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Company - Quia Resources Inc
Gold exploration company focused on Colombia and its 100%-owned San Lucas property in the San Lucas gold belt.
Frontier Resources is set to begin the next round of exploration drilling on the Andewa gold and copper project in Papua New Guinea after formalising a $A20M-plus farm-in agreement with Newcrest Mining.
The PNG specialist company has positioned its two large truck-mounted rigs to complete the program of five 1000m-deep holes as quickly as possible.
Newcrest has reimbursed $1.9M of past expenditure...
Northern Star Resources is hailing what it calls a “game-changer” for its Paulsens gold mine in Western Australia after strong deep drilling results pointed to a significant extension of the known orebody.
Deep drilling designed to extend the highly profitable mine’s life to 7-10 years won results up to 63.5g/t around 150m down-plunge of the known limits, indicating strong potential to greatly increase resources, reserves and life....
New Zealand-based King Solomon Mines has positive results from a technical review of the Mud-house gold prospect at Sonid North, on the fringes of the Gobi Desert in Inner Mongolia, China.
The review, including research into Chinese underground mining costs and resource valuations, concluded that potential exists at Mud-house for a narrow vein 100,000-200,000oz gold resource at Mud-house with additional exploration upside.
The 1g/t...
Breaks - CHATHAM ROCK TARGETS NAMIBIAN WATERS
New Zealand marine explorer Chatham Rock Phosphate has joined the push to offshore Namibia, applying for five prospecting licences covering about 45sq.km near Australian company Minemaker’s Sandpiper phosphate project.
The company says the area is at similar depths to its Chatham Rise tenements offshore NZ.
MD Chris Castle says it makes sense to apply the technology the company is developing in New Zealand to other areas. Namibia...
A prefeasibility study has backed development of a $US302M standalone 10.3Moz pa silver and 29,200oz pa gold mine at the Juanicipio property in the Fresnillo District of Zacatecas State, Mexico.
The study by AMC Mining Consultants (Canada) for Juanicipio JV partners Fresnillo (56%) and MAG Silver Corp (44%) anticipates a long-hole open-stoping mine with 15-year life processing 850,000-950,000tpa at 416g...
Breaks - GENMOLY WINS MT HOPE WATER FIGHT
Molybdenum mining specialist General Moly has won a long battle over water rights for its Mt Hope project in central Nevada, USA, considered one of the world's largest and highest grade molybdenum deposits.
A Nevada State District Court rejected petitions for a judicial review of the award of water rights and permits for the project by the Nevada State Engineer.
The court decision follows this week’s approval by the state engineer...
Churchill Mining will fight on despite formal notification that it has lost its appeal to the Supreme Court of Indonesia over the revoking of four mining licences that make up its 75%-owned East Kutai coal project in East Kalimantan.
Churchill confirmed it will proceed with an international arbitration claim against the Republic of Indonesia in the International Centre for Settlement of Investment Disputes in the US.
Chairman David...
Breaks - STRONG Q4 GETS OROSUR OVER THE LINE
A 27% rise in Q4 output helped South American-focused gold producer/explorer Orosur Mining produce 55,458oz gold for the year ended May 31, 2012 – below the previous year’s 55,820oz but just meeting guidance of 55,000-57,500oz.
Orosur’s San Gregorio mine in Uruguay processed 1,619,510t (2011: 1,535,468t) ore at 1.15g/t (1.21g/t) with recovery averaging 92.8% (93.4%).
Q4 production was 17,387oz (Q4 2011: 13,688oz) due to planned...
Mexico gold explorer Torex Gold Resources has lifted its net loss for the 2012 half ended in April to $C28.9M from the previous year’s half loss of $17.1M.
The company is in the process of finalising mining plans for its 100%-owned Morelos project in Mexico after lifting measured/indicated resources to 4.8Moz gold, within the El Limon and Guajes deposits’ 53.8Mt measured/indicated at 2.79g/t and 8.4Moz silver, plus 10.7Mt inferred at 2g/t for 620,000oz...