Pan Australian delivers further excellent results in Laos

28 January 2007 | 06:41 Code : 12573 Geoscience events
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Drilling intersected broad zones of primary gold and silver stockwork mineralisation....

  Pan Australian Resources has received further encouraging assay results from the remaining four drill holes of an initial six-hole drilling program, undertaken late in 2006 to evaluate the primary mineralisation potential at the Ban Houayxai deposit in Laos. The latest results confirm that the gold and silver mineralised system extends to over 200 vertical metres below surface and remains open at depth.

Drilling intersected broad zones of primary gold and silver stockwork mineralisation, with significant high-grade intervals. Some of the best results included Hole HDD009, with 250m at a gold equivalent grade of 1.5g/t (1.0g/t gold and 29.2g/t silver) from surface to the end-of-hole, including 82m at a gold equivalent grade of 3.2g/t (2.5g/t gold and 37.0g/t silver), from a depth of 66m and, Hole HDD011, with 42m at a gold equivalent grade of 1.8g/t (1.0g/t gold and 42.3g/t silver) from a depth of 24m, including 22m at a gold equivalent grade of 3.0g/t (1.5g/t gold and 75.8g/t silver) from a depth of 24m and 21m at a gold equivalent grade of 1.6g/t (1.2g/t gold and 18.5g/t silver) from a depth of 81m metres.The purpose of the drilling program was for Pan Australian to evaluate the resource potential of the primary gold-silver mineralisation that underlies the shallow oxide and transitional gold mineralisation at Ban Houayxai. The company drill-defined this mineralisation over a 1,200m strike length, to an average depth of 60m during 2006. These results, coupled with the earlier results from the oxide/transition program, are encouraging for Pan Australian, suggesting that primary mineralisation of economic potential could occur over a significant strike length.A resource estimate for the deposit will be completed during the March quarter for the oxide and transitional mineralisation.Pan Australian drilled its initial six holes over a strike length of only 75m. The primary mineralisation is open in both directions along strike and at depth.The company has scheduled follow-up drilling to start at Ban Houayxai in February to first test for westerly depth extensions to the broad zone of primary mineralisation identified on the two sections already drilled. By the end of February, Pan Australian plans to have six drill rigs operating within the Phu Bia Contract Area and, by the end of the March 2007 quarter, the company is likely to have a total of ten drill rigs operating, as two more units join the exploration effort in Laos and a further two rigs are mobilised to the Puthep Copper Project in northern Thailand.

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