Intermin hits deeper gold at Teal prospect

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THE DRILL SERGEANT: Intermin Resources has received assays for two deep cored holes recently drilled at the Teal prospect situated on the company’s Binduli north project, located 12 kilometres northwest of Kalgoorlie.

According to Intermin the drilling resulted in multiple intercepts of gold mineralisation at depths up to 300 metres from surface.

This is much deeper than the mineralisation the company had previously identified at the Teal prospect.

Highlights from the drilling include:

–    5 metres at 17.8 grams per tonne gold from 269 metres;

–    2m at 8.62g/t gold from 305m;

–    3m at 2.15g/t gold from 221m; and

–    4m at 2.66g/t gold from 230m.

The recent drilling was undertaken by Interim to test for extension of gold mineralisation at depth, to obtain information on the Teal ore body structure and to provide samples of Teal primary mineralisation for metallurgical testwork.

 

Source: Company announcement

The company said observation of stronger grade mineralisation is consistent with a near vertical shoot of mineralisation with a southerly plunge.

Intermin has paid a lot of attention to the Teal prospect in regard to exploration activity over the past three years.

Drilling has resulted in the definition of gold resources of approximately 100,000 ounces at Teal in the form of a supergene resource overlying primary mineralisation.

“Recent pit optimisation of the Teal resource suggests that a relatively low risk starter pit accessing principally soft oxide supergene mineralisation could be established and a pit design has been developed based on this scenario,” Intermin Resources said in its ASX announcement.

“Total mineralisation within the Stage 1 starter pit was estimated at 271,000 tonnes at 2.63 grams per tonne gold for a total of 22,888 ounces.”

Intermin said it was anticipating receiving approvals for the mining of the Teal supergene soon.

The company will make a final decision to mine upon receipt of these approvals and the conclusion of toll treatment arrangements currently being negotiated.