Intermin Resources Claims New Teal Project Gold Discovery

THE DRILL SERGEANT: Intermin Resources (ASX: IRC) claimed a new gold discovery from reverse circulation (RC) drilling being carried out on the company’s 100 per cent-owned Teal gold project, located 11 kilometres northwest of Kalgoorlie-Boulder in Western Australia.

Intermin Resources explained the drilling program is focussed on new discoveries and resource extensions at the company’s Teal, Anthill and Blister Dam projects.

As part of the program, 20,000 metres of RC and diamond drilling is underway for the Teal project area to grow the current resource base and test new discovery targets identified in the 2017 program.

Intermin has completed 26 holes for 3,156m to date testing high-priority new discovery targets, which has resulted in the discovery of a new prospect 200m east of Peyes Farm named Wills Find.

Wills Find returned promising gold mineralisation including:

18 metres at 2.69 grams per tonne gold from 96m, including 11m at 4g/t gold from 96m;

23m at 1.29g/t gold from 67m, including 10m at 2.13g/t gold from 78m; and

3m at 1.28g/t gold from 128m.

Further new mineralisation was identified 400m north west of Yolande and 250m west of Teal, also returning encouraging levels of gold mineralisation including:

4m at 2.6g/t gold from 54m.

Intermin Resources said the results confirm the presence of multiple parallel structures.

The company has extension drilling and testing of further new discovery targets ongoing.

“These latest drilling results provide further evidence of multiple parallel structures across the entire Teal project area and demonstrate the potential scale of the mineralised system,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“We are less than 20 per cent the way through our 55,000 metre drill program and look forward to testing the remaining new discovery targets and continuing with our resource growth program across 2018.”