Self Funding the Search for Australia's Next Gold DiscoveryPerth, Sep 11, 2017 AEST (ABN Newswire) - Intermin Resources Limited (ASX:IRC) provides the Company's Investor Presentation at North American Roadshow.
- High quality landholding in the Goldfields of Western Australia
- Strong leadership with extensive WA gold mining and exploration experience
- Growth strategy centered on discovery and resource expansion through exploration
- Generating near-term cash by developing gold projects via third party infrastructure
- More than $12M banked since May with robust 2017 and 2018 mining project pipeline
- Largest ever drill program commenced for FY18 -50% targeting new discoveries
- Pursuing regional consolidation opportunities of high potential exploration assets
- Joint ventures for multi-commodity non-core projects with quality partners
- Quality gold assets in the heart of the WA goldfields
- 100% ownership of 380km2 on Bardoc, Abattoir and Zuleika shear zones in close proximity to Kalgoorlie
- 180km2 acquired in last 12 months
- Limited modern exploration in last 20 years
- Walk up drill targets for new discovery exploration
- Existing JORC 2012 Resource of 356,000oz grading 2.24g/t
- Comprehensive regional geological data base
- Assets close to existing third party milling infrastructure
- Strategic joint ventures in place at no cost to Intermin
Major FY18 Drill Program 50% complete
- Largest ever drill program of 32,000m for FY18 -50% of drilling budget on greenfields targets
- Targeting based on results of recent drill campaigns and six month review of geological, geochemical, geophysical and historic databases
- Program to target the Anthill project acquired in March 2017 -upgrading and extending quoted 160,000oz resource - Initial diamond hole result of 105m at 1.38g/t Au including 42m at 2.35g/t
- Substantial 6,700m new discovery program at Blister Dam/New Mexico testing 21 targets including historic drill hits of 9m at 3.43g/t Au
- First pass drilling of Bardoc, Black Flag and Janet Ivy South targets. Recent hit at Baden Powell of 17m at 3g/t Au
- Funding and flexibility to rapidly expand programs following strong results
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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