Indochine Mining Limited announced that it was working aggressively on its pre-feasibility study as it drilled targets destined to improve current resources levels at its Papua New Guinea property. The Australian listed company has three drill rigs in operation at present for this purpose.
Stephen Promnitz, the Chief Executive Officer of Indochine Mining said that they were entering an exciting period with considerable news flow anticipated over the next 9 months from drill results and from the PFS study.
He also said that the drilling, helicopter and camp support have improved greatly this month. The local community and residents have also pledged their support for the mining project that they have undertaken at the Mt Kare project.
Mt Kare is located 15 km away from Barrick Gold’s Porgera mine. The Porgera mine is considered to be one of the biggest gold mines in the world. Since Mt Kare has similar geology and structures to Porgera the company hopes that it will also have similar ore types. The potential for a large open cut mine at Mt Kare is being considered in the pre feasibility study.
Indochine Mining hopes that the already existing infrastructure in the region will make it an easy mine to develop. The company is a gold and copper exploration and development firm which has a world class property that it hopes to develop in Cambodia as well. In addition to the Papua New Guinea project it is exploring potential properties in Laos as well.