ABN Newswire

Tinka Resources Limited (CVE:TK) Drills 16 Metres of 4.62% Zinc at Ayawilca Project, Peru

newsroom@abnnewswire.net — Thu, 4 Apr 2013 13:36:02 GMT

Tinka Resources Limited (CVE:TK) (FRA:TLD) (PINK:TKRFF), announces the results from drill holes, A13-02 and A13-03, at the Company's 100% owned Ayawilca project located in west-central Peru.

Hole A13-02 was collared at the same site as holes A12-08 and A12-09. The objective of this hole was to test the southern extension of the highly mineralized intercepts found in hole A12-08 (see press release dated January 8, 2013). Nearly continuous mineralization was intersected between 236 m and 328 m depth, but at slightly lesser grades.

Hole A13-03 was located at the same site as A13-01 (see press release dated March 12, 2013), 200 m east of A13-02.

Mr Carter said: "We are extremely pleased with these results as they continue to demonstrate the presence of strong zinc mineralization over a wide area within the 1,200 metre strike length IP anomaly (2010 and 2012 surveys) at Ayawilca. The application for further drill platforms at Ayawilca is in the advanced stages with the government authorities, and drilling will continue to test the geophysical conductors."

Semi-massive and massive sulphides occur interspersed with highly altered sediments of the Oyon formation which is host to the sulphide mineralization found at the Ayawilca project. The overlying Gollyar group sandstones host the silver resource at the Company's Colquipucro project located 1.5 km to the north. The sulphide minerals consist of varying proportions of pyrite, pyrrhotite and sphalerite with lesser galena, arsenopyrite and chalcopyrite. In general, pyrrhotite and chalcopyrite contents tend to increase with depth and to the east, but further drill testing is required to confirm any trends in mineral zoning.

The geometry of and controls to the mineralization are not yet fully understood, but a series of intersecting fault structures that underlie Ayawilca are believed to be the source conduits. The 3-D inversion anomalies (2010 and 2012 surveys) follow these structures closely. The irregular nature of this replacement style mineralization hampers any meaningful interpretation of the strike, dip and true thickness of the zone(s), intercepted in these and previously reported drill holes, at this time.

All diamond drilling has been performed using HQ diameter drill rods, reducing to NQ diameter if required. All core has been logged and split on site under the supervision of Tinka geologists with sampling done on nominal two metre intervals. All the samples have been transported by Company staff to SGS Laboratories in Lima, Peru for ICP analyses using multi-acid digestion. Analytical standards and blanks were routinely introduced in the sample suites sent to the laboratory, and samples that exceeded their respective threshold levels for Ag, Zn and Pb were re-assayed by specific atomic absorption techniques.

The qualified person for the Company's projects, Mr. John Nebocat (P.Eng.), V.P. of Exploration for the Company, has reviewed and approved the contents of this news release.

For the full table of results, please visit:
http://media.abnnewswire.net/media/en/docs/74927-TK130402.pdf

Company Contact:
Mariana Bermudez at (604) 699 0202
or email: mbermudez@chasemgt.com
website: www.tinkaresources.com

Investor Information Contact:
Michael D'Amico
Tel: 1.647.500.6023
Email: michaeldamico@rogers.com

Tinka Resources (CVE:TK) Drills Significant Silver and Zinc Intersections at Colquipucro Project, Peru

newsroom@abnnewswire.net — Tue, 26 Mar 2013 13:03:46 GMT

Tinka Resources Limited (CVE:TK) (FRA:TLD) (PINK:TKRFF), announces the results from holes CDD-26 and CDD-27 at the Company's 100-percent owned Colquipucro project, west-central Peru. These are the first of a series of in-fill holes designed to both increase the resource base and upgrade the resource from the inferred to the indicated category.

Mr Carter said: "We are extremely pleased with these results as they continue to demonstrate the continuity of silver mineralization at Colquipucro. The presence of increasing zinc mineralization in the lower section of hole CDD-27 is a positive addition to the results. Infill drilling is continuing on site and will include drilling to the west of the resource."

Drill holes CDD-28 and CDD-29 have recently been completed and are currently being prepared for analysis. Further drilling will also be conducted west and north of the established silver resource area, exploring for additional mineralization, once the Company has received approval for an amended drill permit at Colquipucro.

The Company already has one permit for a drill site west of the resource area, and it is anticipated that this site will be drilled sometime in April, 2013.

The holes intercepted oxidized, banded, "zebra-stripe" sandstone and progressed into the underlying sedimentary breccia, greywacke, siltstone and fluidized sulphide unit. The holes intercepted the high grade veins/faults/gossan zones within the sandstone roughly perpendicular to the dip of the hole, while the intervening fracture-controlled mineralization in the sandstone was intercepted at about 45 degrees to the inclination of the drill hole, on average. The orientation of the mineralization within the underlying sedimentary breccia is not clear, however, narrow zones of intense oxidation suggest that the mineralized structures in the overlying sandstone may penetrate the underlying unit.

All diamond drilling has been performed using HQ diameter drill rods, reducing to NQ diameter if required. All core has been logged and split on site under the supervision of Tinka geologists with sampling done on nominal two metre intervals. All the samples have been transported by Company staff to SGS Laboratories in Lima, Peru, for ICP analyses using multi-acid digestion. Analytical standards and blanks were routinely introduced in the sample suites sent to the laboratory, and samples that exceeded their respective threshold levels for Ag, Zn and Pb were re-assayed by specific atomic absorption techniques.

The qualified person for the Company's projects, Mr. John Nebocat (P.Eng.), V.P. of Exploration for the Company, has reviewed and approved the contents of this news release.

For the full table of mineralization, please visit:
http://media.abnnewswire.net/media/en/docs/74926-TK130326.pdf

Company Contact:
Mariana Bermudez at (604) 699 0202
or email: mbermudez@chasemgt.com
website: www.tinkaresources.com

Investor Information Contact:
Michael D'Amico
Tel: 1.647.500.6023
Email: michaeldamico@rogers.com

Venus Metals Corporation Limited (ASX:VMC) Quarterly Activities and Cashflow Report

newsroom@abnnewswire.net — Thu, 26 July 2012 15:44:45 GMT

EXPLORATION HIGHLIGHTS:

- YALGOO IRON ORE PROJECT:

Discussion continued with the company's Chinese partners regarding future work programs to assist with commercializing the project.

