Indochine Mining has announced that the company has encountered high-grade gold and silver intercepts at Mt Kare in Papua New Guinea. The company has found significant high grade silver and gold assays from the mineralized zones present in additional three drill holes.
The company encountered 100.3 g/t gold and 134 g/t silver over 17.7 m, 420 g/t gold and 170 g/t silver over 4 m in hole 122SD11. Previously, Indochine intersected 7.2g/t gold over 34 m in MK98-132, 3.1 g/t gold and 4.3 g/t silver over 27 m, 6.5 g/t gold and 7.8 g/t silver over 7 m in hole 125SD12, 3.9 g/t gold and 20g/t silver over 16.9 m, 7.5 g/t gold and 21 g/t silver over 8 m, 50 g/t gold over 1 m in hole 127SD12.
The assays of more than 25 holes are pending and will be announced once available. The drill holes’ presently unsampled parts have low priority, and may contain low mineralization.
The company specifically designed this drill hole 122SD11 to duplicate a previous hole, MK98-132, for carrying out a metallurgical test work. The holes 125SD12 and 127SD12 were discovered in the mineralized zone for conducting the pre-feasibility study (PFS), which was planned to complete during August 2012. The company did not obtain any additional significant results from hole 123SD11, wherein 6.2 g/t gold and 232 g/t silver over 36.4 m were encountered .
Mt Kare contains large and high-grade open cut mine. Current drill program is expected to increase the present resource and to enhance the quality.
Source: http://www.indochinemining.com/