Further High Grade Gold Mineralisation Intersected
Sydney, April 24, 2013 AEST (ABN Newswire) - Indochine Mining Limited (
ASX:IDC) is pleased to report further high-grade gold mineralisation from the first four drill holes targeting the Western Roscoelite Bonanza Zone (WRZ) at the company's 1.8 M oz Au Mt Kare Gold-Silver Project in Papua New Guinea.
The WRZ contains two of three Bonanza Zones that Indochine is exploring through a 3,000 metre diamond drilling programme at the project. High-grade assay results have been returned from the first four drill holes which continue to demonstrate the significant potential of the Bonanza Zones.
Highlights include 14 m at 15.3 g/t gold from 36 m down hole, including 7 m at 23 g/t gold.
The highest grade intercepted was 1 metre at 58 g/t gold.
Indochine's technical consultant Mr Tony Burgess commented: "The results are very encouraging as they help target the new drill holes at the possible location of the feeder zones to more bonanza targets. As exploration continues, these results again confirm that Mt Kare is a similar mineralised system to the nearby 28 million ounce Porgera gold mine."
Mineralisation occurs around small intrusive bodies in what is interpreted as the hanging wall of a steeply north dipping fault zone. The high grade (>70 grams x metres) mineralised zone (shown in Figure 2) has a vertical extent of around 50 metres. These results indicate more potential along strike of the fault, which is currently being drill tested.
Four holes were drilled at various angles towards the south to intersect the bonanza target identified in historical hole MK97-05 (20.5 m at 444 g/t gold, 164 g/t silver). Higher grade mineralisation is predicted to occur along a fault zone trending east-west.
Results indicate more potential along strike, on the interpreted intersection with another known mineralised fault, possibly with an associated 'feeder' zone. This target is being drill tested at present.
Best results:
14 m at 15.3 g/t gold, 9 g/t silver from 36 m down hole:
- Including 7 m at 22.9 g/t gold and 14 g/t silver
-- Including 1 m at 57.7 g/t gold and 19 g/t silver in Drill hole 188SD13.
26 m at 6.7 g/t gold, 5 g/t silver from 25 m down hole:
- Including 5 m at 10 g/t gold and 8 g/t silver
-- Including 7 m at 11.7 g/t gold, 7 g/t silver in Drill hole 187SD13.
15m at 5.7 g/t gold, 7 g/t silver from 20 m down hole:
- Within 33 m at 3.7 g/t gold, 16 g/t silver from 2 m down hole
- Including 8 m at 8.0 g/t gold, 6 g/t silver; and
-- Including 7 m at 11.7 g/t gold, 7 g/t silver in Drill hole 186SD13.
For the full release please visit:
http://media.abnnewswire.net/media/en/docs/ASX-IDC-731975.pdf
Contact
Indochine Mining Limited
T: +61-2-8246-7007
F: +61-2-8246-7005
WWW: www.indochinemining.com
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