Zedex Ups Drilling On Further Positive Results

Media release
For Immediate Release

Zedex Ups Drilling On Further Positive Results

Auckland – March 8 2001 – Zedex Limited has resumed drilling at the planned production rate of 800 metres per month. Further positive results from its ongoing drilling program at the Phuoc Son property in central Vietnam have been received from Genalysis Laboratory of Perth, Western Australia.
The new assay results are from drill holes DSDH-61 (partial results previously reported) and from DSDH-62, which are both located in the Bai Go sector of the Dak Sa shear zone at Phuoc Son. Selected intercepts are shown in the Table below.

BAI GO SECTOR at PHUOC SON - Selected Intercept Results

Drill Hole #
Depth of
Intercept
Length of
Intercept

Assays

Au
Ag Pb Zn
From
(m) To
(m) Metres
Feet
g/t
oz / short
ton g/t
oz/
short
ton %
%

DSDH-61 95.40 96.00 0.60 1.97 4.52 0.13 1.00 0.02 0.01 0.01
115.00 137.00 22.0 72.18 5.76 0.17 7.55 0.22 0.73 0.29
Including: 125.00 137.00 12.00 39.37 9.71 0.28 9.50 0.28 0.91 0.00
125.00 133.00 8.00 26.25 13.42 0.39 14.13 0.41 1.35 0.00
128.00 131.00 3.00 9.84 21.32 0.62 25.00 0.73 2.39 0.00
DSDH-62 88.60 89.20 0.60 1.97 2.78 0.08 8.00 0.23 0.30 0.00
99.35 100.75 1.40 4.60 13.63 0.40 14.50 0.42 1.81 0.01
105.00 106.00 1.00 3.28 1.19 0.03 0.00 0.00 0.00 0.01

The results from the above drill holes at Bai Go demonstrate a south-westerly continuation of the high-grade shoot identified by earlier drilling at Bai Go. Two further holes (DSDH-63 and DSDH-64) have since been drilled to probe the Bai Go mineralisation further to the south west. Drilling of additional step-out holes along strike and down-dip from the known mineralisation at Bai Go is continuing with the use of two drilling rigs, whilst a third has commenced drilling down-dip from high-grade mineralisation exposed in artisan workings at Bai Gio, which is located 700 metres NNE of Bai Go. Zedex is encouraged to report that these results are consistent with the stated objective of delineating a substantial high-grade gold, silver and base metal resource at the Phuoc Son property.

ENDS

About Zedex

Zedex Limited was incorporated in February 1999 to acquire the Vietnamese assets previously owned by IT Capital Limited. Zedex’s major focus is gold exploration in the Phuoc Son gold, silver and base metal project. The company holds a strategic two-fold interest in the joint-venture company, New Vietnam Mining Corporation (NVM), which owns the Exploration Licences under which mineral tenure is held. Zedex holds a 10.18% direct interest in NVM and Zedex is the largest shareholder, with a 24.71% interest, in Canadian listed company, Olympus Pacific Mineral Inc. Olympus holds a controlling 57.18% interest in NVM and is also the project operator. The other joint venture partner in NVM is Ivanhoe Mines Limited, which adds its 32.64% interest in NVM to its other substantial worldwide mining interests.

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