Int’l Annax expands high-grade zone

Junior International Annax Ventures (IAX-V) has extended the southern boundary of the main zone of stratiform massive sulphide mineralization at the Dairi project in northwestern Sumatra, Indonesia.

A 100-metre stepout on the Anjing Hitam zone intersected 6.6 metres grading 15.6% zinc and 9.1% lead, plus 26.8 grams silver per tonne, starting at a down-hole depth of 369 metres in hole 41. Hole 42, drilled from the same section, was designed to test the horizon at about 80 metres updip of hole 41 but did not encounter any massive sulphide mineralization.

A third hole from section 9475N is targeting the zone about 100 metres downdip of hole 41.

Sectional drilling has demonstrated that the main zone extends more than 400 metres along strike and 200-400 metres downdip, and that it varies in thickness from 5 to 30 metres. The weighted average of these holes is 16% zinc and 9.7% lead.

A second, smaller rig is currently being used to test prospects along a favourable 3.5-km trend. Farther to the north, in the Basecamp area, hole 39 tested both the sedimentary-exhalative (sedex) style of mineralization and the underlying carbonate-hosted Mississippi Valley Type (MVT). Hole 39 intersected 3 metres of sedex mineralization grading 4.2% zinc, 2.8% lead and 7.2 grams silver at a down-hole depth of 41 metres. This was followed farther down-hole by a 19-metre zone of MVT grading 3.2% zinc, 0.2% lead and 15.6 grams silver (including 3 metres of 10.1% zinc, 1.1% lead and 56.9 grams silver) at a depth of 134 metres.

Hole 40 stepped back from hole 39 and hit 11.5 metres of sedex-style mineralization grading 2.5% zinc, 1.5% lead and 2.1 grams silver at a depth of 191.5 metres.

International Annax holds an 80% interest in the Dairi project, with the remainder held by Aneka Tambang, a government mining company. Australia-listed Herald Resources, which owns a 71% stake in Annax, is the operator.