On a busy week in the world of the small cap miners, Asiamet Resources (LON:ARS) caught the eye of investors as it followed up a significant resource upgrade with some highly encouraging drill results from a potential satellite deposit to its main copper target at Beruang Kanan in central Kalimantan, Indonesia.
The imaginatively named Beruang Kanan South, the area is around a kilometre from the Beruang Kanan Main (BKM) that contains and estimated 887mln pounds of copper.
In other copper news, Noricum Gold (LON:NMG) has found a new copper target at Kvemo Bolnisi, one of the explorer’s two deposits in the Republic of Georgia.
Greg Kuenzel, Noricum’s managing director, said while it was looking for gold primarily the discovery was a fantastic opportunity with potential to find a lot more copper on the prospect.
Away from copper, Mining junior Ferrex (LON:FRX) is to buy into a group of gold deposits in Australia to provide cash for its Togo manganese development.
In its first step in a new strategy away from iron ore, Ferrex is acquiring Aussie private company Chaffers Mining, which has an agreement to mine some of Norton subsidiary Paddington Goldfields’ deposits near Kalgoorlie.
Speaking of moving, Bezant Resources (LON:BZT) unveiled a move into Colombia with an option over 2,750 hectares of alluvial platinum and gold licences.
According to house broker Sanlam, the deal is game–changing and made the more significant by chairman Ed Nealon’s involvement. He founded Aquarius Platinum and Sylvania Resources.
Elsewhere, Eurasia Mining (LON:EUA) has signed a heads of terms agreement for a majority stake in a gold tailings project in Russia.
The deal gives Eurasia an exclusive right to up to a two-thirds interest in the Semenovsky tailings project in Bashkiria.
In the precious gem world, DiamondCorp (LON:DCP) said tunnelling into higher grade diamond-bearing kimberlite ore is progressing at originally planned rates following the installation of steel arches that provide a protective canopy.
From diamonds to coal, and Strategic Minerals (LON:SML) has started bulk sampling at the Tatu coal mine on New Zealand's North Island.
The location of the bulk sample is likely to be the access point for underground operations once the decision to proceed to commercial production is made, added the company.
In other news, Marble miner Fox Marble (LON:FOX) has opened a new quarry in Malesheva, Central Kosovo.
Fox has started digging at the site and has sent the first blocks of the milk-white Bianco Illirco marble for sampling.
Finally, Ariana Resources (LON:AAU) has received a mining permit for a potential satellite deposit close to Kiziltepe in Turkey, where it is building its first mine with partner Proccea.
Kerim Sener, Ariana’s managing director, said the permit will enable it to complete trial mining at Kizilcukur and asses if it is a potentially mineable satellite resource.