Herald upgrades Dairi zinc/lead project resource estimate

Australian mining firm Herald Resources Limited announced on Thursday a substantial increase in the resource estimate at its Lae Jehe deposit at the Dairi zinc/lead project in North Sumatra.

According to the company the new estimated Combined Resources at Lae Jehe are 7.6 million tonnes at 11.1% zinc, 6.1% lead and 5g/t silver.

The Lae Jehe prospect is located about 1.5km north of the main Anjing Hitam orebody and 800m north of the planned concentrator site and is the most advanced target to provide future mill feed beyond the initial 7 year mine life, which is currently based solely on the Anjing Hitam deposit.

A further 5 holes have intersected the deeper portions of the M2 horizon at Lae Jehe and have continued to confirm the continuity of this very important horizon. The Resources still remain open along strike in both directions and at depth beneath the lower bounding fault and there is thus very good potential for increasing the Lae Jehe Resources with the ongoing drill programme, the company said.

Indonesian firms Bumi Resources and State miner Aneka Tambang, which teams up with Chinese firm Shenzen Zhongjin Lingnan Nonfemet Co. Ltd are currently competing to acquire Herald. (alex)