Zijin Mining Group wants to buy a 60% stake in Altynken LLC, a Kyrgyzstan based gold mining company. The proposed $66 million bid is subject to approvals from both the Chinese and Kyrgyzstan governments. It filed its intentions to the Hong Kong bourse on Tuesday.
By Joel Scanlon
17 Aug 2011
Mount Gibson Iron has agreed to sell iron ore to Glencore International. The Australian mining company signed a deal with the Swiss trading giant to sell 48% of the mine production of iron ore from its Extension Hill mine in Western Australia. This would roughly equal to 1.44 million mt/year from the mine located 239 km away by rail from the port of Geraldton.
Kinross Fort Knox is to donate close to $1 million to the University of Alaska Fairbanks to help mining engineering research that they are carrying out. The monies will fund graduate research projects as per the dean of the college of Engineering and Mines. Projects that focus on real world mining challenges in Arctic conditions will also benefit from the money.
Empire Resources has announced high grade copper intersections from its drilling exploration at the A Zone in the Yuinmery copper gold project. The Yuinmery project, located 80 km south west of Sandstone, is one of two projects located in Western Australia that belong to the company. The other is the Wynne project.
The profits of Australian mining company OZ Minerals (ASX: OZL) have taken a hit this financial year dropping a drastic 72% at the half year point. Net profits at the copper mining company fell to $113.9 million from $405.7 million in the same period last year. The net profit for the calendar year 2010 had been recorded at $586.9 million.
Gold Hawk Resources has changed its name to Oracle Mining Corporation. The Vancouver based company is listed on the TSX Venture exchange and will now have its shares trade under the symbol OMN starting this Tuesday.
By Joel Scanlon
16 Aug 2011
OSISKO and OREX EXPLORATION is willing to offer the shareholders the results of the final assay from the diamond drilling operation that commenced during April, 2011 at the completely-owned Goldboro gold property of Orex in Nova Scotia.
Metallum Resources has declared that the company has begun an exploration campaign worth $CND 2.9 million that covers about 6,300 ha M-18 silver/gold property’s mineral rights at Chubut province in Argentina.
NuLegacy Gold, an exploration company based at Nevada, announced that it has added a soil gas sampling survey to its current drilling program at its Red Hill Prospect in Nevada. The prospect covers an area of 45 sq mi in Nevada’s Cortez gold trend.
By Joel Scanlon
16 Aug 2011
Oceanic Iron Ore has reported the third set of assays from the 2011 resource verification campaign. The recent assay results continue to associate well with the historic results.
By Joel Scanlon
16 Aug 2011
Cartier Resources has reported latest results from the channel samples, which yielded 83.57 g/t silver, 3.03% copper and 1.63% zinc over 10.0 m in a wider interval taken partly across a fold formation grading 31.84 g/t silver, 1.00% copper and 1.11% zinc over 58.0 m at the Cadillac extension project, which is situated 115 km east of Val-d'Or in Quebec.
Bearing Resources, a Canadian-based company exploring base and precious metals with projects conducted in the Yukon, British Columbia, and Mexico, has declared that the company has signed an option contract with Precipitate Gold, by which Precipitate can gain up to 70% interest in Bearing’s Jay East Property, situated in the Watson Lake mining district at the Yukon Territory.
By Joel Scanlon
16 Aug 2011
Argus Metals is continuing the diamond drilling at the Hyland gold project, which is situated in the Selwyn Basin, Yukon. The company is currently drilling three holes on the SE zone for assaying.
By Joel Scanlon
16 Aug 2011
Bolero Resources is advancing the work campaign at the White Gold prospect. This prospect is situated in Yukon’s White Gold District or Stewart River region that is nearby to the newly proclaimed discoveries by Kinross Gold and Kaminak Gold.
By Joel Scanlon
16 Aug 2011
Habanero Resources has begun the work program at the White Gold prospect, Yukon. The company has contracted Equity Exploration Consultants to conduct the work.
By Joel Scanlon
16 Aug 2011