Thursday, 11th November 2004 (2579 views)

AXMIN has announced the discovery of a new gold prospect in the Passendro project area, in the Central African Republic.

Bacanga Head has proved a potential gold mining site, with drilling and geological interpretations indicating that there is a sufficient geological continuity to allow the completion of drilling for resource definition.

CEO, Dr Jonathan Forster comments: "The Bacanga Head prospect is the fourth discovery of gold mineralisation at Passendro, along with French Camp, Katsia and Main Zone, which all lie within a 3 km radius.

"Our success rate of making new discoveries beneath geochemical soil anomalies remains extremely high, which is very encouraging given the large number of anomalies yet to test both at Passendro and across the other project areas. This work of testing new targets has already commenced."

Preliminary models have suggested that gold mineralisation occurs along several low-angled zone.

The company deals in mineral exploration and has a strong focus on gold in highly prospective properties across west and central Africa.

 

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