Resource round-up: Edenville, Condor Gold, African Eagle

3rd Jul 2012 09:58

Edenville Energy, the African coal exploration and development company, reported promising tests at its Namwele mine in Tanzania. The firm said initial drilling and sampling confirmed the presence of coal bearing strata extending out along strike from previous workings and occurring at depth. The firm said follow up drilling would produce a JORC-compliant estimate of resource tonnage.Shares in Condor Gold leapt after it announced "excellent" drilling results at its La India Project in Nicaragua. The firm said its tests provided "further evidence that La India and California veins coalesce not only at depth but at surface along a 600m strike length". This results bolster Condor's belief that the site has the potential to support open pit mining. The firm's shares rose 24% on the news.African Eagle Resources said it had appointed a new finance director. David Newbold joins the board with immediate effect and brings with him 35 years experience in the natural resources industry. The firm welcomed his "excellent track record in the development, financing, risk mitigation, governance and operation of natural resource businesses globally".Berkeley Mineral Resources, the Zambia-focused minerals company, said it had taken up a $500,000 option on a mining cluster containing the Luano and Mimbula stockpiles at the Rephidim mine site at Chingola. It is searching for 17.5m tonnes of tailings - the residue of mining activity which often become available for processing after a mine has closed. It did not update on a further two options it has available until 9 July.mm