Siburan Resources’ drilling activities at the Kirwan Hill tungsten and gold project in New Zealand is proceeding according to schedule as it enters a period of active exploration.

“Our investments over the last 2 years are now coming to fruition in the form of our drilling activities in New Zealand,” managing director Noel Ong said.

He added that in some parts, drilling conditions are better than expected.

“Weather conditions are currently favourable and we hopeful we will complete our goals this exploration season.”

The company is currently carrying out a 1,200 metre diamond drilling program at Kirwan Hill to confirm the grade and continuity of the tungsten mineralisation.

Most of this will be focused on the Kirwan Hill Prospect.

Drilling of the KHDD004 hole has been completed and the core logged and samples despatched to laboratories.

Assay results are expected within four to six weeks. Siburan is currently drilling hole KHDD005.

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Cadillac Ventures (CVE:CDC) has agreed to sell its New Alger property in Cadillac Township, Quebec to Renforth Resources in a cash and share deal.

Under the terms of the agreement, Cadillac will get $20,000 in cash and 2.0 million common shares of Renforth at the time of signing, as well as another $210,000 in cash by June 15 of this year, and $250,000 in cash by November 15, 2013.

Cadillac will also retain a 1% net smelter return royalty on the property. No other details on the transaction were provided in the statement on Tuesday.

The company has recently turned its focus to the former Burnt Hill tungsten mine in New Brunswick – a property on which the company expects to restart development for little cost.

Late in November, the Toronto-based company announced that it resumed exploration on the property, which covers more than 125 square kilometres and has NI 43-101 compliant tungsten, tin and molybdenum resources.

Historical work on the mine dates back to the early part of last century, but new showings have since been discovered, in particular for tin, which will be tested this year.

Cadillac’s CEO, Norman Brewster, has been himself involved with the mine since the 1970s, when he was hired as a consultant by then-owner – Canadian International Paper – to assess whether the mine could be put back into production economically.

After some ownership changes, Cadillac Ventures now holds a 51 per cent interest in the Burnt Hill project, with Noront Resources holding the remainder. Brewster did some twinning of historical holes on the property, as well as some other diamond drilling to pull together the latest NI 43-101 resource estimate from 2009.

The phase 1 ground exploration program at the property will target the Tin Hill, Burnt Hill Brook Area, the Burnt Hill Mine Area, and the 2 1/2 Mile Brook Area, with two prospecting crews currently in the field.

Cadillac has just raised $1.2 million under a recent financing to fund exploration, and plans to raise more funds this year.

Burnt Hill currently holds 461,000 tonnes of total NI 43-101 compliant underground and open pit resources in the indicated category, grading 0.489% tungsten and 0.01% tin. The inferred category holds a total of 590,000 tonnes, grading 0.535% tungsten and 0.013% tin.

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W Resources, the tungsten and gold exploration and development company, announces the latest update on drilling at its La Parrilla tungsten project, located in southwest Spain, in which it has an exclusive option to purchase a 100% interest.

Drilling of the extension of the La Parrilla ore body is now complete, drill re sults are being progressively received and W expects to complete the compilation of a new JORC compliant resource estimate in the second quarter of 2013.

Assay results have been confirmed for core Holes 7, 8 and 9 of the extended La Parrilla drilling programme. Key highlights include 8 metres at 0.29% Tungsten Trioxide (WO3) in hole 9, three times the average grade of the current La Parrilla resource in hole 9. Holes 7, 8 and 9 were drilled to final depths of

200.0m, 200.0m and 250.50m and are located 640m, 470m and 200m, respectively, to the northwest of the main ore body and continue the series of strong results from the extension drilling programme.

Chairman of W, Michael Masterman, commented: "The Board continues to be encouraged by the results on the extension drilling programme, with the process of further delineating a more significant increase in both the grade and tonnage of the resource at La Parrilla nearing completion. Drilling has been completed on budget and on schedule and we expect positive results from the re-estimation of the resources incorporating these results.

With the final approval for the La Parrilla tailings project granted by the Mining Department of the regional authority of the Junta de Extremadura, (announced 22 January) the Company is making good progress towards first production in H2 2013.

W has completed 11 holes on its drilling programme with assays received on holes 1-9.

The weighted average grades have been calculated for intersections through mineralised envelopes defined by quartz veining an d no cut off grade has been used.

About La Parrilla

The La Parrilla project site is situated in the Extremadura region of southwest Spain, in the Provinces of Caceres- Badajoz, approximately 310 km southwest of Madrid. The site is accessed directly from the highway along a 3km asphalt road and is serviced by electricity and water. The project comprises a tungsten mine and a tungsten tailings project. The historic mine resource estimated by SRK in 2008 is 36.0m tonnes at 0.09% WO3, making it one of the largest tungsten deposits in the western world.

The technical design of the La Parrilla tailings project has now been finalised and the final approval has been granted by the Mining Department of the regional authority of the Junta de Extremadura. Annual plant feed will be 330,000 tonnes and annual production is anticipated to be 28,000 MTU Tungsten (W) and 26 tonnes Tin (Sn), which will deliver over €7million per annum in revenue at current tungsten and tin prices. The tailings project is expected to be in production in H2 2013.

The price of tungsten has increased rapidly over the last 3 years by more than double. The La Parrilla tailings deposit and tungsten mine development offer a low cost, high margin resource development opportunity for W Resources.

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North American Tungsten‘s stock had its “speculative buy” rating restated by equities researchers at Jennings Capital in a report issued on Tuesday. They currently have a $0.30 target price on the stock.

Separately, analysts at Paradigm Capital cut their price target on shares of North American Tungsten from $0.50 to $0.40 in a research note to investors on Tuesday.

North American Tungsten Corporation Ltd (NATC) is engaged in tungsten mining and related activities, which includes the acquisition, exploration, development and processing of ores and concentrates.

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