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African Barrick Gold, Botswana Diamonds, Bushveld Minerals, Chelyabinsk Zinc Plant, ECR Minerals news briefs

Contributed by Fox-Davies Capital

African Barrick Gold plc announced that following the unanimous approval by Aviva shareholders on 11 September 2012, the Kenyan Competition Commission has now formally approved the acquisition by ABG of Aviva Mining (Kenya) Ltd ("AMKL") from Aviva Corporation. All conditions have now been satisfied and the transaction will now be finalised. On completion of the acquisition of AMKL, African Barrick plan to continue systematic exploration programmes throughout the licence areas testing for new gold targets and we are targeting advancing one or more projects to resource category level during 2013. These exploration programmes will consist of mapping, soil and rock chip sampling campaigns, auger and aircore drilling, and reverse circulation and core drilling. The current core drilling programme is testing high priority regional targets in order to gain a better understanding of the geology and key controls on the gold mineralisation encountered at each prospect and to allow ranking of targets for future programmes.

Botswana Diamonds PLC announced an update on licence PL170/2012 in the Orapa area of Botswana lying 30kms to the east of the Letlhakane diamond mine. The licence, issued in May 2012, covers 249 sq kms and is 100 per cent owned by Botswana Diamonds. The mineral chemistry data from soil samples collected on the licence has been compiled together with an earlier review of aeromagnetic data. The data shows areas with concentrations of diamond indicator minerals, namely garnets, ilmenites with a few spinels and chromites. The garnets fall mainly within the G9 group with minor G10 garnets. These results are very encouraging and helped in the identification of five areas for follow-up ground geophysics. A geophysics team is currently conducting detailed ground magnetic and gravity surveys on four areas in the west of the licence and one area in the east for the purposes of identifying drilling targets. Results from this work are expected within six weeks, after which a percussion drilling programme will commence.

Bushveld Minerals has released an update on progress in its metallurgical testwork from the Massive Magnetite Ore at its Bushveld Iron Ore Project. The results cover both extraction/ concentration tests (Initial Davis Tube and Coarse grind DMS tests) and Pyro Metallurgical Tests on both fine and coarse materials. For the Fine fractions preliminary Davis Tube Test metallurgical testwork undertaken shows 79% - 84% recovery for Fe2O3, V2O5 and TiO2, and a magnetic separator concentrate grade in excess of 78% Fe2O3, 19% TiO2 and 0.36% V2O5. For the coarse (-12mm and -6mm) fractions, the Preliminary Dense Medium Separation tests shows 73% - 80% recovery for Fe2O3, V2O5and TiO2, and a concentrate grade in excess of 70% Fe2O3, 18.5% TiO2 and 0.32% V2O5. These are encouraging results as the coarse fraction results suggest that only a minimal amount of milling is required to obtain good recoveries for Fe2O3, TiO2 and V2O5 reducing both the water and energy requirements as well as making shipping easier.

Chelyabinsk Zinc Plant has released its 3Q'12 production results. The Company produced 121,335 tonnes of saleable SHG zinc and zinc based alloys slightly below the 121,895 tonnes produced over the same period last year. Of this 66% was supplied to the domestic market. CZP's affiliated Company, Nova Zinc LLC, operator of Akzhal zinc and lead ore mine in Kazakhstan, produced 25,075 tonnes of zinc in zinc concentrate, 4.4% less than last year (26,222 tonnes). Lead in lead concentrate production decreased by 24.3% to 2,931 tonnes (vs. 3,872 tonnes in 2011). CZP's subsidiary, The Brock Metal Company Limited (the leading UK supplier of zinc die-casting alloys) sold 19,883 tonnes of zinc alloys in first 9 months of 2012, slightly above the 19,769 tonnes produced in the same period last year.

ECR Minerals PLC announced an update on its activities and strategy. The planned programme of geochemical sampling within historical underground workings at ECR's El Abra gold prospect, part of the Company's Sierra de las Minas gold project area in La Rioja Province, Argentina, has been completed and the Company expects to be in a position to announce assay results from the programme before the end of October 2012.  In August 2012 the Company advised that its representatives in La Rioja Province had been approached by a South American group interested in holding preliminary joint venture discussions with regard to Sierra de las Minas. These discussions have not progressed beyond the initial stage but the Company remains open to joint venture approaches.

Following the appointment of three new directors in May 2012, ECR has pursued a revised strategy with the following key elements. Realising value from investments, including ECR's position in THEMAC Resources Group Ltd ("THEMAC"), as far as it is possible to do so on attractive terms.  Continuing exploration within the Sierra de las Minas gold project area, in line with a policy of focusing on mineral projects over which the Company can exercise direct control.

Reducing the complexity of ECR's operations by disposing of non-core interests such as the Company's stake in ACS Asia, a manufacturing business located in Thailand. Work towards this objective is on-going.

This strategy is being implemented as quickly as possible in an uncertain global economic environment, and further updates will be provided as and when developments of sufficient magnitude occur. ECR is evaluating options to achieve the sale of all or a substantial part of the Company's interest in THEMAC Resources Group Ltd (TSX-V: MAC). Such a transaction is a high priority for ECR on the basis of the significant benefits that increased financial strength could be expected to bring the Company and its shareholders.