Resources round-up: Oregon Gold, African Copper, Sovereign Mining

Oregon Gold, an exploration company focused on gold exploration and development in Eastern Europe, has reported 'solid progress' at the Deli Jovan gold project in Eastern Serbia, where a 7,500 metres diamond drilling programme began in May. So far 15 holes have been drilled at the Gindusa mine target, totalling 3,800 metres. The deepest hole drilled to date has confirmed that the shear-zone continues beyond 250 metres vertical depth - Gindusa was mined historically to just 80 metres depth.

By MoneyWeek

published 8 August 2012

in Features

African Copper has reported an increase in processed ore to 89,727m tonnes in June from 77,625m the month before. The copper grade increased from 1.77% to 1.91% the previous month, while the recovery rate rose from 46.2% to 55.7%. The produced concentrate leapt from 2,735m tonnes to 4,319m tonnes, while copper produced in concentrate increased month on month from 635m tonnes to a record 955m tonnes on the back of good plant availability and utilisation. The firm said the improvements in production were achieved as higher recovery sulphide ore from the Thakadu mine was processed.

Sovereign Mining has completed the second phase of drilling, consisting of 35 reverse circulation holes totalling 4,590 metres, which confirms and extends gold mineralisation discovered by the company last year at the Mandiana-Magana gold project in The Republic of Guinea. One hole intersected six metres averaging 10.66 grams per tonne (g/t) gold from 50 metres depth, within a broader 30 metre interval, averaging 3.25g/t gold from 39 metres depth. A second hole intercepted a 76 metre interval averaging 2.62g/t gold.