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Strategic Minerals
Magnetite focused iron ore company Strategic Minerals has struck a commercial contract with a subsidiary of Glencore International for the sale of 800,000 wet metric tonnes of iron ore concentrate from its Cobre project in New Mexico in the United States.
Initial deliveries of up to 60,000WMTs under the contract are scheduled to start from April.
The start date coincides with the expected completion of the Cobre rail-spur upgrade this month which will allow the contracted magnetite to be transported by train to the Port of Guaymas in Mexico where it will be unloaded for shipping.
Bayfield Ventures
Bayfield Ventures has reported additional assays from the eastern portion of its Burns Block gold-silver project, which is located in the Rainy River district of north-western Ontario, Canada.
Assays received from ongoing drilling as part of the company鈥檚 current program on the Burns property outlined gold mineralisation over an expanding area, both down-dip and along strike to the east.
In total, 10 holes have been collared in this eastern high-grade zone and Bayfield plans on drilling at least a further 10,000m in this area.
Within the east-central section of the property, multi-gram gold and silver intercepts were also intercepted in first pass drilling.
Hits included 19.5m at 3.46 grams per tonne gold and 8.93gpt silver including 3m of 13.94gpt gold and 16.7gpt silver from the eastern discovery zone.
Pacific Wildcat Resources
Pacific Wildcat Resources reports progress with the reverse circulation resource drill program currently underway at the Mrima Hill niobium and rare earth project in Kenya.
The company has a conditional purchase agreement to acquire an indirect 70% interest in Cortec Mining Kenya, owner of the Mrima Hill project.
Originally planned for 5,000m, the RC program has now been doubled to 10,000m.
Recent total rare earth oxides diamond drilling results, together with previous TREO results, have upgraded the initial exploration target by 10 million tonnes to 40Mt at grades ranging from 4% to 5% TREO.
Siburan Resources
Tungsten explorer Siburan Resources has been granted an exploration and prospecting permit for its wholly owned Kirwans tungsten project from the Ministry of Economic Development of New Zealand.
The project area is located 12km east of the township of Reefton, on the west coast of the South Island.
