Australian Market Report of March 4: Winchester Resources - Further Expand Belu Manganese Project In Indonesia
04.03.2011 | ABN Newswire
Sydney - Winchester Resources Limited (ASX: WCR) has acquired an 80% interest in an additional concession at its Belu Manganese Project in Indonesia. This acquisition expands the total area covered by the Belu Manganese Project to 5,934 hectares. Rock chip sampling program at the new concession recorded values up to 52.3% Mn. The Company plans to commence an initial exploration program on the Belu Manganese Project by the end of March 2011. Identified targets will be drilled in the third quarter of calendar 2011. The Company will raise A$352,500 to fund exploration and additional working capital. Australian drug development company CBio Limited (ASX: CBZ) today announced confirmation from the Japanese Patent Office that it intends to grant the 'Chaperonin 10 Immunosuppression' patent. Granting of this patent secures for CBio exclusive rights in the use of XToll(R) in Japan. XToll(R) is a potential new-generation drug therapy which could provide safer and more effective treatment of autoimmune diseases such as rheumatoid arthritis. The patent is now either allowed or granted in the three major jurisdictions: USA, Europe (in 26 member states) and Japan, as well as in Australia, New Zealand, India, China and Singapore and is currently under examination in South Korea and Canada.
Stellar Resources Limited (ASX: SRZ) today announced high grade JORC resources at the Heemskirk Tin Project, a joint venture project between Stellar and Gippsland Limited (ASX: GIP). The Mineral Resource now stands at 49,000 tonnes of contained tin for the three deposits identified to date within the Heemskirk Tin Project. The Company will commence a scoping study in the June quarter.
NuPower Resources Limited (ASX: NUP) announced a resource estimate arising from its recent exploration activities at the Eva Tenement. The tenement now contains 1.43 million pounds of U3O8 and 12,300 oz of gold. NuPower intends to undertake metallurgical test work on samples from the Eva Tenement over the coming months to assess the viability of potential treatment methods.
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