Update on First Drilling Phase on Major PNG Gold Project
Sydney, Mar 28, 2012 AEST (ABN Newswire) - Indochine Mining (
ASX:IDC) is nearing completion of the first phase of large diameter core drilling ( ~3200m) with 19 holes completed and 3 holes underway for 2450 metres to date on its Mt Kare gold/silver project in Papua New Guinea (PNG).
This initial drilling phase is for metallurgical test work as part of the pre-feasibility study (PFS) scheduled for completion in August 2012. These data are also expected to improve the quality and increase the current resource inventory. The current total JORC Mineral Resource is 1.8 million ounces gold and 20 million ounces silver in 28.3 million tonnes at 1.9 g/t gold.
Results will be announced as they become available, with first results expected next week and subsequent results through into July. Initial assay results will be from identified high grade zones, which include 700,000 ounces gold at 3.7 g/t gold in 6 million tonnes (Indicated Resource).
Contact
Stephen Promnitz
Chief Executive Officer,
Stephen Promnitz, CEO
Email:
info@indochinemining.com
TEL: +61-2-8246-7007
FCR - Rob Williams / Anthony Tregoning
+61 2 8264 1003 / +61 468 999 369
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