Platinum And Palladium With Nickel Mineralization

Asian Mineral Resources Limited

7th February 2001

Asian Mineral Resources Drilling Encounters Significant Platinum And Palladium With Nickel Mineralization In Vietnam

Asian Mineral Resources Limited (AMV: New Zealand Unlisted Securities Board) advises results have been received from the second batch of samples from the drilling on the Ta Khoa Licence in northern Vietnam. The samples were assayed at the Lakefield Research Laboratory in Canada

As previously announced the second batch of samples included those from a massive sulphide zone intersected in hole BP00-01 (King Snake Target) at a core depth of 90m. Assay results confirmed the presence of high-grade nickel, copper and platinum and palladium mineralization at this locality. Hole BP00-01 intersected 3.04 metres averaging 2.50% Ni, 0.86%Cu, 0.1%Co, 0.83% g/t Pt, 0.92 g/t Pd and 0.41 g/t Au. Details of the mineralised section are tabulated below:

Individual Samples Width
Metres %
Nickel %
Copper %
Cobalt Grams per tonne
Platinum Palladium Gold
PGO 02161
PGO 02162
PGO 02163
PGO 02164 0.30
0.80
0.94
1.00 0.14
3.73
3.49
1.30 0.56
1.32
0.96
0.48 <0.01
0.14
0.14
0.06 <0.02
1.01
1.21
0.57 0.03
1.94
0.99
0.31 1.33
0.96
0.07
0.02

Weighted Average 3.04 2.50 0.86 0.10 0.83 0.92 0.41

During the drill program, surface chip and float samples were also collected along the 170m exposed length of the King Snake Zone. These samples assayed up to 1.14 % Ni, 1.78 % Cu, 0.005 % Co, 0.50 g/t Pt and 0.55 g/t Pd over 0.8 metres and up to 2.52 g/t Pt+ Pd, 1.34 % Ni, 0.72 % Cu in float. The King Snake Zone is open at depth and along strike in both directions. The strike extensions of this Zone are covered by river gravels and scree.
These results from the King Snake Target, which is 1km north east of Ban Phuc are considered very encouraging as the ground geophysical conductor, (UTEM), that was tested successfully by BP00-01 is 600m long.

Hong Ngai
Some weakly mineralised weathered surface samples from the Hong Ngai area in the vicinity of drill hole HN00-01 also yielded significantly anomalous results. In particular a 5.3m channel gave the following results

Individual Samples Width
Metres %
Nickel %
Copper %
Cobalt Grams per tonne
Platinum Palladium Gold
PGO 1913
PGO 1914
PGO 1915 1.3m
1.5m
2.5m 0.27
0.23
0.34
0.08
0.08
0.16
0.02
0.02
0.02 0.28
0.39
0.40 0.21
0.24
0.28 <0.02
<0.02
0.08

Weighted Average 5.3m 0.29 0.12 0.02 0.38 0.25 0.05

These results demonstrate that at least some nickel and copper suphides in the Hong Ngai area are associated with platinum and palladium mineralization.
Results from the third batch of samples, which includes core from HN00-01, should be available in about ten days.
The second batch of samples also included the balance of results from BP00-03, BT00-01, BP00-06 and partial results from BN00-01. None were significant.
The attached map shows the location of the various grids and important mineralised targets in the Ta Khoa concessions. The prefixes used for the drill holes are as follows:
BP : Ban Phuc Grid
BT : Ban Tang Grid
BN : Ban Nguon Grid
HN : Hong Ngai Grid

The information contained in this report is based on information compiled by a person who has more than five years experience in the field of activity being reported on. This report accurately reflects the information compiled by that person.

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