(MENAFN- ABN Newswire)
Mineral Resources Grow 30% to Over 560,000 Ounces Perth, Sep 19, 2018 AEST (ABN Newswire) - Intermin Resources Limited ( 1.0g/t Au lower grade cut-off with various top cuts applied)(see Note 3 below)
Project Geology
The Teal gold deposit comprises a well-defined supergene blanket located above shears and quartz within structurally controlled felsic schists, tuffs and porphyry rocks at depth. Mineralisation is strongly influenced by flexures along the northwest-southeast striking Peyes Farm Shear zone which trends parallel to the regional geology. Gold mineralisation is developed in an upper flat lying oxide supergene deposit located between 30-55 metres vertical depth and in primary mineralisation in a sub vertical west and east dipping shear zones. The mineralisation trends NNW over a strike length of approximately 650 metres.
The Jacques Find gold deposit comprises a well-defined supergene blanket located above shears and quartz within structurally controlled felsic schists, tuffs, sediments and porphyry rocks at depth. Mineralisation is strongly influenced by cross cutting structures and stratigraphy to the north to northwest striking shear zone which trends parallel to the regional geology. Gold mineralisation is developed in a flat lying oxide supergene deposit located between 35-55 metres vertical depth and in primary mineralisation within a sub vertical shear zones. The mineralisation trends N-NW over a strike length of approximately 800 metres. For the Mineral Resource Estimate, Jacques incorporates the prospects known as Yolande and Teal West.
The Peyes Farm gold deposit, is similar to Teal and comprises a moderately developed supergene blanket located above shears and quartz within structurally controlled felsic schists, tuffs, sediments and porphyry rocks at depth. Mineralisation is strongly influenced by cross cutting structures and contacts. Peyes Farm is located within a north striking shear zone which trends parallel to the regional geology. Gold mineralisation is poorly developed in the flat lying oxide supergene deposit located between 20-40 metres vertical depth. Peyes primary mineralisation dips east at about 60deg. The mineralisation spans approximately 600 metres.
Primary mineralisation at depth exhibits semi-refractory properties and optimal recoveries are achieved through ultra-fine grinding, pressure oxidation or roasting. The shallow oxide supergene mineralisation is similar to the Teal gold mine where recoveries over 94% where achieved.
Next Steps(see Note 4 below)
Given the successful drilling programs to date, further resource extension and new discovery drilling in the Teal Project area is planned to commence in the March Quarter 2019. The drilling will focus on:
- Building additional resources at Teal West and Teal East
- Following up encouraging auger results proximal to the Jacques Find and Peyes South areas
- Diamond drilling beneath deep high grade shoots at Jacques Find and Teal
Mining studies have commenced on the Jacques Find, Peyes Farm and further stages of the Teal project focussed on open pit development for extraction of the oxide and transitional ore as part of the mining production pipeline. In addition, metallurgical test work will continue to determine optimal processing pathways for the primary mineralisation with further discussions to be held with suitable processing plant owners in close proximity.
Notes:
1 as announced to the ASX on 18 April, 24 April, 12 June and 1 August 2018
2 see Table 1 on Page 4, Competent Persons Statements on Pages 4 and 21, Forward Looking Statement on Page 22 and JORC Tables on Page 23
3 as announced to the ASX on 18 April, 24 April, 12 June and 1 August 2018, see also JORC Tables on Page 14
4 see Forward Looking and Cautionary Statements on Pages 21 and 22
To view tables and figures, please visit:
http://abnnewswire.net/lnk/3ZV0008B
About Intermin Resources Limited
Intermin 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.
Intermin 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.
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