Asian Activities Report for July 13, 2011: Crossland Uranium Mines Report Encouraging Results from Charley Creek Rare Earth Project
13.07.2011 | ABN Newswire
12:00 AEST July 13, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.Sydney, Australia (ABN Newswire) - Asian markets had a mixed opening but all grew stronger at midday. The S&P/ASX 200 rose 0.15% to 4502.4. Nikkei 225 was up 0.01% to 9,926.81. Hang Seng Index gained 0.64% to 21802.15, while Shanghai Composite rose 0.51% to 2768.56.
Company News
Crossland Uranium Mines Limited (ASX: CUX) reported encouraging results from Charley Creek Rare Earth Project in Northern Territory. Eight key areas that show widespread and strongly anomalous rare earth elements have been identified. The Company is advancing towards an initial resource estimate which is now expected during the current September quarter. The outlook for Charley Creek to produce high-grade rare earth elements concentrates is favourable.
Marmota Energy Limited (ASX: MEU) announced significant assay results from its 100% owned Western Spur project in South Australia. Grades up to 55.45% Fe were returned, and consistent iron thickness at depth has been confirmed. The Company plans to carry out geophysical surveys to better define the extent of potential iron and manganese mineralisation. This data will be used to identify targets for drill testing.
Cokal Limited (ASX: CKA) has signed an agreement with Mozambique National Mining Corporation to jointly develop coal projects in Mozambique. Cokal will have 80% ownership of the joint venture company and will provide funding for exploration over 3 years. Cokal has also signed a joint venture to explore for coal in Tanzania with Tanzoz Resources.
Manas Resources Limited (ASX: MSR) reported further results from the 2011 drilling campaign at its 100%-owned Shambesai Gold Project in the Kyrgyz Republic. 33.7m at 10.74g/t gold was returned, demonstrating the presence of high-grade mineralisation. The drill program has been extended to test the extent of high-grade zones. The Feasibility Study including a resource estimate upgrade for the project is progressing well and will be completed in late 2011.
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