Capella Resources has identified a new copper/gold porphyry target on its property in Peru. The airborne magnetic geophysical survey on the El Rojo and Habanero properties located in southern Peru was conducted by Geotech Ltd from Aurora in Ontario.
Having discovered a high grade vein system at its Mexican mine Gold Resource Corporation has decided to proceed with the El Rey mine underground exploration program. It will also be advancing its new underground exploration program at the Alta Gracia property. The company made a statement to this effect on Tuesday.
Capstone Mining has reported high grades of copper at its Cozamin Mine in Zacatecas, Mexico. The measured and indicated resources are being estimated at 1.45 million tonnes with 2.32% copper, 0.17% zinc and 36.6 g/t silver for 74.2 million pounds of contained copper.
Harvest Natural Resources has identified oil in the wildcat well Dussafu Ruche Marin-1 (DRM-1), which was drilled in the Dussafu Marin PSC that is located in Gabon’s offshore waters, West Africa.
Spartan Gold is a junior gold mining and exploration firm based in the U.S. and has gold exploration and development activity in the Round Mountain-Northumberland Gold Trends and Carlin-Rain in Nevada.
Peel Mining Ltd has announced that its exploration drilling at the 4 Mile prospect has found significant silver, lead and zinc mineralization. The prospect which is owned 100% by Peel Mining is located in the May Day Gilgunnia project, situated 100 km south of the Cobar.
Globe Metals & Mining have discovered virgin rare earth in Malawi. The discovery was made from a reconnaissance sampling program that it conducted at Mount Salambidwe in southern Malawi in south eastern Africa.
The drilling program at ECU Silver Mining's Velardena District shows promise as drill hole SJ-18-21 intersects two massive sulphide veins at 600 meters depth.
Quadra FNX Mining Ltd proclaimed the discovery of a significant resource at its Victoria copper and nickel project. The project located in Sudbury is stated to have about 3.4 billion pounds of contained copper with higher than usual grades found in the district.
Namibia is expecting about $3.5 billion worth of investments into its mining sector over the coming five years. As per the Mines and Energy Minister Isak Katali, the mining industry accounts for 15% of its total economic output in terms of GDP in the financial year ending March 2011.
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