THE BOURSE WHISPERER: Intermin Resources (ASX: IRC) has moved to consolidate tenure for the Yarmany gold project, 65 kilometres west of Kalgoorlie-Boulder in Western Australia.
Intermin Resources’ Yarmany project area comprises five granted tenements and five applications.
Of these, ELA15/1655 and ELA 16/510 are recent applications that cover newly available ground contiguous with the company’s 100 per cent-owned Yarmany and Area 54 prospects.
Intermin now claims to hold a dominant position overlying the Ida and Reptile Shear zones and covering over 320 square kilometres.
Previous geochemical work completed by earlier owners identified numerous anomalies, many of which Intermin is yet to follow up.
The Iguana – Jamaica and Lizard gold mines along strike of the company’s tenure were developed between 2000 and 2009 producing 68,000 ounces of gold grading three grams per tonne and have current resources of 201,000 ounces.
Intermin has commenced data compilation and target generation for drilling in early 2019 upon final granting of applications.
“The consolidation of the Yarmany tenure is in line with the company’s strategy of acquiring quality assets on major geological structures contiguous with existing landholding and in close proximity to supporting infrastructure,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.
“The area has had limited work completed in the last 20 years and was consolidated through pegging at very low cost.
“We see great opportunity for Yarmany to join Teal, Anthill and Blister Dam as a key growth project for Intermin in this world class gold producing region.”