December 09, 04
CENTRAL AFRICAN REPUBLIC: FURTHER DRILL RESULTS FROM BACANGA HEAD; NEW ZONE IDENTIFIED AT MAIN ZONE NORTH
Toronto, Ontario – December 09, 2004, AXMIN Inc. (AXM-TSX Venture) is pleased to announce the results from the remaining eight core holes from the first phase of drilling at Bacanga Head prospect at the Passendro project area, Bambari Permits in the Central African Republic. Results include 10.5 metres at 3.4 g/t Au, 3.0 metres at 15.0 g/t Au and 3.0 metres at 11.7 g/t Au. Reconnaissance reverse circulation ("RC") drilling has also identified a new gold zone of at least 600 metres length at the Main Zone North prospect, which represents the fifth gold discovery within a 3 km radius, along with the French Camp, Katsia, Main Zone and Bacanga Head prospects.
Bacanga Head
The first phase of 2,100 metres of core drilling (15 holes) at Bacanga Head has now been completed on drill fences set mainly 80 metres apart over a strike length of 320 metres. Results continue to support a geological model that incorporates a series of closely spaced low angle (40o-50o) gold mineralised shear zones within an infolded Banded Ironstone Formation ("BIF") and schist package. A program combining both RC and core drilling is currently in progress to infill the drill fences at 40 metre spacing to both enhance the understanding of the geological model to enable resource estimates to be made and to test immediate extensions. The structures remain open in all directions, although testing extensions to the southeast is made difficult due to steep terrain. Suitable equipment to construct drill access is expected to arrive on site shortly.
Results from the first 7 holes were previously announced (press release November 11, 2004). Results from the remaining eight holes are tabulated as follows:
Hole No. |
Total
Depth (m) |
North
Co-ord |
East
Co-ord* |
Azimuth
(deg) |
Declin.
(deg) |
From
(m) |
To
(m) |
Interval
(m) |
Grade
(g/t Au) |
PDC 083 |
161.0 |
5000 |
1050 |
057 |
-65 |
41.1 |
44.1 |
3.0 |
1.0 |
|
|
|
|
|
and |
48.6 |
51.6 |
3.0 |
1.0 |
|
|
|
|
|
and |
57.6 |
59.1 |
1.5 |
1.0 |
|
|
|
|
|
and |
68.1 |
71.1 |
3.0 |
11.7 |
PDC 084 |
179.5 |
5080 |
1060 |
057 |
-65 |
15.6 |
26.1 |
10.5 |
3.4 |
|
|
|
|
|
and |
33.6 |
35.1 |
1.5 |
3.9 |
|
|
|
|
|
and |
39.6 |
41.1 |
1.5 |
1.4 |
|
|
|
|
|
and |
45.6 |
48.6 |
3.0 |
2.8 |
|
|
|
|
|
and |
59.1 |
62.1 |
3.0 |
2.7 |
|
|
|
|
|
and |
99.5 |
101.0 |
1.5 |
2.6 |
PDC 085 |
179.1 |
5160 |
1043 |
057 |
-65 |
45.7 |
47.2 |
1.5 |
3.4 |
|
|
|
|
|
and |
95.1 |
98.1 |
3.0 |
15.0 |
|
|
|
|
|
and |
111.6 |
113.1 |
1.5 |
3.3 |
PDC 086 |
102.5 |
5190 |
960 |
057 |
-65 |
27.5 |
29.0 |
1.5 |
4.2 |
|
|
|
|
|
and |
33.5 |
35.0 |
1.5 |
5.8 |
|
|
|
|
|
and |
41.0 |
42.5 |
1.5 |
1.1 |
PDC 087 |
103.9 |
5160 |
920 |
057 |
-65 |
3.0 |
7.9 |
4.9 |
2.6 |
|
|
|
|
|
and |
82.9 |
88.9 |
6.0 |
1.2 |
PDC 088 |
123.4 |
5160 |
878 |
057 |
-65 |
NSI |
|
|
|
PDC 089 |
179.0 |
5120 |
960 |
057 |
-65 |
NSI |
|
|
|
PDC 090 |
169.0 |
5085 |
882 |
057 |
-65 |
26.0 |
29.0 |
3.0 |
1.9 |
|
|
|
|
|
and |
74.0 |
75.5 |
1.5 |
1.8 |
|
|
|
|
|
and |
78.5 |
80.0 |
1.5 |
1.5 |
* note that easterly coordinates decline in value to the east
· NSI – No significant intersection
Main Zone North
Just 800 metres north of Main Zone prospect is a zone of gold in soil anomalies (threshold of +50 ppb Au) extending over 1,100 metres, and overlying a BIF which has been tested by a series of shallow (25 to 40 metre depth) reconnaissance RC drill holes on fences mainly 160 metres apart, for a total of 2,000 metres of drilling. The objective was to identify targets for subsequent deeper exploration drilling.
Assay results from this first pass reconnaissance RC drilling confirm the presence of at least two parallel gold mineralised structures lying within 50 metres of each other and carrying values that range from anomalous up to 53 g/t Au over 1 metre. Each zone has a potential width of 10 to 15 metres over a strike length of at least 600 metres. Experience shows that deeper holes need to undercut the zones before any conclusions on true widths and grades can be determined.
An initial program of three deeper core holes has recently been completed in BIF, at the southern end of the Main Zone North mineralized structure with the intent of providing a better understanding of the style and geometry of the gold mineralisation, and to provide initial information on gold content. Results from the first hole are set out in the table below. Assays are awaited for the remaining two holes. Further drilling is planned for 2005 to follow up this initial discovery at Main Zone North.
Hole No. |
Total
Depth (m) |
North
Co-ord |
East
Co-ord |
Azimuth
(deg) |
Declin.
(deg) |
From
(m) |
To
(m) |
Interval
(m) |
Grade
(g/t Au) |
PDC 115 |
175.7 |
12720 |
9860 |
036 |
-65 |
35.0 |
38.0 |
3.0 |
7.3 |
|
|
|
|
|
and |
165.0 |
169.5 |
4.5 |
3.3 |
Grade calculations are based on a 0.5 g/t Au lower cut off, with no upper cut using the initial assays received from the laboratory, and will be subject to further quality control assaying. Analytical work is being carried out at the independent OMAC Laboratories Ltd. in Ireland. The core samples are subject to a full sample preparation followed by a 50 gram fire assay with an AA finish. Core blanks (5%) are being used to monitor laboratory performance during first pass analysis. A full QA/QC program will be coordinated on 20% of all >500 ppb samples at the end of the program and will include 5% blanks, standards and duplicates. This press release has been reviewed by an in-house qualified person, Dr. Jonathan Forster, Fellow of the Institute of Materials, Mining and Metallurgy ("IMMM").
AXMIN is a mineral exploration company with a strong focus on gold in highly prospective properties across central and west Africa.
For more information regarding AXMIN visit our website at www.axmininc.com. |