Exploration continues with definition of further drilling targets to expand the resource base.

- ARGYLE SMOKE CREEK ALLUVIAL DIAMOND PROJECT: Processing of diamondiferous gravels commenced at the Argyle Smoke Creek Alluvial Diamond project. Approximately 1,600 tonnes of alluvial gravel was processed. A preliminary assessment of the diamonds that have been recovered to date by Leo Smans (former Rio Tinto diamond sorting & valuations expert) indicates, as expected, the overall quality of the diamonds recovered is better than Argyle Diamonds Run of Mine production. Weights of diamonds recovered will be reported after acid cleaning has been completed.

- TELFER NORTH SUPER PROJECT: Department of Mines and Petroleum has awarded two grants totaling $350,000 for drilling at Radi Hills ($200,000) and Citadel ($150,000) projects under WA Government EIS (Exploration Incentive Scheme) Co-funded Exploration Drilling Programme. The drill plan is in progress. Re-assaying of selected RC/diamond composite samples at Genalysis Lab, Perth gave elevated Tungsten (W) values up to 500ppm (214- 220m) confirming the previous assay results from SGS (please refer ASX release 6th Sep 2011).

- MOODINI PROJECT: In collaboration with Department of Mines and Petroleum for conducting detailed Hylogger studies, the half cut diamond Core samples of drill holes MORCD001 and MORCD002 were submitted to the Department. The scanning of diamond cores using Hylogger is completed and we await the interpretations of the data and results.

- COPPER HILLS PROJECT: Delineation of potential targets** based on the historical exploration studies.

INTRODUCTION

The location of Venus' exploration projects is shown in Figure 1.

Venus Metals Corporation Limited's (Venus) exploration activities conducted during the quarter ending 30 June 2012 includes soil sampling and assaying at Yalgoo Iron Ore Project, initial process of gravels at the Smoke Creek Alluvial Project, planning for drilling at Radi Hills and Citadel, Hylogger studies on diamond core samples of Moodini and delineation of targets for the Copper hills Project.

Venus currently has 16 granted Exploration Licences and 24 Prospecting Licences. It has 11 pending Exploration Licence Applications (ELAs) and two Mining Lease Applications (MLAs) in Western Australia.

1. YALGOO IRON ORE PROJECT (YIOP)

1.1 Project background

Venus' Yalgoo Iron Ore Project is centrally placed within Western Australia's emerging Mid-West Iron Ore Province approximately 80 kilometres north of the world-class Gindalbie Metals Ltd's Karara Iron Ore Project. During March 2010 Venus signed the Yalgoo Farm In and Joint Venture agreement with HD Mining & Investment Pty Ltd (HD Mining), a subsidiary of Shandong Provincial Bureau of Geology & Mineral Resources (SDGM) based in Jinan, China. HD Mining can earn up to 50% in the iron ore rights at Yalgoo by sole funding up to AUD$8 million worth of iron ore exploration over a maximum of two years.

Venus commissioned geological consultants Widenbar and Associates (WAA) to produce an updated JORC compliant resource estimate for Bilberatha Hill and The resource model has been updated with newly interpreted mineralised zones (known as Additional Zones) to the North-East, North-West and South of the main Bilberatha zone. In addition, part of the main Bilberatha mineralised zone has been upgraded to Indicated status.

A JORC compliant total Magnetite Mineral Resource of 698.1 Million Tonnes (being made up of an Indicated Resource of 311.2 Mt and Inferred Resource of 386.9 Mt) was estimated for YIOP (Please refer ASX Release: 26 August 2011).

The Pre-Feasibility Study conducted by ProMet Engineers Pty Ltd demonstrates that the project is technically viable and financially robust (refer ASX release 29 August 2011). A Mining Lease Application (MLA 59/742) has been submitted to Department of Mines and Petroleum covering Bilberatha Hill and additional magnetite mineral resource target areas within the tenement E59/1508.

1.2 June 2012 Quarter Exploration Work

Soil sampling and aeromagnetic data interpretation have outlined future targets for drill testing with a focus on E58/1552.

1.3 September 2012 Quarter Exploration Work

- Rehabilitation work at Yalgoo Iron Ore Project areas.

- Further follow up of soil sampling at Yalgoo Project tenements.

- Continuing commercialization discussions with the Companies joint venture partner.

2. ARGYLE SMOKE CREEK ALLUVIAL DIAMOND PROJECT

2.1 Project background
The Argyle Smoke Creek Alluvial Diamond Project area comprises 22 granted Prospecting Licences (PLs) which lies adjacent to the primary deposit which hosts the current Argyle Diamond Mine's (ADM) AK1. These PL areas cover previous ADM's Mining Leases. ADM carried out reconnaissance bulk sampling programmes for diamonds in the 1980s and 1990s.

Venus commissioned geological consultants Widenbar and Associates to produce a preliminary resource estimate for the Smoke Creek Alluvial Diamond Project. The resource estimate of the project area (12 granted Prospecting Licences) is based on the ADM-mapped extent of "C Terrace Gravels", and the published results of ADM's reconnaissance bulk sampling.

The document produced by ADM at surrender of the Mining Leases is very comprehensive in describing sampling methodologies and it is considered that the data is valid and usable for resource estimation. Widenbar Associates has reviewed the drilling, sampling and assaying data used in the estimate and considers it to be of sufficient quality to support the resource classification applied. The JORC compliant Inferred resource has been increased from 5,000,000 carats for 9 Prospecting Licences (refer ASX release 11 November 2010) to 6,000,000 carats for 12 Prospecting Licences (refer ASX release 7 September 2011).

