ABN Newswire

Blackham Resources Limited (ASX:BLK) Drilling Programme Commences at Matilda Gold Mine

newsroom@abnnewswire.net — Thu, 9 Feb 2012 12:47:00 GMT

Blackham Resources Limited (ASX:BLK) is pleased to announce that following the recent publication of its initial resource statement, it has commenced a 2,000 metre RC drilling programme at the Matilda Gold Mine. This area has not been drilled in over 15 years and management believe the Matilda Mine has potential for both sizeable open pit and high grade underground deposits.

The Matilda Mine is a large gold system which has been mined in most places to less than 50m with 7 small pits over a strike of 3.5kms. The Matilda Mining Centre was last exploited by ASARCO during the mid-90's. Asarco ceased production at Matilda in 1996 when the gold price was about US$400/oz. Production from all previous owners mined 4Mt @ 2.2g/t for approximately 280,000oz of gold. The large mineralised system has gold hosted in saddle reef and shear structures often with near surface supergene enrichment. Most of the existing Matilda deposits remain open both along strike and at depth.

Blackham has only reviewed two of these deposits in its resource statement, M2 and M10, and will evaluate the other deposits in due course following further drilling. Most the drilling at the Matilda Mine has been to a shallow depth. The limited deeper drilling in the area has been successful in identifying the high grade lodes in the fresh rock but requires further definition drilling.

Background

Blackham acquired the Matilda Gold Project in November 2011, including the Matilda and Williamson Gold Mines and numerous other deposits and prospects. The project covers over 600km2 surrounding the operating Wiluna Gold Mine owned by Apex Minerals NL. This region has produced over 4 million ounces of gold. The current Wiluna Gold Mine resources are 12.7 Mt at 5.4g/t gold (as reported by Apex Minerals NL in their 2010 annual Report).

Blackham recently announced it had completed a review of existing deposits at the Matilda Gold Project. This review has identified 601,000oz of existing resources within the project area.

The review of resource estimates to date has focussed on advanced prospects and mines. The Company will continue to review other prospects in the project to determine potential resources and exploration targets.

Management believes there is significant opportunity add to the existing resources at the Matilda Mine in both the oxide material and fresh rock.

For the complete announcement including figures and tables, please view:
http://media.abnnewswire.net/media/en/docs/ASX-BLK-577560.pdf

Bryan Dixon
Managing Director
Blackham Resources Limited
Tel: +61-8-9322-6418

Greg Miles
Executive Director
Blackham Resources Limited
Tel: +61-8-9322-6418

FINANCE VIDEO: Adelaide Resources (ASX:ADN) Managing Director Chris Drown Presents To Sydney Capital Markets at Investorium.tv

newsroom@abnnewswire.net — Thu, 9 Feb 2012 10:20:19 GMT

FINANCE VIDEO: Adelaide Resources (ASX:ADN) Managing Director Chris Drown presented live to Sydney Capital markets at Investorium.tv, regarding Adelaide Resources' vision to be a sustainable minerals exploration company providing shareholders with risk managed discovery, development and mining opportunities.

Chris Drown is a geologist with over 20 years experience in the Australian exploration and mining industry. He is a member of the Australasian Institute of Mining and Metallurgy, a member of the Australian Institute of Company Directors, and a member of the Geological Society of Australia.

A graduate of the University of Tasmania, Mr Drown worked in underground nickel mines at Western Mining Corporation Limited's Kambalda operations in Western Australia, and filled mining geology roles at Aberfoyle Resources Limited's Hellyer lead-zinc-silver deposit in western Tasmania.

In 1991, he moved from mine geology into exploration searching for base metal and gold deposits in the Northern Territory and South Australia.

Mr Drown was appointed exploration manager of Adelaide Resources shortly after it listed on the ASX and has since played a major role in the company's activities. In March 2005 he accepted an invitation to join the Board of Adelaide Resources as an Executive Director and in November 2007 became Managing Director.

To view the Adelaide Resources presentation at Investorium.tv, please visit:
http://abnnewswire.net/lnk/7ML3H1VT

Adelaide Resources Limited
T: +618-8271-0600
F: +618-8271-0033
E: adres@adelaideresources.com.au
http://www.adelaideresources.com.au

Peel Mining Limited (ASX:PEX) Mallee Bull Returns More High-Grade Copper

newsroom@abnnewswire.net — Thu, 9 Feb 2012 09:44:00 GMT

Perth-based explorer Peel Mining Limited (ASX:PEX) is pleased to report that follow-up RC/diamond drilling at the Mallee Bull prospect (previously known as 4-Mile), part of its 100%-owned May Day-Gilgunnia Project located about 100km south of Cobar in NSW, has intersected additional new high-grade Cobar-style polymetallic mineralisation.

