Essential Assets for October 9, 2014

October 9, 2014 07:36 AM

Greka Drilling Limited, the largest independent and specialized unconventional oil and gas driller in China, is pleased to announce that the first well of the drilling campaign for Essar Oil Ltd., on the Raniganj East Block in West Bengal, has been spud. The well was spud by the GD75-17 rig, which is currently drilling at a depth of 435m. The drilling campaign on this USD 65m contract is expected to last approximately 12 months.

St George Mining Limited is pleased to announce that Phase 2 of the 2014 drilling program is underway at its 100% owned East Laverton Property. The Phase 2 drilling will test for massive nickel sulphides on the highly prospective Stella Range belt, where nickel sulphides have already been identified by drilling completed by both St George and BHP Billiton Nickel West. The presence of magmatic nickel sulphides along a significant strike extent of the Stella Range belt confirms the fertility of this belt that extends to over 60km, and supports the strong potential for it to host large scale nickel sulphide mineralisation.

The Directors of Jacka Resources Limited are pleased to announce that its wholly owned subsidiary (PR Oil & Gas Nigeria Limited), together with its Joint Venture partners, have taken a final investment decision to develop the Aje Cenomanian oil reservoir in the OML 113 licence (Jacka 5.0006% revenue interest), offshore Nigeria. The Aje Field Development Plan was submitted to the Nigerian Department of Petroleum Resources earlier this year and approval to develop Aje, as proposed in the Field Development Plan, was granted in March 2014.

Latin Resources Limited announces the first assay results from drilling at the Ilo Este copper porphyry project. Drill hole IE-JDD-001 was concluded at 746.2 m and assay results for the first 560 m of core have been received.

Rox Resources Limited is pleased to announce that Reverse Circulation (RC) and diamond (DD) drilling has recommenced at its Fisher East nickel sulphide project, 500km north of Kalgoorlie in Western Australia. The RC (29 holes for 5,500m) and diamond (12 holes for 5,000m) drilling programs are designed to follow-up previously drilled nickel sulphide mineralisation at Cannonball, and increase the known mineral resources at Musket and Camelwood. In addition, following the ground EM survey, drilling could be undertaken at the new Cutlass prospect.

Segue Resources Limited is pleased to announce the assay results from the recent 48 hole (2,162 metre) aircore drilling program completed over seven (7) targets at the Plumridge Nickel Project. The objective of the drilling was to collect geological and lithogeochemical data to provide an initial test of the target zones that had been identified in airborne magnetic and Ground Moving Loop EM (MLEM) data. Over 700 samples were sent to ALS Minerals in Perth for multi-element geochemical assaying.The assay results included a maximum assay of 3,130ppm nickel (0.31% Ni), with associated elevated chromium, in PAC006 within a broader intersection of 16 metres at 0.16% Ni from 20 metres (including 6 metres at 0.28% Ni from 22 metres). The lithogeochemistry in PAC006 is indicative of a mafic-ultramafic rock and demonstrates the success of the program in identifying the target mafic-ultramafic rocks that will now require follow up assessment.

Australian resources company, Cauldron Energy Limited is pleased to advise the Company is to begin a 10,000m drilling program at its wholly-owned Bennet Well uranium deposit in Western Australia. The A$1.5 million mud-rotary drill program has been cleared to proceed and is expected to start on October 14, 2014. This work will test the potential for uranium mineralisation and extension to the resource that may be minable by in-situ leach methods.

BC Iron Limited is pleased to provide an update in relation to its off-market takeover offer for Iron Ore Holdings Limited. As at 4:00pm (Australian Western Standard Time) on October 7, 2014, BC Iron held relevant interests in 90.37% of IOH shares, meaning BC Iron is now entitled to proceed with compulsory acquisition.

BC Iron Limited is pleased to advise that Mr. Brian O’Donnell has been appointed as a Non-Executive Director, and Mr Alwyn Vorster has been appointed as an Executive Director of BC Iron, effective October 7, 2014. This follows BC Iron declaring its off-market takeover offerfor Iron Ore Holdings Limited unconditional on October 3, 2014.

St George Mining Limited is pleased to announce that the Company’s drilling contractor, VM Drilling, has mobilised to site and Phase 2 of its 2014 drilling campaign will commence tomorrow at its 100% owned East Laverton Property. Phase 2 of the 2014 campaign will feature a RC (reverse circulation) drilling program with over 4,000m of drilling planned. The program is expected to be completed within 6 weeks.

Rox Resources Limited is pleased to announce that reverse circulation (RC) drilling has intersected visible massive copper sulphide mineralisation at the Bonya project located 350km east of Alice Springs in the Northern Territory.

Cardinal Resources Limited is pleased to announce further intersections of the third sub-parallel zone of gold mineralisation at the Namdini Mining Licence located within Cardinal’s promising Bolgatanga Project in Ghana.

Tungsten Mining NL is pleased to report that drilling continues to intersect significant high-grade tungsten mineralisation at the Kilba Project in the Gascoyne Region of Western Australia. During August and September 2014, the Company drilled 53 reverse circulation (RC) holes for 4,304 metres on the 100% owned and granted Mining Lease 08/314. To date TGN has drilled a total of 24 diamond holes and 95 RC holes for 11,190 metres at the Kilba Project.

Southern African gas explorer and developer Sunbird Energy Limited is pleased to announce the completion of the Stage 1, USD$5,000,000, Vandasia Transaction, previously announced on September 9, 2014. The USD$5,000,000 Stage 1 investment by the Pan-African investment company Vandasia Investments Limited for subscription of 20,367,127 fully paid shares equates to AUD$0.277 per share, which is a premium of 45.6% to the Company’s closing share price on September 8, prior to announcement of the Transaction.

Excelsior Gold Limited advises that results from reverse circulation (RC) drilling campaigns at the Parkerville, Botswana West and Pleasurebound prospects within the Kalgoorlie North Gold Project demonstrate further extensions to the gold mineralisation and support further drill testing of new exploration targets.

PLD Corporation Limited is pleased to advise that Beer and Co. Equity Research has prepared an initiation research report on the Company. Beer & Co rate PLD as a Speculative Buy due to its "large tenement area, large number of identified targets, significant potential value and an experienced Board to make it happen, combined with a low market capitlisation giving it significant leverage." The report found that the Company is highly leveraged to exploration success, and PLD Corporation has just begun  a 1,000m RC drilling and Deep EM Survey at its M20 nickel target, with results due in October.

Finnair is opening a new route to the Croatian city of Split, operated Tuesdays and Saturdays from 5 May to 3 October 2015. Scheduled service to the popular gateway to the Dalmatian coast will be flown with Airbus A320 aircraft and timed for optimal connections with Finnair’s domestic, Scandinavian and Asian destinations.

About the Author

Skylar Zhang is an undergraduate student at Northwestern University's Medill School of Journalism, focusing on magazine journalism. She is also majoring in economics. She is currently an intern for Futures magazine. In her free time, she enjoys writing, taking pictures, and beating her engineering friends at math.