Dairi project continues to grow

International Annax Ventures (IAX-V) continues to intersect high-grade mineralization at the Dairi zinc-lead project, in northwestern Sumatra, Indonesia.

Sectional drilling in the Anjing Hitam area of the Sopokomil group of tenements has demonstrated that the Main zone of stratiform massive sulphide mineralization extends some 400 metres along strike, 200-400 metres downdip, and varies in thickness from 5 to 30 metres.

The latest drilling stepped out a further 100 metres on the southern end of the Main zone on section 9475N. Hole 41 intersected a 6.6-metre interval of massive sulphides, starting at a down-hole depth of 369 metres. Assay results are pending. Two additional holes will be drilled from this site.

Hole 36 was drilled from section 9570N in the southern portion of the deposit and intersected 11.4 metres grading 16.3% zinc, 8.4% lead and 13 grams silver, starting at 361 metres down-hole. Hole 36 cut the zone 120 metres downdip of previously reported hole 34 (23.7 metres grading 17.6% zinc, 11.8% lead and 13.9 grams silver).

Aided by a larger-capacity rig, hole 33 on section 9700N was deepened and intersected a 1.9-metre interval grading 23.3% zinc, 15.2% lead and 16.3 grams silver at 314.4 metres down-hole. The downdip extension on this section measures about 350 metres. Hole 33 was originally stopped short of its target, owing to the first rig’s inability to drill any deeper.

Hole 38 was collared on the northern end of the zone, on section 10000, and hit 3.4 metres of the main horizon grading 6.7% zinc, 14.9% lead and 32.2 grams silver, beginning at a down-hole depth of 38 metres.

The smaller rig is being used test the potential of the sedimentary-exhalative (sedex) style mineralization, along the 3.5-km length of the zone. The rig will also begin to test the carbonate-hosted zinc zone. Hole 37 tested a major ground electromagnetic geophysics anomaly, 400 metres west of the Sopokomil deposit, on section 9600N, but failed to intersect significant sulphides.

Hole 39 targeted both massive sulphide and carbonate-hosted mineralization on section 10400 N. The hole intersected a 3-metre interval of faulted massive sulphide blocks at 41 metres down-hole. This intercept correlates with an intercept in hole 5 (drilled in 1998), about 100 metres to the east, which assayed 6.3% zinc and 3.5% lead over 5.2 metres. A second, 22-metre intercept of sphalerite-bearing brecciated dolomite at a depth of 134 metres in hole 39 can be correlated with similar mineralization in hole 5 that assayed 6.2% zinc over 10 metres. Results for hole 39 remain pending.

The smaller rig will finish drilling a downdip hole on section 10400N before moving farther north to test sections 12000N and 12300N.

International Annax holds an 80% interest in the Dairi project, with the remainder held by Aneka Tambang, a government mining 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.

Australian-listed Herald Resources, which owns a 71% stake in Annax, is the operator.

In related news, Diadem Resources (DIR-M) announced that Herald has begun a due-diligence drilling campaign at the Kelapa Kampit base metal project, on the Indonesian Island of Belitung. Herald can earn a 70% interest in the project by spending US$3 million on exploration and development.