high grade intersects

High-Grade Copper-Gold Intersection at the
Puthep Copper Project, Thailand
Drilling at the Puthep Copper Project in northern Thailand ( has intersected
a broad high-grade zone of copper-gold mineralisation.
Drill hole P1RD070 intersected:
• 90 metres at 2.6% copper and 1.3g/t gold from a down-hole depth of
46 metres
Significant +1% zinc intercepts were also intersected in this massive sulphide
interval.
The massive sulphide mineralisation is hosted by a steeply-dipping skarn adjacent to
a microdiorite contact zone. The skarn zone remains open and extension of
mineralisation along strike to the north will be tested. The true thickness of the
intersection is estimated at 50-70m.
Mineralisation at the PUT 1 deposit extends for a strike length of over three
kilometres and a width of up to one kilometre (Figure 2). Previous work has identified
a significant near-surface transitional copper resource to an average depth of
100 metres. There are seven drill rigs in operation at Puthep.
The objective of the 2008 drilling program is to define sufficient copper-gold mineral
resources and ore reserves capable of supporting a conventional bulk flotation
operation, similar to the Company’s recently commissioned Phu Kham Copper-Gold
Operation in Laos. The goal is to develop an operation at Puthep that would produce
50,000 tonnes of copper per annum, for a PanAust equity share of at least
30,000 tonnes of copper per annum.
The Puthep Copper Project is at the pre-feasibility study stage with completion of the
study scheduled for the March quarter 2009.
The Project is located in north-east Thailand near the provincial centre of Loei, within
three hours’ drive of the Company’s Vientiane office in Laos. It comprises two
copper deposits; PUT 1 and PUT 2, which are 14 kilometres apart. The Puthep
Project is a joint venture between PanAust and Padaeng Industry Public Company.
PanAust will earn a 51% interest in Puthep by completing a feasibility study on the
Puthep Copper Project and has further options to acquire a total 60-70% interest.