ABN Newswire Australian Market Report of Dec 3, 2010

Winchester Resources Limited (ASX:WCR) has entered into an agreement to acquire 100% of the issued capital of Killara Resources Pty Ltd, a private Australian company focused on mineral exploration and development opportunities in Indonesia. The Belu Manganese Project is an early stage high grade manganese project, with initial rock chip results of up to 53.7% Mn. Killara has an 80% interest in the Project and has access to a pipeline of Indonesian project opportunities which will be available to Winchester on completion of the acquisition. Chesser Resources Limited (ASX:CHZ) has received further positive assay results from its Phase 3 drill program (10000 metre) at the Kestanelik Project in northwest Turkey. Diamond drill hole KED-22 intersected a 19 metre-wide zone of high grade gold mineralisation and reported results including 5.5 metres at 11.0 g/t gold, 2.8 metres at 13.4 g/t gold and 7.1 metres at 8.6 g/t gold. The scout drilling on some of our geophysical targets has also been very encouraging and the company is continuing to intersect significant widths of gold-bearing vein material. Terrain Minerals Limited (ASX:TMX) has signed a new agreement with New Global Mining Limited to sell the Coogee Gold Deposit for A.17m in cash and script. The Coogee Gold Deposit is located 20 km northeast of Kambalda, WA, and has a JORC compliant indicated and inferred resource totalling 277500 tonnes at 3.91 g/t gold for 34870 ounces. The proceeds of the sale will be used to test …
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