Asian Activities Report for May 6, 2011: Globe Metals And Mining Limited (ASX:GBE) Announce Virgin Rare Earth Discovery In Malawi
Sydney, May 6, 2011 AEST (ABN Newswire) - Globe Metals & Mining Limited (ASX:GBE) said today that a reconnaissance sampling program undertaken in late 2010 has discovered the first ever rare earth and specialty metal mineralisation at Mount Salambidwe in southern Malawi. High values of rare earth oxides were returned. The company will commence an aggressive exploration program in 2011 to further test the new discovery.
Argo Exploration Limited (ASX:AXT) and its joint venture partner Xstrata Copper Limited will commence drilling at the Oak Dam South prospect and the Winjabbie East prospect in mid May. Both prospects have high priority targets with the potential to host significant iron oxide copper-gold mineralized systems. Logistics for the operation are well in hand and initial drill sites are being prepared ahead of rig arrival.
Alkane Resources Limited (ASX:ALK) has identified 2 million tonnes of Indicated Resources grading 0.99% copper and 0.3g/t gold at the Galwadgere copper-gold deposit in central west of New South Wales. The results have extended the mineralisation 200 metres down plunge and added to the resource potential. The Company will commence further drilling to evaluate this extended resource potential.
Sentosa Mining Limited (ASX:SEO) has commenced a sampling program at the Jaurdi Hills Gold Project in Western Australia to better delineate existing gold anomalies discovered during 2010. A follow-up drilling program is also planned to test historic high grade gold intercepts including 4m at 7.8g/t Au, 5m at 1.91g/t Au and 1m at 6.8g/t Au.
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Sentosa Mining Limited
Globe Metals & Mining Limited
Argo Exploration Limited
Alkane Resources Limited