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Australian Market Report of November 16, 2010: Mantra (ASX:MRU) Tanzanian Resource Increases by 20% to 101.4 Mlbs U3o8
Australian Market Report of November 16, 2010: Mantra (ASX:MRU) Tanzanian Resource Increases by 20% to 101.4 Mlbs U3o8
Sydney, Nov 16, 2010 AEST (ABN Newswire) - Mantra Resources Limited (ASX:MRU) has updated the Mineral Resource Estimate for the Company's Nyota Prospect, part of the wholly owned Mkuju River Project in southern Tanzania. The resource has been estimated at 108.9 million tonnes averaging 422 ppm U3O8 for a contained 101.4 million pounds of U3O8. Majority of the resource is within 60 metres of surface. The company will commence an exploration drilling program until mid December 2010 to test a number of target areas adjacent to the existing resource areas at Nyota.

Diversified renewable energy company, CBD Energy Limited (ASX:CBD), has begun work on its solar power plant in Thailand. The project, which covers design, equipment supply, construction, operation and maintenance, is being undertaken by wholly owned CBD subsidiary, eco-Kinetics. Stage 1 of the project is 8 MW, with a possible subsequent stage taking it to a 99 MW project having a value of in excess of A$300 million. The stage 1 is expected to be completed during the first half of 2011.

Peninsula Minerals Limited (ASX:PEN) has completed a further 46 development drillholes for a total of 28,050 feet at the Ross Project. The highlights of the drilling include drillhole RMR0753 which intersected 43.5ft at 245ppm U3O8 and drillhole RMR0772 which intersected 13ft at 460ppm U3O8. Current drilling at Ross is testing extensions of the known mineral zones identified by the 3D geological model, enhancing the grade and definition of the current 25,200,000 lb U3O8 JORC compliant resource and upgrading existing inferred resources to indicated status.

Iron Mountain Mining Limited (ASX:IRM) announced an additional Inferred Bauxite Resource of 44.2Mt within E70/2692 in the Central Bindoon region within the Wandoo Bauxite Project in Western Australia. Current Global Inferred Resources of bauxite at Wandoo are now in excess of 61Mt. Resource estimation on data accumulated from the maiden drilling program within E70/2693 is underway. Specifications for bulk sampling and metallurgical test work have been finalised.

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