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Argex Mining (CVE:RGX)(OTCBB:ARGEF) late Tuesday gave a corporate update and financial highlights.

The company has recently transitioned from a mining exploration company to a near-term producer of titanium dioxide, iron and vanadium pentoxide from assets in Quebec.

Late last year the company acquired a 50.1 percent stake in Canadian Titanium Ltd., a private company which owns the process and underlying patents for the recovery and production of titanium dioxide from titanium-bearing ore.

At its plant in Mississauga, Ontario, the company said that the scale-up is progressing extremely well. The production has now
reached 3 kg/day of high-purity titanium dioxide from 0.3 kg/day, 1,000-percent scale-up to date.

The increase in production is attributable principally to ongoing refinements in the treatment and purification process that will ultimately find their way into a full-scale industrial production facility.

The expanded pilot plant is expected to produce at least 10kg/day of high purity titanium dioxide by mid-June.

"We have experienced delays in the delivery of certain pieces of equipment for the larger-scale pilot plant, which has not prevented us from scaling-up ten-fold," Argex's chief operating officer and VP of technology Enrico di Cesare said.

"We are anxious to receive the last items to complete the promised 3,000 percent increase."

In terms of finances, Argex said its 2011 working capital was up just over three-fold at $5.36 million and as at December 31, it had cash and short-term investments of $4.1 million, up from $2.2 million at the end of 2010.

In addition, for the year ended December 31, 2011, Argex converted 27,233,001 warrants, broker warrants and options to common shares. This resulted in cash to the corporation of $10,381,397.

"Our financial position has improved dramatically," Argex's chief financial officer Mark Billings said.

"The corporation's working capital and cash position have increased substantially while our shareholdings on a fully-diluted basis have remained the same."

Indeed, management at the company has been snapping up shares, with president and CEO Roy Bonnell acquiring 30,000 shares during May, and director Mazen Haddad pickingh up 200,000 shares in the last two months.

"Argex continues its inevitable march towards production assisted by the addition of credible partners, board members and management," Argex's president and CEO Roy Bonnell said.

"Our focus continues to be on adding value by reducing the risk associated with the project in the most effective and non-dilutive way possible for our shareholders."

Over the past year, the company announced new key board members as well as acquiring additional claims at its Lac Brûlé property.

Channel Resources (CVE:CHU) reported Wednesday additional drill results from its 15,000 metre core definition program on its Mankarga 5 gold deposit, part of the Tanlouka project in Burkina Faso, West Africa.

The results from the program, which was completed in February, continue to enhance the potential of the deposit, the company said.

Results from 10 holes reported Wednesday are from infill holes along nominal 100 metre spaced lines, which targeted extensions of previously encountered mineralized structures.

Highlighted results include holes Tan11-DD47 and Tan11-DD40, Channel said.

Hole DD47 intersected two principal structures including 55 metres of 2.05 grams per tonne (g/t) gold from surface (#1 Zone) and a second structure starting at 86.5 metres down-hole for 48 metres at 1.09 g/t gold (#2 Zone).

Meanwhile, hole DD40, drilled 350 metres along strike to the southwest on section 000, intersected the #1 Zone at around 120 metres below surface with 1.46 g/t gold over a width of 45 metres.

The company said other drill holes reported today have widths and grades largely in line with its expectations for these parts of the deposit.

The Mankarga 5 core-drilling program totalled more than 15,400 metres in 71 holes.

Assay results have now been reported for 13,779 metres of core, or 89 percent of the total program, from 61 holes.

The company said a protracted delay in receiving final results from labs in Ouagadougou has delayed the finalization of Tanlouka's maiden resource estimate - but results from the last 10 holes are expected to be available soon, it added.

The drilling program has so far delineated a mineralized zone that is over two kilometres long and up to 300 metres wide on the northeast-trending Mankarga 5 structure.

The main goals of the program were to provide a geological and structural context for the deposit, to further expand the zone, and to support the deposit's maiden resource estimate.

The Mankarga 5 deposit remains open along strike and to-depth, with mineralization found to a maximum vertical depth of around 260 metres in the current program.

