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Intermin Resources announces update Mineral Resources grow

Mining News - Published on Fri, 21 Sep 2018

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Intermin Resources Limited, is an Australian based mining company, announced an updated Mineral Resource Estimate for the 100% owned Teal gold project area located 11km northwest of Kalgoorlie-Boulder in Western Australia.

- Highly successful new discovery and resource expansion drilling campaign completed at the Teal gold project area, 11km north-west of Kalgoorlie-Boulder in the Western Australian goldfields

- In total, 182 RC holes for 23,545m completed with the majority of the drilling focussed on resource growth at Teal, Jacques Find and Peyes Farm

- Independent Mineral Resource now compiled for the Teal Project area and, after depletion from mining Teal Stages 1 and 2, stands at:
4.25Mt @ 2.11g/t Au for 289,000 ounces at a 1.0g/t Au lower grade cut-off, up 80%

- Over 85% now in the Indicated Category with mineralisation open in all directions

- Intermin's Total Mineral Resource (after depletion) grows to:
8.40Mt @ 2.08g/t Au for 562,000oz at a 1.0g/t Au lower grade cut-off

- Next phase of drilling at Teal planned for the March Quarter 2019

- Mining studies commenced to assess optimal mining and processing pathways for oxide and transitional ore accessible by open cut mining

- New discovery and resource expansion drilling (14,000m) continues at the Anthill gold project with further drilling results and an updated Mineral Resource expected in the December Quarter

- Follow up drilling also underway at the Crake prospect, part of the Binduli project area with an additional 3,000m due for completion in the December Quarter

- First pass drilling (3,000m) at Coote, Darter and Honeyeater prospects at Binduli is also planned as part of the Binduli program

- A maiden Mineral Resource for the Crake prospect is expected in the March Quarter 2019

- A 14,000m new discovery program at the Blister Dam project is also planned to commence in the December Quarter

Mr Jon Price MD of Intermin said that "The Company commenced the self-funded AUD 4m, 55,000m drilling program in February this year and it has certainly delivered results. An 80% increase in resources at Teal at a $14/oz discovery cost is not only a testament to quality of the assets but also the exploration team who have worked tirelessly on target generation and project priorities. With a significant amount of drilling still ongoing at Anthill, Binduli and Blister Dam, the Company looks forward to releasing further results and resource updates as we move closer to achieving the significant 1 million ounce milestone."

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Posted By : Rabi Wangkhem on Fri, 21 Sep 2018
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