Asian Activities Report for July 11, 2011: Royal Resources (ASX:ROY) Doubles Magnetite Resource to 537 Million Tonnes at Razorback Iron Ore Project
Royal Resources Limited (ASX:ROY) has doubled the Phase II JORC compliant Inferred Resource to a total of 537.2Mt at 25.5% Fe at its 100%-owned Razorback Iron Ore Project in South Australia. This upgrade was met with less than 60% of the planned drilling, and drilling so far has shown excellent continuity supporting the potential for future significant resource upgrades. An Indicated Resource for Razorback is currently being compiled.
Metminco Limited (ASX:MNC) said today that its 100%-owned Los Calatos copper-molybdenum project in south Peru has been declared a "Project of National Interest" by the Peruvian Government. This designation will allow Metminco to acquire surface title to the Los Calatos project tenements. Metminco is currently undertaking a 50,000m diamond drill program which is designed to infill and extend the current resources at Los Calatos which contains approximately 4.7 million tonnes of copper equivalent metal.
Realm Resources Limited (ASX:RRP) said today that JORC inferred resource of 40.5Mt has been defined on the main seam in the Southern area of the Katingan Ria thermal coal project in Indonesia. The scoping study for development of an initial 3mtpa open pit operation in the Southern area is now underway. The Katingan Ria Project is an advanced thermal coal exploration project with the potential to progress to mining within 12 months. Realm Resources has an exclusive option to acquire a 75% interest in this project.
MIL Resources Limited (ASX:MGK) will commence a diamond drilling program of up to 4000 metres at its Golden Peak and Poi gold/copper projects in late August in Papua New Guinea. The Golden Peak drill targets will include the 20 metres at 7.21g/t Au trench identified during the geochemical sampling program earlier in 2011.
Realm Resources Limited
MIL Resources Limited
Magnetite Mines Ltd