Miner: Mt Kare gold deposit shows potential

THE gold potential uncovered by Indochina Mining Ltd at Mt Kare from pre-feasibility studies has indicated a good production rate for the company.
Chief executive officer for Indochina Mining Ltd Stephen Promnitz said high grade gold extracts from studies have shown that the mine was capable of producing high grade gold and silver when production started in 2015.
“The basics of our project shows that we’ve got a robust gold and silver mine, relatively low strip ratio and open cut.
“It’s something that could make us a solid mid-tier gold producer on the ASX, producing 100,000 to 160,000 ounces a year,” Promnitz said.
“This is the sort of project that people want to see as a solid base case.”
The company is still awaiting other results from studies from 30 different holes at the project area, but has had consistent medium-to-high grades, including some very high grade outcomes from historical drillings of 60,000m.
Promnitz said when all go according to plan production would begin in the first-half of 2015 with the projected volume of gold and silver output per year.
“As we go through our feasibility study, we’ll be able to have a tighter hold on exactly what that will be, bringing some of the higher grades forward so that we can smooth that out because it very much depends on the grade.”
Promnitz also said the studies and extractions of the high grade and very high grade outputs were made possible with the assistance of the company’s investors.
He said the company appreciated their funding assistance for the project.