Media release
For immediate release
More High-Grade Mineralisation At Phuoc Son Gold Project
Auckland –19 April 2001 – Zedex Limited today announced that drilling has intersected very significant high-grade
mineralisation in another of its drill holes at the Phuoc Son gold project in Central Vietnam. The drill hole, DSDH-67
is located within the Bai Go sector of Phuoc Son and is one of seven holes that have been drilled since January, to test
the limits of a shoot of high-grade Au-Ag-Pb-Zn mineralisation within the sector.
DSDH-67 intersected appreciable mineralisation in three separate vein sections. These results confirm that the Bai Go
high-grade shoot extends further to the west (i.e. down-dip) beyond the present limit of drilling. The Bai Go shoot also
remains open along strike to the north. Further drilling (DSDH-68 -70) is therefore now in progress to investigate the
grade and extent of the Bai Go shoot projections in these directions. It is reported that to date, DSDH-70 has
intersected over 50 metres of quartz veining within the target zone.
As shown in the table, DSDH-62 intersected comparatively thin high-grade mineralisation, while holes DSDH-63–66
intersected subeconomic gold values. These holes therefore partially define the apparent south-easterly and
south-westerly limits of the Bai Go shoot.
At Bai Gio (700m NE of Bai Go), 3 additional holes (DSDH-71–73) were drilled to investigate the down-dip projection of a
high-grade shoot that was previously channel sampled from underground artisan workings. These holes each intersected
several zones of silicification and sheeted quartz veining. Assays are presently awaited.
At Nui Vang (600m SE of Bai Gio), a prominent gold-copper soil anomaly is coincident with extensive quartz float and
strong detrital gold dispersion within lateritic soils, residual upon a large ultramafic intrusive. A program of soil
geochemistry, geological mapping and trenching is progress to delineate targets for drilling.
At Bo (3km NE of Bai Go), a drill access road is being constructed in preparation of the planned second quarter drilling
of a steeply dipping, northerly striking zone of gold and base-metal mineralisation, hosted within greenschist
metavolcanic rocks.
At Bai Dat (1km south of Bai Go), further targets are being considered to extend the Bai Dat high-grade shoot, which has
to date been intersected in 24 drillholes.
Elsewhere within the project area, drill target definition programs (including detailed geological mapping and rock chip
geochemistry) are now in progress to investigate a further ten prospective zones of outcropping mineralisation. These
sites are being assessed for possible drilling investigation during the 2nd half of 2001.
Further exploration results will be released as they become available.
Selected preliminary drill assay results (> 1 g/t Au) are presented below.
PHUOC SON GOLD PROJECT (BAI GO SECTOR)
1ST QUARTER 2001 DRILL RESULTS
Drill hole # Depth of Intercept Length of Intercept Assays
Au Ag Pb Zn
From (m) To
(m) Metres Feet g/t oz / short ton g/t oz / short ton % %
DSDH-61 95.40 96.00 0.60 1.97 4.52 0.13 1.00 0.02 0.01 0.01
115.00 137.00 22.00 72.18 5.76 0.17 7.55 0.22 0.73 0.29
Including: 125.00 137.00 12.00 39.37 9.71 0.28 9.50 0.28 0.91 0.00
125.00 133.00 8.00 26.25 13.42 0.39 14.13 0.41 1.35 0.00
128.00 131.00 3.00 9.84 21.32 0.62 25.00 0.73 2.39 0.00
DSDH-62 88.60 89.20 0.60 1.97 2.78 0.08 8.00 0.23 0.30 0.00
99.35 100.05 0.70 2.30 2.47 0.07 1.00 0.03 0.05 0.00
100.05 100.75 0.70 2.30 24.77 0.72 28.00 0.81 3.57 0.01
105.00 106.00 1.00 3.28 1.19 0.03 0.00 0.00 0.00 0.01
DSDH-63 103.40 104.80 1.40 4.59 1.02 0.03 0.00 0.00 0.00 0.00
DSDH-65 116.20 116.50 0.30 0.98 2.14 0.06 1.00 0.03 0.05 0.02
DSDH-67 * 128.00 143.30 8.60 28.22 23.33 0.68 Assays not yet available **
Including: 128.00 128.60 0.60 1.97 9.12 0.27
128.60 129.00 0.40 1.31 235.03 6.86
129.00 129.80 0.80 2.62 22.80 0.67
133.00 134.00 1.00 3.28 5.79 0.17
138.70 139.40 0.70 2.30 3.15 0.09
139.40 140.30 0.90 2.95 3.54 0.10
140.30 141.50 1.20 3.94 37.24 1.09
142.00 143.30 1.30 4.27 19.60 0.57
* In 3 separate sections
** Complete assay analyses, including silver, lead and zinc assays, should be available next week.
ENDS
About Zedex
Zedex Limited’s major focus is gold exploration in the Phuoc Son gold, silver and base metal project. The company holds
a strategic two-fold interest in the joint-venture company, New Vietnam Mining Corporation (NVM), which owns the
Exploration Licences under which mineral tenure is held. Zedex holds a 10.18% direct interest in NVM and Zedex is the
largest shareholder, with a 24.71% interest, in Canadian listed company, Olympus Pacific Mineral Inc. Olympus holds a
controlling 57.18% interest in NVM and is also the project operator. The other joint venture partner in NVM is Ivanhoe
Mines Limited, which adds its 32.64% interest in NVM to its other substantial worldwide mining interests.