Asian Activities Report for May 10, 2011: BKM Management (ASX:BKM) To Acquire Potash And Rare Earth Projects In Western Australia
Sydney, Australia (ABN Newswire) - BKM Management Limited (ASX:BKM) has entered into an investment agreement to acquire a 30% interest in ORD River Diamonds Pty Ltd which has 100% ownership of exploration tenements in the Pilbara and Greenbushes areas in Western Australia. The tenements host potash, tin, lithium and rare earth minerals. ORD River Diamonds is planning to seek a listing on the Australian Securities Exchange later this year to raise a minimum of A$4 million for project development.
Catalyst Metals Limited (ASX:CYL) has intersected shallow high grade gold mineralisation at Four Eagles Gold Project in central Victoria. Best results include 3.0 metres at 3.3g/t Au and 3.0 metres at 14.7g/t. Mineralisation has been extended by another kilometre. Before the end of 2011, the company will conduct aircore drillings to test the entire 25km trend.
Centrex Metals Limited (ASX:CXM) announced an initial 103Mt Inferred Magnetite Resource grading 68.5% Fe concentrate at Bungalow deposit in South Australia. The Exploration Target for the combined Bungalow and Minbrie deposits has increased to 530Mt-750Mt. The Company will commence Stage 2 drilling program to further define the resource.
Beadell Resources Limited (ASX:BDR) announced the results of the Definitive Feasibility Study for its 100% owned Tucano Gold Project in Brazil. The first gold production is expected in the March 2012 quarter and an EPCM contract is currently being finalised. Average annual production is estimated at 150,000 ounces of gold.
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