Australian Market Report of September 15, 2010: Modena Resources Limited Identifies Second Production Target

15.09.2010 | 5:30 Uhr | ABN Newswire

Sydney, Australia (ABN Newswire) - A second production target for immediate development has been identified by Modena Resources Limited (ASX: MDA) in its Dunn Peach 7 wellbore. Modena's technical team is continuing to research a number of existing wellbores including the Dunn Peach 7, which were originally designed to test the Marg Tex series of sands on its Padre Island project. The Dunn Peach 7 was drilled and completed in August 2008. The well has produced a total of 2.0 BCF from three previous Marg Tex intervals at rates in excess of 4,000 million cubic feet per day (mcfd).

Blaze International Limited (ASX: BLZ) has expanded its strategic footprint around BHP Billiton's (ASX: BHP) (NYSE: BBL) (PINK: BHPBF) giant Yeelirrie Uranium Deposit. Blaze has applied for four additional Exploration Licences covering over 780 square kilometres on the northwest side of BHP's Yeelirrie uranium deposit. These applications further consolidate Blaze's strategic tenement holding in its Yeelirrie Valley Uranium Project, surrounding BHP Billiton on all sides. Blaze now holds 7 granted Exploration Licences and 4 pending Exploration Licences totalling 1,600 square kilometres.

Pike River Coal Limited (NZE: PRC) (PINK: PKRRF) has announced the appointment of Peter Whittall as Chief Executive Officer of the company, effective 2 October 2010. Mr Whittall has held the position of General Manager-Mines since he joined Pike River at the company's Greymouth mine site in 2005. During that time he has been responsible for on-site construction, mine development, recruitment of the new operations workforce and has been closely involved with the company's recent capital raisings.

Vital Metals Limited (ASX: VML) has identified new gold targets at its Doulnia Gold Project, through a high resolution aeromagnetic survey. In August, Vital Metals engaged Fugro Airborne Services to interpret the recently completed high resolution aeromagnetic and radiometric survey of its Doulnia gold project in Burkina Faso, West Africa. Fugro's interpretation provided a detailed summary for the project, several new highly prospective target areas for drill testing in November and an increase in the belief of the gold potential in the Doulnia project area.


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