Proactiveinvestors Australia

YTC Resources has once again extended the mineralised zones at Nymagee North with new drilling intersecting strong copper-gold / lead-zinc-silver zones - which has the potential to once again be extended as the mineral system remains open to the north.

YTC Resources has intersected extremely high grades of lead and zinc sulphides, of up to 10.9% lead and 22.2% zinc, from drilling into the new sulphide lens at Hera. Drilling continues to extend both the Hera and the Nymagee deposits, suggesting strong potential for the delineation of further economic mineralisation with ongoing exploration.

The Hera North discovery continues to rapidly evolve, with the first two holes delivering economic grades of mineralisation - including high grade silver. New holes have intersected further massive sulphides. Hera North is just 200 metres from the existing Hera Resource.

With two new mines expected by 2015 - YTC Resources has received a buy recommendation and a $0.42 price target from Bell Potter - with the target 50% higher than the last traded price of $0.28.

The intersection of strong copper bearing sulphides in the first hole following the restart of drilling has opened up Nymagee North, which has the potential to evolve into a second copper deposit in the Nymagee mineral system.

Peak Resources is on track to become the next major rare earth supplier from the Ngualla project in Tanzania. The company has produced two refined rare earth products at ANSTO Minerals - which importantly are in saleable form and available for evaluation by target customers.

The completed Scoping Study for the Mansa manganese project has demonstrated positive project economics as the project moves closer to production in a matter of weeks. Budgeted costs of delivering a CIF product are between $190 and $210 per tonne, in line with its expectations.

The start of the second phase drilling at Mt Forrest iron project puts Mindax on the path to potentially expand both the iron base as well as life of the mine. Importantly, it also has promise for the proposed partnership with Hong Kong-based Perpetual Mining, that could see the company invest $52 million.

The $5.1 million received is part of a planned $10 million investment by Owen Hegarty's EMR Capital in Highfield Resources to develop its advanced potash projects in Spain.

Having made inroads to access the eastern area of the high grade silver Bonanza Zone at the New Departure project in Montana, Black Mountain is on the cusp of first cash generative silver production.