The results continue to confirm that Mallee Bull is host to high-grade copper-dominant mineralisation, and importantly, that the mineralising system is open at depth. The results are in addition to those reported in mid-January where better assay results included: 4MRC015 - 6m @ 3.05% CuEq (2.01% Cu, 64 g/t Ag, 0.43 g/t Au) from 208m; 4MRC016 - 11m @ 3.30% CuEq (2.71% Cu, 36 g/t Ag, 0.26 g/t Au) from 233m; and 4MRC019 - 10m @ 3.47% CuEq(2.66% Cu, 44 g/t Ag, 0.51 g/t Au) from 237m.

Peel recently completed a follow-up RC/diamond drilling programme designed to test along strike and down dip of previously intersected mineralisation. Drilling was carried out on an approximate 40m by 40m grid pattern and comprises a series of RC and RC pre-collar/diamond tail drillholes. Assay data for many drillholes remain outstanding although multiple drillholes completed to date have intersected zones of polymetallic mineralisation comprising intervals of massive sulphide and/or stringer mineralisation, including visible chalcopyrite, sphalerite and galena with accessory sulphide minerals including pyrrhotite, pyrite, and arsenopyrite.

Drilling to date indicates that high-grade copper-dominant polymetallic mineralisation at Mallee Bull has a strike length of at least 120m, comes to within at least ~150m of surface, extends to at least ~310m below surface and is open in multiple directions including at depth. Peel notes that the majority of assays for deeper drillholes remain outstanding, and that Cobar-style deposits are typically short in strike length but long in the vertical plane.

Mineralisation occurs within a package of sheared and brecciated volcaniclastic sediments comprising siltstones and mudstones and is interpreted as occurring as a shoot-like structure dipping moderately to the west. Drill intercepts are construed as being close to true.

The Mallee Bull prospect is interpreted to be positioned in a favourable geological and structural position, sited on the "nose" of an anticline - a suitable high-stress environment, and occurring in a geological unit interpreted to be age equivalent of the Chesney and Great Cobar Slate Formations found in the immediate Cobar region.

Background on Peel's Mallee Bull discovery

In March/April 2011, Peel began targeting a newly-recognised coincident EM and magnetic geophysical anomaly located within the historic 4-Mile goldfield. The 4-Mile goldfield comprises up to 60 shafts and workings spread over an area covering about 1,000m by 500m.

Initial drilling resulted in the discovery of significant silver-lead-zinc mineralisation. Follow-up drilling completed in July/August 2011 confirmed the discovery of Cobar-style copper-silver-gold-lead-zinc-cobalt mineralisation with better intercepts including: 4MRCDD06 - 10m @ 20% Pb/Zn, 41 g/t Ag, 0.77 g/t Au from 253m and 6.65m @ 4.09% CuEq (3.1% Cu, 34 g/t Ag, 0.93 g/t Au) from 267.35m; and 4MRC007 - 10m @ 2.41% CuEq (1.70% Cu, 46 g/t Ag, 0.27 g/t Au) from 248m and 4m @ 2.31% CuEq (1.49% Cu, 59 g/t Ag, 0.18 g/t Au) from 262m.

The Mallee Bull prospect is located less than 10 kilometres east of Peel's 100%-owned May Day gold-silver-lead-zinc deposit (ML1361), where drilling in 2010 by Peel confirmed the down-dip continuation of mineralisation to more than 200m below surface.

For the complete Peel Mining announcement including figures and tables, please view the following link:
http://media.abnnewswire.net/media/en/docs/ASX-PEX-577528.pdf

Rob Tyson
Mob: +61-420-234-020
Peel Mining Limited
T: +61-8-9382-3955
F: +61-8-9388-1025
E: info@peelex.com.au
http://www.peelex.com.au

Australian Bauxite Limited (ASX:ABZ) Drilling Confirms 30 Metres True Thickness of Bauxite at Taralga, NSW

newsroom@abnnewswire.net — Thu, 9 Feb 2012 09:04:00 GMT

Emerging bauxite exploration and development company, Australian Bauxite Limited (ASX:ABZ) has drilled 4 new vertical holes TG677 to TG680 around hole TG626 at Mt Rae which, in December 2011, discovered the company's then record thickest high-grade bauxite intersection - possibly one of the thickest bauxite intersections in Australia. Thicker bauxite was found.

New hole TG680 intersected a new record 33 metres true thickness of bauxite from surface to 33m depth whilst hole TG677 intersected 24 metres and holes TG678 & TG679 intersected 32 true thickness of bauxite. Holes and bauxite thicknesses are shown in Figure 4 (see link at the bottom of the release) with results to hand summarised in Table 1 (see link at the bottom of the release).

Most Australian bauxite deposits are less than 4 metres thick and some are less than 2 metres thick whereas holes TG626, TG677 to TG680 average 30 metres true thickness.

