A drilling program begins this week on the Kratie North gold project, where gold bearing veins have been discovered by Indochine Mining Limited (
ASX:IDC) (Indochine), which has the largest package of gold/ copper leases in Cambodia.A series of targets have been selected for drilling at Kratie North based on 3-D modelling of recent geophysics merged with geochemical results and surface mapping.
A 2000 metre diamond drill program will initially test a geophysical IP target with a coincident gold-in-soil anomaly. A series of holes will be drilled along a 1 kilometre trend identified in geophysics which includes recently discovered multiple sets of gold-bearing quartz veins at surface which assayed up to 42 grams/tonne gold.
An ongoing IP geophysical survey will identify further drill targets over this area and two deeper magnetic targets further East. An enlarged infill RC drilling program will follow the initial diamond drilling program.
Commenting on the program, CEO Stephen Promnitz said, "Indochine has four years of on-the-ground experience in Cambodia and has been able to acquire very prospective leases. While there has been little systematic exploration previously in Cambodia, the region is well known for world class copper and gold discoveries."
"This drill program is a key step towards demonstrating the potential of our first gold discovery, Kratie North, where we seek high grade vein gold targets like the world class (5+Moz) Pogo mine in Alaska."
The exploration program is led by David Meade, who has over 15 years experience in senior technical roles including leading exploration teams throughout Southeast Asia for some of the most successful ASX-listed companies in the region including Oz Minerals (
ASX:OZL) (PINK:OZMLY) (Oxiana) and PanAust Limited (ASX:PNA).For the complete Indochine announcement including figures and maps, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/631785.pdf
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