After economic and resource confidence consideration, with a cut-off of 10 CPHT applied a JORC Inferred Diamond Resource has been estimated at 21.5 Mt at an average grade of 28 CPHT for a total of 6,000,000 carats.

The required equipment and machineries (Dense Media Separator plant and Dual XRay Flow sort units) for the processing of diamond bearing gravels at the Argyle Smoke Creek Alluvial Diamond Project area has been procured from South Africa, assembled and commissioned.

All technical and logistical challenges in processing plant have been addressed and successfully commissioned during December 2011 (refer ASX release 22 December 2011).

2.2 June 2012 Quarter Exploration Work

Approximately 1,600 tonnes of alluvial gravel was processed during the quarter. In addition, all x-ray recovery tailings were re-processed within the system. The DMS operations were regularly monitored by use of bead tests and the X-Ray machines regularly tested with fluorescent tracers.

A preliminary assessment of the recovered diamonds by Leo Smans (former Rio Tinto diamond sorting & valuations expert) indicates, as expected, the overall quality of the diamonds recovered is better than Argyle Diamonds' Run of Mine production.

Diamond weights will be reported after acid cleaning of the diamonds has been completed.

2.3 September 2012 Quarter Exploration Work

- Acid cleaning of recovered diamonds.
- Treatment of diamondiferous gravels which have been extracted in 1-metre bands (approx. 50 tonne samples) from target pits adjacent to SC22, SC23, SC24 and SC67. Previous data from ADM's bulk sampling program indicated significant diamond grades at these targets based on 30-tonne samples from each 1-metre gravel band.

3. TELFER SUPER PROJECT

3.1 Project Background

The Telfer North Super Project (TNSP) situated north of the giant 27 Moz Telfer gold mine comprises 6 granted Exploration Licences E45/3435 (Citadel), E45/3398 (Radi Hills), E45/3396 (Mt Morris), E45/3436 (Wallal) and E45/3523 (Bulgamulgardy) and E45/3923-I and 10 Exploration Licence applications E45/3630 (Mt Morris South), E45/3754, E45/4032, E45/4033, E45/4034, E45/4035, E45/4036, E45/4037, E45/4038 and E45/4039. The tenements cover a variety of exploration target types considered to have potential to host concealed Proterozoic world-class/giant ore deposits within Paterson Orogen Proterozoic basement. The targets lie within the Canning Basin Anketell Shelf and Wallal Platform regions where cover is interpreted to be relatively thin (<400m).

Principal exploration targets identified to date within the TNSP comprise:

- The Radi Hills gold/IOCG structural target (5 mGal gravity anomaly)

- The Mt Morris IOCG target, a large coincident magnetic and gravity high

- The Citadel doubly-plunging anticline gold target (a "Telfer Dome" look-alike)

3.2 June 2012 Quarter Exploration Work

Two grants totaling $350,000 were awarded to VMC for drilling a deep hole at Radi Hills ($200,000) and drilling of three holes at Citadel ($150,000) projects under WA Government Exploration Incentive Scheme for Co-funded Exploration Drilling Programme. Under the scheme, Government funds are matched with Company funds on a dollar for dollar basis for approved projects. The grants were awarded after evaluating the Projects under strict point criteria system involving high geological merit and innovative drilling. The Radi Hills and Citadel Projects are located 150 to 200 km north-northwest of the world class Telfer, O'Callaghans and Nifty deposits on the structurally controlled Anketell gravity ridge areas of Canning basin. The exploration targets Iron Oxide-Copper Gold (IOCG) mineralisation in Proterozoic basement rocks concealed beneath sand and sediment cover of the Canning Basin.

The re-assaying of the selected composite RC/diamond samples of Radi Hills at Genalysis Lab, Perth gave maximum Tungsten values up to 500ppm in drill hole TNDD001 (214-220m) which confirms the previous assay results (Please refer ASX release: 6th Sept 2011).

Radi Hills Project

- The proposed deep drilling at Radi Hills will test the geophysical model of coincident high magnetic (1500nT), high "Bulls Eye" gravity (5mGal) and Electromagnetic discrete late time responses(1) with source modelled at a depth of approximately 500m.

- To overcome the previous drilling difficulties Venus proposes innovative method of drilling using a combination of water bore type of drilling up to 500 m followed by diamond tailing up to 800-900 m depth.

Citadel Project

- The proposed drilling will test geophysical targets** with coincident high magnetic and high gravity and doubly plunging anticline structure (a Telfer dome "look alike"). The depth to mineralized Proterozoic basement is expected to be within 250m.

- A combination of mud rotary followed by diamond core drilling up to 400m depth is proposed.

3.3 September 2012 Quarter Exploration Work

- Based on encouraging assay results, Venus plans to conduct aircore drilling at selected areas at Radi Hills.

- Water supply bore drilling at Citadel and Radi Hills will be completed prior to commissioning of the co-funded deep diamond drilling programme of the targets.

4. MOODINI PROJECT

4.1 Project Background

The Moodini tenement was taken out to cover a section of a Venus-interpreted continental-scale north trending Proterozoic basement fault evident on state-wide and Australia-wide aeromagnetic imagery. The fault, known as the Mundrabilla Fault is concealed beneath younger sediments of the Eucla Basin, and is interpreted by Venus to be the western boundary of the South Australian Craton. Australian Proterozoic orogenic belts (orogens) host a variety of world-class and giant ore deposits including Mt Isa (base metals), Olympic Dam (Iron Oxide-Copper-Gold-Uranium), Telfer (Gold) and Argyle (diamonds). Venus is selectively targeting concealed parts of Proterozoic orogens where cover is interpreted from geophysics to be relatively thin (<500m). Gravity survey results (ASX release 23rd June 2010) obtained across two concealed discrete magnetic highs showed that the magnetic highs have coincident gravity highs, suggesting the possibility of extensive IOCG style mineralisation. Venus Metals has Programme of Work approvals for 13 exploration holes covering both Moodini North and Moodini South targets.

