Sydney, Feb 11, 2011 (ABN Newswire) - Indochine Mining Limited (ASX:IDC), which has the largest package of gold/ copper leases in Cambodia, is expanding its exploration program with a focus on its Kratie North project. The company has identified the potential for a gold mineralised system at Kratie North and a groundbased geophysics survey will be followed immediately by a drilling program.
"Our present focus is drill testing two Kratie North gold targets. These will be covered by a major ground geophysics (IP) program which will continue until the end of March 2011," said Indochine's CEO, Stephen Promnitz.
Reprocessing of airborne magnetic data has identified two anomalies or targets at Kratie North with coincident elevated gold-in-soil geochemical results. These anomalies are interpreted to be intrusives related to gold mineralisation. This setting for gold mineralisation was identified last year in drilling around an adjacent intrusive where veins were intersected with gold values of 1.2 metres at 7.8 grams/tonne gold and 1 metre at 8.6 grams/tonne gold. Wider, lower grade gold mineralised zones were identified including 9.5 metres at 1.1 grams/tonne gold.
Results from the IP geophysics program will aid the refinement of the drill targets which are planned to be drilled in April-May 2011 as soon as the geophysics is completed. Re-assaying of soil samples for other indicator elements will also assist the drill targeting. Access to the Kratie North Project has been reopened and the camp re-established, having been closed since the completion of the prior scout drilling program. Targets sought are large scale high grade vein gold deposits (like Pogo in Alaska >5Moz at 12 grams/tonne gold) and/or bulk mineable gold mineralisation with high grade veins.
At Indochine's other major project, Ratanakiri in northern Cambodia, results from a large helicopter supported sampling program are expected late in the March quarter 2011, to be followed by geophysics and stream/soil sampling during April-June, which will include the gold and copper targets already identified.
"Our present focus is drill testing two Kratie North gold targets. These will be covered by a major ground geophysics (IP) program which will continue until the end of March 2011," said Indochine's CEO, Stephen Promnitz.
Reprocessing of airborne magnetic data has identified two anomalies or targets at Kratie North with coincident elevated gold-in-soil geochemical results. These anomalies are interpreted to be intrusives related to gold mineralisation. This setting for gold mineralisation was identified last year in drilling around an adjacent intrusive where veins were intersected with gold values of 1.2 metres at 7.8 grams/tonne gold and 1 metre at 8.6 grams/tonne gold. Wider, lower grade gold mineralised zones were identified including 9.5 metres at 1.1 grams/tonne gold.
Results from the IP geophysics program will aid the refinement of the drill targets which are planned to be drilled in April-May 2011 as soon as the geophysics is completed. Re-assaying of soil samples for other indicator elements will also assist the drill targeting. Access to the Kratie North Project has been reopened and the camp re-established, having been closed since the completion of the prior scout drilling program. Targets sought are large scale high grade vein gold deposits (like Pogo in Alaska >5Moz at 12 grams/tonne gold) and/or bulk mineable gold mineralisation with high grade veins.
At Indochine's other major project, Ratanakiri in northern Cambodia, results from a large helicopter supported sampling program are expected late in the March quarter 2011, to be followed by geophysics and stream/soil sampling during April-June, which will include the gold and copper targets already identified.
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