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Southern Peru Copper to Start Drilling Canadian Shield's Cerro Cori Property

Canadian Shield Resources Inc. is pleased to announce that Southern Peru Copper Corporation, Sucursal del Peru ("Southern Peru") is mobilizing a diamond drill rig to the Cerro Cori Property located in Ayacucho, Peru. Southern Peru will begin a 9-hole, 2,500 metre drill program in the coming days. Canadian Shield and Southern Peru signed an earn-in agreement for Cerro Cori in May 2007. Cerro Cori, a high sulfidation epithermal gold prospect with copper gold porphyry potential, is held 100% by Gallant Minerals Peru ("Canadian Shield Subco"), a 90% subsidiary of Canadian Shield. Under terms of the earn-in agreement, Southern Peru is obligated to incur exploration expenditures of US$350,000 within the first year of the earn-in period. Southern Peru may earn a 65% interest in the property by spending a total of $3.5 million over the next 4.5 years and paying $1.5 million to Canadian Shield Subco over the next 24 months. Southern Peru also has the right to earn an additional 10% by completing a bankable feasibility study to acquire a total interest of 75%. (Marketwire - click here to read complete press release)


Copper Mineral Resources increase in Southern Peru by almost 400 million tonnes to a total of over 1.6 billion tonnes

Xstrata Copper announces a total Mineral Resource of over 1.6 billion tonnes of copper mineralisation in southern Peru, underpinning this region as an emerging major copper producing district for the Xstrata Group. This represents a 31% tonnage increase, the equivalent of 390 million tonnes, to previously announced resources for the region. The Ore Reserve and Mineral Resource Statement includes a substantial increase in Mineral Resources at Xstrata Copper’s Las Bambas and Antapaccay development projects, and the first Mineral Resource published for the Coroccohuayco project, all in southern Peru. Both Antapaccay and Coroccohuayco are located approximately 10 kilometres from Xstrata Copper's Tintaya mine. (edu BOURSE - click here to read complete press release)


Amera Resources Corporation: Additional High-Grade Copper Results on Mitu Project; Geophysics Program Begins to Refine Drill Targets

Amera Resources Corporation is pleased to report results from 15 new rock chip samples collected on its 100%-owned, 5,800 hectare Mitu Copper-Silver Project in Junin Department, Peru. Highlights include chip samples assaying 6.33% copper and 336 grams per tonne silver over 0.75m and 7.16% copper and 534 grams per tonne silver over 0.20m. Additionally, the Company is pleased to announce that an Induced Polarization (IP) and ground magnetic survey, conducted by VDG del Peru SAC (formerly, Val D'Or Geofisica), is currently underway on Mitu to refine drill targets. The geophysical survey program is expected to be completed within the next few weeks. A Phase I diamond drill program at the Mitu Copper-Silver Project will commence once the ongoing drill program is completed on the Company's Laguna Gold Project. (Marketwire - click here to read complete press release)


Zincore Increases Inferred Resources at Yanque by 55%

Zincore Metals Inc announces the results of an independent mineral resource estimate completed on the Yanque deposit, a near surface zinc oxide deposit at the south end of Zincore's 100%-owned Accha-Yanque belt in southern Peru. At a 4.5% combined (zinc plus lead) cut-off grade, inferred mineral resources total 10.3 million tonnes grading 5.3% zinc and 5.3% lead for 1.2 billion pounds of contained zinc and an additional 1.2 billion pounds of contained lead. This interim estimate was completed after drilling the first 21 holes or 2,560 metres of a planned 10,000-metre drill program. The new estimate represents a 55% increase in tonnes and an 88% increase in contained metal over the previous inferred mineral resource estimate. All of the resources are near surface and amenable to open pit mining. (Earth Times - click here to read complete press release)


Gold Hawk Resources Inc.: Production Update

Gold Hawk Resources Inc. is pleased to provide an initial overview of the Company's fourth quarter production at its Coricancha mine in Peru and an update on its activities relating to the ramp-up of production since the start of commercial production October 1, 2007. Significant progress was made in mine operations during the fourth quarter of 2007 and encouraging results have been achieved in the plant and in virtually all mill circuits subsequent to the end of the fourth quarter. In January 2008 metal recoveries and concentrate grades for lead and zinc exceeded expectations and lead, zinc and silver recoveries are now approaching design specifications while gold recovery is showing considerable improvement. (Marketwire - click here to read complete press release)


Peru Buenaventura miners at work after strike

Peruvian precious metals producer Buenaventura said on Monday work has resumed at four mines hit by a labor strike last week. Workers at its Uchucchacua, Orcopampa, Antapite and Caraveli mines struck for 72 hours over their share of profits from Buenaventura's latest results. The strike ended during the weekend. "Our operations are working in a normal manner," an executive at Buenaventura told Reuters on Monday. Last week, the company reported a 54 percent rise in fourth-quarter net profit compared with a year earlier, pushed by near-record high prices for silver and gold. Peruvian law requires mining companies to share 8 percent of their profits with workers. (Reuters - click here to read complete article)