Australian Market Report of April 13: Condor Metals - To Prioritise Manganese Targets At Kallona Creek Project
Sydney, Australia (ABN Newswire) - Condor Metals Limited (ASX: CNK) has completed sampling and geophysical work at its Kallona Creek project in the East Pilbara, Western Australia. Rock chip samples returned 27-38% manganese and nickel-copper targets were identified. The Company considered the project prospective for both iron ore and manganese deposits and will prioritise manganese targets with a 85-hole drilling program planned in the latter half of May.
Energy Ventures Limited (ASX: EVE) said today that the diamond drilling programme currently in progress at its Aurora uranium project in USA has intersected uranium mineralisation with significant grade and thickness. Shallow mineralisation was also confirmed returning U3O8 grades of up to 744ppm. Drilling is continuing and is expected to be completed during April 2011.
Anatolia Energy Limited (ASX: AEK) reported initial results from its maiden drilling program at the Temrezli joint venture project in Turkey. Best results included 2.0m at 2,082ppm U3O8 and 2.0m at 1,583ppm U3O8. On the back of the encouraging results and with Turkey's announcement to continue its nuclear program with construction of its first nuclear facility commencing this month, the Company is confident to accelerate its exploration efforts at Temrezli and other regional sites in 2011.
Pepinnini Minerals Limited (ASX: PNN) said today that its joint venture with Sinosteel Corporation has identified a number of potential magnetite prospects within the tenements in the Curnamona Province, South Australia. The Joint Venture has prioritised the investigation of the iron ore potential of the tenements and is currently undertaking heritage clearance surveys for an initial drilling program to assess the potential magnitude of the resource.
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