Proactive investorsLogo Proactive Investors UK Website

Search field
Get Adobe Flash Player Download
Flash
Player ►

And
Enable
Javascript

Additional information
Additional Information
Market: ASX
Sector: Gold Mining
Epic: ASX: MGK
News: Latest news
Web Site: Mil Resources
Other Articles: 08-07-200916-06-200910-06-2009

RSS - Subscribe to the News Today on Proactive UK ▼

Saturday March 13, 08:47Premium risk at Prudential

Insurance giant Prudential has stolen the headlines this week, after their decision to buy AIA, the Asian life business of US insurer AIG, has attracted a mixed response from shareholders.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive NA ▼

Friday March 12, 07:58Lithium and rare earths markets poised for growth

Right now, the world relies almost completely on China for its rare-earth supply. The Chinese have made it clear that they want to keep more supply for themselves as they try to be the world leader in green technology

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive CN ▼

Friday March 12, 07:51White Energy enters coal deal with China Guodian Group

White Energy Company (ASX: WEC; OTCQX: WECFY) has inked a non-binding heads of agreement with state owned Guodian Inner Mongolian Energy Sources Co Limited to develop a coal upgrading [...]

FULL ARTICLE ►
Mil Resources

Mil Resources

MIL is a resources investment and development company with a number of activities:

  • 25% interest (and earning up to 90%) of the Amazon Bay ironsands project in Papua New Guinea;
  • global exclusive license to the MIL-Dow electrolytic magnesium process technology;
  • 100% ownership of magnesite resources near Leigh Creek, South Australia.
Tuesday, June 16, 2009

MIL Resources has high vanadium assay results at Amazon Bay, PNG

company news image

Investors cheered the share price resurgence of MIL Resources (ASX: MGK) as the stock climbed 45% on news of vanadium sample assays from Amazon Bay Amazon Bay ironsands project in Papua New Guinea. MIL has a 25% and can earn up to a 90% interest in the project.

Assays from the recent ironsand sampling program at Amazon Bay have returned encouraging values up to 1.02% V205, 50.7% Fe and 20% Ti02. The grade of vanadium compares favourably with other vanadium deposits such as Aurox Resources (ASX: AXO) with V205 grade of 1.0% at Balla Balla, TNG (ASX: TNG) with V205 grade of 1.2% at Mt Peake, NT and Reed Resources (ASX: RDR) with V205 grade of 0.8% at Barrambie, WA.

The vanadium results put a new focus on Amazon Bay given the demand for vanadium where its dominant end use is in steelmaking as an alloying element with iron, steel and titanium.

Over 200 testpit and auger samples were collected from the Barracouta and Threadfin ironsands prospects which occur as significant magnetic anomalies within the Amazon Bay ironsands system. This system spans over 200km of coastal plain. At Barracouta 37 sampes were collected from surface to a maximum depth of 6 metres and at Threadfin 171 samples were collected from surface to a maximum depth of 10 metres.

Next steps: MIL intends to conduct further metallurgical testwork to determine the optimal process route for the treatment of the Amazon Bay vanadium rich titanomagnetite whilst advancing discussions with potential end users.

MIL Resources has high hopes for the Amazon Bay, PNG Project with a major ironsands exploration target of 3 – 4 billion tonnes of magnetite ironsands based on previous exploration and an airborne magnetic survey flown by MIL in 2008.

AddThis Feed Button
Register here to be notified of Proactiveinvestors One2One Forums.

Other Mil Resources news

More news ►

Investors interested in Mil Resources recently viewed


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.