Positive drilling results at Teal Stage 3 and Peyes Farm
- Infill and extension drilling completed at Teal Stage 3 as part of the mine expansion study
- Significant shallow high grade mineralisation intercepted including (see Note below):
o 6m @ 6.03g/t Au from 50m - TRC1710
o 5m @ 2.46g/t Au from 45m - TRC1709
o 2m @ 4.98g/t Au from 42m - TRC1718
o 5m @ 1.64g/t Au from 40m - TRC1701A
o 4m @ 2.34g/t Au from 41m - TRC1714
o 2m @ 3.77g/t Au from 40m - TRC1703
- Drilling successfully infilled and extended known oxide and transitional mineralisation south of the current Teal pit design (see Note below)
- Increased drill density now completed to define a 200m long mineralised extension above a 1.0g/t lower cut-off grade (see Note below)
- Updated Resource Estimate expected in the December Quarter
- One RC hole for 120m was completed at the Peyes Farm prospect which returned 13m @ 1.83 g/t from 83m downhole in PFRC1701. The Peyes Farm prospect remains open at depth and is geologically similar to the Teal deposit located 600m north along strike
- Historic holes located between Teal South and Peyes Farm have recorded significant mineralisation and will be followed up as part of a larger primary Resource growth strategy
- The focus along the prospective Teal-Peyes Farm corridor will be on deeper drilling to intersect mineralisation within the transitional and primary zones.
Commenting on the results, Intermin's Managing Director, Mr Jon Price said:
"The new Teal South drilling results demonstrate the potential for a Stage 3 extension up to 200m south of the Teal pit and we look forward to releasing the updated resource and Feasibility Study. Given our priorities bringing the new Goongarrie Lady project into production next year, completion of the Study into a Teal Stage 3 will be important step in delivering a continuous production profile.
"The initial result at Peyes Farm is quite significant as it demonstrates continuity of mineralisation and follow up programs are planned to link the mineralisation along strike and test depth extension across the entire 4km of strike."
"We believe the Teal gold camp to be a significant mineralised system with both continuity along strike and parallel structures to the east on the Jacques Find - Yolande trend. The primary sulphide mineralisation below the high grade free milling supergene zone will be a key focus for future programs in 2018. "
The drilling at Teal South was targeted to infill and extend known oxide and transitional mineralisation south of the current Teal pit and most holes intersected encouraging mineralisation which is interpreted to be a direct extension south to the mineralisation being mined at Teal (see Figure 2 in the link below).
A new orebody interpretation and updated Resource model is in the process of compilation followed by a pit optimisation study due for completion in the December Quarter. All gold assay results from the Teal South prospect have been received with drill hole collar details and significant downhole intervals included in Table 1 (see the link below).
At Peyes Farm a single RC hole was completed to test below a priority downhole intercept of 14m @ 5.10g/t Au from 55m in hole PFRC161211. New hole PFRC1701 was drilled to 120m depth and intersected 13m @ 1.83 g/t from 83m downhole which is interpreted as a relatively consistent result.
The primary mineralisation at depth within the Teal gold project has been determined to have semi-refractory metallurgical properties whereby the mineralisation requires roasting or ultra-fine grinding to maximise gold recovery. A number of third party processing options exist within economic haulage distance of the Teal project and the Company is actively pursuing discussions for a potential partnering solution.
Further drilling at depth is planned to commence in the December Quarter whereby priority primary targets will be tested at the Jacques Find prospect and along strike at the exciting Yolande prospect where a large IP anomaly could represent substantial undefined mineralisation.
Results will be released as they come to hand.
As announced to the ASX on 11 July 2017, see Table 1 on Page 4 and JORC Tables on Page 7, see also Competent Persons Statement on page 5 and Forward Looking and Cautionary Statement on page 7.
To view tables and figures, please visit:
About Intermin Resources Limited
Intermin Resources Limited (ASX:IRC) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.
Intermin is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.
Intermin has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.
Intermin Resources Limited