Preliminary Data Indicates Presence of Gold, Diamonds, and Bauxite in Equatorial Guinea
Sillenger Exploration Corp. an innovative and progressive mineral exploration and claims management company with experience in mining and Business Process Management in Africa, the historical geological and geophysical data for the Rio Muni region of Equatorial Guinea.
Preliminary assessment of the data shows a number of different sites in Rio Muni, which indicate the presence of minerals, especially gold, iron ore, diamonds, bauxite and colombo-tantalum. With the exception of some small-scale placer gold mining, the country has currently no commercial mining. The data were provided by the Ministry of Mines, Industry and Energy in advance of the airborne geophysical survey, which is expected to begin in July.
The upcoming research will contribute to the potential locations of visible deposits, and provide a more detailed reading of the underground structures.
As previously announced, Sillenger, through its relationship with African FCMI Global Inc and its affiliates, has a contract with the Government of Equatorial Guinea to an airborne geophysical survey of the Rio Muni region (27,000 square kilometers) of the conduct Equatorial Guinea, and 30 km from Continental Platform (4,500 square kilometers) from the Atlantic coast. Under the contract Sillenger (FCMI) will be granted exploration mining concessions, including oil and gas concessions, which are revealed by the survey. Read more
Alexandria Extends Near-Surface High Grade Gold Zone to the East at Akasaba, Val d’Or, Quebec
Alexandria Minerals Corporation reports today that it has intersected two separate high grade intervals, an upper zone assaying 36.4 g/t Au over 0.5 m, and a lower zone assaying, 8.47 g/t Au over 1.00 m, on its Akasaba project near Val d’Or, Quebec, extending near-surface high grade gold mineralization a further 200 m to the east of previously known mineralization. Assay results are still pending for four holes completed in March.
Drill Hole IAX-10-75 intersected the upper high grade zone, part of a broader intercept of 3.70 g/t Au over 6.75 m, at a vertical depth of 60 m, 300 m east of the mine shaft, and opens up a previously untested area. The lower high grade zone was intersected at a 95 m vertical depth, and was also part of a broader mineralized zone assaying 4.40 g/t Au over 3.50 m. Read more
Troy Resources NL: Appendix 3B can be accessed via
Troy Resources NL advises of the listing of 991,862 Fully Paid Ordinary Shares on the ASX from the conversion of 987,862 Partly Paid Ordinary Shares and the Exercise of 4,000 employee options. For further information please refer to the Appendix 3B which can be accessed via the Troy Website www.try.com.au, “Latest News”.
Information of a scientific or technical nature in this report was prepared under the supervision of Peter J. Doyle, Vice President Exploration and Business Development of Troy, a “qualified person” under National Instrument 43-101 – “Standards of Disclosure for Mineral Projects”, and is a member of the Australasian Institute of Mining and Metallurgy. Read more
Norilsk H1 profit down 84%, beats forecast
MOSCOW – Norilsk Nickel, the world’s largest nickel and palladium miner, said on Monday lower metal prices pushed first-half profit down sharply, but the results beat analyst forecasts.
Net profit attributable to shareholders fell 84percen year-on-year to $419-million, above an average Reuters poll estimate of $349-million.
Norilsk shares were up 2,1percen at 10:10 GMT, having earlier been up 2,5percen, outperforming a 1,2percen increase on the MICEX index. Read more
Sumitomo Mining Sets 201,000t Copper Target
Japan’s second biggest copper smelter, Sumitomo Mining, has set a 201,000t copper production target for the period of October 2009 to March 2010.
The target, which signifies a 0.9% year-on-year decrease, was set by Sumitomo in April, the beginning of the company’s business year.
A company spokesman told Reuters that Sumitomo was maintaining the 7% output curbs initiated early this year. Read more
First Quantum Minerals must restart talks on a $500 million copper project – Minister
The Democratic Republic of Congo (DRC) and First Quantum Minerals must restart talks on a $500 million copper project or risk scaring off future investors, the mines minister of Katanga province said on Friday.
DRC cancelled the Canadian miner’s Kingamyambo Musonoi Tailings (KMT) project in the country’s copper and cobalt heartland Katanga in August as part of a review of 61 mining deals.
Freeport-McMoRan’s giant Tenke Fungurume (TFM) copper mine has also failed to clear the review, and officials from the US-based firm are in Congo with the aim of negotiating a settlement to the protracted contract dispute. Read more
