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Intermin Resources hits high-grade gold in drilling at Teal project near Kalgoorlie

Last updated: 21:35 17 Apr 2018 EDT, First published: 21:04 17 Apr 2018 EDT

Picture of the Teal starter pit
These latest drilling results further demonstrate the potential scale and quality within the Teal project

Intermin Resources Limited (ASX:IRC) has received promising reverse circulation (RC) drilling results from the 100%-owned Teal Gold Project.

The company is conducting an extensive exploration program at the project which is 11 kilometres northwest of Kalgoorlie-Boulder in Western Australia.

Managing director Jon Price said: “These latest drilling results further demonstrate the potential scale and quality within the Teal project area.

“They certainly justify the priority placed on this large mineralised system just 15 minutes’ drive from the city of Kalgoorlie-Boulder."

Drill program aimed at growing Teal resource base

In February 2018 Intermin began a self-funded 55,000-metre drilling program across its 100%-owned Kalgoorlie gold projects.

The $4 million drill program is focused on new discoveries and resource extensions at the key Teal, Anthill and Blister Dam projects.

The program will include 20,000 metres of RC and diamond drilling at the Teal project area aimed at growing the current resource base and testing new discovery targets identified in 2017.

Price said: “The ongoing drilling program at Teal will test the full extent of this system to add free milling oxide to our production profile and determine the scale of the deeper, higher grade, primary sulphide mineralisation to enable assessment of future development options.”

Jacques Find features high grades

To date, 31 RC holes have been completed for about 4,100 metres to a maximum depth of 220 metres.

At Jacques Find, drilling has intercepted new zones of shallow oxide supergene mineralisation including 6 metres at 4.72 g/t gold from 54 metres and 6 metres at 4.34 g/t from 42 metres.

Deeper mineralisation with excellent width and grades were also intercepted, including 8 metres at 10.31 g/t from 123 metres and 8 metres at 5.7 g/t from 64 metres.

The drilling has resulted in an additional 100 metres of open-ended gold mineralisation where one hole intercepted strong oxide mineralisation of 5 metres at 1.26 g/t.

The mineralised trend at Jacques Find is now in excess of 500 metres in length and remains open to the north and at depth.

Yolande displays broad zones of oxide mineralisation

At Yolande, three holes have been completed with recent results having defined broad zones of oxide mineralisation above deeper primary mineralisation.

Some of the better results included 37 metres at 2.16 g/t from 90 metres and 9 metres at 4.45 g/t from 118 metres.

READ: Intermin Resources has range of share price catalysts on the horizon

Drilling is continuing at the Teal project area, testing additional new discovery targets, stepping out from the latest drill lines and completing further infill to improve the quality of the resources.

Results from the ongoing drilling are expected in coming weeks, and these along with other developments are potential share price catalysts.