Australian Market Report of November 11, 2010: Southern Hemisphere - Announce Positive Copper And Gold Results in Chile
11.11.2010 | ABN Newswire
13:30 AEST Nov 11, 2010 ABN Newswire (C) 2004-2010 Asia Business News PL. All Rights Reserved.Sydney, Australia (ABN Newswire) - Southern Hemisphere Mining Limited (ASX: SUH) (CVE: SH) reported positive sampling results within its extensive portfolio of copper and copper-gold projects in Chile. Copper grades of up to 3.45% were received at the El Arrayan Project and highest gold grade of 14.0 g/t Au were encountered at the Mantos Grandes project. The new results have reinforced the prospectivity of both projects and provide immediate, easy access drilling targets to be included in the forthcoming drilling programme.
Ishine International Resources Limited (ASX: ISH) has commenced 1,300 metre Reverse Circulation drilling at the Mt Watson Copper Project in Queensland. 11 holes are planned at the project which lies adjacent to the Mt Watson copper oxide open pit mine (8.01mt @ 0.9% Cu) which was operated by Matrix Metals (ASX:MRX) up to late 2008. The company will also commence diamond drilling shortly at its Boomarra Project in Queensland targeting Iron Ore Copper Gold mineralisation.
NT Resources Limited (ASX: NTR) has received the assay results from reconnaissance rock chip sampling and mapping at the new De Monchaux Creek prospect in the Acacia Project in Northen Territory. High grade gold to 21.8g/t Au were confirmed. Regional sampling has also identified encouraging anomalous gold and base metal values, suggesting there is a large mineralised system with good regional potential for further discoveries. Further research is underway to locate historical trenches and drill holes prior to the design of a drilling programme.
Platina Resources Limited (ASX: PGM) announced interim assay results from recently completed diamond drill-hole FKD10-109 at the 100% owned Owendale Project, NSW. A highly significant 16m thick poly-metallic mineralised zone was intersected at 12m drilled depth. The zone grades 479g/t scandium, 0.5g/t platinum, 0.1% nickel, 0.1% cobalt and 0.4% chrome. This is believed to represent Australia's best ever scandium intersection.
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