Sydney, Feb 13, 2006 AEST (ABN Newswire) - ActivEX Limited (ASX: AIV) declared it's offer open on 3rd February. The offer is to raise a minimum of $2.5M, the bulk of the funds being applied to exploration on it's four project areas in Queensland. Over-subscriptions of up to $1M will be accepted. The offer closes on 3rd March 2006.
The Company's most exciting project is Prospect Creek, which is highly prospective for epithermal bonanza style gold mineralisation, similar to Queensland's largest gold operation at Vera Nancy. Key targets have already been earmarked for drilling. These aim to extend significant gold mineralisation (52m @ 2.1g/t Au) at Prairie Creek and to test bonanza targets at Gossans West which are interpreted to be sitting below the outcrop of the known alteration pipes.
Booubyjan is highly prospective for a porphyry copper/gold target in the style of Cadia (NSW). The prospect is characterised by areas of extensive alteration and large areas of already defined low grade copper and gold mineralisation. It also hosts significant untested electrical and magnetic geophysical targets, geochemical targets and open-ended drill intersections.
The Pentland project is located in North Queensland, an area known for hosting bulk mineable, intrusive related gold deposits in the style of Kidston, Mt Leyshon and Ravenswood. The project is attractive for its widespread occurrence of old gold workings, which have been poorly explored. Numerous significant gold intercepts have been recorded over the EPM, plus wide low grade intercepts of porphyry style mineralisation. Recent field activities by ActivEX have re-interpreted a large area of gold bearing alteration to be volcanic fragmental hosted and therefore related to volcanogenic massive sulphide style mineralisation in an area previously targeted as a breccia pipe.
Lake Monduran is a poorly tested region containing two target styles. One is a porphyry copper concept with a large area of anomalous copper geochemistry along with old molybdenum/tungsten workings in the right setting. This prospect will require field programs in the first year of activities to define the focal point of the mineralising system prior to refining drill targets.
The second target style in the EPM is a volcanogenic massive sulphide (VMS) base metal deposit in the style of Rosebery, Tasmania. The prospect features wide drill intercepts of zinc mineralisation in a volcanic pile with untested peripheral stratigraphic targets.
A prospectus is available for download at:
http://www.activex.com.au/index.php?pid=prospectus
Contact
TEL: +61 7 3369 6025
FAX: +61 7 3369 6077
EMAIL: admin@activex.com.au
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