ActivEX hits 4.98g/t gold and 118g/t silver at Barambah epithermal project


ActivEX (ASX: AIV) has had the most significant intersection to date from drilling at the Barambah epithermal project, returning 4.98 grams per tonne (g/t) gold and 118g/t silver over a 17.15 metre interval.

The company has also identified high gold values in rock samples from the second parallel vein system at the project in south-eastern Queensland.  The vein system is located 500 metres north-east of the Barambah open pit.

The outstanding result substantiates a zone of very high grade mineralisation, first intersected by the company in drilling last year, and shows that it can attain good widths of mineralisation.

Doug Young, ActivEX’s managing director, said “this is a difficult body to target and the southern extensions are still not well understood so more drilling will be required to extend this zone at depth.

"Importantly, the two best hits we have had are the deepest holes drilled to date within the plunging shoot so the grade and widths are looking good."

The company has hit breccia zones in all the holes drilled in the drill program at Barambah, which commenced 9 July 2011 and was completed on 9 August 2011.

Six holes were drilled for a total of 664.1 metres of HQ and NQ core drilling. Assay results for the remaining holes are expected in the next few weeks.

Rock chip samples returned gold values up to 18.6g/t gold and 214g/t silver from a narrow epithermal vein which has the potential to widen significantly if the company can identify a mineralised shoot.

The company said it may consider targeting this zone during the next round of drilling.

This project is a joint venture between ActivEX and Norton Gold Fields (ASX: NGF), with ActivEX having the right to earn up to 75% of the project.

Quick facts: ActivEX

Price: 0.155 AUD

Market: ASX
Market Cap: $27.46 m

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