Drake Resources said today that drilling at the Conchita gold prospect in Mauritania has confirmed extensive gold mineralisation. Grades of up to 10.23 g/t gold were returned, with all intersections averaging 3.5 g/t gold. The Company is planning a more widespread drilling programme to further explore the mineralisation.
PT ANTAM (Persero) said today that its subsidiary, PT Indonesia Coal Resources has acquired the Sarolangun coal mine in Indonesia. The acquisition costs Rp92.5 billion and represents the first step of PT ICR's expansion into the coal mining business. The Sarolangun coal mine has begun operation in June 2010 with a production capacity of around 200,000 tonnes in 2010. PT ICR plans to increase coal production to around [...]
Drake Resources today announced a placement of A$2.18 million to a number of Australian and HK institutions as well as high net worth individuals. The money raised will allow the company to execute its drill programmes in the world class Bergslagen copper-zinc district in Sweden and, importantly, explore the expanded land position in Mauritania, West Africa. The project in Mauritania is adjacent to the giant 12 million [...]
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