Australian-listed Indochine Mining has started the first phase of a drill program of up to 10,000 metres at its Mt Kare gold/silver project in Papua New Guinea.
Mt Kare is potentially a two million ounce gold/silver deposit, very close to one of the world’s largest gold mines at Porgera.
Mt Kare has potential for a large open cut and underground mine, targeting 150,000 ounces/year.
The first stage of the program includes 2,000 metres of diamond drilling across the main ore body.
This is designed to intersect the various types of mineralisation present, enabling the process design stage of the Prefeasibility Study (PFS) to progress.
Indochine Chief Executive Officer Stephen Promnitz says, “this is an exciting period for the company in the development of our flagship Mt Kare gold project. Backed by an outstanding development team and solid funding, and with drill rigs on site, the next few months will be very active as we aggressively advance the project through the feasibility study phase.”
Indochine is also active in Cambodia and Laos.