Adelaide, May 5, 2006 AEST (ABN Newswire) - A second air core drilling rig has commenced operations at Indo Mines' (ASX: IDO) Yogyakarta Ironsands - Pig Iron Project to drill out the ironsands deposit to JORC status.
The start of exploration activities on the Project, which is located in Central Java on the south coast of Yogyakarta Province, Indonesia, follows the signing of a 16,000m drilling contract with drilling firm RB Drilling in late March.
The planned 1000 hole air core drilling program of the Ironsands deposit, which is now expected to be completed by July this year, will be funded by Indo Mines as part of it's earn-in requirement to acquire a 70% interest in the Project (PT Jogja Magasa Mining, Indo Mines' partner in the Project, will retain a 30% interest in the Project).
As reported in the Company's March Quarterly Report to ASX on 28 April 2006, the first air core rig has drilled to date 126 holes for a total of 2,072m. The air core drilling program is being positioned on 800m x 100m drill hole spacings and the first drilling rig was reported to be located on the 14th drill line, which is positioned approximately half way through the estimated 22km length of the ironsand deposit. Infill drilling will eventually take place once the wide spaced program is finished.
The Company has commissioned consulting geologists Mackay & Schnellmann to supervise the drilling program and to bring the deposit to JORC resource definition. Samples are being freighted to Australia to Perth based laboratory, ALS, which has been awarded the contract to assay up to 10,000 samples by XRF techniques.
An exploration base and office, central to the location of the Ironsands deposit, has been established at Kulong Progo, Yogyakarta, for Indo Mines and JMM. A team of geologists, technicians and field assistants has been employed to service the exploration base for the length of the drilling program and the planned resource definition program.
Subject to feasibility, the Ironsands deposit at Yogyakarta which is 22km long by up to 1.8km wide, will be used as the basis for the establishment of a liquid iron ("pig iron") making facility in the Yogyakarta Region to provide feedstock for major regional steel producers.
Source:
Kevin Skinner
Senior Consultant
FIELD PUBLIC RELATIONS
231 South Road
MILE END SA 5031
Tel: (08) 8234 9555
Fax: (08) 8234 9566
Mob: 0414 822 631
kevin@fieldpr.com.au
Contact
Zlad Sas
Telephone (+61 8) 9321 2933
Facsimile (+61 8) 9321 3616
Email: admin@indomines.com.au
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