ABx and Marubeni Corporation are conducting a $1.5 million pre feasibility study of the Goulburn Bauxite Project. This zone of thick bauxite increases the resource potential of the Taralga bauxite areas, near Goulburn NSW.

The district's deposits contain thick zones of premium grade bauxite, with good potential for more discoveries. All deposits are gibbsite-rich (trihydrate) bauxite and free of clays and boehmite (monohydrate-free). All horizons produce Direct Shipping or "DSO" bauxite.

Resource Estimation Update

Areas of thick, good quality bauxite continue to be discovered across the Taralga - Mt Rae Areas. It is intended to upgrade the resource estimate for Taralga before the end of the current Pre Feasibility Study ("PFS"), which is scheduled to conclude at the end of March. Como Engineers of Perth have been appointed to coordinate cost estimations and prepare the PFS report.

Current bauxite resources at Taralga total 25 million tonnes (see Resource Statement page 4 from the link at the bottom of the release).

Metallurgical Results Encouraging: Main Production is DSO Bauxite Metallurgical tests on large samples have been done as part of the Pre Feasibility Study, with METS Engineers of Perth coordinating and summarising the testwork (report in progress).

The Goulburn district bauxite deposits typically have an upper half that contains nodules or "pisoliths" of a black, glassy material which is an emery, comprising mainly fused alumina and trace iron oxides. Well-known bauxite mineralogist, Professor Eggleton of the Australian National University coined the term "PDM" for these black pisoliths which he found in bauxites from Weipa, Northern QLD. PDM stands for "poorly diffracting material" when subjected to X-ray diffraction.

Metallurgical tests on the PDM-bearing bauxite ("PDM-DSO Bx") from the Taralga area have been able to recover the PDM by gravity methods and the remaining bauxite is good-quality DSO bauxite, similar to the DSO bauxite that typically occurs in the lower half of the deposits. This means that overall, DSO will represent approximately 75% to 85% of total tonnes produced from the Goulburn Bauxite Project. The recovered PDM emery material can be sold at good prices for industrial uses.

Because this PDM-bauxite layer typically has less than 15% Loss on Ignition "LOI" (see Appendix details), it was previously referred to as "Dehydrated" bauxite. It is now called PDM-DSO Bx bauxite.

For the complete announcement including tables and Resource Statement, please view:
http://media.abnnewswire.net/media/en/docs/ASX-ABZ-666263.pdf

Investor Relations
Henry Kinstlinger
Australian Bauxite Limited 
Telephone: +61-2-9251-7177 
Fax: +61-2-9251-7500
Email: corporate@australianbauxite.com.au
http://www.australianbauxite.com.au

Kagara Limited (ASX:KZL) Announces North Queensland Resource Update

newsroom@abnnewswire.net — Thu, 9 Feb 2012 08:28:00 GMT

Kagara Limited (ASX:KZL) is pleased to announce an updated polymetallic resource inventory for the Northern Chillagoe Region, part of its North Queensland base metal operations, following successful drilling programs carried out during 1HFY12.

The updated resource inventory - which includes maiden Inferred Resource estimates for the recently discovered Queenslander and Morrisons lodes at Redcap, as well as updated Indicated and Inferred Resource estimates for the King Vol deposit following recent in-fill drilling - demonstrates that KZL has made rapid progress towards achieving the objectives of its 5-year growth strategy.

This strategy, which was released to the market in September 2011, was predicated on the following

key assumptions:

- the need to grow KZL's production base to achieve economies of scale and reduce unit costs to protect the business against downturns in commodity prices, as highlighted by the recent impact of short-term falls in the zinc and copper price during Q2FY12;

- that demand and prices for both zinc and copper are expected to remain robust over the next five years, with the medium term outlook for zinc in particular expected to be driven by falling production beyond 2014-15 in response to the closure of several large mines across the globe; and

- that to date KZL's tenements in North Queensland have been largely under-explored from a resource definition perspective.

The four key elements to the strategy are:

1. Grow the resource base through the expenditure of A$50M in the first 2 years of the 5 year strategy to sustain increased production for, initially 8-12 years and then for 15+ years by the end of the 5-year plan period;

2. Increase zinc production from ~40,000tpa and copper production from ~20,000tpa in FY11 to 120,000tpa and 30,000tpa respectively;

3. Strengthen the skills and management of the business in order to enable it to realise this strategy; and

4. Divest non-core assets and focus on growing resources and production from North Queensland as the core focus of the business for the next five years.

Kagara's Managing Director, Geoff Day, said the key highlights of the first Half Yearly resource update were consistent both with the objectives of the Company's 2-year, A$50 million exploration push and its commitment to improved governance of Mineral Resource and Ore Reserve management.

