Nevsun Generates $149.4m in Q1 2012; Production Forecast Raises by 25%

Tricky ore that led Nevsun to diminish golden expectations in upper oxides now lifts them back up

By Carrie White,

Vancouver-based Nevsun Resources (TSE:NSU)(AMEX:NSU) said Wednesday it posted strong first quarter results, and raised its gold production forecast for 2012 to 260,000 ounces.

Shares rose nearly five percent on the back of the news, trading at $3.39 early Wednesday morning.

The gold and base metal explorer/developer is currently focused on advancing its high grade gold, copper and zinc Bisha Project in Eritrea. Continue reading

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Eritrea’s Great Gold Potential – and Copper and Silver and Zinc!

The tale of Eritrea’s first major miner, Nevsun, which has had mixed fortunes this year and gold explorer, Andiamo Exploration, whose chairman has been a long time believer in the country’s mineral potential.

Eritrea’s substantial mineral deposits are largely unexplored

By  Lawrence Williams,

Two interesting presentations today at a Mining Journal Investor Seminar in London – one from an already operating, dividend-paying, miner in Eritrea with a remarkably good earnings profile and the other from a very early stage explorer looking for gold and VMS (Volcanic Massive Sulphide) copper-gold orebodies along the same trend.

The first of these will be obvious to anyone who follows activity in this remarkably prospective part of north-eastern Africa as it operates the only significant mine in the country Continue reading

New High Grade Potash Zone Discovered at Colluli

New High Grade Potash Zone Discovered at Colluli – The World’s First open pit Potash Mine 

South Boulder indicated that Colluli has now a 1.08 billion tonnes of 18% grade for 194 million tonnes of contained potash which is an 85 percent increase in reserves

By John Phillips,

South Boulder Mines (ASX: STB) continues to deliver a positive newsflow from the Colluli Potash Project in Eritrea, with the latest instalment a new high grade potash zone. This discovery comes just a week after the resource almost doubled to 1.08 billion tonnes at 18% KCl for 194 million tonnes of potash, and bodes well for future resource upgrades.

The combination of the shallow nature of this additional mineralisation, and the high-grade and strategic location, means it has strong potential to boost Collulis economics, particularly in the early phase of the project. Continue reading

Asmara contains 1.27 bln pounds of copper: Sunridge Gold Final Resource Estimate

It’s official now - Total contained metal at the Asmara project is: 1.27 billion pounds of copper, 2.6 billion pounds of zinc, 930,000 ounces of gold and 28.36 million ounces of silver

By Joyanta Acharjee,

Sunridge Gold Corp. today received the final resource estimate update for the Gupo gold deposit in Eritrea, the fourth deposit that forms the basis of the Asmara North prefeasibility study.

Total contained metal at the Asmara project, on a measured and indicated basis, now stands at 1.27 billion pounds of copper, 2.6 billion pounds of zinc, 930,000 ounces of gold and 28.36 million ounces of silver.

Total measured and indicated resources at Asmara amount to 76.09 million tonnes. Continue reading

South Boulder: Colluli Potash Deposit in Eritrea is worth USD 150 Billion Plus

South Boulder Confirms Colluli as the world’s shallowest Deposit

Proactivemines.com,

South Boulder Mines (ASX: STB) is maintaining momentum in building the Colluli Potash Project in Eritrea, where independent feasibility study activities continue to define a world class project.  South Boulder are currently targeting 1.5 billion tonnes of potash at 20% KCL, which has an in ground value of about USD $150 billion, dwarfing other basic project valuations of companies and commodities comparing market capitalisation to in ground value. Continue reading

South Boulder: Colluli Potash Deposit in Eritrea is worth USD 150 Billion Plus

South Boulder Confirms Colluli as the world’s shallowest Deposit

Proactivemines.com,

South Boulder Mines (ASX: STB) is maintaining momentum in building the Colluli Potash Project in Eritrea, where independent feasibility study activities continue to define a world class project.  South Boulder are currently targeting 1.5 billion tonnes of potash at 20% KCL, which has an in ground value of about USD $150 billion, dwarfing other basic project valuations of companies and commodities comparing market capitalisation to in ground value. Continue reading

South Boulder: Colluli Potash Deposit in Eritrea is worth USD 150 Billion Plus

South Boulder Confirms Colluli as the world’s shallowest Deposit

Proactivemines.com,

South Boulder Mines (ASX: STB) is maintaining momentum in building the Colluli Potash Project in Eritrea, where independent feasibility study activities continue to define a world class project.  South Boulder are currently targeting 1.5 billion tonnes of potash at 20% KCL, which has an in ground value of about USD $150 billion, dwarfing other basic project valuations of companies and commodities comparing market capitalisation to in ground value. Continue reading