Asian Activities Report for October 13, 2011: Latrobe Magnesium (ASX:LMG) Moves Towards Bankable Feasibility Study
Northern Star Resources Limited (ASX:NST) today announced the most spectacular resource extension drilling results yet at its Paulsens Gold Mine in Western Australia, including 18.8 m at 62.7 g/t gold, 6.4 m at 120.2 g/t gold and 13.3 m at 12.2 g/t gold. The rsults will contribute towards a resource upgrade for Voyager 1 and subsequent upgraded mine plan, production forecasts and cashflow projections. New mine plan will form part of Northern Star's strategy to grow production from 80,000ozpa to 200,000ozpa.
Deep Yellow Limited (ASX:DYL) has completed a maiden Mineral Resource estimate for its MS7 Prospect in Namibia, totalling 2.7 Mt at 400 ppm U3O8 for 2.3 Mlbs U3O8. As a result, the Company's resource base in Namibia has increased to over 95 Mlbs U3O8. Further resource upgrades are expected before the end of the year.
MOD Resources Limited (ASX:MOD) has reached an agreement with a wholly owned subsidiary of OceanaGold Corporation (ASX:OGC) to earn up to 80% of New Zealand's largest undeveloped gold deposit, Sams Creek. Sams Creek currently hosts a JORC compliant inferred gold resource of 770,000 ounces, and the resource is estimated from only 10% of the known 6km strike length. Drilling programme is planned to begin in November 2011.
Northern Star Resources Ltd
MOD Resources Limited
Latrobe Magnesium Limited