idc - new gold target found after 1.9moz gold!

Hey Guys

I just found this article last night which was released after the 1.9 million ounce equivalent gold resource (made up of 1.7million ounces of Gold and 200,000 ounces of Equivalent Silver) was announced in June 2007.

Before Buffalo/Madison went bankrupt due to the GFC in the following year, it looks like they might have found an additional gold area which is approx 400metres wide, 300 metres deep and is 250 long.

Their geologists at the time believed that they have found the mineralisation which is responsible for the gold in Mt Kare and could increase the total resource.

Now remember in 2008 the price of gold was $450 per ounce!

IndoChine would have all these drilling and electromagnetic results at their disposal which would enable them to better target new drilling programs that didn't happen under Buffalo/Madison before the GFC forced them into administration.

Now that an initial 2.1million ounce resource has been measured and converted to JORC IDC can begin drilling in these high grade areas to increase this resource over the next 12 months!

Cheers Nectar

Additional Updates

Mt. Kare Project

Buffalo recently completed a 21.7 line kilometre Induced Polarization
(IP) survey over the southern extension of the Mt. Kare gold deposit.
The survey, carried out by Elliot Geophysics International, followed
up on previous work which outlined a broad IP response over the known
mineralized zones, open-ended to the south. Elliott employed a
different dipole configuration and more powerful transmitter compared
to the previous survey, providing good quality readings and increased
depth penetration. Modelling of the new data by GeoDiscovery Group,
Brisbane indicates that a +/- 400 metre wide, 300 metre deep, strong
chargeability anomaly extends southward for at least 250 metres
beyond the most southerly line of drilling on Mt. Kare. The anomaly
is interpreted as being in response to sulphide mineralization and
defines a previously untested portion of the Mt. Kare gold-bearing
epithermal system. This new anomaly is being reviewed to define drill
targets and has the potential to add incremental ounces to the
existing resource of 1.7 million ounces gold(i).


http://www.ukwire.co.uk/Article.aspx?id=20080319131500H2265