Annax uncovers high grades at Dairi

Vancouver – Detailed mapping and test pitting by International Annax Ventures (IAX-V) has uncovered two new massive sulphide prospects on the Dairi zinc-lead-silver property in Indonesia.

Lying 4 km northwest of the advanced Anjing Hitam zinc-lead zone, the discovery was found by follow-up investigatyions on a 400- by 200-metre geochemical anomaly in the Pondok Gambir sector of the property.

The first zone, dubbed Loren 1, comprises two mineralized horizons separated by 10 metres of barren rock. The first returned 47.5% lead, 0.1% zinc and 11 grams silver per tonne over 3 metres, while the second yielded only anomalous values.

Moving 150 metres along strike, a second area of mineralization has been identified. Known as Loren 2, this horizon is stratigraphically separated from the first zone by about 100 metres. Limited channel samples returned up to 37.9% zinc, 0.08% lead and 24 grams silver over 5 metres.

The newly discovered zones have more quartz than the Anjing Hitam mineralization and are associated with a magnetic geophysical anomaly.

International Annax has been focused over the past year on advancing the Anjing Hitam zone. With 57 new drill holes into the project, the junior is moving forward with an updated resource estimate, a preliminary mine design, as well as possible infrastructure requirements needed for production.

Last year’s drill program outlined an indicated resource of 7.5 million tonnes grading 16.7% zinc, 10.3% lead and 14 grams silver per tonne for the Anjing Hitam zone.

The initial resource figures are based on 24 drill holes covering an 800-metre strike length. The inferred resource is 2.5 million tonnes grading 11.3% zinc, 6.8% lead and 13 grams silver, and the zone remains open along strike and down-dip to the east.

Mineralization is hosted in a 30- to 140-metre-thick sequence of carbonaceous shales and siltstones that strikes northwest and dips 35-60 northeast. The mineralized beds appear to flatten out at depth.

The Dairi project comprises a seventh-generation contract of work covering 220 sq. km and a Kuasa Pertambanggan (land permit) of 136 sq. km.

International Annax holds an 80% interest in the project, with the remainder held by Aneka Tambang, the large state-owned Indonesian mining company.