News and Announcements
Intermin Resources Limited (ASX:IRC) Commences Gold Drill Program in Kalgoorlie
- Published July 11, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Intermin Resources Limited (ASX:IRC) has announced the commencement of major discovery and resource expansion drill program at its 100%-owned gold projects in the Kalgoorlie Region located in Western Australia.
KEY TAKEAWAYS:
- 32,000 drill program has commenced to target multiple prospects in the Kalgoorlie Region.
- Approximately half of the budgeted drill metres targeting new discovery.
- Resource validation and expansion drilling at the recently acquired Anthill deposit and exploration drilling along strike at the Blister Dam project are both located on the highly prospective Zuleika Shear northwest of the Kundana goldfield.
- Resource expansion drilling has begun at the new high-grade Jacques Find deposit including testing two priority IP anomalies along strike at the Yolande prospect.
- Exploration drilling on Bardoc Tectonic Zone projects at the Olympia, Baden Powell and Windanya prospects.
- First results are expected to be released in the current quarter.
Commenting on the start of the major drill program, Intermin Managing Director, Mr Jon Price said:
“With significant free cash flow being generated from our first mining project at Teal, the Company is now targeting exploration success as we kick off the largest drill program in Intermin’s history.
New discovery drilling comprises more than 50% of the $2.2m program with priority walk up targets on the prolific Zuleika Shear and Bardoc Tectonic Zone. Most of these targets have not been drill tested for 20 years or beyond 100m depth and large discoveries are still being made in the region”.
To read the full ASX article click here
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