Australian Market of September 9, 2010: Aspire - Testwork Results Confirms High Quality Coal at Ovoot Project
09.09.2010 | ABN Newswire
Sydney, Sept 9, 2010 - Aspire Mining Limited's (ASX: AKM) initial raw coal quality testwork results continue to confirm high quality coal at Ovoot Coking Coal Project, located in the Khuvsgul Province in Northern Mongolia. Raw coal results to date are consistent with high quality metallurgical coals in both the upper and lower coal seams. Aspire today announced the results of coal quality testwork conducted on 62 samples at the SGS Laboratories in Tianjin, China. These 62 samples reflect sampling from 3 holes, DH 218, 210 and 220 from the company's JORC Compliant Coal Resource Drilling Programme which commenced in late April 2010.WA nickel explorer Condor Nickel Limited (ASX: CNK) exploration drilling continues to indicate the potential for a significant iron ore resource at its Dingo Range Project. Recent work at Dingo Range has included drilling and additional surface rock chip sampling, the geology of the Target Areas includes a Banded Iron Formation which has significant continuity within the Dingo Range greenstone belt and is the probable source of the secondary iron surface enrichment. The Dingo Range project is located some 450 kilometres north of Kalgoorlie-Boulder and 150 kilometres south east of Wiluna.
Mirabela Nickel Limited (TSX: MNB) (ASX: MBN) has priced an institutional bookbuild to raise US$165 million. The Global Offer is being privately placed with institutional investors in Australia, Canada and internationally and was priced at A$1.60 (C$1.52) per share. The successful completion of this equity raising will materially reduce the Company's financial indebtedness and provide Mirabela with a strong platform for future growth, and will also allow Mirabela to move forward with the continued ramp-up of operations at Santa Rita, commented Ian Purdy, CEO.
IMX Resources Limited (ASX: IXR) has reported new nickel-copper intersections from 2010 diamond drilling completed at the Nachingwea project in southern Tanzania. The project is a 30:70 Joint Venture between IMX Resources and Continental Nickel Limited (CVE: CNI) of Canada. These new intersections have extended the previously defined Ntaka Hill Ni-Cu sulphide mineralisation beyond the boundaries of the 2009 Mineral Resource model. The 2010 diamond drilling programme at Nachingwea is now complete with 36 holes drilled for a total of 4,988.8 metres of diamond core.
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