Quarterly Activities Report 30 September 2017
- Ore mined / sold from Teal Stage 1 totalled 56,353t grading 3.51g/t for 6,351 ounces (see Note 1 below) at a C1 cost of $867/oz and an AIC of $1,193/oz (see Note 2 below) produced at 94% recovery
- $9.2 million received from gold sales at an average gold price received of $1,627/oz (see Note 1 below)
- Teal Stage 2 pre-strip commenced on schedule with 63,690bcm mined during the Quarter
- Cash and tradeable securities increase to $7.4 million
- Production guidance for both stages of 18,000 - 20,000 ounces maintained at All in Costs (AIC) of $1,030 - $1,100/oz with completion expected in the March Quarter 2018 (see Note 3 below)
- 6,280m drilled at the Goongarrie Lady gold project with the open pit Feasibility Study on track for completion in the March Quarter 2018
- 32,000m exploration program on schedule with excellent results received to date
- Diamond drilling at the Anthill prospect confirmed new geological interpretation and returned a broad downhole intercept of 105m @ 1.38g/t Au from 48m (including 41m @ 2.35g/t Au from 73m) (see Note 4 below)
- RC drilling at the Baden Powell prospect returned a high grade downhole intercept of 17m @ 3.00g/t Au from 104m (including 7m @ 5.95g/t Au from 111m) (see Note 5 below)
- First pass aircore drilling at the new Olympia prospect intersected highly encouraging quartz-sulphide related and supergene gold up to 1.4g/t Au (see Note 6 below)
- Drilling at the Nanadie Well JV (Mithril Resources: MTH) returned an encouraging intercept of 127.75m @ 0.40% Cu, 0.11g/t Au from 43m (including 4.90m @ 1.80% Cu, 0.25g/t Au from 88m) (see Note 5 below) at Stark and 4m @ 12.76g/t Au from 20m at the Kombi gold prospect (see Note 7 below)
- Exploration preparations well advanced for JV partner Evolution Mining Limited (ASX:EVN) to conduct up to 3,600m of RC drilling at the Binduli gold project in the current Quarter
- Richmond vanadium project JV Agreement complete and initial bulk samples collected for dispatch to research institutes in China for detailed metallurgical testwork (see Note 8 below)
- Potential for Intermin to receive royalty payments of $0.50/t of ore mined and treated from the Janet Ivy gold mine in the current financial year
1 Includes actual and provisional data in accordance with the Ore Sale Agreement announced to the ASX on 27 July 2016.
2 AIC includes production, exploration and all overheads.
3 As announced to the ASX on 6 & 25 July 2016
4 As announced to the ASX on 1 July and 30 August June 2017,
5 As announced to the ASX on 11 July and 29 August 2017,
6 As announced to the ASX on 1 August 2017,
7 As announced to the 13 September and 13 October 2017,
8 As announced to the 20 September 2017.
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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 Stage 1 gold mine is currently in production.
Intermin is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core projects and build a sustainable development pipeline.
Intermin is targeting the definition of significant high grade open cut and underground gold deposits, has acquired highly prospective tenure and will continue to actively pursue consolidation and value-adding joint venture opportunities for the benefit of all stakeholders.
Intermin Resources Limited
Evolution Mining Limited