Asian Activities Report for August 12, 2011: Strategic Elements (ASX:SOR) Announce Rare Earths Expansion to Ireland and Immediate Focus on New Zealand
Sydney, Australia (ABN Newswire) - Newly ASX-listed rare earths company Strategic Elements Limited (ASX:SOR) has expanded its search for rare earths and rare metals to Ireland by applying for six prospecting licenses for exclusive rights to rare earths, rare metals and gold covering 150 square kilometres. However, the company's immediate focus is in New Zealand. It has exclusive coverage of over 875 square kilometres of ground where the Company is seeking to prove a new rare earths/metals province.
Dragon Mining Limited (ASX:DRA) has received the first results from the drilling campaign on the Hangaslampi gold deposit at the Kuusamo Gold Project in northern Finland. Analysis of four holes has returned a series of intercepts, including 5.00m at 3.40 g/t gold, 2.50m at 9.33 g/t gold and 4.70m at 2.11 g/t gold. The current Hangaslampi gold deposit is 55,700 ounces grading 6.2 g/t gold. Drilling at Hangaslampi re-commenced in May 2011 with an aim to test the extensions of identified mineralisations.
Canyon Resources Limited (ASX:CAY) has entered into an agreement to purchase the Wilier Project in eastern Burkina Faso. The acquisition increases Canyon's total exploration area to 3,010 km2 in four separate project areas. The Wilier Project is located in a highly prospective area and adjacent to the 2.5 million ounce Samira Hill gold mine and the 1.1 million ounce Youga gold mine.
Whinnen Resources Limited (ASX:WWW) has commenced its maiden drilling program at the Nany-Varas gold project in Northern Chile. The initial drilling program, comprising 3,000-4,000 metres of diamond drilling, will test multiple gold-bearing zones along a 1km strike. Analysis of the sampling results returned a best grade of 21g/t gold.
Piramal Healthcare (BOM:500302) and Vodafone Group (LON:VOD) announced that Piramal has agreed to purchase approximately 5.5% of the issued equity share capital of Vodafone Essar Limited for a cash consideration of approximately US$640 million. Piramal Healthcare is one of India's largest healthcare companies with assets across North America, Europe and Asia. It sells anaesthesia products to over 100 countries. Recently, the company also entered into financial services sector.
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