Asian Activities Report for August 8, 2011: Laconia Resources to Form Joint Venture with Chinese Investment Group for Mooletar Iron Ore Project
08.08.2011 | ABN Newswire
Sydney, Australia - Laconia Resources Limited (ASX:LCR) has entered into a joint venture agreement with Chinese syndicate, Sinoz Mining Investment Group, for the exploration and development of the Mooletar Iron Ore Project in Western Australia. Under the Joint Venture Agreement, Sinoz will invest A$7.5 million within 24 months, over three stages to deliver a JORC Code Indicated Resource and Mining Licence at the project. The Mooletar project currently has defined an Exploration Target of 216-264 million tonnes of iron ore.Altura Mining Limited (ASX:AJM) announced an initial JORC Mineral Resource estimate of 10.5 million tonnes at 1.25% Li2O at its Pilgangoora Lithium project in Western Australia. In addition Altura has further upgraded the current exploration target to 18-25 million tonnes at 1.3-1.6% Li2O. Further drilling has commenced to significantly increase the resource estimate.
White Rock Minerals Limited (ASX:WRM) has received additional high grade silver assays from recent drilling at the Lady Hampden silver prospect on the its 100%-owned Mt Carrington project in northern New South Wales. Mt Carrington contains an overall shallow Inferred Resource of 190,000 ounces of gold and 10 million ounces of silver. The current drilling provides strong support for potential growth of the Resource and will continue throughout August.
Voyager Resources Limited (ASX:VOR) has received initial assay results from the first three Reverse Circulation drill holes completed on the Cughur Discovery at the KM Copper Porphyry Project in southern Mongolia. The drill holes confirm a major new high grade copper discovery which remains open at depth and along strike. Drilling continues on the Project, with numerous other targets being tested.
India's real estate developer Godrej Properties Limited (BOM:533150) has entered into an agreement with Jet Airways Limited (BOM:532617) to develop Jet Airways's property in Mumbai. Godrej will develop approximately one million square feet of office building to be completed in a three year period. The building will be developed to the highest design, construction and sustainability standards.
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