Asian Activities Report for August 4, 2011: Legacy Iron Ore Limited (ASX:LCY) Report Potential Magnetite Resource Increase at Mt Bevan Iron Ore Project
Sydney, Aug 4, 2011 AEST (ABN Newswire) - Legacy Iron Ore Limited (ASX:LCY) said today that field work at Mt Alexander, part of the Mt Bevan Iron Ore Project, has indicated potential for an additional major magnetite resource including DSO hematite resources. Exploration Target is estimated at 250-350Mt grading 30%-40% Fe, and is expected to add significantly to the already large magnetite resource at Mt Bevan of 617 Mt at 32.1% Fe.
Iron Ore Holdings Limited (ASX:IOH) announced results of Phase 1 Pre-Feasibility Study for the Iron Valley Project in Western Australia. Mine study confirmed technical viability of a staged development with a production rate of up to 15Mtpa for 12 years. Phase 2 PFS studies are expected to confirm the mine development potential, and due for completion by June 2012. Commercial discussions with potential project partners are underway.
Diatreme Resources Limited (ASX:DRX) has lodged a mining application for a 1,560 hectare area over the Cyclone heavy mineral project. The Cyclone resource currently stands at 132.1 million tonnes grading 2.33% heavy minerals. The project is expected to commence mining in 2015. With steady growth in the heavy mineral prices, the project's viability continues to strengthen.
Marmota Energy Limited (ASX:MEU) has identified multiple large-scale drill ready targets on its 100%-owned West Melton Copper Gold Project in South Australia. The potential strike length of the most significant anomaly is approximately 10 kilometres. Marmota plans to commence follow-up work over selected target areas.
Lanco Infratech Limited (BOM:532778), one of the fastest growing integrated infrastructure enterprises in India, has been selected as a bidder for the development of the Gare Pelma Sector II coal mine in central India. The bid envisages Lanco Infratech to develop and operate the coal mine and set up a power plant with 2000 MW capacity. The mine currently has a Geological Reserves of approximately 800 million tons.
Investorium.tv is hosting a live webcast for emerging energy companies on Monday 8th August in Sydney. The event will be webcast through the Investorium.tv platform from 4:45PM Sydney Time. Registration to attend the event in Sydney or watch the webcast can be made by visiting the Investorium.tv website, http://www.investorium.tv