Asian Activities Report for May 9, 2011: Intrepid Mines Increase Porphyry Copper-Gold Resource Estimate At Tujuh Bukit Project To 990Mt
09.05.2011 | ABN Newswire
12:01 AEST May 9, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.Sydney, Australia (ABN Newswire) - Intrepid Mines Limited (ASX: IAU) (TSE: IAU) said today that the Inferred Resource estimate of the porphyry copper-gold zone at the Tujuh Bukit Project in Indonesia has increased from 500 million tonnes to 990 million tonnes, which contains 8.8 billion pounds of copper and 14 million ounces of gold. The inferred resource is still open at depth and laterally and an accelerated drill program is underway to further test the new targets.
Altura Mining Limited (ASX: AJM) has expanded the initial exploration targets at Pilgangoora Lithium Project to 6-9 million tonnes grading 1.5-1.7% Li2O. Drilling has identified very thick pegmatites at shallow depths with attractive grades. Altura will continue multiple drilling campaigns in 2011 to test the remaining resource potential.
Minotaur Exploration Limited (ASX: MEP) has commenced drilling at the NS13West iron oxide copper-gold target in Nova Scotia, Canada. A 400 metre diamond drill hole has been designed to test the southern part of a 2 kilometre long potential haematite target. Drilling is expected to take up to 2 weeks and assays a further 2 weeks.
Avalon Minerals Limited (ASX: AVI) has completed Phase 1 drilling program at its 100%-owned Viscaria Copper-Iron Project in Northern Sweden. Exploration drilling has returned high grade copper results and confirmed the existence of wider than expected copper and iron mineralisation at depth. Test work also confirmed that magnetite mineralisation can be upgraded to high-quality +70% Fe product with low impurities. Avalon is now planning the next phase of the drilling program.
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