IndoChine Mining has just released an update on their Mt Kare...

IndoChine Mining has just released an update on their Mt Kare Drilling Program.

The Xstrata team that joined IndoChine in November last year has been very busy, completing 47 drill holes to date of this announcement, with three more being worked on currently. A total of 6,000 metres being drilled. Previously they had only completed 29 drill holes.

We have only received drilling results on 3 drill holes, so plenty more to come in the weeks ahead to the PFS!

The drilling results below are the same two drill holes that were previously released in early May, but the areas of the holes which physically showed “lower grade” of mineralisation. Hence they were processed later.

These lower grade of mineralisation areas are still fantastic, when you compare it to any gold exploration drilling on the ASX.

Drill Hole 123SD11 we have an intercept of 46metres @ Ave 5.43grams/ton of Gold and 187grams/ton of Silver, and this is from a shallow depth of 50 metres!

This is the exciting phase! The Bankable Feasibility Study drilling will be finished in 2 weeks time! This was the reason IDC went to BlackRock and BakerSteel for the additional $8.25million last month to accelerate the BFS drilling program so they can begin applying for mining leases and to work out how to build the gold mine!

Again extraordinary results, especially since these are considered by IndoCHine Management to be the lower grades of gold and silver mineralisation!

Tuesday's Shareholder Meeting will be interesting to see if we get any more information about the progress of Mt Kare!

Cheers Nectar