Southeast Asian discoveries

Auckland-based gold exploration company Zedex Minerals Ltd. looks set to begin a drilling programme in Vietnam at the end of February with a potential find of as much as 5 million ounces according to a company executive. “Finding anything above 2 million ounces is harder and harder these days, so that would be a very sizable deposit,” managing director Paul Seton said. The initial drilling program may cost about $2 million and Zedex was “well down the path” of raising the funds, Seton said. “Funding is a big problem for everyone at the moment, but gold is going to be on a general upward trend,” he said. “Money is going to be coming into gold.” The company also focuses on silver, copper, molybdenum, lead, zinc, and tungsten deposits, in Vietnam, Malaysia and Australia.