Advanced Exploration (LAOS)
PanAust has many prospective exploration targets within its 2,636 square kilometrecontract area within the Lao PDR. A major airborn geophysical survey was completed during 2008 and will provide data for targetting of exploration activities for many years.
Phonsavan Copper Project
- Tharkhek, Bohr Thong and KTL prospects
The Phonsavan Copper Project consists of three exploration targets (Tharkhek, Bohr Thong and KTL) which are located near the provincial capital, Phonsavan, in the north of the Phu Bia Contract Area.
At Tharkhek, an initial scout drilling program undertaken in late 2006 comprised four widely-spaced holes to test anomalous copper and gold geochemistry over a porphyry target coincident with a magnetic high. One of these diamond core holes, TKD002, intersected a continuous zone of copper mineralisation from surface to the end of the hole:
- 167m at 0.3% copper from surface, including
- 49m of 0.5% copper from 118m to the end of the hole.
Phase 2 drilling was completed at Tharkhek during the September 2007 quarter. Six holes were completed for 1,956 metres. Drilling has defined a copper-bearing porphyry/skarn system with a strike length of at least 700 meters which is open to the east and west.
Also during the September 2007, a number of geophysical surveys including ground magnetics and IP/resistivity were completed over a 10km by 2km area at the Tharkhek and Bohr Thong prospects.
Phu He Gold-Silver Prospect
At the Phu He Gold-Silver Prospect, Phase 4 drilling program commenced during the September 2007 quarter. The drill program comprised 11 RC holes and 7 diamond core holes for a total of 2,700 metres. Results to date are very encouraging and include:
- 8 metres at 6.6g/t gold from 32 metres (PHR024)
- 4 metres at 4.7g/t gold from 8 metres (PHR026)
- 2 metres at 9.5g/t gold from 4 metres (PHR027)
Ban Phonxai Project
The Ban Phonxai Prospect is a large copper and gold soil anomaly located approximately 25 kilometres northwest of the Company’s Phu Kham Copper-Gold deposit in the southern part of the Phu Bia Contract Area in Laos.
A significant base metal halo is evident. The main copper anomaly extends over 7.5 square kilometres and is open to the east. In addition to the anomalous copper are zones of anomalous gold and silver. Several soil samples have exceeded 0.85 ppm copper and over one gram per tonne of gold.
The gold anomaly is defined by 25-metre spaced grid sampling over 5 square kilometres. The copper anomaly is currently defined by a 50-metre spaced grid and infill to 25 metres is planned.
In 2007, encouraging results from drilling included 10 holes completed on 2 fences spaced 1 kilometre apart across the northern gold anomaly. Drilling intersected mineralised feldspar porphyry and skarns. The best intersections were:
- 12 metres at 1.04g/t gold
- 12 metres at 2.5g/t gold
- 38 metres at 1.17g/t gold, 46.7g/t silver
- 6 metres at 6.49g/t gold, 127g/t silver
Milestones include:
- Camp and access roads constructed in 2007
- Soil sampling in 2008
- Drilling of the gold anomaly
- Infill of the copper soil sampling grid is planned for 2009
Pha Nai
The Pha Nai Prospect is located approximately 20 kilometres north of the Company’s Phu Kham Copper-Gold deposit in the southern half of the Phu Bia Contract Area. The main copper anomaly at Pha Nai is 4 kilometres long and 2 kilometres wide that contains zones of anomalous gold, zinc and molybdenum.
Pha Nai is a large soil anomaly. Several copper values in soils have exceeded 0.1% copper with the highest value being 0.18% copper. Assays of surface outcrop have returned values of up to 0.73% copper. There is elevated molybdenum in the centre of the main copper anomaly. A separate 600 metre by 200 metre copper soil anomaly also hosts point gold soil anomalies of greater than 0.5g/t with a maximum of 1.7g/t.
The area to the east of the main copper anomaly is dominated by limestone and could have the potential to host skarn ore-bodies. The north-eastern corner is also anomalous in gold, zinc and lead while the south-eastern corner is zinc and lead enriched.
Following up encouraging results from trenching earlier in 2007, a Phase;1 reconnaissance drilling program was completed during the September quarter. The program comprised 10 holes for 2,581 metres. Drilling intersected mineralised feldspar porphyry and skarns. The best intersection was:
- 18 metres at 1% copper from 156 metres (PGD003)
A ground magnetic survey (approximately 155 line-kilometres) completed in October 2007 identified a number of magnetic anomalies. The results will form the basis for planning a program of further drilling.
Triple "N" Gold Prospect
The Triple "N" Gold Prospect is located in the far north of the Phu Bia Contract Area. During the September 2007 quarter, a program of trenching and sampling was completed to test for anomalous gold beneath an 1800 metre x 30 metre gold-in-soil anomaly. Initial assay results from the program show clusters of anomalous gold and once all assay results have been received, a follow up drilling program will be planned.