Indochine Mining: Mt Kare gold project strikes chord with investors

摘要

International investors continue to support Indochine Mining's (ASX:IDC) development of the Mt Kare gold project in Papua New Guinea, as the company prepares to deliver the project pre-feasibility study (PFS).in the space of 14 months, Indochine has proved that a junior company can be successful in PNG, a country where most advanced projects and mines are operated by major miners, such as Barrick Gold Corp, Newcrest Mining Ltd and Xstrata.Indochine remains on target to deliver its PFS at Mt Kare by the end of September 2012, following discussions with the regulators and PNG's new government. The PFS will be based on Indochine's initial JORC-compliant mineral resource of 1.8Moz gold and 20Moz silver in 28.3Mt at 1.9g/t gold, with a high-grade zone of 700,000oz at 3.7g/t gold.