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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:

PFRC18012
18 metres at 2.69 grams per tonne gold from 96m, including 11m at 4g/t gold from 96m;

PFRC1805
23m at 1.29g/t gold from 67m, including 10m at 2.13g/t gold from 78m; and

PFRC18013
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:

JFRC18012
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.”

 

Email: iadmin@intermin.com.au

Website: www.intermin.com.au

 

Intermin Resources Upgrades Guidance for Teal Gold Mine

THE BOURSE WHISPERER: Intermin Resources (ASX: IRC) released an update on recent activities at the company’s 100 per cent-owned Teal gold mine, located near Kalgoorlie-Boulder in Western Australia.

Intermin Resources completed pre-stripping at Teal Stage 2 in the December Quarter 2017, and hass since focused on completion of ore mining from both Stage 1 and Stage 2 of the pit.

The company explained that as the pit progressed to the end of the design life, additional ore was identified within and below the design and was mined out where possible.

In March this year, the final load of ore was hauled to the ROM pad and mine closure activities commenced.

In total, 230,000 tonnes of ore have been mined grading 3.2 grams per tonne for 23,500 ounces mined within a total volume of 2.21 million bank cubic metres (bcm).

The company said this compared favourably with the 203,000 tonnes grading 3.2g/t gold for 20,700 ounces mined within a total volume of 2.11 million bcm estimated in the Feasibility Studies for both stages.

Based on the additional tonnage, expected grade and improved recovery from the operation, Intermin Resources has increased production guidance to 21,000 to 22,000 ounces with an All In Cost of $1,000 to $1,100 per ounce.

Intermin completed a 17-day second ore processing campaign at the one million tonnes per annum Lakewood toll milling facility in February, from which full reconciliations have been compiled with 26,632 dry tonnes of ore milled at a final calculated head grade of 3.5g/t gold.

Plant metallurgical recovery exceeded expectations at 97.2 per cent producing 2,910 fine ounces of gold.

The average gold price received for the campaign was $1,684 per ounce, generating $4.9 million in gross revenue.

Intermin said the final milling campaign will be completed in March 2018 with expected treatment of approximately 50,000 tonnes of ore.

Final production and financial reconciliations are expected in the June Quarter.

“While the project has not been without its challenges, Teal has more than delivered on its promises and it is extremely pleasing to see the mine perform well against Feasibility Study estimates,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“The company is now in a strong position to fund an aggressive growth strategy.

“In 2018 this growth strategy means resource growth and new discoveries in one of the most productive goldfields in the world.

“We now look forward to delivering ongoing results from the 55,000 metres drill program underway and believe the key Anthill, Blister Dam and Teal project areas have the potential to deliver a significant step change for the business.”

 

Email: iadmin@intermin.com.au

Website: www.intermin.com.au

 

Intermin Resources Updates Anthill Gold Resource

THE DRILL SERGEANT: Intermin Resources (ASX: IRC) released an updated Mineral Resource Estimate for the company’s 100 per cent-owned Anthill gold project, located northwest of Kalgoorlie in Western Australia.

The JORC Code 2012- compliant Mineral Resource for Anthill now stands at 1.42 million tonnes at 1.72 grams per tonne gold for 78,000 ounces of gold (>1.0g/t Au lower grade cut-off).

Intermin Resources explained the update to th Resource stemmed from drilling completed in 2017.

This included diamond drillhole AHD1701, which the company said was drilled to validate the mineralisation model, examine the mineralisation and vein orientations and obtain samples for metallurgical and physical properties testing.

The results from this hole confirmed Intermin’s geological model whereby mineralisation consists of a discrete steeply plunging quartz stock work zone developed within a folded and altered pillow basalt unit within the Zuleika Shear.

Shallow downhole RC intercepts from the 2017 program included:

AHRC17027
41m at 2.63 grams per tonne gold from 69m;

AHRC17024
30m at 2.98g/t gold from 73m;

AHRC17039
11m at 3.72g/t gold from 46m ;

AHRC17035
29m at 1.84g/t gold from 49m;

AHRC17032
15m at 2.26g/t gold from 32m ;

AHRC17028
7m at 4.58g/t gold from 37m and 43m at 1.46g/t gold from 54m;

AHRC17031
19m at 2.22g/t gold from 39m and 27m at 2.17g/t gold from 98m;

AHRC17029
19m at 1.5g/t gold from 32m and 38m at 1.48g/t gold from 86m; and

AHRC17020
18m at 2.8g/t gold from 48m and 11m at 4.91g/t gold from 90m.

