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Intermin Resources Ltd.
Summary
| Project: | Teal | |
|---|---|---|
| Deposit: | Teal | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 3/22/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-3-2017: Intermin Resources Ltd. announces a Resource Estimation report for its Teal deposit at the Teal project. Mineral Resource Estimate increased by 120% at Teal Mining Centre. Intermin Resources Limited (ASX: IRC) (“Intermin” or the “Company”) is p | |
| Resources: | (Resource, Total): 2.263Mt @ 2.19g/t Au for 159390oz Au contained at Teal Centre | |
| CP/QP: | [Resources]: Simon Coxhell, David O'Farrell, Andrew Hawker (Not stated) | |
| ABSTRACT: | Intermin Resources Limited (ASX: IRC) (“Intermin” or the “Company”) is pleased to announce an updated Mineral Resource Estimate for the 100% owned Teal gold project area located 11km north of Kalgoorlie-Boulder in Western Australia (Figures 1 and 2). The new estimate is compliant with the JORC 2012 Code and has been updated to include recent infill and extensional reverse circulation (“RC”) and diamond drilling results. Commenting on the Resource update Intermin’s Managing Director, Mr Jon Price said: “The 2016 drilling programs have delivered excellent results and we are extremely pleased to see these converted into increased Resources at a very competitive discovery cost of <$10/oz. Teal is becoming a very exciting new mining precinct only 11km north of Kalgoorlie-Boulder. “We now look forward to expanding these Resources further along strike and at depth and completing mining studies to bring these projects into our production pipeline.” Gold mineralisation at the Teal deposit comprises a well-defined supergene blanket located above shears and quartz within structurally controlled felsic schists, tuffs and porphyry rocks at depth. Oxide and transitional mineralisation within the Resource is currently being open pit mined to recover an initial Ore Reserve of 17,723 ounces2 . Mineralisation at Teal, Peyes Farm and Jacques Find is interpreted to occur in similar geological settings along strike and in parallel primary lodes and are open in all directions. The combined Resource is significant and has now been defined to occur for over 2km in strike length and to a maximum vertical depth of 250m in some zones. The large areal extent of mineralisation, the presence of multiple parallel lodes and high grades suggest there is potential to define a significantly larger open pit or underground Resource with further drilling. | |
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