Intermin Resources Hits Immediate Results at Teal Gold Project

THE DRILL SERGEANT: Intermin Resources (ASX: IRC) released results from reverse circulation (RC) being carried out on the company’s 100 per cent-owned Teal gold project, northwest of Kalgoorlie-Boulder in Western Australia.

Intermin Resources is conducting the self-funded $4 million, 55,000 metres drilling program across its Kalgoorlie gold projects focussed on new discoveries and resource extensions at the key Teal, Anthill and Blister Dam projects.

As part of the program, 20,000m of RC and diamond drilling is planned for the Teal project area to grow the current Resource base and test new discovery targets identified by the company’s 2017 program.

Intermin has completed 31 holes of infill and extension drilling to date at the Jacques Find and Yolande prospects.

High-grade downhole RC intercepts at Jacques Find include:

8m at 10.31 grams per tonne gold from 123m including 5m at 15.21g/t from gold 123m;

8m at 5.7g/t gold from 64m;

3m at 10.28g/t gold from 102m;

6m at 4.72g/t gold from 54m and 6m at 4.34 g/t gold from 42m;

5m at 1.26g/t gold from 36m and 8m at 1.60 g/t gold from 44m;

9m at 1.69g/t gold from 34m; and

5m at 1.81g/t gold from 53m.

The drilling has extended the Jacques Find strike length to over 500m intercepting new areas of hallow oxide gold mineralisation with mineralisation remaining open at depth and to the north.

High-grade downhole RC intercepts at Yolande include:

37m at 2.16g/t gold from 90m including 12m at 2.51g/t gold from 90m;

9m at 4.45g/t gold from 118m;

7m at 2.12g/t gold from 145m; and

3m at 2.79g/t gold from 124m and 1m at 5.6g/t gold from 136m.

Intermin said the results from Yolande demonstrate potential for multiple parallel structures as part of a large mineralised system across the Teal project area.

The company has drilling continuing with two RC rigs on site to complete the 20,000m Teal program in the June Quarter with further results expected in coming weeks.

Drilling at the Binduli and Anthill prospects is planned to commence in June with results expected in the September Quarter 2018.

“These latest drilling results further demonstrate the potential scale and quality within the Teal project area and certainly justifies the priority placed on this large mineralised system just 15 minutes’ drive from the city of Kalgoorlie-Boulder,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“The ongoing drilling program at Teal will test the full extent of this system to add free milling oxide to our production profile and determine the scale of the deeper, higher grade, primary sulphide mineralisation to enable assessment of future development options.”