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Australian Market Report of April 19, 2011: Dampier Gold (ASX:DAU) Exceeds 500,000 Ounce Gold Resource Milestone.

Sydney, Australia, April 19, 2011 - (ABN Newswire) - Dampier Gold Limited (ASX:DAU) said today that total mineral resource grows to 529,000 ounces of gold for the K1 and K2-K3 deposits located within the Company's 100%-owned Plutonic Dome project. The Company's 2011 RC drilling program is now well underway, targeting resource expansion at K1 and K2-K3. An open-pit Scoping Study is due to completion in June.

Ashburton Minerals Limited (ASX:ATN) said today that historical data had confirmed the presence of extensive gold mineralisation within the Obi Gold Project in Indonesia. Historical drilling returned high grade gold intercepts including 9.15m at 26.25 g/t, 13.70m at 6.13 g/t and 2.20m at 15.20 g/t. The Company is planning a 4,000m diamond drilling programme with a drilling rig expected to arrive next week.

Scandinavian Resources Limited (ASX:SCR) is targeting a number of 50-100Mt iron deposits within the world-class Kiruna Iron district in northern Sweden. The current 10,000m diamond drilling program is to validate historical holes and test exploration targets. JORC inferred mineral resource update is scheduled for July 2011, targeting 200-250Mt of iron ore.

Straits Metals Limited (ASX:SRQ) said today that the Mt Muro Gold mine in Indonesia restarted processing operations in late February, going on to produce 2,006 ounces of gold in the March quarter. Meanwhile, the Tritton copper mine in NSW produced 6,549 tonnes of copper in the March quarter, an increase of 15.9% on the previous quarter. An intensive diamond drill program is continuing at Tritton, aiming for an 8 year minimum mine life for Tritton.

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Publication:ABN Newswire
Date:Apr 19, 2011
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