Vancouver — International Annax Ventures (IAX-V) has discovered a deep conductor on the Lae Jehe zone that is superior than that of the nearby sedex style lead-zinc Anjing Hitam deposit, situated in Northern Sumatra, Indonesia.
A down-hole electromagnetic geophysical program that was completed in December on a number of holes along the 3.5 km-long Sopokomil trend has outlined four additional zones. The most significant result was found 1.5 km north of the Anjing Hitam deposit at the Lae Jehe zone. The conductor is located off-hole and below the sulphide intercepts in hole SOP-52D (1.3 metres grading 12.9% zinc and 8.9% lead) and hole SOP-54D (3.0 metres grading 5.5% zinc and 3.3% lead).
At the Dang Takkas zone, located 600 metres southwest of the Anjing Hitam deposit, a southwest dipping conductor has been outlined. The near surface portion was intersected in hole SOP-20D which cut only anomalous zinc and lead within carbonaceous shales and siltstone. The conductor appears to dip beneath drill hole SOP 37D.
Follow-up mapping and soil sampling at the Pondok Gambir zone, situated 4.5 km northwest of Anjing Hitam has confirmed the presence of the sedex shale horizon. This horizon hosts high-grade oxide zinc and lead mineralization that was previously reported in the Loren prospects. Grid soil sampling has defined three sub-parallel zinc-lead soil anomalies that measure 450 metres long by 10-to-30 metres wide. Geochemical values are in excess of 2,000 ppm zinc and 5,000 ppm lead. These are coincident with exposed mineralization that grades up to 37.9% zinc, 0.08% lead and 24 grams silver per tonne over 5.0 metres.
Sampling at the Sinar Pagi prospect situated in the northwest portion of the Dairi property yielded assays of 36.4% lead and 1,130 grams silver as well as 23.5% lead and 270 grams silver
The Dairi project is situated 120 km south of the town of Medan and comprises a seventh-generation contract of work covering 220 sq. km and a Kuasa Pertambanggan (land permit) of 136 sq. km. For the past year, Annax has been advancing the Anjing Hitam zone. The last round of 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 down dip 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.
Annax holds an 80% interest in the project, with the remainder held by PT Aneka Tambang, Indonesia’s state-owned mining company. Recently the company inked a deal with its controlling shareholder, Australian-based Herald Resources, to become Herald’s wholly-owned subsidiary. According to the deal, Herald will acquire all the issued and outstanding common shares of Annax in return for Herald shares. Each Annax share will be exchanged for one Herald share. International Annax is currently working on obtaining shareholder and regulatory approval for the business combination.
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