High Grade results extend WRZ North
Sydney, July 18, 2013 AEST (ABN Newswire) - Indochine Mining Limited (
ASX:IDC) is pleased to report high grade gold assays, up to 14 metres at 20 g/t gold, from drill holes 205SD13 and 206SD13, which extend gold mineralisation in the WRZ North zone at the company's Mt Kare Gold-Silver Project, PNG.
Highlights include:
14 m at 20.4 g/t gold from surface; and
48 m at 3.6 g/t gold from 68 m down hole,
Including 12 m at 6.1 g/t gold (drill hole 206SD13).
37 m at 3.3 g/t gold from 93 m down hole,
Including 7 m at 7.3 g/t gold; and
46 m at 3.4 g/t gold from 172 m down hole; and
Including 6 m at 7.6 g/t gold (drill hole 205SD13).
Drill hole 205SD13 has extended the known high grade gold mineralisation down dip by up to 65 m in this part of the WRZ North zone and confirmed the continuity of the zone. Drill hole 206SD13 has extended the high grade gold mineralisation up dip.
Recent drilling has targeted extensions to known mineralisation and to provide better resource definition. Drill holes 205SD13 and 206SD13 are located in the WRZ North and targeted down dip extensions to high grade zones. Both high grade zones are within 150 metres of the surface of the hillside and are suitable for a rapid, low cost underground mining option, which would significantly improve the robust economics of Mt Kare.
Indochine completed an extensive drilling program in 2012 as part of the project pre-feasibility study, with recent drilling targeting high grade zones. An updated resource estimate, announced on 10 July, confirmed two high grade zones of 400,000 ounces at 5.4 g/t gold in 2.1 Mt, with a doubling of the Measured and Indicated resource category and an increase in the total resource to 2.1 Moz gold, 18 Moz silver (43 Mt @ 1.5 g/t Au, 13.5 g/t Ag) or 2.5 Moz gold equivalent.
205SD13 results (higher grade zones)
7 m at 7.3 g/t gold, and 32 g/t Ag from 104 m downhole;
3 m at 8.8 g/t gold, and 8 g/t Ag from 119 m downhole ;
3 m at 7.0 g/t gold, 20 g/t silver from 183 m downhole;
6 m at 7.6 g/t gold, 14 g/t silver from 210 m downhole;
3 m at 10.1 g/t gold, 21 g/t silver from 210 m downhole.
206SD13 results (higher grade zones)
14 m at 20.4 g/t gold, 42 g/t silver from surface;
Incl. 3 m at 88.9 g/t gold, 51 g/t silver.
3 m at 9.3 g/t gold, 230 g/t silver from 36 m downhole.
12 m at 6.1 g/t gold, 54 g/t silver from 81 m downhole.
Incl. 2 m at 11 g/t gold, 128 g/t silver
To View tabular and charts, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-IDC-745378.pdf
Contact
Indochine Mining Limited
T: +61-2-8246-7007
F: +61-2-8246-7005
WWW: www.indochinemining.com
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