Logo of Phnom Penh Post newspaper Phnom Penh Post - Golden prospects

Golden prospects

Golden prospects

Indochine Mining Limited today claimed to have made a discovery of a “high grade” gold-bearing quartz vein at its Kratie North project.

Claiming its best result returned 42 grams of gold per tonne, the company said the Kratie North site was a key focus of its exploration programme, launched in February.

“A drill programme will commence in mid-April, initially for 2,000 metres of diamond drilling to test and observe the mineralised structures from the geophysics and geochemistry,” it said in a release on the Australian Stock Exchange.

It said it would follow up further results with more precise drilling.

The firm’s stock price climbed 7.14 percent in ASX trading today, ending the day at A$0.375 (US$0.378).

Meanwhile, Canadian exploration firm Shamika2Gold claimed to have acquired 85 percent of MIG International Mining Group on Tuesday.

It said MIG owns a gold and ruby exploration licence in Samlout district, Battambang province.

OZ Minerals Ltd, which is actively exploring in Cambodia, today agreed to buy Australia’s Carrapateena copper project for US$250 million in cash.

MOST VIEWED

  • Vietnam: Tougher sentences for child abusers

    Several National Assembly (NA) deputies in Vietnam are calling for tougher penalties to be handed down to child abusers. They hope stricter punishments will act as a strong deterrent to prevent offenders committing further offences in the future. Extreme measures such as chemical castration were

  • Central bank to shun small US banknotes

    The National Bank of Cambodia (NBC) is considering not accepting smaller denominated US dollar banknotes – $1, $2 and $5 – from banks and microfinance institutions (MFIs) which it said are flooding its stockpile as the demand for those notes is low. While some banking insiders welcomed the move as

  • PM lauded in Covid-19 fight

    World Health Organisation (WHO) director-general Tedros Adhanom Ghebreyesus sent a letter to Prime Minister Hun Sen thanking him for following the WHO’s guidance and commending Cambodia’s efforts in the fight against Covid-19. In his letter made public by the Ministry of Foreign Affairs

  • Workers return, hope for salaries

    More than 600 factory workers in the capital’s Chaom Chao commune in Por Sen Chey district returned to work after the factory’s owner promised to pay their salaries in instalments until the middle of next month. On Tuesday and Wednesday, more than 600 workers gathered

  • Women detained for forcing kids to beg

    Two women were sent to Phnom Penh Municipal Court on Thursday for forcing six children to beg for money for several months at the Chhouk Meas market in Krang Thnong commune in the capital’s Sen Sok district. Phnom Penh Department of Anti-human Trafficking and

  • Vietnamese tents baffle border guards

    Kandal and Takeo provincial authorities bordering Vietnam have expressed concern after witnessing irregularities by the Vietnamese authorities, including the deployment of soldiers to erect 114 camps just 30m from the border. Takeo provincial governor Ouch Phea told The Post on Thursday that Vietnamese soldiers had erected 83