4.2 June 2012 Quarter Exploration Work

The half cut diamond Core samples of drill holes MORCD001 and MORCD002 were submitted to DoMP for conducting Hylogger studies. The Hylogger TM 2, operates in a wavelength range of Visible Near Infrared (VNIR) to Short Wave Infrared (SWIR) and can detect an extensive list of minerals.

These diamond holes MORCD001 and MORCD002 are the deepest holes drilled in the Eucla basin region. The scanning of diamond cores using Hylogger is completed and interpretations of data and results are awaited. These results will be correlated with previous assay data to develop possible new drilling targets.

4.3 September 2012 Quarter Exploration Work

Detailed study and interpretation of Hylogger study results and select new targets**.

5. COPPER HILLS PROJECT

5.1 Project Background

The Copper Hills tenement E 45/3541 of 221 sq km in the East Pilbara region of Western Australia was granted in December 2011. Venus was advised in 2010 that it had won the rights to the area following a ballot for the ground between 4 applicants.

The tenement grant follows successful negotiations with the Western Deserts Land Aboriginal Corporation on behalf of the Martu Native Title Holders resulting in a signed Land Access and Mineral Exploration Agreement.

Very high grade values with peak results of 2,376g/t Au, 3,424 g/t Pt, 4,904g/t Pd, 1,387g/t Ag and 20.9% Cu have been recorded from previous rock chip sampling of copper mineralised outcrops at the main Precious Metals Prospect. Whilst the very high grade values come from a small vein-type exposure of limited extent, it is reported that secondary copper minerals occur over a semi-continuous strike length of approximately two kilometres (please refer ASX release 21 December 2011).

Drilling programs by previous explorers have been unable to establish any depth extent to these remarkably high precious metal values. However, the petrographic studies indicate the mineralisation is the result of primary hydrothermal processes, with secondary enrichments. This indicates that potential does exist for the values to extend to depth and further exploration is warranted.

5.2 June 2012 Quarter Exploration Work

Review of historical exploration datas were conducted and delineated few potential targets**. Negotiations with the Western Deserts Land Aboriginal Corporation on behalf of the Martu Native Title Holders for conducting Aboriginal Heritage survey is in progress.

5.3 September 2012 Quarter Exploration Work

- Continuing reviews of past exploration results and delineation of drilling targets** at Copper Hills project.

- Aboriginal Heritage Survey

6. BASSIT BORE

- The Company has withdrawn from an option agreement to purchase the tenement.

*True widths have not been determined as the level of detail needed to calculate accurate true widths is not yet available.

**The term "Target" should not be misunderstood or misconstrued as an estimate of Mineral Resources and Reserves as defined by the JORC Code (2004), and therefore the terms have not been used in this context. It is uncertain if further exploration or feasibility study will result in the determination of a Mineral Resource or Mining Reserve.

(1) Late Time Responses is due to strong conductors (bed rock conducting bodies) possibly massive sulphides and base metals (source: Geotech Ltd and Core Geophysics, 2011).

To view the complete Venus Metals quarterly activites and cashflow report, please click the link below:
http://media.abnnewswire.net/media/en/docs/ASX-VMC-597500.pdf

Venus Metals Corporation Limited
T: +61-8-9321-7541
F: +61-8-9486-9587
WWW: www.venusmetals.com.au

Venus Metals Corporation Limited (ASX:VMC) Venus Awarded Grants for Drilling at Radi Hills and Citadel

newsroom@abnnewswire.net — Fri, 29 June 2012 09:23:44 GMT

The Directors of Venus Metals Corporation Limited (ASX:VMC) are pleased to announce that it has been awarded two grants totalling $350,000 for drilling at Radi Hills ($200,000) and Citadel ($150,000) projects under WA Government Exploration Incentive Scheme Co-funded Exploration Drilling Programme. Venus will be required to match the $350,000 funding grant on a dollar-for-dollar basis on direct drilling costs.

The Department of Mines and Petroleum considered applications from various exploration companies in WA and awarded funding for 56 high quality and technically sound proposals to promote new exploration concepts and new exploration technologies. The grants were awarded after evaluating the Projects under strict point criteria system including innovative drilling and passing through tight competition. Both the Radi Hills and Citadel projects (Figure 1, link below) are 100% owned and operated by Venus.

The Projects are located 150 to 200 km north-northwest of world class Telfer, O'Callaghans and Nifty deposits on the structurally controlled Anketell gravity ridge areas of Canning basin (Figure 2, link below). The exploration targets1 are for Iron Oxide-Copper Gold (IOCG) mineralisation in Proterozoic basement rocks concealed beneath sand and sediment cover of the Canning Basin.

Projects Background:

Radi Hills

- The proposed Govt co-funded drilling programme will test the geophysical model of coincident high magnetic (1500nT), high "Bulls Eye" gravity (5mGal) and Electromagnetic discrete late time responses2 with source modelled at a depth of approximately 500 m at Radi Hills. The locations of planned drill holes are shown in Figure 3 of release (link below).

- The RC/diamond drilling at Radi Hills in 2011 was terminated at 357.3 m depth due to drilling difficulties. Now Venus has proposed an innovative method of drilling to overcome the previous drilling difficulties using a combination of water bore type of drilling up to 500 m followed by diamond tailing up to 800-900 m depth (Figure 4, link below).

- The previous composite assays of overlying sediments has shown anomalous values of Tungsten (up to 470 ppm), Copper (up to 655 ppm), Gold (up to 160 ppb) and Silver (up to 5.6 g/t). Some pyritic iron oxide layers have also been encountered in the metasediments. It was interpreted as a possible "leakage halo effect" from an underlying basement source/mineralisation yet to be drilled (please refer ASX release 6th Sept 2011).

Citadel:

- The RC/diamond drilling programme will test geophysical targets1 with coincident high magnetic and high gravity and doubly plunging anticline structure (a Telfer dome "look alike"). The depth to mineralised Proterozoic basement is expected to be within 250 m. The proposed drill hole locations at Citadel are shown in Figure 5 (link below).

The drilling is expected to be commenced as soon as possible.