"The first priority for the 2-year exploration push was in the Northern Chillagoe Region, where our focus was to increase the resource base sufficiently to justify the capital investment required to complete the Mungana processing facility, which was mothballed during the Global Financial Crisis in 2009.

"In broad terms, the Company's target was to identify a nominal 10 million tonne polymetallic resource base in this region from one, or at most two, potential mining fronts, which would be sufficient to sustain 8-12 years of ore feed into the Mungana plant as well as deliver additional feed to the Mt Garnet process plant.

"The second priority was growing resources in the Central Mt Garnet Region, in particular in and around the Balcooma operation, while significant exploration effort in the Southern Thalanga Region was not scheduled until year 2 of the 5-year plan.

"It is very pleasing to report that, with the discovery and rapid delineation of the Queenslander and Morrisons lodes at Redcap and the in-fill drilling at King Vol, we have already increased the combined resource inventory in the Northern Chillagoe Region to over 10 million tonnes from just 2 mining fronts - attaining our published 2-year target of 10-11 million tonnes in just six months."

"That is a great result which is a credit to the focused efforts of our exploration team over the past six months, and which also reinforces the validity of the 5-year growth strategy and our confidence in the Northern Chillagoe region as an integral part of the Company's growth plans," Mr Day continued.

"What is even more exciting is that this is not the end of it, with more drilling planned to define the overall extent of resources in this highly prospective area."

As noted above, the Southern Thalanga Province has not been a focus of activity for the first year of the 5-year plan and, as such, the Mineral Resource base in this region remains unchanged (excluding depletion).

Redcap Project

The Redcap Project, which is located approximately 5km east of the Mungana treatment facility, comprises the Victoria, Queenslander and Morrisons lodes and numerous prospects, including the recently discovered Penzance Copper Lode.

The Victoria Lode, which was outlined from drilling completed in 2008, contains an Inferred Resource of 3.4 million tonnes grading 5.1% zinc and 1.0% copper. The resource contains a higher grade core, comprising an Inferred Resource of 950,000 tonnes grading 7.4% zinc, 1.6% copper and 30 g/t silver.

The latest drilling of the Queenslander and Morrisons lodes has resulted in the estimation of a maiden Inferred Resource comprising a combined 3.52 million tonnes grading 5.0% zinc, 0.6% copper, 0.2% lead and 17g/t silver. At a 7.3% Zn Eq cut-off, the combined Inferred resource for Queenslander-Morrisons is 1.45 million tonnes grading 7.0% zinc, 0.7% copper, 0.4% lead and 28g/t Ag.

The total Inferred Resource at the Redcap Project now stands at 6.96 million tonnes grading 5% zinc, 0.8% copper, 0.1% lead, 19g/t silver and 0.1 g/t gold, within which is a higher grade resource of 2.398 million tonnes at 7.1% Zn, 1.1% Cu, 0.2% Pb, 28g/t Ag and 0.2g/t Au.

As outlined in the December 2011 Quarterly Report, reconnaissance drilling adjacent to the historic Penzance copper open pit has discovered a new zone of copper-zinc mineralisation. The attached long section shows that the copper mineralisation is open in most directions and continues to be extended with drilling.

Some of the better recent intersections include:

- 12.7m @ 4.9% Cu, 0.42% Zn and 88g/t Ag from 139.4m (Hole 1206)

including 6m @ 8.7% Cu, 0.6% Zn and 161g/t Ag from 144.1m

- 7.8m @ 2.5% Cu, 1.4% Zn and 50g/t Au from 117.4m (Hole 1200) - - 4.0m @ 4.0% Cu, 5.5% Zn and 41g/t Ag from 154.7m (Hole 1205)

including 5.5m @ 3.6% Cu, 0.1% Zn and 42g/t Ag from 163.5m (Hole 1205)

Note: True widths range from 50% to 70% of drilled widths.

The geological setting of Penzance is similar to the Victoria, Morrisons and Queenslander lodes in that it is also associated with mineralised skarn on faulted contacts with marble or limestone units.

While this area is at an early stage of exploration, it shows very encouraging signs for additional lodes of mineralisation of economic significance within the Redcap Project area. Drilling is continuing to test this area, which is now focusing on strike extensions to the northwest and southeast.

The Redcap Project as a whole remains highly prospective for additional mineralisation, with all systems still open along strike. Additionally, recent reconnaissance drilling over surface geochemical anomalies has intersected zinc mineralisation at a number of localities which has not yet been followed up, and which may provide additional targets for future drilling.

King Vol

Following the announcement of Kagara's commitment to improved governance of Mineral Resources and Ore Reserves as part of its FY11 results release (which coincided with the impairment to the resource of the Mungana underground ore body), a key priority at King Vol was to increase the Company's confidence levels in the geometry and integrity of the orebody.

