Australian Market Report of January 17, 2011: Sheffield (ASX:SFX) Acquire Large Heavy Mineral Sands Exploration Project.
Mutiny Gold Limited (ASX:MYG) announced a significant upgrade in the Company's gold resource at its Deflector Deposit. Gold Measured Resource was up 94% from 67,000oz Au to 130,000 oz and gold grades increased from 3.9g/t to 4.3 g/t. The Company planned to commence further drilling at the Deflector Deposit in the second half of January 2011 to test mineralised extensions and high-grade drill intersections identified in previous drilling.
Kula Gold Limited (ASX:KGD) announced high grade drilling results at its 100% owned Woodlark Island Gold Project in Papua New Guinea. Results include 11m at 2.1 g/t Au and 4m at 10.4 g/t Au, confirming the potential of the Project. The Company will commence drilling to further increase the Project's resource base. The Woodlark Island Gold Project currently has a JORC Resource of 1.75 million ounces of gold.
Speewah Metals Limited (ASX:SPM) reported exceptional high grade copper and silver assays from the the Gap Prospect. Surface sample returned highest grade copper value ever found of 27.2% Cu with 222g/t Ag, supporting the potential of the northern part of the tenement group to host a significant drill target for multi-commodities including copper, gold and silver. The Company will focus on this target for copper, silver and gold in 2011.
Copyright 2011 ABN Newswire
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|Date:||Jan 17, 2011|
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