Announcement OutASX/MEDIA ANNOUNCEMENT 7th December 2007WILUNA...

Announcement Out

ASX/MEDIA ANNOUNCEMENT 7th December 2007
WILUNA EXPLORATION UPDATE
DRILLING EXTENDS MINERALISED ZONES AND CONTINUES INFILL PROGRAM FOR RESOURCE ESTIMATE
Apex Minerals NL (ASX:AXM) is pleased to announce further positive results from its Wiluna gold mine in the Eastern Goldfields of Western Australia, where drilling is continuing to extend known mineralised zones and to infill these zones (Table 1, and Figures 1 & 2). Most of the rigs are currently focussed on infill drilling these zones prior to Christmas to facilitate a new resource estimate scheduled for the first quarter of 2008. Better recent intersections are as follows:
Calais
• 5.4m @ 15.8g/t gold (est. 5.4m true width) from 79m in CADH755.
• 4.6m @ 14.9g/t gold (est. 4.6m true width) from 80.3m in CADH750.
Henry5
• 7.4m @ 18.6g/t gold (est. 3.7m true width) from 134.1m in CADH699.
• 4.6m @ 15.7g/t gold (est. 2.3m true width) from 103.3m in CADH688.
• 3.8m @ 14.6g/t gold (est. 3.3m true width) from 92.3m in CADH781.
Henry5 North
• 5.3m @ 7.4g/t gold (est. 2.7m true width) from 293.9m in WDH1131.
• 2.6m @ 18.3g/t gold (est. 2.5m true width) from 249.4m in WDH1188.
These holes are situated 50-150m north of the main Henry5 North zone, mid-way between the Henry5 North and Woodley zones.
Burgundy
• 10.8m @ 5.4g/t gold (est 5.4m true width) from 293.7m in CADH776.
• 6.8m @ 4.9g/t gold (est. 4.8m true width) from 263.2m in CADH774.
• 10.7m @ 4.1g/t gold (est 5.5m true width) from 251.8m in CADH770.
These holes extend the Burgundy zone a further 100m down plunge to the north.
Some exploration drilling of other targets is also continuing, with mineralisation being intersected in a variety of locations as follows:
• 5.2m @ 5.1g/t gold (est. 4.4m true width) from 118.4m in WDH1125, on the Bulletin Fault, between West Lode and East Lode.
• 3.6m @ 4.2g/t gold (est. 3.6m true width) from 301.0m in CADH750, on the Crispin target, interpreted to be situated at the intersection of West Lode and the Bulletin Fault.
2
• 8.2m @ 4.3g/t gold (true width unknown) from 131.8m in WDH1164, in a cross lode structure between East Lode and West Lode.
• 1.0m @ 48.0g/t gold (true width unknown) from 102.0m in CADH763, in the down plunge continuation of the Golden Age Reef.
In addition to these intersections, assays are awaited for a number of holes which have intersected the Crispin target on West Lode, the Scroop target on East Lode, the Brothers Reef, and also two holes which have intersected a newly discovered fault offset portion of the previously mined Golden Age Reef. This reef has been offset to the north by strike slip movement across the East Lode fault. Assays for these holes are expected before Christmas.
The resource definition and exploration drilling program will continue well into 2008, with five underground rigs continuing to drill infill, extensional and exploration holes. This program will be supplemented by a surface drill rig early in 2008, which will begin testing additional targets elsewhere on the mine leases.
Commenting on the result, Apex’s Exploration Director, Dr. Mark Bennett, said: “Since acquiring Wiluna in July we have identified several new zones and we are now undertaking the infill drilling necessary to estimate a revised mineral resource early in 2008. Whilst this is our focus, we are also continuing to explore for additional zones in the vicinity of existing development to ensure these are incorporated into our mine planning”.
“We are very encouraged by what we are finding and hope to include these zones in a further resource estimate to be undertaken later on in 2008” he said.