Copper/Molybdenum Project
Asian Activities Report for August 22, 2011: Metminco (ASX:MNC) Confirms Significant Mineralization at Los Calatos Copper/Molybdenum Project
Sydney, Aug 22, 2011 (ABN Newswire) - Metminco Limited ( ASX:MNC) said today that drilling at its 100% owned Los Calatos copper/molybdenum project in Peru has indicated the existence of significant mineralization close to surface, and the mineralization extends to at least 1,700 metres below surface. The Company will complete the current drill program to test the full strike length of the mineralization. On completion of these drill holes, Metminco expects to commence an in-fill drill program with a view to completing an updated Mineral Resource estimate during 2012.
Exoma Energy Limited ( ASX:EXE) announced that Katherine-1 well, the fifth well of its 2011 exploration campaign in Queensland, has spudded. The primary target of this well will be shale gas in the Toolebuc Formation of the Eromanga Basin and the secondary target will be conventional oil in the Hutton sandstone. Exoma Energy has 50% interest in the Katherine-1 well and CNOOC ( HKG:0883) is earning its participating interest by a farmin, whereby CNOOC provides the initial A$50 million of joint venture expenditures on Exoma's five Galilee Basin prospects.
Aura Energy Limited ( ASX:AEE) announced a significantly upgraded resource for its Häggån Project in Sweden. Resource doubled to 631 million pounds of uranium, and is now one of the top three largest undeveloped uranium resources in the world. As the upgrade only covers 15% of the Project area, the Company believes that there is significant potential for further resource growth.
Alchemy Resources Limited ( ASX:ALY) has identified new gold mineralisation at the Hermes Gold Deposit, part of its Gascoyne Gold Project in Western Australia. Best results included 8 metres at 24.75 g/t gold and 4 metres at 16.47 g/t gold. Drilling results indicated potential for depth extensions of the gold mineralisation and existing Indicated Mineral Resource of approximately 130,000 ounces of gold at Hermes.
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