Asian Activities Report for August 26, 2011: Winmar Resources (ASX:WFE) Reports Excellent Results from Hamersley Iron Ore Project
Sydney, Aug 26, 2011 AEST (ABN Newswire) - Winmar Resources Limited (ASX:WFE) announced excellent results from the Hamersley Iron Ore Project in Western Australia. Drilling returned 84 metres at 54.8% Fe, 36 metres at 56.2% Fe and 22 metres at 56.8% Fe. As a result of the highly successful exploration to date with mineralisation remaining open in most directions, the Exploration Target for the Project has been upgraded to 350-400mt at 54-56% Fe.
Newland Resources Limited (ASX:NRL) has commenced a drilling program on the Comet Ridge coal project in Central Queensland. Drilling is expected to provide additional information on cumulative coal thickness and raw coal quality. This information will be used in the preparation of the maiden JORC Resource Statement which NRL plans to release early in the fourth quarter.
King Solomon Mines Limited (ASX:KSO) has resumed drilling at Mud-house gold prospect within the Sonid North gold project to follow up the encouraging results announced last month including 21.4g/t Au over 2 metres. The follow-up drilling is focused on a package of moderate to steeply-dipping gold-mineralised structures within a gold-anomalous corridor at least 1.8km long.
Fox Resources Limited (ASX:FXR) today announced the preliminary economic results of its Revised Scoping Study on the 100%-owned Radio Hill and Sholl Heap Leaching Projects in Western Australia. The Study details how Fox plans to mine an inventory of six million tonnes of mineralisation containing weighted average grades of 0.59% nickel and 0.79% copper. The Study has optimised the processing route to deliver improved economics and lower technical risk. The Project is estimated to produce revenues of A$815 million over the initial mine life.
REpower Systems SE, in which world's fifth largest wind turbine supplier Suzlon Energy Limited (BOM:532667) is the majority shareholder with approximately 95% holding, has signed a contract with Canadian renewable wind energy developer Wind Works Power Corp.(OTC:WWPW). REpower Systems will deliver a total of 25 wind turbines for five projects in Canada to generate a total output of more than 50 megawatts.