Given cost and logistics constraints, the Company decided to direct its focus towards the upper 200-300m of the orebody while assessing the potential financial and technical benefits of drilling the deeper sections of the orebody from underground.

Drilling of the top 250m (between 1,000m and 750m RL) of the King Vol deposit has been conducted on a nominal 25m by 25m spacing and, in critical areas, has been reduced to 12.5m by 25m. An update of the resource model has been completed comprising an Indicated Resource of 900,000t @ 16% Zn, 0.9% Pb, 0.9% Cu, 42g/t Ag (144,000 tonnes contained Zn).

As a result of the detailed drilling, the geological interpretation will change slightly and a new reserve will be calculated in Q4FY12. This is expected to result in higher grade, lower tonnage reserve but with only a minor difference in total metal content.

An updated Inferred Resource of 1,860,000t @ 9.9% Zn, 0.4% Pb, 0.6% Cu, 24g/t Ag (184,000 tonnes contained Zn), which is less than the previous Inferred Resource of 2.0 million tonnes at 14% Zn (280,000 tonnes of contained Zn), reflecting a more conservative approach to the drilling data given the wider spaced drilling at depth and along strike.

As outlined in the Exploration Update released on December 5, 2011, in-fill drilling of the lower regions of the King Vol resource is best carried out from underground since it will require closespaced drilling to adequately define geological controls. The updated combined Inferred and Indicated Resource at King Vol is 2,760,000t @ 11.9% Zn, 0.6% Pb, 0.7% Cu, 29g/t Ag.

While the overall tonnage of zinc and copper metal remains similar to previous resource estimates for King Vol, the updated resources have resulted in a significant increase in the Company's level of confidence in the integrity and quality of the resource and its ability to host a substantial core of very high-grade mineralisation.

The presence of this high-grade core has positive implications for the future economics of a mining operation at King Vol, as it will enhance the possibility of applying large-scale bulk stoping methods in conjunction with ore sorting given the clearer delineation between waste and ore. This will form a key focus of the current Feasibility Studies being conducted at King Vol.

Central Mt Garnet Region Summary

In the Central Mt Garnet Region exploration has focused on the Balcooma area. Underground and surface drilling has been successful in outlining a new resource of 1.03 million tonnes at 1.3% Cu, 1.7% Pb, 4.2% Zn, 29g/t Ag and 0.34g/t Au for the number two polymetallic lens, representing an increase of approximately 100% in contained zinc and 75% in contained copper, lead and silver over the previous resource of 503,000t @ 4.3% Zn, 1.5% Cu, 2.0% Pb, 35g/t Ag and 0.30g/t Au.

The coming quarters will see exploration activity ramp up in the Central Mt Garnet Region with the aim of significantly increasing the copper resource base.

Next Steps

The combined Inferred and Indicated Resources for the Northern Region are now in excess of 10 million tonnes (Red Cap and King Vol Projects combined).

The coming Quarters will see a focus on detailed drilling to increase the confidence of the Redcap and King Vol resources to allow mining studies to be undertaken to determine how much of these Indicated and Inferred Resources can be upgraded to Ore Reserves, supporting a decision to complete the Mungana processing facility.

In addition, having already achieved its 2-year target the Company will continue to progress exploration activities designed to increase the overall resource base in the Northern Chillagoe region towards its previously published 5-year target of 17-18 million tonnes. Kagara looks forward to reporting continued results from its 2-year exploration strategy in the months ahead.

For the complete announcement including figures, tables and Appendix, please view:
http://media.abnnewswire.net/media/en/docs/ASX-KZL-577508.pdf

Joseph Treacy
Executive General Manager
Minerals and Business Development
Kagara Limited 
Tel: +61-8-9481-1211

Coventry Resources Limited (ASX:CVY) Drilling Program Commences at Rainy River Gold Project

newsroom@abnnewswire.net — Thu, 9 Feb 2012 08:23:00 GMT

Coventry Resources Limited (ASX:CVY) is pleased to advise that it has commenced an inaugural drilling program at its Rainy River Gold Project in northwestern Ontario, Canada.

The Project comprises 120.9 km2 of mineral rights adjacent to the rapidly expanding 6.7Moz Rainy River Gold Deposit. This makes the Company the second-largest landholder in the Rainy River Greenstone Belt which is recognised as Canada's newest gold district.

Away from the Rainy River Deposit, only very limited exploration has been undertaken previously in this highly prospective Archaean-aged greenstone belt.

Despite this limited work, numerous high priority gold targets have been delineated within the Company's Project area.

The Company has commenced a reverse circulation (RC) drilling program to explore for gold in the glacial till cover within the Company's Project area.

Drilling will target known gold anomalies, such as Martin, Stafford, Neilson and Stock.