View the full release including tables and charts here:
http://media.abnnewswire.net/media/en/docs/ASX-VMC-594747.pdf

Venus Metals Corporation Limited
T: +61-8-9321-7541
F: +61-8-9486-9587
WWW: www.venusmetals.com.au

Alara Resources Limited (ASX:AUQ) Drilling Update at the Khnaiguiyah Zinc Copper Project

newsroom@abnnewswire.net — Wed, 16 May 2012 12:50:25 GMT

Australian-based minerals exploration and development company Alara Resources Limited (ASX:AUQ) (Alara) is pleased to report the results from an ongoing drilling programme at its flagship Khnaiguiyah Zinc-Copper Project in Saudi Arabia.

The drilling results announced today confirm the presence of significant additional mineralisation to the maiden Khnaiguiyah JORC Resource announced on 21 February 20121.

These results represent a progressive update on Alara's 10,000m backlog of additional drilling, conducted since the drilling cut-off date of 22 November 2011 for the JORC Resource estimation.

The drilling results cover a total of 19 holes, including a third batch of results from Zone 1 comprising 8 holes and an additional 7 holes from Zone 2. These results are outside the previously defined JORC Resource area and confirm additional mineralisation in Zone 1 and Zone 2 (North extension). In addition to this, 4 holes from Zone 3 covered in this announcement are previously drilled geotechnical holes for which analysis was carried out after completing a related geotechnical study.

Assay results from completed drilling, together with results from drilling continuing in Zones 1 and 2 to confirm mineralised extensions, will be announced over the coming months.

DRILLING HIGHLIGHTS

ZONE 1:
- Hole K1DD12_221 from 24-30.8m: 6.8m at 6.02% Zn; 0.49% Cu
- Hole K1DD12_222 from 63-66m: 3m at 7.51% Zn; 0.95% Cu
- Hole K1DD12_245 from 25.45-34m: 8.55m at 10.91% Zn; 0.19% Cu
including 25.45-28m 2.55m at 21.80% Zn; 0.34% Cu
and 42-47.1m: 5.1m at 10.97% Zn; 0.21% Cu
including 45-46m: 1m at 31.56% Zn; 0.70% Cu

ZONE 2:
- Hole K2DD12_233 from 80.8-86m: 5.2m at 7.15% Zn; 0.14% Cu
- Hole K2DD12_237 from 157-162m: 5m at 8.40% Zn; 0.38% Cu
- Hole K2DD12_239 from 177-188m: 11m at 6.42% Zn; 0.12% Cu
- Hole K2DD12_240 from 91-101m: 10m at 10.90% Zn; 0.31% Cu

ZONE 2 (Copper Rich Zone):
- Hole K2DD12_237 from 164-168m: 4m at 1.09% Cu
- Hole K2DD12_238 from 193.4-203m: 9.6m at 1.47% Cu

ZONE 3:
- Hole K3DD11_037 from 78-82m: 4m at 11.02% Zn; 0.07% Cu
- Hole K3DD11_044 from 187-209.1m: 22.1m at 6.87% Zn; 0.14% Cu
and 214-221m: 7m at 6.69% Zn; 0.65% Cu
- Hole K3DD11_052 from 20-31m: 11m at 5.62% Zn; 0.22% Cu

The results from Zone 1 continue to confirm mineralisation at shallow depths and similar in grade as that found in Zones 2 and 3. In particular, Hole K2DD12_240 drilled in the southernmost edge of Zone 2 intersected 10m at 10.90% Zn. This confirms the mineralisation open in a southern direction positioned along the shear zone.

A complete tabulation of intersection results along with maps indicating the location of these holes in Zones 1, 2 and 3 are attached (refer Appendix - Summary of Intersection Results and Drill-Hole Locations).

It is noted that drill intercepts are reported as drilled; true thicknesses will be calculated at the interpretation and resource modelling stage. The drill intersections are almost perpendicular to mineralisation and no significant difference is expected in true and intersection thickness.

Alara Resources' Managing Director, Shanker Madan, said: "These latest results confirm the presence of additional mineralisation within Zones 1 to 3 and give us further confidence surrounding the feasibility and scale of the Khnaiguiyah Zinc Copper Project."

"The Khnaiguiyah Definitive Feasibility Study (DFS) is nearing completion and is expected to be finalised by the end of June 2012. Once the DFS is complete, Alara will move to the design and construction phase of the Khnaiguiyah Project," added Mr Madan.

DRILLING STATUS

Alara is continuing the infill and step-out drilling to extend mineralisation in
Alara is continuing the infill and step-out drilling to extend mineralisation in Zone 1 and Zone 2 with a view to identifying additional mineralisation prior to the completion of the Khnaiguiyah DFS in Q2 2012. Since the commencement of the Khnaiguiyah Zinc-Copper Project drilling programme, Alara has completed a total of 290 holes to 35,155 metres.

For the full announcement including tables and charts please visit:
http://media.abnnewswire.net/media/en/docs/72641-AUQ-ASX-Release_16May12.pdf

Shanker Madan 
Managing Director
T | +61 8 9214 9787 
E | smadan@alararesources.com

David Loch
Unicus
T | +61 3 9654 8300 
M | +61 411 144 787
E | david@unicusgroup.com.au

Venus Metals Corporation Limited (ASX:VMC) Processing of Diamondiferous Gravels Commences

newsroom@abnnewswire.net — Fri, 11 May 2012 09:04:00 GMT

The Directors of Venus Metals Corporation Limited (ASX:VMC) are pleased to report that processing of diamondiferous gravels at the Argyle Smoke Creek Alluvial Diamond project has commenced for economic evaluation.

Venus' Argyle Smoke Creek Alluvial Diamond Project lies adjacent to the Argyle diamond mine (Figure 1).

The Smoke Creek Alluvial Diamond Project has a JORC Inferred Diamond Resource of 6,000,000 carats.

After economic and resource confidence consideration, with a cut-off of 10 CPHT applied, the Inferred Resource has been estimated at 21.5 Mt at an average grade of 28 CPHT for a total of 6,000,000 carats (refer ASX announcement 7 September 2011).

