AXMIN Inc.: Central African Republic: Further Drill Results From Bacanga Head; New Zone Identified At Main Zone North.TORONTO -- AXMIN Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:AXM AXM Astonishing X-Men (comic) AXM Authorized Cross Memory ) 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 Central African Republic, republic (2005 est. pop. 3,800,000), 240,534 sq mi (622,983 sq km), central Africa. The landlocked nation is bordered by Chad (N), Sudan (E), Congo (Kinshasa) and Congo (Brazzaville) (S), and Cameroon (W). . 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 (40 degrees-50 degrees) gold mineralised shear zones within an infolded Banded Ironstone ironstone a natural ore which may contain significant amounts of fluorine and cause fluorosis in cattle grazing pastures in the vicinity of a factory which calcines the ore. Formation ("BIF BIF In currencies, this is the abbreviation for the Burundi Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ") and schist schist (shĭst), metamorphic rock having a foliated, or plated, structure called schistosity in which the component flaky minerals are visible to the naked eye. package. A program combining both RC and core drilling is currently in progress to infill in·fill n. 1. The use of vacant land and property within a built-up area for further construction or development, especially as part of a neighborhood preservation or limited growth program. 2. 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 Total North East Azimuth Declin. From To Inter- Grade
No. Depth Co-ord Co-ord (deg) (deg) (m) (m) val (g/t
(m) (i) (m) Au)
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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
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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
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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
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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
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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
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PDC 088 123.4 5160 878 057 -65 NSI
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PDC 089 179.0 5120 960 057 -65 NSI
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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
(i) 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 ppb abbr. parts per billion Au) extending over 1,100 metres, and overlying overlying suffocation of piglets by the sow. The piglets may be weak from illness or malnutrition, the sow may be clumsy or ill, the pen may be inadequate in size or poorly designed so that piglets cannot escape. 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 Carrying Value Also know as "book value," it is a company's total assets minus intangible assets and liabilities, such as debt. Notes: This is different than market value, as it can be higher or lower depending on the circumstances. 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 min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. 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 Total North East Azimuth Declin. From To Inter- Grade
No. Depth Co-ord Co-ord (deg) (deg) (m) (m) val (g/t
(m) (m) Au)
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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 OMAC Open Modular Architecture Control(ler) OMAC One-Key CBC Mac OMAC One Man Army Corps OMAC Observational Metahuman Activity Construct OMAC Ocala Municipal Arts Commission (Florida) 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 QA/QC Quality Assurance/Quality Control program will be coordinated on 20% of all greater than 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 metallurgy (mĕt`əlûr'jē), science and technology of metals and their alloys. Modern metallurgical research is concerned with the preparation of radioactive metals, with obtaining metals economically from low-grade ores, with ("IMMM IMMM Institute of Materials Minerals and Mining IMMM Inflight Missile Modification Message "). AXMIN is a mineral exploration company with a strong focus on gold in highly prospective properties across central and west Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. . For more information regarding AXMIN visit our website at www.axmininc.com. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release. Axmin Inc. (TSX VENTURE:AXM) |
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