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Closely-linked mining companies Tribune Resources and Rand Mining will empty their cash reserves to pay out inaugural dividends to their shareholders, with their shared managing director alone to reap $3.12 million.
Highlight assays from the program include: - 13 metres at 4.87g/t gold from 7 metres; - 13 metres @ 1.97g/t gold from 93 metres; and - 15 metres @ 2.18g/t gold from 36 metres. The Japa concession lies within the eastern portion of the Kumasi Basin of the Proterozoic Birimian Supergroup of West Africa. There are no lithological controls on gold mineralization at the Adiembra prospect. Gold is found within all rocks.
Mining contractor Barminco has won a $275 million contract to provide its services to the Northern Star Resources-majority owned Kundana gold mines in the Goldfields.
Torian Resources Ltd (ASX:TNR) is continuing a 4 phase drilling program at its Zuleika JV Project in the Goldfields region of Western Australia which has found high grade gold. The results from targets 4 to 9 of phase 1 rotary air blast drilling have now been received. Drilling at target 5 located a saprock gold target containing 4 metres at 11.28 g/t gold. Field inspection of this hole showed mineralisation in a quartz veined sheared felsic volcanics.