The 1979 discovery of alluvial diamonds in Smoke Creek led to the discovery of the world-class Argyle diamond deposit.

Argyle Diamonds Ltd has operated its Argyle diamond mine in WA since 1985 although it had commenced alluvial diamond mining at nearby Smoke Creek in 1983. Argyle was the largest diamond mine in the world for many years, peaking at approximately 42.8m carats in 1994. Argyle Diamond Mines (ADM) operated an alluvial mine in upper Smoke Creek for many years, supplementing the hard rock AK1 production with the alluvial product which had a better quality distribution than AK1 and included the rare pink diamonds.

ADM's bulk sampling within the Venus ground recorded the presence of diamonds within all the samples taken (sample size was typically around 30 tonnes). The highest grade ADM recorded was from bulk sample SC24-6 which returned 200 carats/hundred tonnes (CPHT) from the sample depth interval 5-6 metres. Other encouraging results included bulk sample SC22-1 which returned 186 CPHT from surface to one metre depth, and sample SC31-3 which returned 185 CPHT from 2-3 metres.

In February 2012 Rio Tinto announced that it had discovered Australia's biggest rough pink diamond at Argyle weighing 12.76 carats with an estimated value of around $20million. Indeed, one report in the Daily Mail (UK) speculated it could fetch as much as GBP25m at auction. This stone is currently being cut & polished at Argyle and may be included in Argyle's Pink Diamonds Tender. This stone, while it is rare, demonstrates that the AK1 pipe can produce some very special stones.

The Venus Smoke Creek Alluvial Diamond Project contains the same diamondiferous gravels as those already mined by Argyle in upper Smoke Creek and are derived from the Argyle (AK1) lamproite pipe at the head of Smoke Creek.
Tom Albanese, Chief Executive Officer of Rio Tinto was quoted in the company's "Rare and Collectable" press release (July 2010) saying:

"Thirty years ago there were very few people who believed Australia could hold the secret of diamonds - even fewer could foresee the discovery of the rarest of all diamonds - the Argyle pink diamond."

The release further stated "...with only a decade of remaining mine life at Argyle, these rare pink diamonds are becoming rarer".

Another Rio Tinto press release (September 14, 2010) states that: "the Argyle Diamond Mine... produces virtually the entire supply of the world's pink diamonds". Also - "Pink diamonds are among the most intriguing and highly valued gems in the world both because of their richness, colour and rarity".

Venus' Argyle Smoke Creek Alluvial Diamond Deposit potentially provides a new source of genuine, Kimberley Process compliant, issue-free Australian diamonds including the rare pinks.

The purpose of Venus' bulk sampling and diamond recovery program is to establish the quality and value distributions of diamonds recovered for economic modelling for international marketing and funding proposals and commercialisation strategies.

Diamond results from the program will be announced to ASX as soon as they become available.

To view the complete Venus Metals announcement including Figures, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-VMC-589476.pdf

Venus Metals Corporation Limited
T: +61-8-9321-7541
F: +61-8-9486-9587
WWW: www.venusmetals.com.au

Venus Metals Corporation Limited (ASX:VMC) Quarterly Activities and Cashflow Report

newsroom@abnnewswire.net — Fri, 27 Apr 2012 16:20:00 GMT

Venus Metals Corporation Limited (ASX:VMC) exploration activities conducted during the quarter ending 31 March 2012 includes soil sampling and assaying at Yalgoo Iron Ore Project, assaying of RC chip and soil samples at Bassit Bore Prospect, reconnaissance RAB drilling programme at Yarloo Well and preparation for processing diamondiferous alluvial gravels at Smoke Creek.

EXPLORATION HIGHLIGHTS:

1. YALGOO IRON ORE PROJECT

- To delineate the potential target areas for magnetite mineral resources within E59/1611, a detailed desktop study was conducted using aeromagnetic data.

- 288 soil samples on a 100mx100m grid were collected in E59/1611 and assayed for Iron and other metals. Anomalous Ag, Fe and Ni values warrant follow up work.

- Discussion continued with the company's Chinese partners regarding future work programs to assist with commercializing the project.

2. BASSIT BORE PROSPECT

- 25 RC holes for a total depth of 1,980 m were completed as a first pass reconnaissance drilling program during the last quarter at the Bassit Vein and Kempton Vein areas. Intersections of mineralised zones with Au, Ag and Cu are as follows.

Kempton Vein:

- 2m 1.83 g/t Au (54-56m) includes 1m of 2.52 g/t Au (54-55m) 6m 0.42% Cu (22-28m) including 1m 0.9% Cu (26-27m) 10m 1.43 g/t Ag (22-32m) (BBKRC04)

- 2m 1.21 g/t Au (51-53m) and 1m 0.21% Cu (51-52m) (BBKRC06)

Bassit Vein:

- 2m 1.70g/t Au, 3.1g/t Ag and 0.15 % Zn (23-25m) (BBRC14)

- 1m 1.76g/t Au (55-56m) (BBRC03)

- 1m 20.1g/t Ag and 0.14% Cu (46-47m) (BBRC04)

- A new target area was also identified on the southeastern side of Bassit shear zone namely "Eclipse South New Drill Target Zone" based on high anomalous Au (up to 1060 ppb) values recorded in soils.

- A detailed close spaced RAB drilling programme is planned to test the mineralised zones at shallow depths in and around the promising Kempton Vein and Eclipse South New Drill Target areas.

- The option to purchase the exploration licence has been extended for a further period of 6 months.

3. YARLOO WELL BASE METALS PROJECT

- In order to understand the stratigraphy and to test the VTEM anomalies, eight RAB holes were drilled at selected targets for a total depth of 367m.

These shallow drill holes have intersected granite/granodiorite basement rocks at 15m to 32m with few crystalline quartz-calcite veins. The assay results are not showing any halo effects and mineralisation at shallow depths.

Recently CSIRO has collected water samples in and around Yarloo Well during their second stage of hydrogeochemical survey. Further deeper drilling is planned dependent on the results of the survey.

