Asian Activities Report for September 2, 2011: Investigator Resources (ASX:IVR) Announces High Grade Silver Discovery in South Australia
Apollo Minerals Limited (ASX:AON) has identified strong potential for large volumes of iron mineralisation on the Company's 100% owned Commonwealth Hill property in South Australia. Review has confirmed potential for iron mineralisation in the form of both Direct Shipping Ore and coarse grained magnetite. Initial Exploration Target at Sequoia Prospect has been estimated to range between 40-80 million tonnes of magnetic iron mineralisation at an expected grade of 25-35% Fe over a 1 km strike length.
Venturex Resources Limited (ASX:VXR) announced a 45% increase in the JORC Reserve to 5.7 million tonnes at the Sulphur Springs Copper-Zinc Deposit, a key part of the Pilbara VMS Copper-Zinc Project. Relatively low mining costs and a higher than expected mining rate together with excellent metallurgy are all very positive for the Pilbara VMS Copper-Zinc Project Bankable Feasibility Study. Detailed production scheduling is currently being undertaken which is likely to result in a production rate of 700,000-800,000 tonnes per annum.
GBM Resources Limited (ASX:GBZ) said today that the first drillhole completed on the Bungalien project farm-in area in Queensland has returned a broad interval of copper mineralisation. The hole returned a broad interval of anomalous copper mineralisation over 200m averaging almost 0.1% Cu, and including 24m averaging 0.28% Cu. A second hole is now in progress.
Venturex Resources Ltd
GBM Resources Limited
Apollo Minerals Limited.