Olympus targets high-grade core

Vancouver — The latest drill results from the Bai Go portion of the Phuoc Son gold property in Vietnam have propelled partners Olympus Pacific Mineral (OYM-V), Ivanhoe Mines (IVN-T) and Zedex Limited to re-focus on the central, higher-grade core of the zone.

Stepout drilling failed to return bonanza gold grades from the high-grade shoot cut during last year’s 6,818-metre drill program. The most recent highlights include:

• Hole 68 — 1.7 metres grading 4.53 grams gold and 0.59 gram silver per tonne;
• Hole 69 — 1.45 metres grading 2.63 grams gold;
• Hole 70 — 10.85 metres grading 5.42 grams gold, 8.41 grams silver and 0.8% lead;
• Hole 74 — 2.1 metres grading 4.93 gram gold, 1.85 gram silver and 0.11% lead; and
• Hole 75 — 2.7 metres grading 3.17 gram gold and 1.1 grams silver.

Based on the results, Olympus plans to move the rig back to the central zone, where hole 45 returned 10 metres grading 10.65 grams gold, 12.57 grams silver, 0.9% lead and 0.11% zinc.

Mineralization at the prospect is associated with multiple quartz veins measuring up to 32 metres in true thickness within the Dak Sa shear zone. To date, about 22 holes have tested the Bai Go and nearby Bai Chuoi prospects.

The results are also in from one hole drilled into the Bio Gio portion of the property. Hole 73 returned 5.52 grams gold and 4 grams silver over a narrow 10 cm.

Moving 3 km north, a series of holes are being planned for the Bo sector, where a shear zone has been identified over an area measuring 600 metres by 25 metres.

Olympus began exploring the property in October 1998. The company has a 57.2% interest. Ivanhoe holds a 32.8% stake and New Zealand-based Zedex has 10%.