Logo of Phnom Penh Post newspaper Phnom Penh Post - Indochine announces positive gold results

Indochine announces positive gold results

Indochine announces positive gold results

AUSTRALIAN miner Indochine Mining Ltd yesterday announced initial results for its Kratie North concession that management described as largely positive for the company.

“That’s not to say we’ve discovered a huge deposit yet, but they are an encouraging start,” Indochine Chief Executive Officer Stephen Promnitz told The Post yesterday.

Initial results from the first of 16 holes in the area returned 0.3 grams per tonne gold extending over 200 metres with 0.5 grams to 2.6 grams per tonne gold at a number of 1 metre to 2 metres intervals, a company statement said.  Promnitz said further drilling results from all 16 holes, which are expected soon, may indicate a deposit or one nearby given the strong indications so far.

“It’s pretty unusual to get these sorts of results in your first hole.”

He pointed to large-scale gold and copper deposits in neighbouring countries, and said the fact Cambodia is still largely unexplored shows “the potential to find large deposits is still great”.

“I actually think the promise for the mineral industry in Cambodia is substantial, and that’s why we’re here,” he said.

Richard Stanger, president of the Cambodian Association of Mining and Exploration Companies, called Indochine’s initial results “promising”.

“Two hundred metres at 0.3 gpt ending in mineralisation certainly indicates the possibility of a larger-scale system there,” he said.

MOST VIEWED

  • Hun Sen’s China visit ‘a good opportunity’

    Prime Minister Hun Sen’s visit to Beijing on Sunday to discuss economic and trade issues presents a good opportunity for the Kingdom to strengthen Chinese ties and counter punitive measures by the West, an analyst says. The prime minister’s four-day official visit to

  • Former chief bodyguard receives royal pardon

    The former chief bodyguard of late Senate president Chea Sim has received a royal pardon nearly eight years after he was sentenced to 15 years behind bars on several charges, according to a royal decree dated November 12, last year, and obtained by The Post on Wednesday.

  • Close to the edge: Hair raising pictures from Kulen Mountain

    A new hair raising attraction on Kulen Mountain has finally opened to the public, with people flocking to the protruding cliff edge overlooking green mountainous forests to take photographs. The giant overhanging rock is situated in an area known as Mahendraparvata – an ancient city of

  • US warned not to interfere despite successful meeting

    A senior Ministry of National Defence official said the Tuesday meeting between the US Deputy Assistant Secretary of Defence for South and Southeast Asia Joseph H Felter and General Neang Phat had helped strengthen relations between the two countries’ militaries. However, a senior Cambodian People’