Australian Market Report of April 7, 2011: Uranex NL Commence Exploration At Songea Coal Project In Tanzania
07.04.2011 | ABN Newswire
12:00 AEST Apr 7, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.Sydney, Australia (ABN Newswire) - Uranex NL (ASX: UNX) has commenced an exploration program at its 100% owned Songea Thermal Coal Project in Southern Tanzania. The Project covers 3,500km2 and is adjacent to two substantial coalfields with published resources exceeding 1 billion tonnes. The exploration program is designed to confirm coal seams for planned drilling in June 2011.
Canyon Resources Limited (ASX: CAY) has identified significant gold, copper and other base metal anomalies at the Taparko North Project in Burkina Faso. Initial drill results returned peak values of 0.33% Cu and 0.2% Zn along a 2.6km corridor which remains open along strike. Drilling will continue to test the multi-element anomalies to explore the potential of the significant gold and base metal resources.
Perseus Mining Limited (ASX: PRU) has drilled a record 47,322m during the March quarter at the Central Ashanti Gold Project in Ghana. Significant results confirmed the continuity of the gold mineralisation at depth. The Company is well ahead of schedule to complete 150,000m of planned drilling in Ghana this year and will focus on growing its gold reserves from 3.3Moz to 4Moz.
Diatreme Resources Limited (ASX: DRX) said today that a delegation from China's BaoTi Group Limited completed a successful site visit to Diatreme' Cyclone Heavy Mineral Project in late March. The visit successfully answered all questions and concerns that BaoTi expressed and validated Cyclone Deposit as a significant zircon resource on a world scale. Subject to a successful due diligence, the two parties are aimed to finalize a binding Heads of Agreement by the end of June 2011 and a Project Agreement in December 2011.
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