Asian Activities Report for August 31, 2011: Carbine Resources (ASX:CRB) Report High Grade Gold Results from Madougou Project in Burkina Faso
Sydney, Aug 31, 2011 AEST (ABN Newswire) - Carbine Resources Limited (ASX:CRB) reported additional high grade assay results from the Nimbo Prospect within the Madougou Project in Burkina Faso. Best intersections included 2m at 73.2g/t gold, 8m at 12.4% gold and 11m at 4.9g/t gold. Mineralisation is shallow and open in all directions. The Company plans to commence a series of drilling programs and move the Prospect to resource status within 12 months.
Uranium Equities Limited (ASX:UEQ) says today that Cameco Corporation (NYSE:CCJ) has purchased the Founders' 10% interest in the PhosEnergy Process for US$4.5 million and Uranium Equities has a 6-month option to purchase 30% of this interest from Cameco. PhosEnergy applies conventional technologies in an innovative manner to achieve low operating costs for uranium production and high uranium recoveries.
AusQuest Limited (ASX:AQD) has received further highly anomalous silver results from the emerging Phaco Prospect at its Comoe Joint Venture in Burkina Faso. Best results included 20 metres at 45.96g/t Ag and 36 metres at 18.45g/t Ag. The extensive nature of the silver intersections confirms the gold-silver association at Phaco Hill and supports the concept of potential VMS-style mineralisation extending to depth.
Niuminco Group Limited (ASX:NIU), formerly DFS International Holdings Limited, re-listed on the ASX yesterday after successfully finalised a A$12 million capital raising. The funds will be utilised to support upcoming exploration activities in prospective copper-gold areas in Papua New Guinea. Niuminco's exploration interests are located in close proximity to some of the largest mines and gold and copper discoveries in the region.
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