Listed Company

ORO:

Yucai group is now holding 28.13% of Oroya Mining’s total shares. As the largest shareholder, Yucai has two seats on the board. Ping ZHAO, the chairman of Yucai group, is now acting as CEO of Oroya, and participates in the company’s daily operation and projects.

Oroya Mining is targeting a rapid transition from explorer to miner with its quality suite of copper, gold and nickel projects in Victoria, NSW and Western Australia. This involves the development of a professional corporate team, headed by geologist and former chairman of miner Terramin Australia Ltd, Dr Kevin Moriarty.

Projects:

Oroya's Orbost copper project in the Eastern Lachlan Fold Belt of Victoria has become its primary focus following a major electromagnetic survey which defined large anomalies that correlate with porphyry copper mineralisation intersected in drill holes. These advanced targets have the potential for hundreds of millions of tonnes of copper mineralisation similar to Cadia further north in the Belt.

In Western Australia, Oroya has had encouraging results on its Roe Hills nickel project, 85km east of the Kambalda nickel mining centre and 50km from the Nova discovery. The Company is building strategic partnerships that ensure it can achieve its objectives.

http://www.oroya.com.au

 

KSN:

YUCAI GROUP is the largest shareholder of Kingston Resource as currently holding 20.4% of the total share. The CFO of Yucai group, Yafeng CAI, is acting as a non- executive director of the board and playing an important role in the decision making procedures.Kingston Resources Limited is a public company listed on the Australian Stock Exchange (ASX:KSN), with its head operations in Australia.The Company has acquired 100% of Fleurieu Mines NL, which owns a portfolio of highly prospective gold and copper projects in the Gawler Craton of South Australia. This exciting region hosts a number of major mines, and deposits, including the famous Olympic Dam mine, Prominent Hill mine, the Carapateena deposit and also a number of identified exploration targets.

Projects:

Cultana Joint Venture (25% Kingston)

The Company’s subsidiary entity, U Energy, holds a 25% interest in the Cultana Joint Venture with joint venture partner Strategic Energy Resources.  The project area encompasses the Cultana Inlier and is 321 square kilometres in size.

Gravity surveys of the Cultana Inlier, being a body of older rocks uplifted to the surface, show an extensive alteration system covering 100 square kilometres. That system is associated with a granite intrusion of the same age and setting as that seen at the Olympic Dam deposit. The fact that historic copper mining has taken place near the gravity anomalies enhances the prospectively of the Cultana Inlier.

Alteration similar to that seen at the Prominent Hill and Olympic Dam deposits is also seen in the surface rocks of the Cultana Inlier.  High resolution gravity data from a Falcon® airborne gravity gradiometer survey conducted over Cultana in 2004 detected the presence of several high density bodies around the Cultana granites.  Inversion modelling suggests that the cores of these bodies may consist of high density material typical of the IOCG style deposits found to date along the eastern margin of the Gawler Craton, notably at Olympic Dam, Prominent Hill and Carrapateena.  It is expected that discrete anomalies may indicate breccia pipes. See, for example at the anomaly at target C01 (see Figure 4), where the association of copper mining and a pipe-like anomaly is very encouraging.  Further, target C05 is associated with stronger anomalies and a potentially larger system 

 

Myall Creek Joint Venture (50% Kingston)

The Company’s subsidiary, U Energy, holds a 50% interest in the Myall Creek Project in joint venture with Strategic Energy Resources.  
The Independent Geologist’s Report indicates the probability that the Myall Creek Project area is underlain by basement lithologies with same alteration and mineralising systems as that seen at both Olympic Dam and Moonta-Wallaroo.  He considers that the occurrence of significant areas of haematite-rich alteration associated with Hiltaba Suite granites just outside the eastern and western tenement boundaries encourages exploration for Olympic Dam-style mineralisation at Myall Creek.

However, previous exploration has focused on the younger, Tapley Hill Formation where more than 110 drill holes have delineated low-grade copper mineralisation over a 3 kilometre wide area extending for 15 kilometres from the Pandurra Copper Mine.  A higher grade, central zone of about 3 square kilometres has drill intersections with average grades of copper in the range 0.5% up to a maximum of 2.2%.  The Honeymoon Dam prospect in this zone has been selected by the Myall Creek Joint Venture parties for drilling aimed at defining a maiden copper resource.

The priority, after close of the Public Offer will be to drill three reverse circulation (RC) holes to test the copper-lead-zinc mineralisation at Honeymoon Dam.  The Company is also considering an infill drilling program to define resources within the 15 kilometre trend.

http://www.nuworldsolutions.com.au/

 

 

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