Australian Market Report of January 25, 2011: Hunnu Coal (ASX:HUN) Acquire Further Coal Assets In Mongolia
Integra Mining Limited (ASX:IGR) has completed Mineral Resources estimations for a number of new gold deposits. The Company's global Mineral Resources estimate now stands at 30 million tonnes at 2.6 g/t gold for 2.5 million ounces of gold, among which the recent Majestic prospect has provided a maiden Inferred Resources estimate of 3.9 million tonnes at 2.1 g/t gold for 260,000 ounces of contained gold. The company will expand its process plant to take gold production beyond 100,000 ounces per year.
Enterprise Metals Limited (ASX:ENT) has received assay results for rockchip samples collected at Burracoppin Iron Project in Western Australia. Approximately 11% of the 104 samples contained in excess of 50% Fe, suggesting that the mineralisation at Burracoppin are capable of producing Direct Shipping Ore style hematite. The Company will commence airborne magnetic and radiometric survey by March 2011 to generate further targets for field follow up.
IMX Resources Limited (ASX:IXR) has received final assay results from the remaining six diamond drill holes of the recently completed seven hole 'Phase II' diamond drilling programme at the 'Sleeping Giant' zone on the Nachingwea Joint Venture Project in southern Tanzania. The project is a 25:75 Joint Venture between IMX Resources and Continental Nickel Limited (CVE:CNI) of Canada. Best nickel results include 0.6m at 14.45% Ni and 6.05m at 1.00% Ni. Drilling has now confirmed the presence of sulphide mineralisation for at least a 500 metre strike length and up to 300m down dip.
Integra Mining Limited
Hunnu Coal Limited
Graphex Mining Ltd
Enterprise Metals Limited
Continental Nickel Limited