Asian Activities Report for June 23, 2011: Realm Resources (ASX:RRP) Report Progress On Potential Acquisition of Indonesian Katingan Ria Coal Project
Sydney, June 23, 2011 AEST (ABN Newswire) - Major Asian markets opened weak today. In early morning trade, the S&P/ASX 200 was 0.24% lower to 4521.9. Nikkei 225 was down 0.05% to 9,624.75. Hang Seng Index lost 0.38% to 21777.11, while Shanghai Composite slipped 0.33% to 2640.66.
Realm Resources Limited (ASX:RRP) said today that due diligence regarding the potential acquisition of the Katingan Ria thermal coal project in Indonesia is well advanced, and the Company will commence scoping study over the next two months to decide whether to proceed with the acquisition. In addition, approximately 1,300 metres of drilling has identified four shallow coal seams with open cut potential, further highlighting the Project's robust nature.
Aurora Minerals Limited (ASX:ARM) announced preliminary assay results from its Glenburgh Project in Western Australia. Broad mineralisation zones of up to 21m at 0.5% Cu were intersected, with the best grades up to 2% Cu. The Company will commence 15,000 metres of additional drilling to further examine the mineralisation, which is open along strike and with depth.
Renaissance Uranium Limited (ASX:RNU) said today that initial results from recently completed multi-element soil sampling at its 100%-owned Cutana Project in South Australia has identified five areas of strong gold anomalies. The Company will commence follow-up work including infill geochemical sampling and drilling of gold targets.
Arafura Resources Limited (ASX:ARU) has extended the expected completion date of the Nolans Project Bankable Feasibility Study by nine to twelve months. The extended schedule will allow the company to simplify the Nolans Project flow sheet to focus predominately on production of rare earth products, in order to reduce operating and capital costs and de-risk the proposed Rare Earths Complex at Whyalla.
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