Australian Market Report of January 10, 2011: Strzelecki (ASX:STZ) Granted Copper Exploration Licence in Poland
Sydney, Australia (ABN Newswire) - Strzelecki Metals Limited (ASX:STZ) announced the granting by the Government of Poland of a six-year exploration concession to its 100% owned Polish subsidiary Slasko Krakowska Kompania Górnictwa Metali Sp. z o.o. The concession, which comprises two separate areas totaling 309 km2, is sited in the Kupferschiefer Copper Basin of southwest Poland, location of one of the richest copper accumulations in the world. The Company is planning the first phase of exploration including drilling of 7 diamond holes for copper and other metals.
Botswana Metals Limited (ASX:BML) has received additional laboratory results for DBRC014 hole at its Dibete prospect in Botswana. The results includes 3m at 9.16% Cu and 894 g/t Ag from a depth of 16m. The results confirm continuity and thickness of the supergene blanket of copper and silver over a distance of approximately 200 metres. The Company will commence further drilling during the March Quarter for further assessment of this supergene Cu-Ag mineralisation.
ATM company GRG International Limited (ASX:GRG) has secured its first sales in India with an initial agreement to sell and install 10 ATMs to the Municipal Co-operative Bank Limited of Mumbai. GRG has secured a letter of intent for 300 ATM units with initial installation of the 10 units with the Municipal Co-operative Bank. These are the first products from GRG International or GRG Banking to be installed in India. GRG International was founded to distribute GRG Banking products mainly to English-speaking markets. GRG Banking (SHE:002152) is the largest ATM manufacturer in China, one of the largest ATM suppliers in the Asian region.
Avalon Minerals Limited (ASX:AVI) is currently raising up to A$10.4m to fund its drilling program and Bankable Feasibility Study at the Company's advanced Viscaria Copper and Iron Ore Project in northern Sweden. The raising will include a placement to a new cornerstone Malaysian investor for A$4.1 million. Viscaria is the largest copper-iron greenstone hosed deposit in northern Sweden and Avalon's global JORC resrouces at Viscaria now total 66.2 million tonnes for 601,000 tonnes of contained copper and 2.4 million tonnes of contained iron. The Company plans to commence production of cooper and iron ore concentrates by 2013.
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