Annax evaluates Dairi data

Vancouver — With 57 drill holes complete and the Anjing Hitam zone at the feasibility stage, International Annax Ventures (IAX-V) has suspended drilling activities on the Dairi zinc-lead-silver property in Indonesia.

The junior is taking a breather in order to complete geological mapping and down-hole geophysical surveys aimed at defining additional drill targets. International Annax is also moving forward with an updated resource estimate, a preliminary mine design and possible infrastructure requirements for production.

The latest round of drilling confirmed the presence of significant mineralization in the Lae Jehe area.

Located 1.3 km north of Anjing Hitam, hole SOP-54 cut two shale-hosted zones of sulphide mineralization. The first zone returned 3.6% zinc and 1.9% lead over 15.6 metres, followed by 3 metres grading 5.5% zinc and 3.3% lead. Lower down in the hole, at the shale-carbonate contact, an 8.4-metre section ran 2.1% zinc and 1.5% lead. To date, the zone has been cut to a vertical depth of 400 metres. Infill drilling is required to define the resource potential.

International Annax also cut sulphides at the Bongkaras zone.

Located 2.2 km northwest of Anjing Hitam, holes SOP-50 and SOP-51 tested the downdip extension of mineralization hit in last year’s holes SOP-44 and SOP-45. The first hole cut 1.9 metres grading 3.7% zinc and 1.9% lead. The second hole hit three mineralized horizons grading up to 3.8% zinc, 1.4% lead and 17 grams silver over 5.4 metres from 138 metres down-hole.

Last year’s drill program outlined an indicated resource of 7.5 million tonnes grading 16.7% zinc, 10.3% lead and 14 grams silver per tonne for the Anjing Hitam zone.

The initial resource figures are based on 24 drill holes covering an 800-metre strike length. Slated in the inferred category are 2.5 million tonnes grading 11.3% zinc, 6.8% lead and 13 grams silver. The zone remains open along strike and downdip to the east.

Mineralization is hosted in a 30-to-140-metre-thick carbonaceous shale-and-siltstone sequence that strikes northwest and dips 35-60 northeast. The mineralized beds appear to flatten out at depth.

North of Anjing Hitam, at the Base Camp zone, the junior has pegged an inferred resource of 600,000 tonnes grading 6.3% zinc, 3.7% lead and 4 grams silver. The resource is based on four drill holes covering sections 10,400 north and 10,500 north.

The Dairi project comprises a seventh-generation contract of work covering 220 sq. km and a Kuasa Pertambanggan (land permit) of 136 sq. km.

International Annax holds an 80% interest in the project. The remainder is held by Aneka Tambang, an Indonesian mining company.