Annax announces excellent preliminary results in N. Sumatra Zinc/Lead project
Wednesday, April 11 2001 - 04:00 AM WIB
International Annax Ventures Inc (Annax), a junior miner listed in Canadian Stock Exchange announced Tuesday its preliminary drilling results in Zinc/Lead project in North Sumatra.
According to the company's statement Diamond drill hole SOP46D, the first hole of the 2001 program at the Dairi Project's Anjing Hitam zinc-lead zone, had obtained a massive sulphide intersection over an interval of 15.31 meters.
The company said, based on comparison to massive sulphide intersections in 21 previously drilled holes within the Anjing Hitam zone, the grade of the hole SOP46D was visually estimated to be in the order of 20-25% combined zinc and lead.
Drill stem deviation, often experienced in deep drilling, has resulted in the intercept being made only about 30 metres NE of a massive sulphide intersection in hole SOP43D which assayed 13.2% zinc and 7.7% lead over an 8.8 metre interval.
The statement said drill hole SOP47D has commenced from the same site as hole SOP46D, and had been aligned to attempt to intersect the massive sulphide target zone at about 100 metres grid east.
The new regional autonomy system introduced into Indonesia as of 1 January 2001, appeared to be working well, with excellent support and co-operation being forthcoming from the Dairi Regent, said the company.
Annax holds 80 percent interest in the project while publicly listed state miner PT Aneka Tambang Tbk, holds the remaining interest.
Annax is 72 percent owned by Australian Listed mining company Herald resources.(*)