Asian Activities Report for September 20, 2011: Naracoota Resources (ASX:NRR) Report High Grade Gold Results at the Horseshoe Range project

Sydney, Sep 20, 2011 AEST (ABN Newswire) - Naracoota Resources Limited (ASX:NRR) reported exciting high grade gold results from the Horseshoe Range project in Western Australia. 13 rock chip samples recorded gold values of over 1g/t Au, including a 33 g/t Au sample and a 13.93 g/t Au sample. A follow-up survey work is currently underway to provide substantial new drill targets for the first phase deep RC drill program to commence in October.

Phillips River Mining NL (ASX:PRH) has signed a lead/zinc concentrate off-take agreement for the Phillips River Project located in Western Australia, and will now focus on securing off-take agreements for the high value copper/gold concentrate. The Project is targeting development in 2012 and production in 2013. It is expected to generate about A$1 billion in revenue through gold and copper concentrate sales including the sale of lead/zinc concentrate.

Alligator Energy Limited (ASX:AGE) announced further progress at the Tin Camp Creek drilling program. Results have been received from a further two holes drilled at the Caramal Prospect and six drill holes in the South Horn Prospect, including 20m at 2027ppm U3O8 and 4m at 1061ppm U3O8. Further drilling is underway and additional drill rigs have been engaged to accelerate drilling during September and October.

Sheffield Resources Limited (ASX:SFX) today announced results from a 30 hole drilling program at its McCalls heavy mineral sand exploration project in Western Australia. Mineralisation is open to north and south and at depth to over 90 metres, and drilling results have confirmed massive scale of the McCalls deposit. The Company will commence resource estimation work in Q4 2011.

GVK Power and Infrastructure Limited (BOM:532708) has received board approval to participate as an investor for the acquisition of a 7.9-billion-tonne JORC compliant coal resource and infrastructure development project in Queensland. The Company has also received board approval to acquire 79% shareholding in Alpha Coal project and Alpha West Coal Project in Queensland, with a combined JORC resources of 3.6 billion tonnes, and 100% shareholding in Kevin's Corner Coal Project with 4.3 billion tonne JORC resources.

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