Indo Gold is expected to list on London"s Alternative Investment Market and plans to raise Aus$10 million for its projects in India.

Indo Gold Mines is drilling the Jagpura project in Rajasthan with the main targets at Bhukia, including the Mahi and Panch Mahuri zones in where a JORC-compliant resource of 1,740,000 ounces of gold up to 150 metres below surface has been delineated.

Indo Gold Mines which has a 70% holding the project is in joint venture with Metals Mining India, a private Indian company.

Golder Associates has conducted an independent report on the Mahi Zone which indicates a resource of 24 million tonnes grading 1.3 grams per tonne for a contained 1 million ounces and more resource is possible from deeper drilling.

Indo Gold Mines plans to undertake a 12,000 metre drill program starting either later this year or early next year, to upgrade its project resource and plans to undertake a full feasibility in 2008.

The company is waiting to have its prospecting licence granted and has been operating under a reconnaissance permit to date.
At the Panch Mahuri Zone a resource is currently being estimated. Metallurgical test work on the Bhukia deposits has indicated high sulphide mineralisation, predominantly pyrrhotite but understood not to be metallurgically refractory.

The Jagpura property represents an exciting and emerging new gold district that has attributes allowing comparisons with other major, Proterozoic gold provinces around the world such as Telfer in Western Australia, Homestake in the USA and Pilgrims Rest in South Africa.