PRESS RELEASE: Herald excels with stunning high-grade Dairi resource
Tuesday, January 23 2001 - 07:00 AM WIB
Herald Resources Ltd which is listed in Australian Stock Exchange has exceeded expectations with the initial resource estimates for its Dairi, North Sumatra zinc-lead deposit today (Tuesday) announcing high-grade Indicated Resources of 7.5 million tonnes grading 27% combined zinc-lead and additional Inferred Resources of 3.1 millions tonnes, with significant potential for future growth.
The resource figures, for the Sopokomil Prospect at Dairi, follow an outstanding run of exploration success for the Herald group at the North Sumatran project which have confirmed its status as a world-class prospect.
At the Anjing Hitam zone, Herald announced an Indicated Resource of 7.5 million tonnes grading 16.7% zinc, 10.3% lead (combined 27% zinc-lead) and 14 g/t silver, plus an additional Inferred Resource of 2.5 million tonnes grading 11.3% zinc, 6.8% lead (combined 18.1% zinc-lead) and 13 g/t silver.
In addition, an Inferred Resource of 0.6 million tonnes grading 6.3% zinc, 3.7% lead (10% combined zinc-lead) and 4 g/t silver has been estimated for the Base Camp Zone, located several hundred metres north of Anjing Hitam.
The Anjing Hitam resources were defined by 24 diamond drill holes along an 800 metre length of the zone, which is located in the southern portion of the 3.5 kilometre long Sopokomil sedex zinc-lead prospect.
Herald Executive Director, Mr Michael Wright, said the resource announcement represented an outstanding result for the Company, with the potential for significant additions to the resource inventory through ongoing exploration.
"The Anjing Hitam zone remains open in several directions, particularly along strike to the south, with further drilling warranted to fully define its ultimate potential," Mr Wright said. "Already, we have demonstrated several billion dollars of in-ground metal at today's prices".
"In addition, recent drilling has intersected significant sedex-style mineralisation over a 3 kilometre strike length north of the Anjing Hitam zone, including the final (and northernmost) hole in our 2000 drilling program, which intersected 5.5 metres at 14.6% zinc and 8.5% lead," he added.
"We expect drilling to resume next month, with future programs testing the extent of the Anjing Hitam zone itself and to follow up exciting results along the Sopokomil horizon," Mr Wright said.
Dairi is the Herald group's flagship project and is held through its Canadian-listed subsidiary, International Annax Ventures (IAX), which holds an 80% interest in the project. The remaining 20 percent is held by Indonesian publicly listed mining company PT Aneka Tambang Tbk.
Contact: Mr Michael Wright, Executive Director, Herald Resources Ltd., Telephone: (08) 9322-2788 (*)