Quarterly Activities Report 31 March 2019
Quarterly Activities Report 31 March 2019
Perth, April 29, 2019 AEST (ABN Newswire) - Intermin Resources Limited (ASX:IRC) ("Intermin" or the "Company") is pleased to provide the March 2019 Quarterly Activities Report. Intermin is a gold exploration and development company with a key focus in the Kalgoorlie region of Western Australia (see Figure 1 in link below) and has a number of joint ventures in place with quality partners covering multiple commodities in Western Australia and Queensland.

HIGHLIGHTS

- Intermin and MacPhersons' proposed combination through a Scheme of Arrangement progresses with the scheme booklet registered with ASIC and released to MacPhersons shareholders

- Independent Expert concludes the Scheme is in the best interests of MacPhersons shareholders with the scheme meeting to be held on 31 May 2019

- Exclusivity Deed signed with Focus Minerals Ltd for potential acquisition of the 2.1Moz Coolgardie gold project including the 1.2Mtpa processing plant

- Maiden independent Mineral Resource estimate released for Crake which stands at:

o 1.12Mt grading 1.59 g/t Au for 57,700oz at a 1.0g/t Au lower grade cut-off

- Over 69% in the Indicated Category with mineralisation open to the west and north

- Intermin's Total Mineral Resource grew to:

o 10.38Mt grading 2.00g/t Au for 667,500oz at a 1.0g/t Au lower grade cut-off

- Menzies and Goongarrie gold project areas returned to Intermin on a 100% basis

- Excellent drilling results received from the Lady Irene prospect, part of the Menzies project area

- Exploration drilling program commenced with an initial 11,000m planned at Binduli, Teal East, Olympia, Scotia and Windanya at Kalgoorlie and Lady Irene, Selkirk and regional targets at Menzies

- Janet Ivy Mining Royalty payments of A$0.50/t continue with A$56,000 received in the March Quarter and regular quarterly payments expected through FY2019

- Cash and tradeable securities of A$6.3 million

To view the full report with tables and figures, please visit:
http://abnnewswire.net/lnk/04567MQ3


About Horizon Minerals Limited

Horizon Minerals Ltd  Horizon Minerals Limited (ASX:HRZ) 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.

Horizon 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.

Horizon 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@horizonminerals.com.au

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



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Horizon Minerals Limited

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