Deeper downhole RC intercepts included:

AHRC17043
17m at 5.37g/t gold from 137m;

AHRC17032
6m at 11.15g/t gold from 110m ; and

AHRC17039
11m at 6.22g/t gold from 157m and 3m at 6.48g/t gold from 187m.

“The successful drilling at Anthill in 2017 has confirmed the company’s geological interpretation and the initial Mineral Resource is an excellent base on which to grow the project,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“Intermin takes a very conservative and economic approach to resource estimation and typically applies higher cut-off grades as we commence initial development studies.

“We now look forward to the upcoming extensional and new discovery drill program planned for the June Quarter and believe Anthill and new targets identified within the project area have the potential to be a significant part of our future production pipeline.”

 

Email: iadmin@intermin.com.au

Website: www.intermin.com.au

 

Intermin Resources Conducting New Discovery and Resource Growth Drilling Program

THE DRILL SERGEANT: Intermin Resources (ASX: IRC) has kicked off a major discovery and Resource expansion drill program at the company’s 100 per cent-owned gold projects in the Kalgoorlie region of Western Australia.

Intermin Resources explained the drilling will be split approximately 50 per cent on new discovery and 50 per cent on resource growth.

The program will focus on three core project areas: Teal, Anthill and Blister Dam.

Resource expansion drilling at Teal, Jacques Find, Peyes Farm and Anthill will be testing extensions along strike and at depth outside current resource envelopes.

New discovery drilling at Blister Dam, Teal, Fire Ant and Anthill will be extended to target high-grade open cut and underground orebodies.

RC and diamond drilling will also be carried out to test beyond the limits of historic drilling.

“With the significant free cash flow that has been generated from our first mining project at Teal, our focus now turns to exploration success as we kick off the largest drill program in Intermin’s history,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“New discovery drilling comprises roughly half of the fully funded $4 million program with priority walk up targets on the prolific Zuleika Shear and Bardoc Tectonic Zone.

“The Western Australian goldfields is a world class gold producing region with significant discoveries still being made through modern systematic exploration and investment in deeper drilling.

“We look forward to the first drilling results and adding our own chapter to the rich mining history of the Western Australian Goldfields.”

 

Email: iadmin@intermin.com.au

Website: www.intermin.com.au

 

Intermin Resources Consolidâtes Kalgoorlie Ground

THE BOURSE WHISPERER: Intermin Resources (ASX: IRC) has consolidated its ground holding at the company’s Lakewood gold project, south east of Kalgoorlie-Boulder in Western Australia.

The Lakewood project currently comprises 42 prospecting licence applications and one exploration licence application with a total area of 115 square kilometres on the greenstone belt south of Kalgoorlie-Boulder’s Golden Mile and adjacent to the one million tonnes per annum Lakewood toll milling facility.

On final grant of the applications, which Intermin indicated it expects to eceive in the second half of 2018, the company’s 100 per cent-owned project area will increase to 472sqkm.

Intermin has commenced data compilation and initial drill targeting on several high quality targets identified that remain untested.

“We have been extremely fortunate to pick up such a large contiguous block of prospective greenstone belt in the heart of the Kalgoorlie goldfields which is consistent with our strategy of low cost acquisition of assets on major geological structures,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“Preliminary assessment has highlighted a number of high quality targets that remain untested and we look forward to commencing drilling on the project once the tenements have been granted.”

The company is currently mining and generating cash from its Teal gold mine, which it will use to soon commence a self-funded 50,000 to 60,000 metre new discovery and resource growth drilling program.

 

Email: iadmin@intermin.com.au

Website: www.intermin.com.au

Intermin Resources Pleased with First Pass Results from Blister Dam

THE DRILL SERGEANT: Intermin Resources (ASX: IRC) announced first pass drilling results from the company’s 100 per cent-owned Blister Dam gold project, located on the Zuleika and Kunanalling shear zones, north west of Kalgoorlie-Boulder in Western Australia.

Intermin Resources drilled 46 holes, to an average depth of 90 metres, at nine of 21 high-priority targets it had identified in 2017.

Five new prospects have been generated in the project area, including: Argo, Seven Seas, Syledis, Atlantic and Tasman, all located along the Zuleika shear zone.

High-grade RC downhole intercepts included:

Argo
BDRC17050
5 metres at 4.12 grams per tonne gold from 46m; and

BDRC17006
1m at 19.9g/t gold from 24m.

