Outstanding Drilling Results from the Anthill Gold Project
Outstanding Drilling Results from the Anthill Gold Project
Perth, Aug 21, 2018 AEST (ABN Newswire) - Intermin Resources Limited (ASX:IRC) ("Intermin" or the "Company") is pleased to announce reverse circulation ("RC") drilling results from the 100% owned Anthill gold project located 54km northwest of Kalgoorlie-Boulder in Western Australia. The project comprises granted Mining Lease M16/531 over Greenstone rocks situated within the highly prospective Zuleika Shear Zone, which hosts numerous high-grade gold deposits (see Figure 1 & 2 in link below).

HIGHLIGHTS

- Resource extension drilling commenced in June 2018 at the 100% owned Anthill gold project on the Zuleika Shear, 45km north-west of Kalgoorlie - Boulder in the Western Australian goldfields

- Current Mineral Resource (JORC 2012) stands at 1.42Mt @ 1.72g/t Au for 78,000oz Au at a 1 g/t cut off grade(see Note 1 below)

- Over 10,000m of RC drilling to a maximum depth of 200m now completed at Anthill as part of the self-funded 55,000m 2018 program

- Initial results received with significant mineralisation intercepted including(see Note 2 below):

o 81m @ 1.48g/t Au from 119m including 2m @ 11.90g/t Au from 132m and 15m @ 2.24g/t Au from 139m (AHRC18017)

o 26m @ 2.96g/t Au from 174m including 1m @ 17.9g/t Au from 194m (AHRC18018)

o 4m @ 15.5g/t Au from 56m (AHRC18057)(see Note 3 below)

o 15m @ 1.79g/t Au from 48m and 4m @ 1.91g/t Au from 80m (AHRC18004)

o 16m @ 1.32g/t Au and 24m @ 1.28g/t Au 56m (AHRC18069) (see Note 3 below)

o 20m @ 1.35g/t Au from 28m (AHRC18036) (see Note 3 below)

o 4m @ 7.65g/t Au from 52m (AHRC18068) (see Note 3 below)

o 3m @ 2.30g/t Au from 37m, 2m @ 2.79g/t Au from 48m, 20m @ 1.62g/t Au from 57m and 10m @ 1.27g/t Au from 81m (AHRC18002)

o 4m @ 1.36g/t Au from surface, 1m @ 2.23g/t Au from 43m, 1m @ 6.07g/t Au from 121m, 2m @ 7.08g/t Au from 130m and 10m @ 1.11g/t Au from 143m (AHRC18001)

- Initial drilling focussed on extending mineralisation beyond the current resource envelope to the north and south for open pit mine development studies

- Strike length at Anthill increased from 150m to over 350m and remains open in all directions

- A 4,000m follow up program and 1,000m regional new discovery program has now commenced with further results expected in the current September Quarter

- An updated Mineral Resource for Anthill is expected in the December Quarter

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

"These initial results from Anthill are now clearly demonstrating the potential scale and quality of the orebody that continues to grow with each drilling campaign and certainly justifies our belief that the Zuleika shear can deliver new large scale open cut and underground gold deposits."

"The Company will continue aggressive extension and new discovery drilling at Anthill and looks forward to releasing an updated resource and continuing mine development studies."

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, Binduli and Blister Dam gold projects.

Drilling at Anthill commenced in the June Quarter with 70 angled RC holes for approximately 10,000m now completed to an average depth of 140m and maximum depth of 200m. The drilling focussed initially on resource extensions to the north and south of the current resource envelope which contains a JORC 2012 Mineral Resource Estimate of 1.42Mt @ 1.72g/t Au for 78,000oz Au at a 1 g/t cut off grade(see Note 4 below).

The geology at Anthill is dominated by a variolitic basalt with lesser amounts of porphyry and ultramafic rocks observed. At least two mineralised trends are evident and add to the geological complexity at Anthill. The sequence sits within a synclinal structure. The gold mineralisation is pervasive and occurs in a number of settings, the most important being a quartz stock work or thin veins with carbonate-sericite-silica-sulphide alteration. Some of the gold is coarse and is easily visible in panned RC chips.

New high grade, mineralisation outside of the current resource envelope has now been discovered and is aligned with the dominant NW "Zuleika Shear" stratigraphy confirming drilling orientation and increasing strike length to the north and south by over 200m. Mineralisation remains open in all directions (see Figure 3 in link below).

To the north AHRC18001 (best result 2m @ 7.08g/t Au and 10m @ 1.11 g/t Au), AHRC18002 (best result 20m @ 1.62g/t Au and 10m @ 1.27g/t Au) and AHRC18004 (best result 15m @ 1.79g/t Au) all intersected significant mineralisation where historic holes were drilled at opposite angles or were drilled too shallow(see Note 5 below).

To the south, AHRC18068 (4m @ 7.65g/t Au), AHRC18057 (best result 4m @ 15.5g/t Au) and AHRC18069 (best result 16m @ 1.32g/t Au and 24m @ 1.28g/t Au) cover an additional 150m strike length(see Note 5 below). There is no drilling to the south of these intercepts and further step out drilling has commenced.

AHRC18017 (81m @ 1.48g/t Au) and AHRC18018 (best result 26m @ 2.96g/t Au) (see Note 5 below) were step out holes in the central core area of Anthill where high grade ore is consistently found to about 200m depth. The impressive 81m width on AHRC1801 is found within a deep zone of stockwork ore. Low grade mineralisation was noted on the adjacent sections (at >200m depth) which suggests that this stockwork emplacement is also possibly controlled by a SW/NE structure.

Cross sections (4 x 20m) in this area are shown in figures 4-7(see link below). They show a series of stacked lodes variably dipping to the north east.

Another step out hole AHRC18010 has been drilled directly behind AHRC18018 with results expected in the current September Quarter.

To the west of Anthill, several holes discovered up-dip mineralisation from one of the deeper (stacked) low grade lodes as defined by mostly historic drilling. AHRC18019 (best result 12m @ 1.17 g/t Au) and AHRC18023 (best result 5m @ 4.55 g/t Au and 9m @ 1.08 g/t Au)(see Note 5 below). Further drilling to the west is planned.

Next Steps

Given the excellent results from the initial drilling, Intermin plans to complete a further 4,000m of resource extension drilling with the aim of extending the strike length further to grow the mineralised envelope ahead of a resource update and open pit optimisation studies.

In addition, over 1,000m of drilling has commenced on high priority new discovery targets including Fire Ant (see Figure 2 in link below) testing for repeat structures along the Zuleika shear zone.

Further assay results are expected in the current September Quarter, an updated Mineral Resource estimate in the December Quarter and a development scoping study in the March Quarter 2019.

Notes:

1 as announced to the ASX on 13 March 2018,

2 see Table 1 on Page 8, Competent Persons Statements on Page 11, Forward Looking Statement on Page 12 and JORC Tables on Page 13

3 denotes 4m composites only with 1m split assays yet to be received

4 as announced to the ASX on 10 July 2018,

5 see Table 1 on Page 5, Competent Persons Statements on Page 7, Forward Looking Statement on Page 9 and JORC Tables on Page 10

To view tables and figures, please visit:
http://abnnewswire.net/lnk/IZWCV8M7


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



Related Companies

Intermin Resources Limited

ABN Newswire This Page Viewed:  (Last 7 Days: 51) (Last 30 Days: 998) 
ANALYTICS: LOGIN HERE

Intermin Resources Limited NEWS: RECENT VISITS (13168)

Research Report

Social Media