4. ARGYLE SMOKE CREEK ALLUVIAL DIAMOND PROJECT

- The preparation for processing of diamondiferous gravels over 6,000 tonnes is in progress and expected to commence shortly.

To view the complete Venus Metals Corporation Quarterly Report, please click on the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-VMC-587292.pdf

Venus Metals Corporation Limited
T: +61-8-9321-7541
F: +61-8-9486-9587
WWW: www.venusmetals.com.au

Alara Resources Limited (ASX:AUQ) Drilling Update - Khnaiguiyah Zinc-Copper Project, Saudi Arabia

newsroom@abnnewswire.net — Wed, 11 Apr 2012 18:03:56 GMT

Australian-based minerals exploration and development company Alara Resources Limited (ASX:AUQ) ("Company") is pleased to report the results from an ongoing drilling programme at its Khnaiguiyah Zinc-Copper Project in Saudi Arabia.

The drilling results announced today confirm the possibility of significant additional mineralisation to the JORC Resource(1) announced on 21 February 2012 and represent a progressive update on the Company's 10,000m backlog of additional drilling conducted since the drilling cut-off date of 22 November 2011 for the JORC Resource estimation from the Khnaiguiyah Zinc-Copper Project in Saudi Arabia.

Alara is pleased to announce the drilling results covering a total of 27 holes including an additional 15 holes from Zone 2 and a second batch of results from Zone 1 comprising 12 holes. These results are outside the resource area and confirm additional mineralisation by Zone 1 and Zone 2 (North extension).

Drilling is continuing in Zones 1 and 2 to explore mineralised extensions the results of which will be announced in the following months.

DRILLING HIGHLIGHTS

ZONE 1:
- Hole K1RC11_188      from 27-34m:           7m at 8.32% Zn; 0.21% Cu

- Hole K1RC11_189      from 27-32m:           5m at 7.7% Zn; 0.15% Cu
                        and 40-44m:           4m at 13.21% Zn; 0.15% Cu

- Hole K1DD11_190      from 19-26m:           7m at 9.02% Zn; 0.38% Cu

- Hole K1DD11_193      from 62-67m:           5m at 7.69% Zn; 0.57% Cu

ZONE 2:

- Hole K2DD11_159      from 50-62m:           12m at 7.18% Zn; 0.11% Cu

- Hole K2DD11_167      from 159.45-168m:      8.55m at 7.65% Zn; 0.08% Cu

- Hole K2DD11_157      from 23-26m:           3m at 5.69% Zn; 0.15% Cu

ZONE 2 (Copper Rich Zone):

- Hole K2DD11_158      from 105-115m:         10m at 0.59% Cu

- Hole K2DD11_161      from 132-148m:         16m at 1.31% Cu
                       including 138-143m:    5m at 2.5% Cu

- Hole K2DD11_162      from 150-167m:         17m at 0.51% Cu

- Hole K2RC11_160      from 177-184m:         7m at 1.4% Cu
                       including 181-183m:    2m at 3.32% Cu

*(1) The measured, indicated and inferred JORC Code compliant resource at Khnaiguiyah (21-Feb-12) comprises 26.4Mt at 3.9% Zn and 7.0Mt at 0.8% Cu for 1,035,948 t Zn (2,284m lbs) and 56,376 t Cu (124m lbs) respectively.

The results of Zone 1 continue to confirm mineralisation at shallow depths and similar in grade as that in Zones 2 and 3.

In Zone 2, holes K2DD11_167 and K2DD11_168 drilled confirms extension of mineralisation outside current resource area in North East direction. Mineralisation is open in North East direction.

A complete tabulation of intersection results along with maps indicating the location of these holes in Zones 1 and 2 are attached (refer Figure 1 and Table 1 for Zone 1 and refer Figure 2 and Table 2 for Zone 2).

It is noted that drill intercepts are reported as drilled; true thicknesses will be calculated at the interpretation and resource modelling stage. The drill intersections are almost perpendicular to mineralisation and no significant difference is expected in true and intersection thickness.

Alara Resources' Managing Director, Shanker Madan, said: "These latest results confirm the additional mineralisation within Zones 1 and 2 and give us further confidence surrounding the potential feasibility and scale of the Khnaiguiyah Zinc-Copper Project."

DRILLING STATUS

The Company is continuing the infill and step-out drilling to extend mineralisation in Zone 1 and other Zones with a view to identifying additional mineralisation prior to the completion of the Khnaiguiyah DFS in Q2 2012. Since the commencement of the Khnaiguiyah Zinc-Copper Project drilling programme, Alara has completed a total of 260 holes to 33,078 metres.

To view the complete Alara Resources announcement including Tables & Figures, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/72248-ASX-AUQ-20120411.pdf

Shanker Madan
Managing Director
Alara Resources Limited
T: +61-8-9214-9787
F: +61-8-9322-1515
E: smadan@alararesources.com
http://www.alararesources.com

David Loch
Unicus
T: +61-3-9654-8300
M: +61-411-144-787
E: david@unicusgroup.com.au

Australian Resources Go To New York - Casimir Capital's 2nd Australian Resources Conference

newsroom@abnnewswire.net — Sun, 18 Mar 2012 09:27:49 GMT

Casimir Capital, a leading investment bank specializing in natural resources, has announced the 2nd Annual Casimir Capital Global Australian Mining Conference, which will take place on March 26th at the Waldorf Astoria Hotel in New York City. "Building on last year's resounding success, this event will connect 30 premier Australian mining companies with the most highly regarded natural resources investors in the world," said Richard F. Sands, President and CEO of Casimir Capital. "In addition to the general session and corporate presentations, a major focus of the conference will be facilitating hundreds of one-on-one meeting opportunities between presenting companies and institutional investors."

Founded over a decade ago, Casimir Capital has established itself as a major global participant in the mining and energy industries. Casimir Capital is headquartered in the United States and has affiliates and personnel in Canada, Brazil, Australia and the United Kingdom.

