BAUXITE – Inverell resource increase

Australian Bauxite Limited has increased the inferred and indicated resources of its A-B bauxite deposit at Inverell in northern New South Wales by 64% to 36 million tonnes.
The resource update is based on 78 new holes drilled into the A-B deposit in May-June of 2010 and 118 holes drilled in 2009, for a total of 196 holes for 2748 metres drilled and sampled,.

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CHINA - Laopandao mineralization

Significant mineralization has been encountered in recent drilling at Silver Dragon Resources' Laopandao silver-tin-copper-lead polymetallic project in Inner Mongolia, northern China.
Since 2009 an advanced drilling program has been carried out at the main exploration target, Mineralization Zone III, on the southwest part of Laopandao. To date, 14 drill holes have been completed at this zone.

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CHINA - Third Mine for Element92

Element92 Resources Corp has executed a sales and purchase agreement to acquire a gold mine in Guangdong Province.

The US-based private company is acquiring the Guolanchong gold mine, a producing gold property with a mining licence for 0.8sqkm. It will be the company's third gold mine in China.

It has also applied for an exploration licence for a total of 18sqkm of favourable mineralization zones surrounding the existing mining licence area. The application is being processed by the related government authorities.

Element92's CEO Daniel Mckinney says, "Our chief geologist Daniel Huang returned from a visit to the mine and commented that this acquisition would almost double our current ore assets."

The area has gold mining history going back more than 100 years. The placer gold deposits in the downstream riverbeds are well developed, and placer gold mining is still active. A series of geological surveys and explorations have been conducted in the area since 1960.

Element92 is incorporated in the US state of Wyoming. It owns two gold mines in Shandong Province and holds options on 14 mineral claims in the Province of Quebec, Canada.

www.element92resources.info

CHINA – Debt Financing for Fuwan


Minco Silver Corporation has received conditional commitment of a project debt facility for RMB300 million (about US$44.17 million) for development of the Fuwan Silver Project.

The debt financing has been provided to Minco’s operating subsidiary Foshan Minco Fuwan Mining Co by the Guangdong Branch of the Industrial and Commercial Bank of China (ICBC).

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