Indochine Mining scores positive results from Mt Kare

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THE DRILL SERGEANT: Indochine Mining (ASX: IDC) has received assay results from six drill holes totalling 706 metres from an ongoing 1,300 metre drilling program at the company’s Mt Kare precious metals project in Papua New Guinea.

Indochine said the drilling has confirmed the targets host bonanza type mineralisation, with the results being the first it has received from what has been designated as the Black Zone.

 

Mt Kare geological map, showing the location of the Black Zone. Source: Company announcement

 

“These are very encouraging drilling results and confirm the fact that there is significant unlocked value in the previously identified bonanza zones at Mt Kare,” Indochine Mining non‐executive chairman Ian Ross said in the company’s announcement to the Australian Securities Exchange.

“Importantly, these results confirm the technical findings and interpretations of our highly experienced consulting geologist, Tony Burgess, who for 10 years was the Senior Resource geologist at the nearby world‐class Porgera gold mine owned by Barrick Gold.

“Particularly noteworthy is the fact that Mr. Burgess is very encouraged about the potential to discover more high grade gold, beneath the known mineralisation.

“This provides Indochine with further confidence that Mt. Kare is shaping up to be world‐class deposit.”

According to Indochine the drilling has confirmed bonanza type mineralisation, which had been previously intersected by earlier drilling conducted by the company.

Recent holes were drilled to test the extent of mineralisation to the NE and for extensions to the SW of the bonanza grades.

Other holes targeted the zone between the two bonanza grade intersections.

Best results from the recent work include:

–    49 metres at 22.3 grams per tonne gold, 71 grams per tonne silver from 63 metres downhole, including 21 metres at 33.8 grams per tonne gold, 64 grams per tonne silver, 8 metres 73 grams per tonne gold and 75 grams per tonne silver, including 5 metres at 105 grams per tonne gold, greater than 100 grams per tonne silver;

–    21m at 13.6g/t gold, 144g/t silver from 61 m downhole, within 29.9m at 9.6g/t gold, 55g/t silver from 61m downhole, including 7m at 35.2g/t gold, 83g/t silver; and

–    21m at 5.8g/t gold, 70g/t silver from 64m downhole, including 8m at 10.4g/t gold, and 54g/t sliver, including 1m at 22.8g/t gold, 26g/t silver.

“The Black Zone bonanza holes have returned some excellent intersections, as well as solid intervals of four to five grams per tonne gold mineralisation,” Indochine Mining chief executive officer Stephen Promnitz added to the announcement.

“Collectively, these results underpin the robust nature of the Mt Kare project.

“It is important to note that these results are from only one of the bonanza zone targets identified by the company.”