First-pass, reconnaissance type samples will also be collected at the Company's Blue Property, where stratigraphy akin to that hosting the Rainy River Gold Deposit is present. No exploration has been undertaken here previously.

The Company anticipates generating geochemical anomalies from this drilling program together with its concurrent ongoing backhoe till sampling program, in advance of bedrock drilling. The first pass drilling program is expected to be completed in 6-8 weeks, with analytical results returned in a similar timeframe thereafter.

Diamond drilling at the Company's 1.4Moz Cameron Gold Project, 100km away, is continuing, in conjunction with a pre-feasibility study into the development of this Deposit.

For the complete Coventry Resources announcement including figures, please view: http://media.abnnewswire.net/media/en/docs/ASX-CVY-577511.pdf

Mike Haynes
Executive Chairman
Coventry Resources Limited
E-mail: info@coventryres.com
Tel: +61-8-9324-1266

FINANCE VIDEO: Thundelarra Exploration (ASX:THX) Managing Director Brett Lambert Presents To Sydney Capital Markets at Investorium.tv

newsroom@abnnewswire.net — Wed, 8 Feb 2012 14:04:22 GMT

FINANCE VIDEO: Thundelarra Exploration (ASX:THX) Managing Director Brett Lambert presented live to Sydney Capital Markets at Investorium.tv, regarding Thundelarra's Australian tenements and projects.

Mr Brett Lambert is a mining engineer with 26 years experience in the resources industry. He commenced his career with Western Mining Corporation Limited and worked at the Kambalda Nickel Operations, Kalgoorlie Gold Operations and Hill 50 Gold Mine, Mt Magnet. In 1989 Mr Lambert joined Herald Resources Limited where he was responsible for the establishment of the Three Mile Hill gold mine and was subsequently appointed Resident Manager of Herald's Coolgardie Operations. In 1994 Mr Lambert began a career of almost ten years with Western Metals Limited holding the positions of General Manager Development and Executive General Manager Operations. In 1998 and 1999 Mr Lambert was seconded to Thailand as Managing Director of Padaeng Industry PCL, a Thai zinc mining and smelting company. In 2004 Mr Lambert was appointed Chief Executive Officer of NuStar Mining Corporation Limited.

To view the Thundelarra Exploration presentation at Investorium.tv, please visit:
http://abnnewswire.net/lnk/537TS5ZZ

Thundelarra Exploration
T: +618-9321-9680
F: +618-8321-9670
E: info@thundelarra.com
http://www.thundelarra.com

ABM Resources (ASX:ABU) Old Pirate Trenching Program Extends Overall Surface Vein Sampling to 726 Metres Strike Length Averaging 24.01g/t Gold

newsroom@abnnewswire.net — Wed, 8 Feb 2012 09:56:00 GMT

ABM Resources (ASX:ABU) is pleased to announce results from Phase 4 (118 samples) of the systematic Old Pirate Bulk Sampling and Trenching Program, which is part of the Company's Twin Bonanza Gold Camp Project. Phase 4 completes the sampling from this program.

Phase 4 trenching results from the northern extensions of the Western Limb Lodes at Old Pirate yielded:

- Phase 4 results average 24.70g/t gold over a combined vein strike length of 144 metres (118 samples) with a peak value of 320g/t gold.

- 30 samples (out of 118 samples) graded greater than 10g/t gold with an average of 88.15g/t gold.

- 9 samples (out of 118 samples) graded greater than 100g/t gold with an average of 187.55g/t gold.

- Individual higher grade vein lengths include:

102 metres strike length vein exposed with average width of 1.1 metres and average grade of 32.62g/t gold including a higher grade vein portion of:

18 metres strike length averaging 104.9g/t gold.

Combined results from Phase 1, 2, 3 and 4:

- 726 metres of combined strike length averaging 24.01g/t gold.

- 799.4 square metres of total vein area exposed with veins up to 6 metres width (averaging 1.1 metre width).

Darren Holden, Managing Director said, "These results from the Old Pirate sampling program have once again extended the system with some spectacular grades. It is remarkable to think that these veins are outcropping at surface or just below the shallow soil profile and, in places, are running in excess of 100g/t gold. This sampling program has proven extremely valuable in providing quality spatial and statistical information relating to the distribution of gold at Old Pirate. The Western Limb Lodes exposed in Phase 4 extend to the north and head under shallow soil cover. Overall the gold anomalism at Old Pirate extends over a 4 kilometre long trend and the possibility of uncovering further veins with detailed exploration work remains a distinct possibility."

Bulk Trenching at Old Pirate

Figure 1 (see link at the bottom of the release) shows the sample location of the Western Limb vein sampling (labelled Phase 4) and the statistics of 118 samples from Phase 4 are shown in Table 1 (see link at the bottom of the release) and combined with Phase 1, 2 and 3 in Table 2 (see link at the bottom of the release). A total of 110 samples were collected from a vein to the west of the main Western Limb vein which was revealed to be an un-mineralised vein and has been omitted from the overall statistics.

