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Asian Activities Report for June 24, 2011: Iron Ore Holdings Limited (ASX:IOH) Announce Resource Upgrade at Iron Valley Project to 259Mt
Asian Activities Report for June 24, 2011: Iron Ore Holdings Limited (ASX:IOH) Announce Resource Upgrade at Iron Valley Project to 259Mt
Sydney, June 24, 2011 AEST (ABN Newswire) - Major Asian markets had a mixed opening. Australian stocks fluctuated with S&P/ASX 200 down 0.09% to 4496.3 in early trade. Nikkei 225 jumped 0.42% to 9,637.18. Hang Seng Index rose 0.39% to 21843.76, while Shanghai Composite lost 0.33% to 2679.27.

Company News

Iron Ore Holdings Limited (ASX:IOH) announced an 8% increase of the JORC compliant Mineral Resource from 240Mt to 259Mt at the Iron Valley Project in Western Australia. The total Indicated Resource is now 216.3Mt and the Inferred Resource is 42.8Mt, with an average grade of 58.3% Fe. This Mineral Resource increase will further support the mining pre-feasibility study activities currently underway.

Gondwana Resources Limited (ASX:GDA) has discovered significant Rare Earth Elements (REE) at Trigg Hill Rare Earths Prospect in Western Australia. Assay results showed a number of strong anomalous zones with total REE metal grades up to 0.132%. A detailed sampling program is currently being designed and this will be carried out prior to drill testing of the anomalous zones.

Nemex Resources Limited (ASX:NXR) has commenced reverse circulation drilling at Woodley iron project, to be followed by Ironstone Well iron project. The two projects are located in the mid-west of Western Australia, targeting hematite direct shipping ore. Results are expected in August.

Alexium International Group Limited (ASX:AJX) has been granted a patent for its smart surface technology in Singapore, which further bolsters Alexium's intellectual property portfolio following patent grants in the UK and Hong Kong. The smart surface technology can provide functions such as water proofing, oil proofing, antimicrobial, non-stick and UV protection, and can be used in textiles, paints, packaging, glass and building materials.

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Related Companies

Nemex Resources Limited      
Iron Ore Holdings Limited             
Gondwana Resources Limited     
Alexium International Group Limited             

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