Australian Market Report of November 4, 2010: Artemis Resources (ASX:ARV) Rare Earth Results From Yangibana Confirm Strike Potential
Arc Exploration Limited (ASX:ARX) received further highly encouraging gold results from the Bima Project in Indonesia. Gold intercepts include 4m at 15 g/t Au and 4m at 34.3 g/t Au within a zone of 86m at 2.78 g/t Au. Results confirm the potential for a significant new gold discovery. Further trenching and ground magnetics surveys are underway and will be used to plan a scout drilling programme to commence in early 2011.
J-52 well spuds in Jupiter Energy Limited's (ASX:JPR) Block 31 in Kazakhstan. The J-52 well is part of the Company's 2010 exploration grogramme and is located to the south east of the successful J-50 East Akkar discovery. The well is vertical and prognosed to intersect secondary Jurassic reservoirs and primary middle Triassic reservoirs before drilling to a planned total depth of approximately 3200mTVD (true vertical depth). The well is anticipated to take approximately 70 days from spud through to running production casing and temporarily suspending the well.
Mindax Limited (ASX:MDX) announced further significant high grade uranium mineralisation at the Mukinbudin Project in Western Australia. A continuation of the scout drilling has identified a new prospect area - Yandegin, which may hold significant high grade uranium mineralisation. Very high grade Uranium at up to 0.63% U3O8 was encountered. Further drilling is planned for the first half of 2011 to define the resource at Yandegin.
Jupiter Energy Limited
Artemis Resources Ltd
Arc Exploration Limited