Australian Market Report of Nov 26, 2010: Corazon - Expands Base Metal Projects in Canada
26.11.2010 | ABN Newswire
Sydney, Australia - Corazon Mining Limited (ASX: CZN) acquires additional exploration projects contiguous with its Lynn Lake Nickel Sulphide Project in Canada. Ground includes several nickel sulphide geophysical targets as well as the Eldon East zinc-copper-silver volcanogenic massive sulphide (VMS) deposit. The company is now the largest landholder in the camp, controlling six drill defined zinc-copper VMS deposits in addition to its flagship nickel/copper sulphide assets. Work is currently underway to validate quality of historical work and rank these deposits for on-going exploration.YTC Resources Limited (ASX: YTC) announced further strong copper results from its ongoing drilling programme beneath the historic Nymagee Copper Mine in NSW. High grade results were recorded including 11m at 3.7% Cu and 15.7g/t Ag from 401m and 15m at 1.6% Cu and 7.2g/t Ag from 346m. The drilling beneath the Nymagee Copper Mine has now defined good continuity of high-grade copper mineralisation over 200m of strike. The next stage of drilling will include infilling this zone and defining the mineralisation at depth.
Apollo Minerals (ASX: AON) has completed its four-hole reverse circulation drilling programme at the Mount Oscar Magnetite Project in Western Australia. A total of 721 metres were drilled to test a portion of the magnetite-bearing banded iron formation which had not been previously drill-tested. Three of the four holes drilled successfully intersected the banded iron formation with down-hole intersections ranging from 66m to 111m, probably representing true widths from 50m to 85m. Metallurgical results of the samples are expected in the first quarter 2011.
Ampella Mining Limited (ASX: AMX) said today that deeper drill results have confirmed continuity of gold mineralisation at depth below 100m vertical on the Konkera 1.2Moz JORC Code Compliant Inferred Gold Resource. Gold assays are now being received for drilling of deeper extensions to mineralisation below 100m vertical at Konkera North, Konkera Main and Konkera East as part of an intensive A$13 million exploration program for 2010 at the Batie West Project in Burkina Faso, West Africa.
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