Detailed results from the ten holes reported today can be viewed on a drill hole location map on the company's website at http://www.channelresources.ca/i/pdf/CHUmap052312.pdf.

Last month, Channel reported that it would shortly start a 2,000 metre core-drilling program focused on the Mankarga 1 target area at its Tanlouka gold project.

The company said that in 2010, reverse circulation drilling on the Mankarga 1 target resulted in some of the highest grade intersections reported thus far at Tanlouka, including 12 metres grading 21.25 g/t gold in Tan10-RC12, and 38 metres of 3.09 g/t gold in Tan10-RC10.

The mineral explorer also said at the end of April that it has earned its 100 percent stake in the Fox Creek mineral brine project, in Alberta.

Channel's earn-in to own the property was 10-months ahead of schedule, thanks to a recent amendment made to its original agreement signed on February 24, 2009.

Channel also has a 90 percent stake in the Tanlouka Gold project in Burkina Faso.

Selwyn Resources (CVE:SWN) said Wednesday that it received last week approval for the expansion of its ScoZinc mine in Nova Scotia.

On May 18, the Nova Scotia Department of Environment issued an amended industrial approval, allowing the company to expand its existing mine to include the Southwest Expansion of the previously mined Main Pit.

"We are very pleased the Nova Scotia government has approved the Southwest Expansion at the ScoZinc Mine," said president Stephen Rea.

"With this approval in hand, Selwyn can continue its efforts for financing the restart of operations at ScoZinc."

The ScoZinc mine is a past producing zinc-lead mine in Nova Scotia, which the company acquired for $10 million. The mine has a measured and indicated resource of 2.8 million tonnes grading 4.2 percent zinc and 1.9 percent lead.

As it has now received the amended approval, Selwyn can access the balance of the $10 million debt facility established with Waterton Global Value, L.P., in April.

The proceeds will be used for general corporate purposes, including restart activities at the ScoZinc mine.

Selwyn primarily focuses on the exploration and development of its properties that make up the Selwyn project in the Yukon, which hosts large tonnages of zinc-lead mineralization.

The known deposits at the Selwyn project have the potential for large scale production, and to provide a "secure supply of zinc and lead to meet the future needs of the zinc and lead markets in Asia," the company said.

The acquisition of ScoZinc, once restarted, was meant to help provide cash flow to aid in the advancement of the Yukon project.

The company recently announced an updated mineral resource estimate for its XY West deposit at the Yukon project, highlighting the expansion of its inferred category resources to 12.75 million tonnes grading 4.42% zinc and 1.40% lead.

Selwyn noted that the XY West deposit is a key component due to its close proximity to the adjacent XY Central deposit, which has an inferred mineral resource of 44.11 million tonnes grading 4.10% zinc and 1.29% lead.

The updated 12.75 million tonne inferred estimate for XY West used a base case 2.0% zinc cut-off grade, and includes 3.27 million tonnes of higher grade zinc-lead mineralization grading 7.71% zinc and 2.23% lead at a 5% zinc cut-off grade.

The company said the global mineral inventory in the inferred category increased 4.4% as a result, corresponding to an increase of 0.94 billion pounds of zinc and 0.24 billion pounds of lead at a 2% cut-off grade.

Since acquiring the Selwyn project in 2005, the company said it has made nine major deposit discoveries that are potentially amenable to open pit and/or underground mining methods, all of which remain open for expansion.

Zinc-lead sulphide mineralization has now been defined over 37.5 kilometres of strike length with the drilling results from the 2005 through 2012 drilling campaigns, said the company.

The total indicated mineral resources at the Selwyn project are 180.69 million tonnes grading 5.25% zinc and 1.83% lead for a metal content of 20.91 billion pounds of zinc and 7.30 billion pounds of lead.

The inferred mineral resources have increased to 226.88 million tonnes grading 4.44% zinc and 1.37% lead for a metal content of 22.23 billion pounds of zinc and 6.84 billion pounds of lead.

The work program at the Yukon project is being undertaken by Selwyn Chihong Mining Ltd., the joint venture company equally owned by Selwyn and Chihong Canada Mining Ltd.

Shares were trading at 12 cents Wednesday morning.