Attending Companies:
Alacer Gold (ASX:AQG) (TSE:ASR)
Allied Gold Mining (ASX:ALD) (TSE:ALD) (LON:ALD)
Azimuth Resources (ASX:AZH)
Beadell Resources (ASX:BDR)
Blackthorn Resources (ASX:BTR)
Centaurus Metals (ASX:CTM)
Cluff Gold (TSE:CFG) (LON:CLF)
Cokal (ASX:CKA)
Coventry Resources (ASX:CVY)
Crusader Resources (ASX:CAS)
Doray Minerals (ASX:DRM)
Dragon Mining (ASX:DRA)
Encounter Resources (ASX:ENR)
Highlands Pacific (ASX:HIG)
Kagara (ASX:KZL)
Kingsrose Mining (ASX:KRM)
Lemur Resources (ASX:LMR)
MacPhersons Reward Gold (ASX:MRP)
Marengo Mining (ASX:MGO) (TSE:MRN)
Metals X (ASX:MLX)
Panoramic Resources (ASX:PAN)
Ramelius Resources (ASX:RMS)
Red 5 (ASX:RED)
Robust Resources (ASX:ROL)
Saracen Minerals Holdings (ASX:SAR)
Silver Lake Resources (ASX:SLR)
St. Barbara (ASX:SBM)
Westgold Resources (ASX:WGR)

Additional conference information can be found at:
http://www.casimirconference.com

For more information on Casimir Capital (member FINRA, SIPC, MSRB), please visit www.casimircapital.com.

546 Fifth Avenue
Fifth Floor
New York, NY 10036
 
Phone: 888-744-1922
Phone: 212-798-1300
Fax: 212-798-1399
 
E-mail: info@casimircapital.com

Celamin Holdings NL (ASX:CNL) Kef Rebiba Trench Assays Confirm Prospectivity

newsroom@abnnewswire.net — Fri, 2 Mar 2012 08:59:00 GMT

Celamin Ltd (ASX:CNL) in conjunction with Joint Venture partner Tunisian Mining Services SARL (TMS)) have completed two trenches at Kef Rebiba on the Bir El Afou Exploration Permit (EP) in Northern Tunisia. The permit is jointly held with TMS.
This is the first work by Celamin TMS on this part of the Bir El Afou (BEA) permit area. The location of these trenches and the results for the two trenches are summarised in the full announcement. (See Link Below)

As can be seen from the assays there are three phosphate horizons at Kef Rebiba. The phosphate layers are separated by 0.3 to 1.3metre thick beds compact marl with silexite (silica nodules) and limestone that grade less that 5% of less P2O5. The upper part of each layer generally has the highest grade. It might be possible to upgrade the phosphate rock prior to treatment by simple screening. This will be tested are part of a future metallurgical program for material from Kef Rebiba.

The Kef Rebiba plateau is structurally very different from the other prospects within the BEA project area. Kef Rebiba is essentially a flat mesa with the phosphate rich horizon exposed on three sides. In this regard it is similar to the Gassaa Kebira prospect at Chaketma. Most of the other prospects at BEA are monoclines with the phosphate exposed on only one face. Kef Rebiba was mined for a brief period prior to 1940. However, experience at Gafsa (centre of Tunisian phosphate production) shows that only 30% of the available ore could be extracted by the room and pillar stoping method used at that time.

The standard of trenching is high; the trenches are dug perpendicular to stratigraphy and sampling to geological boundaries is carried out along channels cut uniformly with an angle-grinder. The position of each sample is determined by hand-held GPS. Sample locations are marked with spray paint for later pick up by a surveyor.

Celamin is yet to compile historic data for Kef Rebiba. However, comparisons between historic and new results at Chaketma confirm the accuracy of the historic assay techniques.

PROJECT DESCRIPTION

The BEA phosphate project area was granted to Celamin and TMS on the 16 February 2010. It is one of only two privately held concessions for phosphate in North Africa, the other being Chaketma which is also held jointly by Celamin and TMS. All other phosphate deposits are reserved for state controlled enterprises. Celamin has agreed to a 50% Tunisian interest in each project at the time of development. Under the terms of the agreement Celamin will fund of 95% of the Pre-Feasibility Study (PFS) costs and 70% of the Feasibility Study (FS) costs of the first development project. All costs thereafter will be according to percentage participation in the project or projects.

Bir El Afou is located in northern Tunisian Eocene sedimentary basins that were uplifted and structurally deformed post-deposition. BEA typically has three phosphate units, which are separated by internal waste. The top most unit is usually a phos-arenite with coarse grained coprolite.

Celamin TMS initially focused on BEA. Between work commencing in December 2010 and August 2011, Celamin and TMS have completed 5,360m of diamond core drilling (66 holes), and 229m of trenching & pitting (17 openings).

The Pre-Feasibility Study on BEA showed:

- Maiden Inferred Resource of 29Mt at 11.1% P2O5 at 7.5% P2O5 cutoff grade;
- High grade 30% P2O5 phosphate rock concentrate achievable at 150 micron grind;
- Additional exploration targets with potential for 115 to 175 million tonnes phosphate exist at Kef Rebiba, Bea El Afou Blocks D, E, F and Majuoba;
- Good potential to increase grade, tonnage and improve mining factors during further Delineation Phase;
- Project enjoys significant advantages with large identified Target Potential situated in a favorable geographical location and geopolitical jurisdiction;
- no 'fatal-flaws' to development potential targeting 1.5Mtpa phosphate rock production for export sales ;
- Access to existing well located infrastructure and services;
- Encouraging investment terms (5-year tax holiday);
- A well educated local community with job creation as a strong social imperative.
- The major findings of the BEA PFS are applicable to the Chaketma Project, which has similar geology, mining, processing and infrastructure requirements;
- BEA and Chaketma Projects could share process and infrastructure facilities reducing capital cost;

Please view full announcement for all tables, charts and diagrams at:
http://media.abnnewswire.net/media/en/docs/ASX-CNL-370244.pdf

Celamin Holdings NL
T: +61-3-9692-7222
F: +61-3-9529-8057
WWW: celaminnl.com.au