About the Old Pirate High-Grade Gold Prospect

The high grade Old Pirate Gold Prospect is located approximately 1,800 metres from the 1.67 Moz Buccaneer Porphyry Gold Inferred Resource. Gold at Old Pirate is distributed throughout a series of quartz veins within interlayered sandstone and shale sedimentary rocks. The veins range from centimetres to several metres wide and are defined by drilling, surface mapping and trenching over an area of 600 metres by 250 metres and to a depth of 200 metres within an overall anomalous trend in excess of 3 kilometres. The veins and sediments are folded into a plunging anticline (an arch shaped geological structure). In addition a diorite intrusive rock has been emplaced within the sedimentary rocks and is thought to have been a focus of the mineralising fluids. Previously ABM had contracted Dr Charles Butt of the CSIRO in Perth to conduct preliminary Scanning Electron Microscope Analysis work on surface gold samples and Dr Butt concluded that, based on the samples provided, the gold in the veins is not supergene enriched and is hence primary gold in quartz (refer ASX announcement 15/11/2011).

Due to the uneven distribution of the gold within the quartz veins, ABM geoscientists focus on the location and distribution of the actual veins as well as the gold within the veins. Based on the trenching results to date approximately 29% of the mineralised quartz vein samples grade greater than 10g/t gold averaging 73.12g/t gold; and 7% grade greater than 100g/t gold averaging 188.51g/t gold. The overall average of all trench results to date is 24.01g/t gold.

Rationale and Sampling Method

ABM has previously drilled several high grade intercepts including 9 metres averaging 100.9g/t gold and 5 metres averaging 274g/t gold interspersed with generally lower grade intercepts. The gold can be coarse (up to 2 to 3mm grains) at Old Pirate and is hosted within quartz veins. However, the distribution of the gold within these veins is not uniform, and hence drilling will likely under-call the overall grade due to the fact that there is a less than 1 in 3 chance of intersecting high grade in any particular part of the vein. Upon advice from external consultants, rigorous and systematic bulk sampling of the quartz along the strike length of veins at Old Pirate was proposed, of which the on-going work is presented here. This information, along with statistical parameters and extents of mineralisation, will be used to determine the minimum drill spacing required for further resource work.

The process for the bulk-trenching program is:

1. Natural outcropping veins are mapped for location and width and sampled at 1 metre intervals.

2. The backhoe digger then digs a trench that exposes those parts of the veins that are hidden underneath shallow soil cover to provide a combined map of natural outcrop and trench exposed quartz vein.

3. For each metre of exposed quartz vein (both in natural outcrop and trenched veins) two representative samples of approximately 3 to 4kg are collected. Quartz is selected systematically so as not to bias individual samples. One sample is sent to the laboratory with the remaining sample retained for future checking.

4. The sample width depends on the width of the vein. In cases where the vein width is greater than 1 metre, multiple samples are collected across the vein.

5. The maximum depth of the trench is 60cm (due to permit regulations, safety considerations and to minimise environmental impact). If the soil cover is greater than 60cm then sampling does not take place.

6. Samples are processed by ALS Global in Alice Springs (NT), ALS Global in Orange (NSW) and ALS Global in Perth (WA) where they are weighed and analysed using regular fire assay.

Samples greater than 10g/t are re-assayed using AA25 ore-grade method, and samples >100g/t are re-assayed using AA25 / Over Limit Dilution method.

7. Overall statistics and spatial distribution for vein strike length and grade are calculated by measuring sampled portions of vein (including a projection of short lengths (<10 metres) where the vein is inferred to have extended under cover) and then averaging all of the samples along the length. Individual entire veins that are un-mineralised (<1g/t) are excluded from overall statistics.

8. Samples were originally surveyed with a hand-held GPS and re-surveyed with a differential GPS (20cm accuracy).

About the Twin Bonanza Gold Camp

The Twin Bonanza Gold Camp is centred approximately 22 kilometres south of the Tanami Road and 14 kilometres east of the Western Australia - Northern Territory border. The Project spans the highly prospective "Trans Tanami Structure" an inferred regional / tectonic geological feature which hosts numerous gold deposits including Newmont's multi-million ounce Callie Gold Mine. In 2010 ABM focused its effort at Twin Bonanza on the Old Pirate Prospect - a 3 kilometre anomaly with multiple high-grade zones in quartz veins hosted in sedimentary rocks and the Buccaneer Porphyry Gold Deposit - an intrusive related bulk tonnage gold deposit where the Company reported a 1.67Moz gold maiden resource in February 2011. In 2011 ABM has reported several extensional discoveries around Buccaneer including the Cypress, Caribbean, Empress and Eastern Contact Zones as well as high grade gold in drilling and trenching at Old Pirate. The Company aims to complete a revised resource in the first quarter of 2012.

