Australian Market Report of March 7, 2011: Argosy Minerals (ASX:AGY) Obtained Iron Ore And Chromite Exploration Licences In Sierra Leone
Quest Minerals Limited (ASX:QNL) announced a maiden JORC resource estimate of 151Mt at 25% Fe, 0.44% V2O5 and 6.73% TiO2 at its 100% owned Victory Bore tenement in Western Australia. The Company is currently reviewing a number of development scenarios for high grade vanadium and magnetite production at the project and is pursuing initiatives to identify a strategic partner to assist with project development during 2011.
Elemental Minerals Limited (ASX:ELM) announced further shallow high grade assay results from the Phase 1 drilling programme on the Kola Prospect at the Sintoukola Potash Project in Congo. Highest grades yet intersected on the prospect were reported, including 3.39m at 22.69% K2O, 4.04m at 23.62% K2O and 3.97m at 24.25% K2O. The Company will commence a more aggressive Phase 2 drilling programme to further define the potash mineralisation. The Project is expected to start operation in 2015.
Tiger Resources Limited (ASX:TGS) (TSE:TGS) today announced the results from the recently completed drilling programme at the Company's 100% owned Lupoto Permit in Congo. Assay results from the Sase Central Prospect confirmed the extension of the lower-grade copper mineralisation and significant copper intersects were reported at the Sase South Prospect including 12m at 1.2% Cu, 9m at 0.78% Cu and 11m at 0.67% Cu. The results provide further motivation for wide spaced drill testing at Sase Central and Sase South.
Tiger Resources Limited
Quest Minerals Limited
Elemental Minerals Limited
Argosy Minerals Limited