Monday, July 30th 03:21 PM IST

Indochine Mining finds visible Gold at new prospect in PNG

# Indochine Mining  # ASX:IDC  # Gold  # Gold mining  

Australian gold mining company, Indochine Mining (ASX:IDC) has identified visible gold intermittently over 33 metres of drill core at its new prospect in Papua New Guinea (PNG).

SYDNEY(BullionStreet): Australian gold mining company, Indochine Mining (ASX:IDC) has identified visible gold intermittently over 33 metres of drill core at its new prospect in Papua New Guinea (PNG).

The prospect is located one kilometre south of the company's Mt Kare project, which currently hosts a JORC Resource of 1.8 million gold ounces at 1.9g/t, with a high grade zone of 700,000 gold ounces at 3.7g/t.

A potential new gold discovery has been made in the first new exploration drillhole. Fine grained disseminated visible gold has been identified over 33 metres of drillcore from 170 metres depth downhole and the hole is being extended.

The style of mineralisation, within a sheared siltstone/sandstone host, appears to differ from the currently identified resource to the north, although it is interpreted to occur in the same stratigraphic sequence.

The core will be prioritised for assay - with results expected in around two months.

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