Indochine Mining (ASX:IDC) Commences Drilling of Bonanza Zones at Mt Kare Gold/Silver Project, PNG

RELATED QUOTES

SymbolPriceChange
IDC.AX0.068+0.0010

Sydney, Australia, Dec 11, 2012 - (ABN Newswire) - Indochine Mining (ASX:IDC.AX - News) drilling has commenced on Bonanza Gold Zones with prior results of more than 100 grams/tonne gold at Mt Kare Gold/Silver Project, PNG.

A two part drilling program is aimed to test quartz roscoelite mineralisation which is associated with bonanza gold grades. The close spaced drillholes are aimed to define the structural relationships, the grade and the extent of the quartz roscoelite mineralisation prior to extending the programme further.

The detailed characterisation of the bonanza zones has the potential to rapidly add ounces to the resource base and make a significant improvement to the currently robust economics of the project.

Initial drillholes are aimed at a breccia associated with a lithological contact at the Black Zone (BZ) and subsequently to investigate a similar quartz roscoelite association with known fault structures in the Western Roscoelite Zone (WRZ).

Quartz roscoelite mineralisation, in the appropriate structural setting, is responsible for spectacular gold grades in confined volumes as demonstrated by the bonanza grade Zone VII at the Porgera Gold Mine, 15 kilometres to NE, which contained 5.1 Million ounces gold at 27 g/t gold within a space approximately 500 m long by 90 m high by 40 m wide.

The first holes are in the BZ where prior assay results have included 17 metres at 100 grams/tonne gold, with the highest prior result of 1 metre at 1650 g/t gold associated with quartz roscoelite mineralization.

Holes will test two previous drill sites in the WRZ with intersections of 21.3 m at 458 grams per tonne (g/t) gold, 158 g/t silver and 12 m at 184 g/t gold, 74 g/t silver. Both holes appear to be associated with a major fault zone linking the WRZ and the C9 Pipe. Quartz roscoelite mineralization predominates within the C9 Pipe, a deep seated structure that appears to have acted as a conduit for the passage of quartz roscoelite gold-rich fluids to the surface.

The drill targets were identified following a comprehensive review by geological consultant, Tony Burgess, who was the Senior Resource Geologist and Competent Person for Resource Definition at the neighbouring Porgera mine during a period of prolific gold discovery. His view is that Mt Kare possesses several high grade zones with "bonanza gold occurrences" with "an identical signature to the 'bonanza' quartz roscoelite zones at Porgera".


About Indochine Mining Limited:

Indochine Mining Limited (ASX:IDC.AX - News) 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.

Contact:

 
Indochine Mining Limited
T: +61-2-8246-7007
F: +61-2-8246-7005
WWW: www.indochinemining.com
 

Source:

Indochine Mining Limited

Copyright (C) 2012 ABN Newswire. All rights reserved.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    0.9278-0.0009-0.10%
    AUDUSD=X
    0.5525-0.001-0.17%
    AUDGBP=X
    0.6706-0.0015-0.22%
    AUDEUR=X
  • Commodities
    Commodities
    NamePriceChange% Chg