Excellent Drilling Results from Jacques Find and Yolande
Excellent Drilling Results from Jacques Find and Yolande
Perth, April 18, 2018 AEST (ABN Newswire) - Intermin Resources Limited (ASX:IRC) ("Intermin" or the "Company") is pleased to announce further exciting reverse circulation ("RC") drilling results from the 100% owned Teal gold project, located 11km northwest of Kalgoorlie-Boulder in Western Australia (see Figure 1 in link below).

HIGHLIGHTS

- New discovery and resource growth drilling underway at the 100% owned Teal gold project area, 11km north-west of Kalgoorlie in the Western Australian goldfields

- 31 holes for 4,144m of infill and extension drilling completed to date at the Jacques Find and Yolande prospects as part of the 55,000m, 2018 program

- Significant high grade downhole RC intercepts at Jacques Find include (see Note 1 below):

o 8m @ 10.31 g/t Au from 123m including 5m @ 15.21 g/t from 123m (JFRC18039)

o 8m @ 5.70 g/t Au from 64m (JFRC18026)

o 3m @ 10.28 g/t Au from 102m ( JFRC18034)

o 6m @ 4.72 g/t Au from 54m and 6m @ 4.34 g/t Au from 42m (JFRC18038)

o 5m @ 1.26 g/t Au from 36m and 8m @ 1.60 g/t Au from 44m (JFRC18008)

o 9m @ 1.69 g/t Au from 34m (JFRC18037)

o 5m @ 1.81 g/t Au from 53m ( JFRC18028)

- Jacques Find strike length extended to over 500m with new areas of shallow oxide gold mineralisation intercepted

- Mineralisation remains open at depth and to the north

- Significant high grade downhole RC intercepts at Yolande include (see Note 1 below):

o 37m @ 2.16 g/t Au from 90m including 12m @ 2.51 g/t Au from 90m (JFRC18010)

o 9m @ 4.45 g/t Au from 118m (JFRC18010)

o 7m @ 2.12 g/t Au from 145m (JFRC18011)

o 3m @ 2.79 g/t Au from 124m and 1m @ 5.6 g/t Au from 136m (JFRC18011)

- Results from Yolande demonstrate potential for multiple parallel structures as part of a large mineralised system across the Teal project area

- Drilling continues 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 Binduli and Anthill planned to commence in June with results expected in the September Quarter 2018

Commenting on the first results of the large program, Intermin Managing Director Mr Jon Price said:

"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.

"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."

Overview

In February 2018 Intermin commenced a self-funded $4M, 55,000m drilling program across its 100% owned Kalgoorlie gold projects. The major drill program is focussed on new discoveries and resource extensions at the key Teal, Anthill and Blister Dam projects (see Note 2 below). 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 in the 2017 program (see Note 3 below).

Jacques Find

The geology at Jacques Find is dominated by Black Flag sediments (felsic volcanics and volcanoclastics) with lesser amounts of porphyry and intermediate volcanics. Fresh rock gold is typically associated with quartz and sulphides and faulting has displaced and pinched out some of the mineralisation. Primary mineralisation at depth exhibits semi-refractory properties and optimal recoveries are achieved through ultra-fine grinding, pressure oxidation or roasting. The shallow oxide supergene mineralisation is similar to the Teal gold mine where recoveries over 94% where achieved.

During 2016 and 2017, Intermin completed two highly successful RC programs (see Note 4 below) at the new Jacques Find discovery intercepting steeply dipping high grade gold shoots and extended the zone of mineralisation from 120m in 2016 to 400m length in 2017. The current 2018 resource program has focussed on infill drilling to improve geological confidence and extending mineralisation beyond the current resource envelope (see Figure 2 in link below).

To date, 31 RC holes have been completed for 4,144m to a maximum depth of 220m. The drilling has intercepted new zones of shallow oxide supergene mineralisation (see Figures 3 and 4 in link below) including 6m at 4.72g/t Au from 54m and 6m at 4.34g/t Au from 42m (hole JFRC18038), 8m at 1.60g/t Au from 44m (hole JFRC18008), 9m at 1.69g/t Au from 34m (hole JFRC18037), 5m at 1.81g/t Au from 53m (hole JFRC18028) and 4m at 1.88g/t Au from 52m (hole JFRC18032)(see Note 5 below).

Deeper mineralisation with excellent width and grades were also intercepted (see Figures 3 and 4 in link below) including 8m at 10.31g/t Au from 123m (including 5m at 15.21g/t Au from 123m) (hole JFRC18039), 8m at 5.7g/t Au from 64m (hole JFRC18026), 3m at 10.28g/t Au from 102m (hole JFRC18034) and 7m at 2.36g/t Au from 170m (hole JFRC18025) (see Note 5 below).

The successful drilling has resulted in an additional 100m of open ended gold mineralisation where JFRC18008 intercepted strong oxide mineralisation of 5m @ 1.26 g/t Au (36m) and 8m @ 1.6 g/t Au (44m) to the north. The mineralised trend at Jacques Find is now in excess of 500m in length and remains open to the north and at depth.

Yolande

At Yolande, three holes have been completed to follow up the initial 2017 result (see Note 4 below) (JFRC1709, 5m at 2.13 g/t Au and 5m at 3.49 g/t Au). Yolande appears to be either a jog/offset relative to Jacques Find or potentially a new separate ore zone. The recent results have defined broad zones of oxide mineralisation above deeper primary mineralisation and included 37m at 2.16g/t Au from 90m (including 12m at 2.51g/t Au from 90m) (hole JFRC18010), 9m at 4.45g/t Au from 118m (JFRC18010), 3m at 2.79g/t Au from 124m, 1m @ 5.6 g/t Au and 7m at 2.12g/t Au from 145m (hole JFRC18011) (see Note 6 below).

Next Steps

Drilling is continuing at the Teal project area testing additional new discovery targets, stepping out from the latest drill lines and completing further infill to improve the quality of the resources. Results from the ongoing drilling are expected in coming weeks.


Notes:

1 See Table 1 on Page 6, Competent Persons Statements on Page 8, Forward Looking Statement on Page 9 and JORC Tables on Page 10

2 As announced to the ASX on 19 February 2018

3 As announced to the ASX on 16 January 2018

4 As announced to the ASX on 29 November 2016, 15 and 29 November 2018 and 7 December 2017

5 See Table 1 on Page 6, Competent Persons Statements on Page 8, Forward Looking Statement on Page 9 and JORC Tables on Page 10

6 See Table 1 on Page 4, Competent Persons Statements on Page 6 and JORC Tables on Page 8

To view tables and figures, please visit:
http://abnnewswire.net/lnk/89V01KRK


About Intermin Resources Limited

Intermin Resources Ltd ASX IRCIntermin 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.

 


Contact

Jon Price
Managing Director
Tel: +61-8-9386-9534
E: jon.price@intermin.com.au

Michael Vaughan
Media Relations - Fivemark Partners
Tel: +61-422-602-720
E: michael.vaughan@fivemark.com.au



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