For the complete ABM Resources announcement including tables and figures, please view the following link:
http://media.abnnewswire.net/media/en/docs/ASX-ABU-577381.pdf

Jutta Zimmermann 
CFO / Company Secretary
TEL: +61-8-9423-9777

Darren Holden 
Managing Director
TEL: +61-8-9423-9777

Berdine Mastaglia
Investor Relations Manager
TEL: +61-8-9423-9777

WestSide Corporation Limited (ASX:WCL) Shareholder Newsletter - December Quarter Activities Report

newsroom@abnnewswire.net — Wed, 8 Feb 2012 09:28:00 GMT

WestSide Corporation Limited (ASX:WCL) is pleased to provide a quarterly activities report for the period ended 31 December 2011.

Operating Highlights

- Completed and connected remaining two of seven new dual lateral well sets for dewatering and gas production

- Completed the drilling of two up-dip lateral wells and commenced drilling a third

- Completed the first up-dip lateral ready to pump

- New well Pretty Plains 10 achieved a pre-peak production rate of 800,000 scf/day

- Three of the new dual-lateral wells have produced at over 600,000 scf/day

- Delivered net 397,047 GJ of gas for the quarter, generating gross revenues of $1.27 million

- Executed Gas Swap Agreement to provide access to gas to assist in meeting Meridian's commitments to supply up to 25 TJ/day

- Executed Gangulu Cultural Heritage and Management Agreement covering key areas of Meridian's operations

- Granted new Environmental Authority for PL 94

- Completed a major overhaul of the Hillview dehydration plant

- Commenced installing new production skids designed to automate wells and minimise greenhouse emissions

- Progressed Galilee Basin exploration drilling program with drilling started on the second well

- Subsequent to the end of the quarter:

(1) Continued commercial negotiations with various parties for the potential long term supply of gas to new customers

(2) Commenced implementation of gas lift water pumping system trial to reduce the impact of fines on the commissioning of new production wells.

For the complete WestSide Corporation Limited December Quarter Activities Report, please view the following link:
http://media.abnnewswire.net/media/en/docs/ASX-WCL-239428.pdf

Dr Julie Beeby
Chief Executive Officer
WestSide Corporation Ltd
Tel: +61-7-3020-0931

Investors and Media
Richard Owen
Investor & Community Relations Manager
WestSide Corporation Ltd
Tel: +61-7-3020-0933
Mob: +61-412-869-937
Email: richard.owen@westsidecorporation.com

Baobab Resources plc (LON:BAO) IFC Continuing Tete Project Participation

newsroom@abnnewswire.net — Tue, 7 Feb 2012 10:00:21 GMT

Baobab Resources plc (LON:BAO), the iron ore, base and precious metals explorer with a portfolio of mineral projects in Mozambique, is pleased to announce that its Tete joint venture ('JV') partner, IFC, a member of the World Bank Group, has committed to supporting the 2012 exploration programme through a pro rata contribution of approximately US$1,900,000.

IFC participated in a placing in November 2008 and remains Baobab's single largest single shareholder with an interest in the Company of 5.78 per cent. In January 2009, IFC acquired a 15% participatory interest in the Tete magnetite-ilmenite project. Under the terms of the JV, IFC has committed to annual pro-rata contributions to the development of the Tete Project with Baobab funding the remaining portion and remaining as the project operator.

IFC creates opportunity for people to escape poverty and improve their lives. It fosters sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. IFC has a long and respected history of promoting sustainable mining in developing countries and is highly regarded as a long-term partner in mining development projects.

Commenting today, Jeremy Dowler, Baobab's Chairman said: "We are very pleased to announce the continued support of our partner IFC as we move from resource definition towards pre-feasibility studies at Tete. The corresponding contribution in 2011 was approximately US$1,290,000 and we anticipate that IFC will become more involved as the project progresses, for example in the facilitation of access to port, rail and power infrastructure."

A COPY OF THIS ANNOUNCEMENT IS AVAILABLE FOR DOWNLOAD FROM THE COMPANY'S WEBSITE:
http://www.baobabresources.com

Baobab Resources PLC
Ben James: Managing Director
Tel: +61 8 9430 7151
Jeremy Dowler: Chairman
Tel: +44 1372 450529

Grant Thornton Corporate Finance
Gerry Beaney / David Hignell
Tel: +44 20 7383 5100

Shore Capital Group
Jerry Keen / Toby Gibbs
Tel: +44 20 7468 7964

Fortbridge Consulting
Matt Beale
Tel: +44 7966 389 196