Int’l Annax expands Dairi

Australian-listed Herald Resources, the 71%-owner of International Annax Ventures (IAX-V), continues to expand the high-grade Anjing Hitam zinc-lead deposit at the Dairi project in northern Sumatra, Indonesia.

The third hole on Anjing Hitam’s southern boundary intercepted 8.8 metres grading 13.2% zinc and 7.7% lead. Hole 43 was intended to intercept the main zone at 100 metres downdip from previously reported hole 41 (6.6 metres grading 15.6% zinc and 9.1% lead), but the hole deviated such that it was only 40 metres to the east.

To date, 21 holes have tested a 600-metre section of the shale-hosted stratiform massive sulphide deposit. Drilling indicates that the Main zone has a downdip extension of 250 metres and varies from 3 to 30 metres in thickness. The deposit remains open for expansion. A resource estimate is expected sometime this month. Metallurgical tests have also begun.

An exploratory hole in the Bongkaras sector, some 2.5 km north of the Anjing Hitam deposit, intersected a 5.5-metre interval of sedex-style mineralization grading 14.6% zinc and 8.5% lead at a downhole depth of 99 metres. Previous geophysical work had outlined a coinciding electromagnetic anomaly downdip of hole 45.

International Annax holds an 80% interest in the Dairi project, with the remainder held by Aneka Tambang, a government-owned company. Aneka can elect to increase its interest to 30% within 30 days of the completion of a prefeasibility study by paying 15% of total costs incurred to that date.