Sydney, Nov 11, 2005 AEST (ABN Newswire) - A Joint Venture between Adelaide Resources Limited (ASX: ADN) and Iluka Resources Limited (ASX: ILU) have paid off with the announcement today of a discovery of a rich mineralised sand find about 180 kilometers northwest of Ceduna in South Australia.
Adelaide Resources Chairman, Mr Keith Yates said today that "While considerable work remains to prove up a resource at Tripitaka, these initial results are highly encouraging for this area's continued emergence as one of Australia's richest mineral sands provinces".
The new discovery, located on a Pastoral Lease outside of the Yellabinna Regional Reserve, was identified from laboratory testing on samples from one drill traverse, line 5084SE, with further drilling intersecting visible mineralisation both north and south of the discovery line traverse.
About Hammer Metals Limited
Hammer Metals Limited (ASX:HMX) holds a strategic tenement position covering approximately 3000km2 within the Mount Isa mining district, with 100% interests in the Kalman (Cu-Au-Mo-Re) deposit, the Overlander North and Overlander South (Cu-Co) deposits, the Millennium (Cu-Co-Au) deposit as well as the recently acquired Elaine-Dorothy (Cu-Au) deposit. Hammer is an active mineral explorer, focused on discovering large copper-gold deposits of the Ernest Henry style and has a range of prospective targets at various stages of testing.
About Iluka Resources Limited
Iluka Resources Limited (ASX:ILU) is a major international mineral sands resource company. It is involved in the exploration, project development, operations and marketing of mineral sands products. The major part of Iluka's production base is in Australia, with mining and processing operations in ?Sierra Leone. The corporate office is located in Perth, Western Australia. Iluka has regional and marketing offices, as well as warehouse distribution points in a range of locations.
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