Endurance Gold Corporation (EDG - TSX.V, "Endurance") is pleased to announce that further compilation of historic data on the Bandito REE-Ni Project has resulted in the identification of new targets and expanded the size of the altered rare earth enriched nepheline syenite and altered host rock to approximately nine square kilometers in size. Within this large alteration system, eleven target areas have been defined that have potential for significant enrichment in rare earth minerals.

As it tunes its rigs to near surface oxides Argentex Mining (TSX-V: ATX) continues to churn out strong silver and gold mineralized intercepts at its Pinguino property in Santa Cruz province, Argentina. Of 16 drillholes Argentex recently reported the best of the lot hit 62 metres @ 88.8 g/t silver and 0.94 g/t gold, which included as much as 6 metres at 675.5 g/t silver and 5.99 g/t gold.

Eyeing potential for high-grade gold tonnage, Canada's Southern Arc reports on another swelling gold-silver mineralized vein in Indonesia. A zinger of a drilling result - wide with high-grade gold mineralization - propped up Southern Arc Minerals' theory that the Pelangan target on its West Lombok property in Indonesia may hold other bonanza-grade ore shoots.

Chief operating officer of Alacer Gold Corporation Louw Smith told the Resources and Energy Symposium in the Australian mining city of Broken Hill that there were growth developments at both the company's operations in Western Australia and in Turkey.

With stronger balance sheets, improved credit availability and stabilizing metal prices, PwC Tuesday forecast the recovery in global metals M&A is expected to continue for the balance of this year. Iron ore targets were the primary driver of global metals M&A activity during the first quarter of 2011, contributing almost 40% of the deals worth a total of $5.1 billion, a significant increase over full-year 2010 when iron ore represented only 20% of total deals.

The executive chairman of private company Direct Nickel Julian Malnic told the Resources & Energy Symposium in Broken Hill in New South Wales that the company was currently moving to raise $A15 million ($US14.7 M) to utilise an ASX-listed shell company for listing.

Iron ore prices on the Chinese spot market were largely unchanged on Tuesday, with traders still unwilling to risk making purchases as they try to determine underlying demand in the coming months. Indian ore with 63.5/63 percent iron content was being offered at $182-185 including freight, according to the Umetal consultancy, unchanged since last Friday, but there were few takers.

Gold rose in response to the degrading Eurozone crisis. In the euro gold again touched new highs at €1,080.41. In the dollar it rose to $1,519 ahead of London's opening, in Asia. The dollar stands at $1.4065 early in London. At the London Fix this morning, gold was set at $1,520.75 and in the euro at €1,078.85, up from yesterday and approaching €1,100. The dollar gold price, because of the dollar's performance is still well below peak prices.

China's Baoshan Iron & Steel Co Ltd expects to receive regulatory approval for its coastal Zhanjiang project this year, Chairman He Wenbo said on Tuesday, despite government resolve to extend a fight against overcapacity. "We will try to obtain approval this year, and are starting to build a raw materials dock," He, also president of parent Baosteel Group, told reporters on the sidelines of a company event.

The Middle Eastern market, which has seen sustained interest in large denomination bullion bars from high-net-worth individuals, has a new ally. Heavy buying from expatriates from the Asian subcontinent, notably India, has spurred sales of the precious metal.

Canadian gold miner Kirkland Lake Gold Inc said its quarterly gold production rose 56 percent. Quarterly gold production rose to 23,466 ounces, from 14,995 ounces, a year earlier. The Ontario-based company said it produced a record 10,175 ounces of gold for the month of April. Image by Kirkland Lake Gold

Indian controlled and London listed diversified miner, Vedanta is reported to be poised to float off Konkola Copper Mines, its major Zambian copper producer for around US$7.3bn. Vedanta bought an initial 51% stake in Konkola Copper Mines in 2004 for a paltry US$261m, and subsequently increased its holding to the current 79.4% with the Zambian Government holding the balance, so an IPO valuing the company at over $7bn represents a huge gain for the multinational, founded and controlled by Indian entrepreneur Anil Agarwal.