Annamite has maintained a continuous presence in Laos since the company’s inception three years ago, where it has continued to leverage its local knowledge, expertise and network. The excellent exploration potential of Laos, commodity price forecasts and availability of capital are now all favorable for Annamite to make a significant discovery.
LOCATIONS IN LAOS
AND THE MAJOR
LOCATION OF KNOWN
Annamite is now employing about 30 staff on the ground, hiring local Lao personnel in areas where we explore, with training provided to build their capabilities.
Located in Hinherb and Fuang districts, Vientiane Province, the Sokdee Project, situated in the under-explored Lao portion of the Loei Fold Belt represents a prime, drill-ready opportunity. Historical work has identified a large porphyry copper-gold prospect and there is good potential for several other porphyry-related Cu-Au targets in the region. Previously, a lack of modern technical skills and data integration has hindered progress towards resource definition.
Annamite, together with its two partners Hyundae Black Stone (HBS) and Nana Road and Bridge Construction (NRBC) hold two tenements, Hinherb, containing the three prospects mentioned previously as well as an additional six targets, and Fuang, with one emerging target. The two tenements together cover 50sq.km. A new area of about 43sq.km. is being added to the concession agreement.
The Namthom porphyry prospect, situated in the southern part of the eastern tenement block, is a significant copper and gold system, historically tested by several drill holes in 2013 and 2014. However, only one hole actually intersected the mineralized part of the porphyry system. Soil sampling, geophysical surveys, and two scout drilling programme by Annamite has outlined a 6km by 2km porphyry systems.
Following due diligence in 2020-2021, exploration by Annamite on the Sokdee Project commenced in March 2022. Since then, fieldwork on the Sokdee Project has continued without interruption. The first exploration campaign in March to August 2022 at Namthom prospect, in the southern part of the tenement, consisted of soil geochemistry, drone magnetics and a scout drilling program of eight core (DD) holes, totaling 1,978m.
From September 2022 through April 2023, the team undertook infill soil sampling and an induced polarization (IP) survey consisting of six survey lines, to better understand the geometry of the potential deposits at Namthom. A new exciting target named Mouk located in the northern part of the tenement was identified, with multi-element analytical results showing significant potential. An additional drone magnetics survey to the north of the previous survey, to cover Mouk and Mouk West targets, was completed in February 2023.
The second exploration campaign started with trenching in March-April 2023 on the most promising, peripheral anomalies on the eastern and northern parts of Namthom, ahead of any drilling. A total length of 665.3m was completed with four trenches. The 2023 Stage-1 drilling program included nine short Reverse Circulation percussion (RC) holes totalling 596m along strike into the peripheral targets of Grassy, Spine and Palm, in and around Namthom prospect.
Ahead of DD drilling, a new IP survey was undertaken in June-July 2023 at Grassy and Mouk targets, with Rio Tinto, per the Agreement signed on 6 July, to assist with initial testing of surface targets.
Stage-2 drilling in July-October 2023, includes four DD holes totaling 1,496m into the exciting Mouk target as well as one hole at Namthom. Full assay results are expected by January 2024.
The initial exploration assessment shows the presence of Cu-Au-Mo porphyries and peripheral Au-Ag-Zn targets in the Sokdee concession, with six prospects identified by Annamite.
2022 Exploration Results for Namthom
Since conducting due diligence reconnaissance mapping, quartering and analysing drill core, and collecting widely-spaced soil geochemical data, the Namthom porphyry has been modelled using all available information. Recent exploration of this exciting prospect has included the completion and analysis of 80 infill soil samples within and around the well-defined, coincident Cu-Au-Mo anomalies associated with the porphyry, followed by an additional 84 regional soil samples collected over the remainder of the eastern tenement block recently completed. Additional geological mapping has continued, to be followed in April-June 2022 by initial drilling within the main soil anomaly.