AXMIN Inc.
TSX VENTURE : AXM

AXMIN Inc.

September 08, 2005 10:12 ET

AXMIN Inc.: High Grade Shoots Intersected at Katsia, Bambari Permits, Central African Republic

TORONTO, ONTARIO--(CCNMatthews - Sept. 8, 2005) - AXMIN Inc. (TSX VENTURE:AXM) is pleased to announce the discovery of high grade gold shoots in the central part of the Katsia prospect within the Passendro project area, Bambari Permits, Central African Republic. Results, not previously reported, include 89.1 g/t Au over 4.5 metres, 31.8 g/t Au over 4.5 metres, 34.1 g/t over 3.0 metres and 21.7 g/t Au over 4.5 metres.

These high grade structures can be traced from surface and have been tested so far by core drilling to a vertical depth ranging from 80 to 175 metres on seven sections, with up to 3 individual high grade structures recognised on each section. The strike length of each shoot is currently estimated at between 50 to120 metres with true widths of each estimated to vary from 1.0 to 3.5 metres. The weighted average grade of the 33 intercepts recorded to date is 33.5 g/t Au with a weighted average intercept width of 2.0 metres (approximate estimated true width 1.5 metres). Gold mineralisation is closely associated with quartz-tourmaline veins with a noticeable abundance of visible gold.

Chief Executive Officer, Dr Jonathan Forster comments "The interpretation that the high grade intersections at Katsia represent continuous veins with an average grade to date in excess of one ounce per tonne is an important new development at Bambari. This high grade system is open at depth and offers the prospect of underground development when the open pits are exhausted."

The following table summarises the drilling intercepts that define the high grade shoots.



Hole No. Total North East Azi- Declin. From To Inter- Grade
Depth Co- Co- muth (deg) (m) (m) val (g/t
(m) ord ord (deg) (m) Au)
---------------------------------------------------------------------
PDC 66 110.1 2600 985 079 -65 14.1 15.6 1.5 17.0
and 21.6 23.1 1.5 10.4
PDC 42 131.0 2600 947 079 -65 65.8 68.1 2.3 9.6
PDC 48 182.0 2600 907 079 -65 141.5 143.0 1.5 33.7
PRC 165(ii)60.0 2560 990 079 -50 22.0 23.0 1.0 70.5
PDC 65 125.0 2560 965 079 -65 41.0 45.5 4.5 21.7
PDC 68 135.7 2560 948 079 -65 51.7 53.2 1.5 30.1
PDC 64 149.0 2560 931 079 -65 65.1 68.1 3.0 37.8
and 81.6 83.1 1.5 18.7
PDC 69 135.7 2550 948 079 -65 35.2 36.7 1.5 50.3
and 68.2 71.2 3.0 34.1
and 84.7 89.2 4.5 89.1
PDC 70 135.7 2540 948 079 -65 71.2 72.7 1.5 44.0
and 84.7 86.2 1.5 46.1
and 93.7 95.2 1.5 23.6
PRC 164(ii)60.0 2520 1010 079 -50 3.0 5.0 2.0 29.6
PDC 46(i) 119.1 2520 980 079 -65 11.6 12.6 1.0 22.2
and 38.5 41.1 2.6 44.8
and 71.1 72.6 1.5 31.8
PDC 19 101.0 2520 940 079 -65 68.0 68.7 0.7 15.6
and 79.0 80.0 1.0 42.3
and 92.0 93.5 1.5 11.2
PDC 63 170.0 2480 945 079 -65 87.6 89.1 1.5 12.4
PDC 57(i) 152.1 2440 1000 079 -65 23.2 24.7 1.5 11.3
and 83.2 84.7 1.5 13.6
PDC 43 151.0 2440 950 079 -65 35.0 36.5 1.5 20.5
and 135.5 140.0 4.5 31.8
and 150.0 151.0 1.0 31.3

(i) Previously announced May 6, 2004
(ii) Previously announced June 22, 2004


High grade zones are taken with 8 g/t Au lower cut off with no cut of high grade values. Analytical work is being carried out at the independent OMAC Laboratories Ltd. in Ireland. The samples are subject to a full sample preparation followed by a 50 gram fire assay with an AA finish. Blanks (5%), pulp duplicates (5%) and a suite of Geostats standard reference material are being used to monitor sample preparation and laboratory performance during first pass analysis. Further QA/QC work is carried out on a quarterly basis. This comprises check assaying 20% of all greater than 500 ppb samples using prepped coarse reject samples at OMAC and a second laboratory. Check assay batches are also routinely monitored using 5% blanks, standards and pulp duplicates.

Following the July 5, 2005 announcement of the updated resource estimate at Passendro on August 5, 2005 AXMIN filed with SEDAR the technical report prepared by SRK Consulting of the United Kingdom (see www.sedar.com for the full report). This resource estimate for Passendro contains an indicated mineral resource of 1.072 million ounces (13.2 Mt grading 2.5 g/t Au) and an inferred mineral resource of 1.109 million ounces (19.3 Mt grading 1.8 g/t Au).

This press release has been reviewed by an in-house qualified person, Dr. Jonathan Forster, Fellow of the Institute of Materials, Mining and Metallurgy ("IMMM").

AXMIN is a mineral exploration company with a strong focus on gold in highly prospective properties across central and west Africa.

For more information regarding AXMIN visit our website at www.axmininc.com.

There is also a map available on CCNMatthews' website. To view this map, please click on this link: http://www2.ccnmatthews.com/database/fax/2000/axm908.pdf

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • AXMIN Inc.
    Jon Forster
    Chief Executive Officer
    +44 (0)1233 665600 (UK)
    or
    AXMIN Inc.
    Judith Webster
    Manager - Investor Relations
    +1 416 368 0993 (Canada)
    ir@axmininc.com
    www.axmininc.com