Australian Market Report of December 10, 2010: Golden West Resources (ASX:GWR) to Acquire Highly Prospective Gold Tenement in Senegal
Canyon Resources Limited (ASX:CAY) has secured two new gold tenements in Burkina Faso, West Africa. The newly granted tenements are contiguous to Canyon's 100%-owned Tarparko North Project and the purchase increases Canyon's total landholding in Burkina Faso to 1,124km2. The new areas extend Canyon's coverage along the Markoye Fault, which hosts a number of multi million ounce gold deposits, including the Tarparko (1.7Moz), Essakane (5.3Moz), Kiaka (2.7Moz) and Bomboré (3.5Moz) gold deposits.
Northern Star Resources Limited (ASX:NST) has again increased the known depth of the Voyager 1 lode at the Paulsens gold mine in WA, opening the door to further significant increases in production and mine life. Significant results include 2.0m at 77.1 g/t gold and 1.2m at 73.1 g/t gold. Latest results show the Voyager 1 lode currently being mined continues, and remains open, at depth.
Cullen Resources Limited (ASX:CUL) is pleased to advise that Fortescue Metals Group Limited (ASX:FMG), as Manager of the Wyloo Iron Ore Joint Venture, has reported a number of significant RC drilling results from the Wyloo South and Wyloo North, Bedded Iron Ore Prospects located in the West Pilbara. Results received include: 36m at 62.2% Fe from 48m, 33m at 61.6% Fe from 21m and 32m at 61.2% Fe from 1m. Fortescue has previously indicated it expected that the Wyloo South drilling will have outlined an Exploration Target of at least 30Mt of mineralisation.
Northern Star Resources Ltd
Golden West Resources Limited
Fortescue Metals Group Ltd
Cullen Resources Limited
Canyon Resources Limited