Resource Wrap: 26 March 2010 – CDU, ILU, MZI, DRM
March 26, 2010
Cudeco Limited (CDU) said that first pass shallow RC drilling at its Wilgar Prospect, located in the Rocklands Copper Project in Central Queensland, had shown ‘exceptional results’ from high grade rare elements and molybdenum. The company said Wilgar has long been flagged as holding potential importance, due to high grade near-surface gold assay results. Meanwhile, the area immediately surrounding Wilgar has become the subject of renewed interest and detailed geological investigation.
Iluka Resources Limited (ILU) has appointed former managing director of Alcoa of Australia Limited Wayne Osborn and founder of International Ferro Metals Limited Stephen Turner as non-executive directors. The company said Mr Osborn is a non-executive director of Leighton Holdings Limited and Wesfarmers Limited, and chairman of Thiess Pty Limited, while Mr Turner was the CEO of International Ferro Metals from 2002 to 2009 and continues as a non-executive director of that company.
Matilda Zircon Limited (MZI) said indications are that Chinese demand for Zircon is robust with increasing signs of supply tightness in the market and it also appears that many Chinese firms are running close to capacity. The company said major producers have signalled price increases with indications that a price increase of between US$20 and US$50 per tonne of zircon could occur in April with a further price increase in the third quarter. Matilda said it is moving towards commencing zircon production at the Tiwi Islands project in the Northern Territory during 2010.
Doray Minerals Limited (DRM) said it has reached agreement with Hayjae Enterprise Pty Ltd to purchase 100% of Hayjae’s Webbs Patch project in the Murchison Region of Western Australia. The company said it would issue Hayjae 500,000 Doray shares and make a payment of $100,000. Doray said the project comprises a number of granted exploration and prospecting licences and one exploration licence application covering approximately 22 kilometres squared. The company said Webbs Patch contains a 6,600oz gold JORC-compliant resource, which is open at depth and along strike. Doray said the project also contains a number of advanced exploration targets including a coherent 550 metre long zone of gold mineralisation in historic drill holes sub-parallel to the Tuckabianna trend with encouraging intersections.
Iluka Resources Limited (ILU) has appointed former managing director of Alcoa of Australia Limited Wayne Osborn and founder of International Ferro Metals Limited Stephen Turner as non-executive directors. The company said Mr Osborn is a non-executive director of Leighton Holdings Limited and Wesfarmers Limited, and chairman of Thiess Pty Limited, while Mr Turner was the CEO of International Ferro Metals from 2002 to 2009 and continues as a non-executive director of that company.
Matilda Zircon Limited (MZI) said indications are that Chinese demand for Zircon is robust with increasing signs of supply tightness in the market and it also appears that many Chinese firms are running close to capacity. The company said major producers have signalled price increases with indications that a price increase of between US$20 and US$50 per tonne of zircon could occur in April with a further price increase in the third quarter. Matilda said it is moving towards commencing zircon production at the Tiwi Islands project in the Northern Territory during 2010.
Doray Minerals Limited (DRM) said it has reached agreement with Hayjae Enterprise Pty Ltd to purchase 100% of Hayjae’s Webbs Patch project in the Murchison Region of Western Australia. The company said it would issue Hayjae 500,000 Doray shares and make a payment of $100,000. Doray said the project comprises a number of granted exploration and prospecting licences and one exploration licence application covering approximately 22 kilometres squared. The company said Webbs Patch contains a 6,600oz gold JORC-compliant resource, which is open at depth and along strike. Doray said the project also contains a number of advanced exploration targets including a coherent 550 metre long zone of gold mineralisation in historic drill holes sub-parallel to the Tuckabianna trend with encouraging intersections.
Leave a Reply