overview

SMALL LOCAL EXPLORER MAKES MAJOR COPPER FIND IN MONGOLIA

Sydney - Tuesday - August 9: (RWE Aust Business News)
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OVERVIEW
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Voyager Resources Ltd (VOR:ASX) reports that its latest drill
holes confirm a major new high-grade copper discovery in the south Gobi
region of southern Mongolia.
The company told the ASX that initial assay results have been
received from the first three Reverse Circulation (RC) drill holes
completed on the Cughur discovery at the KM copper porphyry project.
All three (80m deep) RC holes ended in high-grade copper
mineralisation.
Results include:
* 66 metres at 1.48pc copper and 5.4 g/t silver from 14 metres to
end of hole (KM0011RC);
* 50 metres at 3.51pc copper and 10.8 g/t silver from 30 metres
to end of hole (KM0012RCD); and
* 10 metres at 4.06pc copper and 16.2 g/t silver from 70 metres
to end of hole (KM0013RCD).
Two RC holes have recently been extended by diamond core drilling
with copper mineralisation of varying intensity being geologically logged
as follows:
* KM0012RCD, strong chalcocite to 86.5 metres with weaker
chalcocite and moderate chalcopyrite to 156 metres depth; and
* KM0013RCD, strong chalcocite to 84.0 metres with weaker
chalcocite and moderate chalcopyrite to 118 metres depth.
The Cughar discovery remains open at depth and along strike.
Further geological mapping of the Cughar discovery has extended
the alteration zone to an area covering 4.6 x 1.6 kms.
Three drilling rigs are now operating on the KM copper porphyry
project, with numerous other targets being drill tested.
To date 40 RC holes and three diamond tail extensions have now
been completed over four separate prospects for over 4,000 metres of
drilling.
Many drill holes are intersecting porphyry style copper
mineralisation over broad intervals.
Drilling is continuing to focus on the Cughur prospect area where
drilling has intersected broad expanses of mineralised quartz tourmaline
breccias (>100 metres).
Voyager is fully funded with $9.67 million in cash reported at
the end of the June quarter.
As a result of the positive indications from the initial and
current drilling, the company has expanded the planned RC drilling
program and fast tracked two diamond core drill rigs to site to test
high-order anomalies identified in the recent geophysical and geological
mapping programs.
The rigs will also complete diamond tails on the RC holes that
have ended in high-grade copper mineralisation.
Already diamond core extensions on KM0012RCD & KM0013RCD have
intersected broad continuing copper mineralisation comprised of
chalcocite and chalcopyrite beneath the currently assayed RC intervals to
approximate depths of 150 metres.
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
four kilometres.

SHARE PRICE MOVEMENTS
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Shares of Voyager Resources yesterday rose 0.7c to 5.6c and
touched 6.5c during the session. Rolling high for the year is 13.41c and
low 1.09c. All-time high is 30.88c. The company has 972.4 million shares
on issue with a market cap of $53.4 million.
Drilling has intersected weak to moderate disseminated sulphide
occurrences (predominantly pyrite plus chalcopyrite) and minor
chalcopyrite veining in altered rocks above the target zone.
Ongoing geological mapping has continued to outline occurrences
of quartz tourmaline breccias that contain copper oxide minerals, mainly
malachite and azurite that occur within a leached alteration zone.
This zone now extends over an area covering 4.6 by 1.6 kms and is
coincident with a low-gravity response and the northern edge of a more
extensive gradient IP anomaly that is currently being drilled at the IP
East prospect.
In addition to the reconnaissance mapping, the company recently
completed planned IP gradient array and gravity geophysical programs.
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.
Only 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.

BACKGROUND
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Voyager Resources re-listed on the ASX in September 2009 with the
goal to create a sustainable exploration and development business focused
on copper gold and gold resource opportunities, utilising a management
team that has a proven track record of acquiring and developing mineral
projects throughout the world.
Since listing, the Board has acquired a number of quality
copper-gold and gold projects that will allow the company to grow
rapidly.
This has culminated in the acquisition of the Khongor copper-gold
porphyry project that is situated in a similar geological setting to the
world-class Oyu Tolgoi copper-gold development.
Voyager plans to aggressively explore and develop resources at
the Khongor copper-gold project this year as well as further develop its
other projects.
Geographically, Mongolia is bordered by both Russia (north) and
China (south, east and west) and is within 40 kms of Kazakhstan.
In 1911 Mongolia declared independence from China but Chinese
troops occupied the country.
In 1920 Russian troops invaded Mongolia and defeated the
occupying Chinese forces. In 1921 Russia declared Mongolia an independent
state.
The 1990s saw a shift to democracy with Presidential elections
being held in 1993 and Parliamentary elections in 1996.
Mongolia's total population is in the order of three million
people.
Mining and agriculture are key contributors to Mongolia's
economy. Mongolia's mineral resources include gold, copper, molybdenum,
tin, tungsten, and coal.

Reuters.