Bre-X encouraged by drill results

Exploration of three projects in Indonesia is yielding encouraging results for Bre-X Minerals (ASE).

At the Busang prospect in East Kalimantan (on the island of Borneo), two holes drilled into the Southeast zone returned highly anomalous gold mineralization. Hole 1 contained several sections grading greater than 1 gram gold per tonne. The best section in this hole was a 6-metre interval which yielded 4.5 grams.

A 3,500-metre drill program, designed to outline reserves, is also under way on the Central zone.

On the Taware property in North Sulawesi (on the island of Celebes), a 3,000-metre drill program is evaluating three areas. Previous work outlined a copper-gold porphyry system.

In the Taware Valley zone, five holes will test a 400-by-200-metre area which contains values of up to 1 gram gold and 0.5% copper. A further two holes will be drilled into the Kelapa zone to test a metasomatic mineralized zone. In addition, three holes will be drilled to test a porphyry system known as the Kupa.

The company also reports that a soil survey has been completed on a portion of the Sable project in Sumatra. This property covers an epithermal gold system containing quartz veins and stockworks within a broad alteration zone which has been traced over 7.5 km.