Australian Market Report of December 6, 2010: South Boulder Mines Limited (ASX:STB) Reports More Ni-Cu-PGE Mineralisation in Western Australia
Berkeley Resources Limited (ASX:BKY) announced final results from the reverse circulation drilling program at Salamanca Uranium Project in Spain. Final chemical assay results from the RC drilling program extend the new north-west zone for 200 metres beyond the current resource outline. Notable Intersections include eU3O8 1,717ppm, 3,578ppm and 1,285ppm. A follow up program RC drilling program is planned to determine the limits of this extension.
Raisama Limited (ASX:RAI) and joint venture partner Monitor Energy Limited (ASX:MHL) announced that high grade uranium intersections from a new, three hole reconnaissance drilling program, have significantly extended the strike extent of Raisama's Kashkasu II uranium discovery in the Kyrgyz Republic. Mineralisation has now been successfully intersected over a strike extend of more than 2.6km. Best intersections included 3m at 538 ppm U3O8 and 2m at 477 ppm U3O8. The company is currently planning a program of drilling and trenching to expedite this project in 2011.
Bassari Resources Limited (ASX:BSR) announces further diamond drilling results from its Makabingui Prospect, Senegal, West Africa. Drilling intersected 4 meters at 6.5g/t Au from 48.4 metres and 10 metres at 3.3g/t Au from 33 metres, and confirmed the Mirkhoto lode over a 500 metre strike length. RC drilling is currently underway to follow up the Mirkhoto lode to the south where previous RC drilling intersected 7 metres at 4.7 g/t Au from 80 metres. The aim of this drilling is to extend the strike length of the lode a further 200 metres.
South Boulder Mines Limited
Monitor Energy Limited
Independence Group Nl
Berkeley Energia Ltd
Bassari Resources Ltd