Indochine Mining's 2012 Drill Results Summary
Sydney, Mar 18, 2013 AEST (ABN Newswire) - Indochine Mining Limited (
ASX:IDC) is pleased to confirm that it has recently received results from the last of the 58 holes for the 2012 diamond drilling programme. This programme totalled for 7,790 metres of diamond drilling and achieved a number of key outcomes:
- Confirmation of historical high grades identified prior to Indochine's acquisition of the project;
- The grades are similar or higher than previous drill results;
- The results provide increased confidence in the resource potential;
- Recent bonanza results should increase total contained gold
- These results, and results from the current drilling programme targeting the bonanza zones, will underpin the reclassification of material from inferred to indicated and measured status.
Background
Indochine Mining acquired the Mt Kare project in PNG in 2011, and following a full data review, converted the existing Canadian N143-101 compliant resource to a JORC compliant resource. Due to the conversion between reporting jurisdictions, among others, a significant portion of the resource was classified as inferred in 2011, although the deposit contained 365 drill holes, with a drill spacing predominately at 30 m by 30 m.
The objectives of Indochine's 2012 drilling were to:
- Verify the results of historical drilling programmes across the resource zones;
- Provide data for a new geological model;
- Infill the resource drilling density, to support upgrading of inferred mineral resources to the higher confidence indicated and measured categories; and
- Provide samples for the metallurgy programme initiated by Indochine.
To view the full results, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-IDC-726391.pdf
Contact
Indochine Mining Limited
T: +61-2-8246-7007
F: +61-2-8246-7005
WWW: www.indochinemining.com
| ||
|
