Australian Market Report of November 26, 2010: Corazon (ASX:CZN) Expands Base Metal Projects in Canada
YTC Resources Limited (ASX:YTC) announced further strong copper results from its ongoing drilling programme beneath the historic Nymagee Copper Mine in NSW. High grade results were recorded including 11m at 3.7% Cu and 15.7g/t Ag from 401m and 15m at 1.6% Cu and 7.2g/t Ag from 346m. The drilling beneath the Nymagee Copper Mine has now defined good continuity of high-grade copper mineralisation over 200m of strike. The next stage of drilling will include infilling this zone and defining the mineralisation at depth.
Apollo Minerals (ASX:AON) has completed its four-hole reverse circulation drilling programme at the Mount Oscar Magnetite Project in Western Australia. A total of 721 metres were drilled to test a portion of the magnetite-bearing banded iron formation which had not been previously drill-tested. Three of the four holes drilled successfully intersected the banded iron formation with down-hole intersections ranging from 66m to 111m, probably representing true widths from 50m to 85m. Metallurgical results of the samples are expected in the first quarter 2011.
Ampella Mining Limited (ASX:AMX) said today that deeper drill results have confirmed continuity of gold mineralisation at depth below 100m vertical on the Konkera 1.2Moz JORC Code Compliant Inferred Gold Resource. Gold assays are now being received for drilling of deeper extensions to mineralisation below 100m vertical at Konkera North, Konkera Main and Konkera East as part of an intensive A$13 million exploration program for 2010 at the Batie West Project in Burkina Faso, West Africa.
Corazon Mining Ltd
Aurelia Metals Ltd
Apollo Minerals Limited.
Ampella Mining Limited