Asian Activities Report for May 3, 2011: A-Cap Resources Limited (ASX:ACB) Report 65% Resource Increase At Letlhakane Uranium Project In Botswana
Australian gold producer Tanami Gold NL (ASX:TAM) said today that ongoing exploration at both its Western and Central Tanami projects in the Northern Territory is continuing to yield outstanding results. The latest drilling returned significant high grade intersections and further demonstrated the project's potential. The Company's objective is to increase gold production to 200,000 ounces per annum.
Teranga Gold Corporation (ASX:TGZ) said today that initial exploration results from the Gora Project, located 22km from the Company's Sabodala gold mine in Senegal has confirmed a high-grade gold deposit. With this new discovery, the Company believes that there is potential to expand the gold reserves at the Sabodala gold mine from the current 1.51 million ounces of gold to 2 to 3 million ounces of gold over the next 12 to 24 months.
Sultan Corporation Limited (ASX:SSC) announced 9.2 million tonnes JORC compliant inferred resource of zinc, lead and copper at the MB Project in Montenegro. Upside potential remains at the MB Project to increase resource with further exploration drilling. The resource is close to the surface and suitable for an open cut operation. The Company will commence Bankable Feasibility Study shortly to fast track production.
Teranga Gold Corporation
Tanami Gold NL
Sultan Corporation Limited
A-Cap Resources Limited