JOHANNESBURG (miningweekly.com) – Gold explorer Voyager Resources has initiated a due diligence study on the Tsagaan Chuluut gold project, in Mongolia, in which it had the option to acquire an 80% stake.

The Tsagaan Chuluut project is 3 971 ha in size, and is situated in the Domod Volcanic Tectonic Belt, which hosted several active gold placer mining operations.

Voyager said in a statement on Monday that the Tsagaan Chuluut project includes gold-rich epithermal and porphyry copper cold. The company believed that the mineralization identified at Tsagaan Chuluut bore a resemblance to several of the gold deposits in the Maricunga gold belt, in Chile.

Five separate mineralised zones have been identified within the project area to date, and 15 reverse circulation drill holes, and one diamond core drill hole had been completed.

Voyager noted that the drilling had intersected broad zones of porphyry gold mineralisation from surface, including 124 m at 0,44 g/t gold, and 138 m at 0,38 g/t gold.