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Intermin Resources Ltd.
Summary
| Project: | Binduli | |
|---|---|---|
| Deposit: | Crake, Coote, Teal East | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/25/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-6-2019: Intermin Resources Ltd. announces an Exploration/Drilling Update report for its Crake, Coote, Teal East deposit at the Binduli project. Drilling results incl. 12m @ 4.19g/t Au from 76m. Intermin Resources Limited (ASX: IRC) (“Intermin” or the “ | |
| Resources: | (Resource, I+I): 1.12Mt @ 1.59g/t Au | |
| CP/QP: | [Overall Report]: David O’Farrell (Internal) | |
| ABSTRACT: | Intermin Resources Limited (ASX: IRC) (“Intermin” or the “Company”) is pleased to announce further excellent reverse circulation (“RC”) drilling results from the 100% owned Binduli gold project area located 9km west of Kalgoorlie Boulder in the heart of the Western Australian goldfields (Figure 1). In 2018, Intermin commenced drilling at the historic Crake prospect where previous work had located encouraging gold mineralisation within a porphyry host rock. The drilling totalled 85 RC holes for 8,096m, and produced an initial Mineral Resource estimate of 1.12Mt @ 1.59 g/t Au for 57,700oz at a 1g/t lower grade cut-off1 . An independent first pass mine optimisation of the resource showed positive results and highlighted areas where further drilling could improve geological confidence and extend the mineralisation. In May Intermin commenced a 25-hole (2,550m) RC program designed to infill and build on the resource base and test selected areas for deeper ore at Crake (Figure 2). 4m composite assays are still pending from 10 holes with final results expected in the September Quarter 2019. The geology at Crake is similar to the 390,000oz Janet Ivy open pit, located approximately 1,500m to the south, where the gold is hosted in a structurally controlled feldspar porphyry. At the nearby Fort William and Fort Scott open pits, where over 100,000oz have been produced to date, gold is hosted within sheared units of volcanics and clastic sediments. At Crake, the gold mineralisation strikes NW and dips shallowly to the SW. A poorly developed southern plunge is tentatively interpreted. The gold lodes are often tabular shaped and 20m thick but can blow out to >60m width. High grade shoots appear to results from intersecting structures. The Crake drilling focussed on a mineralised, variably altered pink porphyry with minor amounts of pyrite and magnetite. Higher grades usually coincide with stronger pyrite mineralisation (up to 3% by volume). | |
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