Herald discovers more zinc-lead reserves in N. Sumatra

Australian listed mineral explorer Herald Resources Limited said Monday that a new discovery in North Sumatra zinc-lead project might yield some of the highest zinc and lead assays yet obtained from the Project.

According to the company?s statement, exploration in the Pondok Gambir Sector which is located 4 kms of the project?s high grade Anjing Hitam zinc-lead deposit led to the discovery of two mineralized zones, Loren I & II and extensive gossan (oxidized sulphide mineralization) float within an area of strong anomalous zinc and lead values in soils.

Herald said exploration to date had traced the Loren zones for 200 meters along strike within a 400-meter long by 200-meter wide geochemical anomaly.

?The overall Pondok Gambir sector is 1,500 meters long, with intermittent significant soil geochemical anomalism, thereby suggesting further strike potential for mineralization,? said MP Wright, Herald?s executive director.

Wright said the samples taken from the two zones assayed between moree than 40 percent Pb and between 0.01 percent and 0.1 percent of Zn.

?The Loren's Find zone in the Pondok Gambir sector represents a significant discovery of substantial amounts of secondary lead and zinc minerals, and never before have such mutually exclusive metal values been obtained within the Dairi Property,? said Wright.

He said the newly discovered mineralization appeared to be stratigraphically controlled in several horizons and it was by no means certain that the primary form of mineralization shares a similar origin to the Anjing Hitam deposit.

Herald holds stake in the Zinc-Lead project through 72.63 percent ownership of its Canadian-listed subsidiary, International Annax Ventures Inc. which, in turn hold majority stake in PT. Dairi Prima Mineral, the project?s operator. (alex)