Asian Activities Report for July 21, 2011: Zenith Minerals Increase Exploration Target for Mount Alexander Magnetite Iron Project
21.07.2011 | ABN Newswire
12:03 AEST July 21, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.Sydney, Australia (ABN Newswire) - Zenith Minerals Limited (ASX: ZNC) announced an increased Exploration Target for the Mount Alexander West Prospect at the Company's 100% owned Mount Alexander magnetite project in the West Pilbara. The overall Exploration Target now stands at 0.75 - 1.43 billion tonnes after the company has identified a new target of 150 to 230 million tonnes at 20% to 25% Fe at the Mount Alexander West prospect.
Winmar Resources Limited (ASX: WFE) announced a new Inferred Resource Estimate of 241.6Mt at 54.3% Fe for the Winmar Deposit at the Hamersley Iron Ore Project in Western Australia. The estimate is based on the drilling program completed in May 2011, and represents a 70% increase from June 2010 estimate. Mineralisation remains open and further increases are expected.
Southern Cross Goldfields Limited (ASX: SXG) reported a series of thick, near-surface high-grade intersections at the Python gold deposit, part of its 100%-owned Marda Gold Project in Western Australia. The results indicate the potential to enhance the grade of the current Mineral Resource at Python of 859,000 tonnes at 1.9 g/t Au for 52,000 ounces of contained gold.
Cullen Resources Limited (ASX: CUL) has commenced a 5,000-10,000m RC drilling programme on its Canning Basin Coal tenements. The drilling is designed to gain an understanding of the stratigraphy and to explore for coal on the tenements. Cullen will also look for phosphate, manganese as well as lead-zinc mineralization.
Gammon Infrastructure Projects Limited (BOM: 532959) has achieved financial closure of the Paradip Iron Ore Terminal Project, which envisages construction and equipping of a berth to handle an annual throughput of 10 million tonnes of iron ore. The Company has 31% equity stake in Blue Water Iron Ore Terminal Private Ltd., the special purpose vehicle implementing the project.
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