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The two prospects, dubbed Loren 1 and 2, are 4 km northwest of the advanced Anjing Hitam zinc-lead zone in the Pondok Gambir portion of the property.
Annax discovered Pondok Gambir earlier this year while investigating a strong soil geochemistry anomaly measuring 1,500 metres long and overlying carbonaceous shales. Follow-up investigations over a 400-by-200-metre section of this anomaly yielded zones of massive cerrussite (lead carbonate) gossan, as well as the secondary zinc minerals hemimorphite and smithsonite.
The Loren 1 prospect consists of 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, whereas the second (which has yet to be fully exposed and tested) yielded only anomalous values.
Moving 150 metres along strike, the Loren 2 prospect is stratigraphically separated from the first zone by about 100 metres. A couple of 2-metre channel samples separated by a 3-metre gap assayed up to 40.8% zinc, 0.01% lead and 4 grams silver, and 41.7% zinc, 0.03% lead and 3 grams silver. A third, 5-metre channel sample returned 37.9% zinc, 0.08% lead and 24 grams silver.
The newly discovered zones have more quartz than does the Anjing Hitam mineralization and are associated with a magnetic geophysical anomaly. The company plans to kick off an extensive electromagnetic geophysical survey over the Pondok Gambir prospect once it completes a down-hole electromagnetic survey on the southern part of the property.
For the past year, International Annax has been focused on advancing the Anjing Hitam zone. Having drilled 57 new holes, the junior is moving forward with an updated resource estimate and a preliminary mine design. The drilling outlined an indicated resource of 7.5 million tonnes grading 16.7% zinc, 10.3% lead and 14 grams silver per tonne. 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 downdip to the east.
Mineralization is hosted in a 30-to-140 metre-thick sequence of carbonaceous shales and siltstones that strike northwest and dip 35-60 to the 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. The property is 120 km south of the town of Medan.
International Annax holds an 80% interest in the project, with the remainder held by PT Aneka Tambang, Indonesia’s state-owned mining company.
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