indochine mining hits heights in png minewatch

Hey IDC Holders

This isn't a significant event, but a positive article written in PNG about IndoCHine and Mt Kare.

As we get closer to the PFS completion and release, it will be the Funds that will lift our market cap that will better reflect the value of all the gold and silver in the ground at Mt Kare!

Again we see in the article the comparison between Mt Kare and the massive 28million ounce Porgera mine next door.

Cheers Nectar



Papua New Guinea Mine Watch


? Stevie Nion Marengo’s PNG country manager
July 24, 2012 · 5:07 pm
? Jump to Comments
Indochine Mining ‘hits heights in PNG’

Proactive Investors

Indochine Mining says it is currently discovering high grade gold in almost every drill hole from drilling at the company’s Mt Kare gold silver project in Papua New Guinea.

They say comparisons are odious, however intervals of almost an ounce per tonne gold are strikingly similar to the initial grades at the nearby highly controversial Porgera, one of the world’s Top 10 gold mines.

Porgera is a 28 million gold ounce mine and owned by Barrick Gold.

Highlights of drilling include; 53.9 metres at 8.2 grams per tonne (g/t) gold and 18g/t silver from 30 metres, including 13 metres at 29.0g/t gold and 19g/t silver; and 35 metres at 8.1g/t gold and 19g/t silver from 11 metres.

The importance of the continued flow of discoveries is that they provide the basis for the Pre-Feasibility Study due for completion at the end of August – with the public release towards the end of September after discussions with the regulatory authorities in Papua New Guinea.

Considering these intersections are just from the ninth and tenth drill holes – the results from an additional 40 holes are certainly highly anticipated – which will be delivered to the market in coming months.

These holes are part of a much broader campaign of over 400 diamond holes for around 67,000 metres, which has helped to delineate a JORC Resource of 28 million tonnes at 1.9g/t gold for 1.8 million ounces and 20 million silver ounces, with a higher grade zone of 3.7 g/t gold for 700,000 ounces.

Comparisons to Porgera, a 28Moz mine??

Barrick’s 28 million gold ounce Porgera mine is one of the tenth largest gold mines in the world, having produced 17 million ounces in the past 21 years.

Another plus for Indochine, is that Mt Kare is hosted in the same host rocks / ore types as Porgera.

http://ramumine.wordpress.com/2012/07/24/indochine-mining-hits-heights-in-png/