Financial Wire

Emerald Resources Progresses Western Australia, Cambodia Projects Over March Quarter

-- Emerald Resources (ASX:EMR) said it intersected gold mineralization at its Dingo Range Gold Project in Western Australia, as well as at its Memot Gold Project, Okvau Gold Mine, and exploration tenure in Cambodia during the quarter ended March 31, according to a Tuesday Australian bourse filing.

The results were up to 45 meters at 4.1 grams per tonne gold from 619 meters at the Dingo Range Gold Project, including 18.5 meters at 5.2 grams per tonne gold from 641 meters.

The company said that exploration since the January mineral resource estimate has targeted both open pit extensions and underground potential at the Dingo Range Gold Project.

Drilling results from the Memot Gold Project were up to 2 meters at 50.3 grams per tonne gold from 40 meters and 14 meters at 3.4 grams per tonne gold from one meter, the filing added.

Intersections from the Okvau Gold Mine were of up to 3 meters at 59 grams per tonne gold from 347 meters and 22 meters at 1.9 grams per tonne gold from 448 meters.

Related Articles

Asia

Market Chatter: Japan to Back Biofuel Pilot in Mozambique, Ghana with 4 Billion Yen Funding

Japan's Ministry of Economy, Trade and Industry will provide 4 billion yen or $25.2 million in subsidies to support a large-scale marine biofuel pilot initiative in Mozambique and Ghana, according to a Nikkei report on Tuesday.The funding is aimed at covering startup costs until the project becomes profitable, with the dual objective of diversifying energy sources while aiding the environment and local farmers, the publication said.The initiative, led by Tokyo-based Nippon Biofuel, will cultivate jatropha. This hardy plant grows in poor soil and produces oil-rich seeds without straining food supplies, unlike corn or other biofuel crops, the news daily said.Fuel production facilities will be built in both countries, where local workers will be employed to handle all stages from cultivation to manufacturing, the report said.The resulting biofuel is expected to power domestic Japanese cargo vessels, Africa-bound freight ships, and commercial boats based in Singapore, offering a solution to multiple challenges, it added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$^N225
Asia

Peel Mining Secures New South Wales Exploration License; Shares Up 7%

Peel Mining (ASX:PEX) secured exploration license EL9887, covering the newly identified Thunderstruck prospect in New South Wales, according to a Tuesday filing with the Australian bourse.The prospect was identified during a review of open-file geological data within the Cobar Basin, the filing said.The company is now aiming to fast-track drilling to test the target, subject to regulatory approval, per the filing.Shares rose 7% in morning trade on Tuesday.

$ASX:PEX
Asia

Invictus Energy Secures Binding Commitments for AU$10 Million Placement; Shares Down 18%

Invictus Energy (ASX:IVZ) said it has secured binding commitments for a AU$10 million placement of about 166.7 million shares at an issue price of AU$0.06 each, according to a Tuesday filing with the Australian bourse.Settlement of the placement is expected on April 28, and the company plans to use the proceeds to finance further works at its 80%-owned Cabora Bassa oil and gas exploration project in northern Zimbabwe, per the filing.Shares of Invictus Energy were down 18% in recent Tuesday trade.

$ASX:IVZ