Drilling identifies new broad zone of copper-gold mineralisation at the Puthep Copper Project, Thailand Pan Australian Resources Limited (ASX Stock Code: “PNA”) is pleased to announce that drilling has intersected a previously unidentified broad zone of porphyry copper-gold mineralisation in its Phase 1 drilling program at the Puthep Copper Project in northern Thailand (Figure 1). Drill hole P1DD006 (Table 1 and Figure 2) was designed to test the potential dimensions and grade of a skarn unit in the north of the PUT 1 deposit area, which was previously intersected by two other holes. Unexpectedly, P1DD006 also intersected a broad zone of porphyry mineralisation adjacent to the skarn that significantly upgrades the primary resource potential of the deposit: • 96 metres grading 0.6% copper and 0.3g/t gold from a depth of 62 metres The latest drill results extend and confirm copper mineralisation zones within sediments and skarn units with best results including: • 62 metres grading 1.0% copper from 72 metres in hole P1DD008; and • 22 metres grading 0.7% copper from 90 metres in hole P1DD007 The Phase 1 drill program - to be completed in July 2007 - comprises 27 holes designed to conduct an initial evaluation of the potential for a primary sulphide mineral resource below the currently identified shallow oxide-transitional mineral resource (defined to a depth of 100m): • 84 million tonnes at 0.4% copper comprising an: Indicated Mineral Resource of 22 million tonnes at 0.4% copper and an Inferred Mineral Resource of 62 million tonnes at 0.4% copper (at a 0.1% copper cut-off).
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