Drilling Update - High Grade Results Continue
Sydney, Oct 16, 2012 AEST (ABN Newswire) - High grade gold results continue to be returned in assays from the drilling at Indochine Mining's (
ASX:IDC) gold/silver project at Mt Kare, in Papua New Guinea (PNG). Recent best results returned include:
Drillhole 137SD12:
10 metres at 6 grams/tonne gold, 2.3 g/t silver from 7 metres depth downhole and
11 metres at 6.4 grams/tonne gold, 14 g/t silver from 25 to 36 metres downhole.
Drillhole 138SD12:
32 metres at 4.1 grams/tonne gold, 6.0 g/t silver from 35 to 67 metres downhole, which includes 4 metres at 17.2 grams/tonne gold, 4.3 g/t silver from 35 to 39 metres downhole.
Drillhole 142SD12:
42 metres at 2.0 grams/tonne gold, 38 g/t silver from 20 to 62 metres downhole, which includes 15 metres at 3.0 grams/tonne gold, 57 g/t silver from 45 to 60 metres downhole.
Drillhole 143SD12:
35 metres at 2.5 grams/tonne gold, 90 g/t silver from 7 to 42 metres downhole
Drillhole 144SD12:
25 metres at 2.7 grams/tonne gold, 21 g/t silver from 30 to 55 metres downhole, which includes 16 metres at 3.6 grams/tonne gold, 31 g/t silver from 30 to 46 metres downhole.
Results from a further 36 drillholes are pending and are expected to be released over the coming months. The JORC Resource currently stands at 28Mt @ 1.9g/t Au for 1.8Moz gold and 20Moz silver, with a higher grade zone of 700,000oz gold at 3.7 g/t gold.
Ian Ross, Chairman IDC confirms that the Company will be focusing on a new drilling programme to prove up Mr Tony Burgess's 3 high grade zones - as indicated in the announcement of 3 October 2012, excerpts from which are included below :
"The consultant, Tony Burgess, was the Senior Resource Geologist and Competent Person for Resource Definition at the nearby Porgera mine during a period of multi-million ounce discoveries by focusing on high grade zones. Mr Burgess conducted a recent 3 week data review of historical and recent drilling at Mt Kare, including a detailed site visit, designed to focus the future drilling programme.
He has identified three high grade zones with potential extensions at depth and along strike, in a report just tabled with the Board. Mr Burgess believes the high grade zones are "bonanza gold occurrences" with "an identical signature to the 'bonanza' quartz roscoelite zones at Porgera" which includes Zone VII (5.1Moz at 27g/t Au in 5.8Mt, historically).
A considerably improved geological model is being prepared which will drivethe drill targeting, defined by the onsite team and Mr Burgess, including new areas not adjacent to current mineralisation. The confidence in the resource potential is driven not solely by the presence and extent of the quartz roscoelite mineralisation, but also by the similar style and age of intrusive rocks, similar host rocks, and a similar structural setting."
To view all tables and diagrams, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-IDC-700286.pdf
Contact
Indochine Mining Limited
T: +61-2-8246-7007
F: +61-2-8246-7005
WWW: www.indochinemining.com
| ||
|
