Asian Activities Report for November 15, 2011: Montezuma Mining (ASX:MZM) Reports Further High Grade Copper Results from Butcherbird Copper Project

Sydney, Nov 15, 2011 AEST (ABN Newswire) - Montezuma Mining Company Limited (ASX:MZM) says today that further assay results from the recently completed drilling programme at the Butcherbird Copper Project have returned further high grade copper results, with a total of 61 metres of continuous copper mineralisation averaging 1.96% Cu and 228ppm Co. The Company has commenced additional drilling to confirm the orientation of the mineralisation zone and to test the depth and strike extent.

Universal Coal plc (ASX:UNV) has received all large diameter drill sample analysis and test work for Berenice-Cygnus coking coal project. The results provide a better understanding of the type and quality of coking coal present at the project, indicating that coking coal product yields in the practical mining situation may be significantly higher than previously indicated. The project currently hosts a JORC compliant coal resource of 1.325 billion tonnes.

Guildford Coal Limited (ASX:GUF) announces an initial JORC resource estimate for EL13780X in the South Gobi Coal Project of 63.1 million tonnes, which underpins the potential start-up open cut mining opportunity of 1-2 Mtpa for the South Gobi Project for at least 20 years. The Company plans to continue drilling on the other key tenements in the South Gobi Project to define the JORC resource. Discussions with potential offtake partners have commenced.

Aguia Resources Limited (ASX:AGR) has received excellent drilling results from the TE project in southern Brazil. The new results highlight the prospective nature of the TE Project, returning wide zones of phosphate mineralisation at good grades from the surface over a wide area that is open in all directions. The Company plans to complete the initial drilling program, to be followed by beneficiation studies and the delineation of a JORC Mineral Resource estimate.

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