Asian Activities Report for August 31, 2011: Carbine Resources (ASX:CRB) Report High Grade Gold Results from Madougou Project in Burkina Faso
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.
Uranium Equities Limited
Niuminco Group Limited
Carbine Resources Limited