper and 2.7 g/t silver from 40 metres (KM0060RC) ? 52 metres at 1.5% copper and 3.6 g/t silver from 28 metres (KM0064RCD) ? 72 metres at 0.6% copper and 0.9 g/t silver from 28 metres (KM0065RC) ? 78 metres at 0.5% copper and 1.4 g/t silver from 54 metres (KM0072RC)
Past reported results at Cughur include:
? 68 metres at 1.4% copper and 5.4 g/t silver from 14 metres (KM0011RCD) ? 118 metres at 2.4% copper and 13.1 g/t silver from 14 metres, including ? 86 metres at 3.1% copper and 9.5 g/t silver from 14 metres (KM0012RCD) ? 130 metres at 0.9% copper and 2.5 g/t silver from 22 metres (KM0042RCD) ? 75 metres at 2.4% copper and 5.7 g/t silver from 48 metres (KM0050RCD) ? 34 metres at 3.4% copper and 14.7 g/t silver from 92 metres (KM0053RCD) ? 58 metres at 1.2% copper and 4.3 g/t silver from 36 metres (KM0055RC)
Gaans Prospect
The Gaans Discovery is located approximately 2.5 kilometres east of the previously reported Cughur Discovery and is believed to be hosted in a similar magmatic hydrothermal breccia as Cughur. To date Voyager has completed 26 RC holes, 15 diamond holes and 5 RC holes with diamond core tail at Gaans. Partial assay results have been returned for one diamond hole and two RC holes. These results have been highly encouraging returning:
? 52 metres at 0.7% copper and 5.6 g/t silver from 28 metres (KM0076D) ? 34 metres at 0.5% copper and 4.9 g/t silver from 14 metres (KM0078D) ? 26 metres at 0.8% copper and 12.5 g/t silver from 34 metres (KM0081D) ? 72 metres at 1.2% copper and 8.8 g/t silver from 14 metres (KM0083D) ? 64 metres at 0.8% copper and 3.3 g/t silver from 2 metres and
? 32 metres at 1.2% copper and 3.3 g/t silver from 124 metres (KM0091RCD) Past reported results at Gaans include:
? 46 metres at 1.1% copper and 14.1 g/t silver from 16 metres (KM0068D) ? 40 metres at 0.84% copper and 4.4 g/t silver from 20 metres (KM0074RC)
Diamond core drilling has identified significant brecciation though no strong visual indications of this exist at surface. The Gaans Prospect appears to be well outlined by a significant low in the ground magnetics which is believed to have been caused by magnetite destruction as a result of the alteration and mineralisation process.
Mineralisation at Gaans comprises copper sulphides, namely chalcopyrite and chalcocite occurring with bornite, tetrahedrite, and pyrite. Tourmaline is a common accessory mineral and replaces the matrix of the diorite in some holes that the breccia has been intruded in to. Matrix replacement and magmatic brecciation textures suggest that the mineralisation is contemporaneous with the emplacement or cooling of the diorite.
Alteration at Gaans provides a significant vector to the larger porphyry system at KM, with rocks occurring proximal to the system being rich in magnetite and magnetite destruction occurring within the altered and mineralised areas.
KM Copper Project Background
The KM Copper Gold Project is located in the Edrene Island Arc Terrain, which is one of a number of tectonic terrains that extend across the Gobi and southern regions of Mongolia, which have been proven to host a number of mineralised porphyry systems, including the giant Oyu Tolgoi Deposit.
Although limited exploration has been conducted over the project to date, results have been highly encouraging and support Voyager’s belief that KM has the potential to host a significant copper porphyry system.
The Cughur, Gaans and now the Aranjin copper discoveries are an exceptional result for Voyager shareholders and rates as some of the best copper drilling results in Mongolia since the discovery of the giant Oyu Tolgoi copper gold deposits. KM is an exceptional porphyry copper project that has the potential to be a company making asset for Voyager as the company progresses its exploration efforts.
Kell Nielsen Managing Director