Indochine Mining High Grade Gold Drill Results Mt Kare, PNG
Best results include:
12.6 metres(m) at 10.1 grams/tonne(g/t) gold, 104 g/t silver from 72.7m, and
9.7 metres at 7.8 g/t gold, 587 g/t silver from 58m, within a zone of
36.4 metres at 6.2 g/t gold, 232 g/t silver from 56.8m (Drillhole 123SD11);
10 metres at 4.4 g/t gold, 7.6 g/t silver from 74m (Drillhole 126SD12).
With 21 holes still pending assays, results will be announced regularly as they become available over the coming weeks, into July. This is part of the pre-feasibility study (PFS) scheduled for completion in August 2012.
These first two holes were designed to 'twin' previous drill holes for metallurgical test work.
Results are consistent with past holes with variations due to the nature of gold mineralisation, core size and core recoveries.
Ongoing drilling is anticipated to both increase the quantity and quality of the resource.
Located in a region known for large mines, 15km from the c. 30Moz - 500,000 oz/year Porgera gold mine, the Mt Kare project is developing as one of the next major gold projects in PNG.
Commenting on the results, Indochine's CEO Stephen Promnitz said, "These assays highlight the outstanding potential of the project to become one of PNG's next major gold/silver operations."
View the complete Indochine announcement including Tables & Figures at:
About Indochine Mining Limited
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.
Indochine Mining Limited