Seven Seas
BDRC17025
1m at 36.00g/t gold from 35m; and

BDRC17046
4m at 3.33g/t gold from 43m.

Syledis
BDRC17056
2m at 1.31g/t gold from 67m.

Tasman
BDRC17016
8m at 0.53g/t gold from 30m.

Intermin said the initial drilling had confirmed two distinct gold mineralisation styles: strongly developed high grade quartz veins and broader lower grade shear hosted gold mineralisation.

The company has designed the next phase of drilling at Blister Dam following a review of all results and further detailed geological assessment.

As part of a $4 million new discovery and resource growth program planned for 2018, over 7,000 metres of drilling has been allocated at Blister Dam in the first half of 2018 with up to an additional 7,000m as required in the second half of the year.

“With these excellent first pass results, Blister Dam has certainly staked its claim as one of the most exciting assets within our portfolio to deliver a significant new discovery,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“We now look forward to the large scale follow up program commencing shortly in an area on the Zuleika shear zone that has had very little modern exploration and remains virtually untested at depth.”

 

Email: iadmin@intermin.com.au

Website: www.intermin.com.au

Intermin Resources Looks to Consolidate on 2017 Exploration Results

THE BOURSE WHISPERER: Intermin Resources (ASX: IRC) released an update on exploration activities carried out across the company’s 100 per cent-owned gold projects located near Kalgoorlie-Boulder in Western Australia.

Intermin Resources completed over 26,000 metres of reverse circulation (RC) and diamond drilling during 2017 across eight key project areas on major gold bearing shear zones, including the Teal, Anthill and Blister Dam gold projects.

The company reported high-grade intercepts from the Teal gold camp, including:

26m at 7.8 grams per tonne gold from 48m and 16m at 5.3g/t gold from 86m (Jacques Find);

27m at 4.16g/t gold from 53m (Jacques Find);

8m at 11g/t gold from 53m and 9m at 7.1g/t gold from 89m (Jacques Find);

15m at 5.4g/t gold from 28m and 13m at 5.4g/t gold from 55m (Peyes Farm);

9m at 5.2g/t gold from 82m and 6m at 5g/t gold from 55m (Peyes Farm);

31m at 3.2g/t gold from 64m and 16m at 4.1g/t gold from 73m (Teal); and

11m at 7.8g/t gold from 51m and 15m at 4.2g/t gold from 130m (Teal).

Intermin indicated its focus for Teal in 2018 will be Resource extensions along two parallel strike zones and at depth and detailed metallurgical testwork to determine optimal processing pathways.

High-grade intercepts encountered at the Anthill gold project, included

41m at 2.63g/t gold from 69m and 30m at 2.98g/t gold from 73m;

11m at 3.72g/t gold from 46m and 29m at 1.84g/t gold from 49m; and

17m at 5.3g/t gold from 137m and 6m at 11.15g/t gold from 110m.

This year, Intermin will look for Resource extensions at Anthill in 2018 along strike and at depth while testing for repeat structures to the north at Fire Ant and to the east and west.

A maiden JORC 2012 Mineral Resource for Anthill is expected in the current March Quarter.

At Blister Dam, first pass drilling has been completed with results expected in February.

Intermin picked up a $60,000 EIS Government co-funding grant to drill recently defined induced polarisation targets at Blister Dam in 2018.

The company explained that follow up drilling at the Olympia, Baden Powell, Chadwin and Goongarrie Lady prospect will be completed in 2019 so it can focus on the core projects at Teal, Anthill and Blister Dam.

Preparations well advanced to commence a fully-funded $4 million drilling program in the current March Quarter.

“The past year has been one of significant growth for the company on the back of a highly successful exploration program, the generation of cash flow from the first stages of the Teal mining operation and a number of value accretive acquisitions and joint ventures,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“Intermin is now in a strong and quite unique position to be able to self-fund a larger Resource growth drilling program in 2018 with the focus on our key projects at the Teal gold camp, Anthill and Blister Dam with planning at an advanced stage for 50 to 60,000 metres of drilling to commence this Quarter.

“Our shareholders are very supportive of our strategy to grow our resource base above the one million ounce mark with an aggressive drill program and that is our key objective for 2018.

“We have done it before and we’ll be working very hard to do it again in what is a world class gold producing region.”

 

 

Email: iadmin@intermin.com.au

Website: www.intermin.com.au