Sydney, Mar 28, 2012 (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).
Indochine Mining Limited (ASX:IDC) is a gold-copper exploration and development company. In Cambodia, it has the largest mining property holding in a country that has had very limited modern exploration, and is within a region known for world-class gold and copper deposits.
In Papua New Guinea (PNG), also known for large gold and copper deposits, Indochine holds an option over a major gold resource at Mt Kare. In Laos, potential exploration areas are being evaluated.
Stephen Promnitz Chief Executive Officer, Stephen Promnitz, CEO Email: email@example.com TEL: +61-2-8246-7007
FCR - Rob Williams / Anthony Tregoning +61 2 8264 1003 / +61 468 999 369