Intermin Resources (ASX: IRC) Update on Teal Operations

KEY TAKEAWAYS:

• The haulage of the first ore that constitutes about 24,000t has commenced.
• The reconciled final grades will be measured against mine predicted grades.
• The mining of ore is expected to be completed in March Quarter 2018.

Intermin Resources Limited is pleased to divulge that the haulage of the first ore that constitutes about 24,000t has commenced and that the ore is to be processed on competitive commercial terms at the 1 Mtpa Lakewood Mill. The average mine predicted grade is 4.1g/t Au. The reconciled final grades will be measured against mine predicted grades thanks to the Toll milling at Lakewood. This will offer more opportune feedback for the operation.

Famous as a gold exploration and mining company, Intermin focuses on the Menzis and Kalgoorlie areas that are popular rich gold deposits. The company has secured a highly prospective tenure and continues to pursue value-adding and consolidation joint venture opportunities that are meant to benefit every stakeholder.

The mining of ore is expected to be completed in March Quarter 2018. This expectation is as a result of the ore mining that is currently underway at Stage 1 and Stage 2.

Mining focused on the separation of waste overburden during the December Quarter. Until now, the first ore has been delivered to the ROM Pad with 402,000 BCM of waste being mined ahead of schedule. Furthermore, a radar monitoring system has been installed recently as a way of ensuring that the pit wall conditions are appropriately adhered to for the sake of ensuring the safety of the pit as well as its efficient completion.

The 18000 to 20000 ounces of combined Teal open pit recovered at A$1,000 to $1,100 per ounce generates approximately A$8 to $9 million in net cash flow. This is expected by March 2018.

Intermin’s strong financial position enables it to self-fund the large-scale competitive exploration campaigns in 2018 with ease as well as finalize the subsequent mining studies and approvals.

According to Jon Price, Intermin’s Managing Director, “It is extremely pleasing to see the completion of the pre-strip at Teal Stage 2 ahead of schedule which is a credit to the team and our mining alliance partner RM Contracting.

“Teal is continuing to deliver to forecast grade with recovery exceeding expectations and we  look forward to furthering cash generation from this successful project during 2018 in what is a very healthy gold price environment.”

About Intermin Resources (ASX: IRC)

Intermin is a gold exploration and mining company focussed in the Goldfields area of Western Australia which are host to some of Australia’s richest gold deposits. The Company’s flagship projects are the 100% owned Teal, Goongarrie, Blister Dam, Windanya and Olympia projects which host significant mineralisation and have the potential to be mined via open cut and underground methods.

Request Information