Drilling in N. Sumatra Zinc/Lead project results in additional mineralization

Canadian listed mining company International Annax Ventures, which is a 70 percent subsidiary of Australian listed Herald Resources reported Thursday that the current exploration drilling program at the Dairi Zinc/Lead project in North Sumatra was continuing to outline additional zinc-lead mineralization.

According to the company, drilling is focusing in the Lae Jehe and Bongkaras zones located approximately 1.2 and 2.2 kilometres north along the Sopokomil Trend from the Company's 10 million tonne high grade Anjing Hitam zinc-lead deposit.

The company said sufficient drilling at the Anjing Hitam deposit had now been completed to allow initiation of a preliminary feasibility study.

Meanwhile, the company said drilling in holes SOP 49 and 52 had been completed, with SOP 54 in progress. SOP 49 intersected several base metal sulphide horizons, interbedded with shale at the expected depth and also intersected a deeper broad zone of multiple-banded, coarser grained, mineralisation.

Individual high-grade bands range up to 0.41m at 24.5 percent Zn, 12.9 percent Pb & 80 g/t Ag. Hole SOP 52, collared 150 meters east of hole 49 and 75 meters back of hole 17 intersected two mineralized horizons approximately, 200 meters down dip from the two zones intersected in hole 17 that assayed 6.04 percent Zn and 4.41 percent Pb over 9.0 meters in the upper horizon and 7.50 percent Zn and 0.50 percent Pb over 10 meters in the lower horizon. Assays for hole 52 are expected shortly.

In Bongkaras Zone located 2.2 kilometres northwest of the Anjing Hitam deposit was initially drill tested late in the year 2000 with holes 45 and 44 that intersected sedex zinc-lead mineralization with previously reported intervals of 5.5 meters grading 14.6 percent Zn and 8.5 percent Pb and 8.1 metres assaying 6.0 percent Zn and 2.9 percent Pb, respectively.

Drill holes 50 and 51 were collared on section 12,100 N and tested the mineralized zone approximately 150 meters down dip. Three mineralized zones were intersected in both holes with the deeper hole (51) having the thicker and higher grade sulphides. Deeper drilling is warranted.

International Annax holds 80 percent stake in PT Dairi Prima Mineral which runs the project, while state mining company PT Aneka Tambang Tbk, holds the balance. (alex)