Sign up USA
Proactive Investors - Run By Investors For Investors

Intermin Resources’ drilling reveals potential to develop Teal as a gold mining hub

The drilling was successful in extending the mineralisation beyond the current resource envelope.
Teal gold mine
Intermin is currently producing gold at the Teal mine

Intermin Resources Limited’s (ASX:IRC) drilling at the Teal gold project northwest of Kalgoorlie-Boulder in Western Australia has intercepted spectacular widths and grades of gold.

Significantly, the drilling was successful in extending the mineralisation beyond the current resource envelope to the north, south and at depth.

Jon Price, managing director, commented: “These excellent widths and grades clearly demonstrate the potential scale and quality of this large new mineralised system in the heart of the WA Goldfields.

The new results at Yolande are also encouraging as the mineralisation appears to be related to the IP anomalies north of the Jacques Find discovery where very little drilling has been conducted to date.”

“I see the potential for the Teal area to become a significant new mining hub with both open cut and underground mining.”

Resource extension and discovery drilling completed

Intermin’s drilling aimed to test for extensions to known mineralisation at the Jacques Find prospect and to test an induced IP anomaly which trends for over 600 metres along strike at the Yolande prospect.

Extensional drilling at Jacques intercepted:

- 26 metres at 7.81 g/t gold from 48 metres;
- 16 metres at 5.33 g/t gold from 86 metres; and
- 7 metres at 7.13 g/t gold from 100 metres.

The strike length has now increased to over 800 metres and remains open in all directions, demonstrating the potential scale of the large mineralised system.

Next steps

Due to the quantity of high grade mineralisation discovered, a new priority follow up drill program commenced on 7 November 2017.

The drilling will comprise five holes for circa 550 metres with the results expected in the current December quarter.


It is worth noting that Intermin is already a gold producer through its mining operation at the Teal Gold Mine.

Teal is on track to produce 15,000 to 16,000 ounces of gold generating net cash flows to Intermin of up to $8 million at A$1600 an ounce gold price.

The company is well-funded with over $5.7 million in cash at the end of the September quarter, with a robust 2018 and 2019 mining project pipeline.

READ NEXT: Intermin Resources and partner begins drilling high-grade gold targets

View full IRC profile View Profile

Intermin Resources Ltd Timeline

Related Articles

Breaking first ground at the HPA plant site
August 09 2018
Stage I construction at Johor site kicks off with a geotechnical drilling and ground survey program.
August 01 2018
Tungsten prices are on the rise and construction is proceeding apace at Barruecopardo
Peel mining worker
August 12 2018
The company's Wagga Tank – Southern Nights area is evolving into a large high-grade deposit.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright ©, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use