Mining News
Alexander Nubia International (BUY, C$0.35) (AAN TSX, C$ 0.075, ? 0.0%) announced results from an initial diamond drilling program at its Hamama Property, located 35 kilometres from its Abu Marawat Property. Eleven drill holes were completed for a total of 1,185 metres. Best results include 16 m at 4.71% Zn, 0.22% Cu, 0.81 g/t Au, 16.2 g/t Ag, 14.1 m at 6.51% Zn, 0.20 % Cu, 0.81 g/t Au, and 42.5g/t Ag, and 50 m at 0.69% Zn, 0.05% Cu, 0.01 g/t Au, and 1.5 g/t Ag.
Botswana Diamonds (LON:BOD) plc (BOD LN, 4.5p, ? 2.7%) announced that it has conditionally raised GBP1.51 million through a placing and direct subscriptions with the Company of 37,750,000 new ordinary shares of GBP0.01 each at a price of 4 pence per share. The Fundraising price represents a discount of 11% to the closing price of 4.5 pence on 16 February 2012. The majority of the net proceeds of the Fundraising will be deployed on the Company's exploration projects in Botswana, Cameroon and Zimbabwe.
KEFI Minerals (LON:KEFI) (UNDER REVIEW) (KEFI LN, 3.05p, ? 9.6%) announced that is has conditionally raised GBP1,850,000 by way of a placing of 61,666,667 ordinary shares at a price of 3p per ordinary share.
Minera IRL (LON:MIRL) Limited (BUY, 137p) (MIRL LN, 71.0p, ? 0.0%) announced that it has commenced the exploration drive at the Ollachea Gold Project in Peru. Excavation of the 1.2km exploration drive has commenced following the establishment of access to the portal site. The tunnel will enable underground exploration of the eastern strike extent and the down-dip extension of the Ollachea mineralization, as well as provide access to the Minapampa orebody. The company also announced results from recent in-fill resource drilling of the Minapampa mineralized horizons with best results of 20 m at 10.2 g/t gold and 31 m at 5.58 g/t gold. An upgraded resource estimate will be completed during Q212 as part of the feasibility study.
Solomon Gold (LON:SOLG) Plc (SOLG LN, 11.0p, ? 8.6%) provided an update on the acquisition of Honiara Holdings Pty Ltd for a consideration of A$50,000. Honiara Holdings holds three Prospecting Licences and one Reconnaissance Licence in the Solomon Islands, covering a total area of 389 square kilometres. Early…
