Asian Activities Report for October 26, 2011: Enterprise Metals (ASX:ENT) Applies for Five Uranium Exploration Licences in Western Australia
Sydney, Australia (ABN Newswire) - Enterprise Metals Limited (ASX:ENT) has lodged five new exploration licence applications for the the Ponton Uranium Project in Western Australia. The five licences cover a total area of 1,240km2, where Enterprise has identified a number of prospective uranium deposits with additional potential for gold and base metals. The applications add to the Company's already strong portfolio of high quality grass roots uranium projects. An aggressive drilling program is expected to commence in 2012 to test all of these projects.
Alkane Resources Limited (ASX:ALK) has signed a Memorandum of Understanding with a European company to produce and market ferro-niobium (FeNb) using niobium concentrate from Alkane Resources' Dubbo Zirconia Project. The parties will form a joint venture to produce over 3,000 tonnes of FeNb from 100% of the niobium produced from the Project, which is expected to begin production in 2014.
Legacy Iron Ore Limited (ASX:LCY) announces that phase 2 of the Mount Bevan resource definition drilling programme continues to intersect thick sections of magnetite. Drilling has extended strike a further 3km to the South with intersections up to 140m at 34.0% Fe. Results are in line with Exploration Target for magnetite of 1.5-2.0 Bt grading 30%-40% Fe, for the southern part of the Western target alone.
Uranex Limited (ASX:UNX) has confirmed the presence of coal within the Lumecha Coalfield, part of its 100% owned Songea Coal Project in Southern Tanzania. The result has confirmed a down dip extension of outcropping coal identified near the licence boundary. The current 20 hole RC and Diamond program is expected to be completed in late November 2011.
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