http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Fri, 25 May 2018 22:51:34 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Intermin Resources confirms positive test work results for Richmond vanadium project ]]> http://www.proactiveinvestors.com.au/companies/news/196502/intermin-resources-confirms-positive-test-work-results-for-richmond-vanadium-project-196502.html Intermin Resources Limited (ASX:IRC) and joint venture partner AXF have received positive initial metallurgical test work results from the Lilyvale prospect area, part of the Richmond vanadium project.

The project is in northwest Queensland and covers an area of 1,520 square kilometres with a total resource of 2,579 million tonnes grading 0.32% vanadium.

READ: Intermin Resources surges higher on revealing world-class vanadium resource

China-based AXF brings considerable technical expertise to the project and has extensive business relationships throughout Southeast Asia.

AXF can earn up to a 75% interest by spending $6 million by 2021 inclusive of a feasibility study.

In late 2017, AXF collected about 1.2 tonnes of vanadium samples from Lilyvale for despatch to two research laboratories in China.

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

Particle size analysis completed by the laboratories has confirmed previous work where 90% of the contained vanadium reported to the fine size fractions below 43 micrometres.

Importantly, initial two-stage concentration tests resulted in a 1.1% vanadium grade in 39% of the mass at a 78.4% recovery.

Further test work is now underway to optimise the pre-concentration stages with the aim of delivering a 1.5% - 2% vanadium feedstock at acceptable recovery for downstream processing test work.

Infill drilling at the shallow oxide Lilyvale prospect is planned for the September quarter to upgrade the resource to the measured and indicated categories and to provide additional metallurgical samples.

Potential for a world class vanadium deposit

Intermin managing director Jon Price said: “The first pass results from Lilyvale are extremely encouraging and confirm the historic test work completed by Intermin over the last decade.

“To have highly credentialed research institutes in China delivering 78% of the vanadium into 39% of the mass at good grades bodes well for the optimisation test work now underway.

“We look forward to further results and moving forward with AXF on the downstream processing studies and upgrading the Lilyvale resource.

“With the soft oxide mineralisation just 4 metres below surface at Lilyvale, the scale of the project has the potential to compete with any world-class vanadium deposit and meet the supply needs of both the steel and emerging energy storage markets.”

Increasing demand for vanadium

Vanadium redox flow batteries are being increasingly used by the energy storage industry as a key component in the grid-scale storage of solar and wind energy.

Currently, over 80% of the world’s vanadium production comes from China (55%), but stricter environmental regulations on Chinese steel mills have seen a dramatic decline in production.

On the back of tightening supply and increased demand, vanadium prices have recently reached eight-year record highs.

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Tue, 08 May 2018 11:34:00 +1000 http://www.proactiveinvestors.com.au/companies/news/196502/intermin-resources-confirms-positive-test-work-results-for-richmond-vanadium-project-196502.html
<![CDATA[News - Intermin Resources strikes gold at Wills Find at early stage of extensive drilling program ]]> http://www.proactiveinvestors.com.au/companies/news/195609/intermin-resources-strikes-gold-at-wills-find-at-early-stage-of-extensive-drilling-program-195609.html Intermin Resources Limited (ASX:IRC) has released further results from reverse circulation drilling at its new discovery targets at the Teal Gold Project.

The project is in highly prospective territory, 11 kilometres from Kalgoorlie-Boulder in Western Australia.

A new prospect 200 metres east of Peyes Farm named Wills Find returned significant gold mineralisation including 18 metres at 2.69 g/t gold from 96 metres.

Expansion of resource

Managing director Jon Price said: “These latest drilling results provide further evidence of multiple parallel structures across the entire Teal project area and demonstrate the potential scale of the mineralised system.

“We are less than 20% of the way through our 55,000-metre drill program and look forward to testing the remaining new discovery targets and continuing with our resource growth program across 2018.”

Mineralisation similar to Teal Gold Mine

The shallow oxide supergene mineralisation is similar to the Teal Gold Mine where recoveries over 94% where achieved.

To date, 26 reverse circulation holes have been completed for 3,156 metres to a maximum depth of 160 metres testing new discovery targets.

The targets were identified in areas where the historic drilling was regarded as being too shallow, but are also coincident with several prospective structures.

Strategy pays dividends at Wills Find

The Wills Finds target was one such area where three holes drilled by Intermin discovered consistent, anomalous gold.

These holes were plotted and the surrounding structures tested.

The discovery hole recorded 23 metres at 1.29 g/t gold from 67 metres including a higher-grade zone of 10 metres at 2.13 g/t gold from 78 metres.

Step back drilling delivered the aforementioned 18-metre intersection grading 2.69 g/t gold.

Further results pending

Intermin has tested the five priority new discovery targets around Jacques Find and Peyes Farm with two of these areas returning significant mineralisation.

At Wills Find, diamond drilling is planned alongside further reverse circulation drilling to follow up anomalous surface mineralisation.

This will focus on targets close to where quartz veining has been dug out.

Further targets, including east of Teal and untested areas linking Peyes Farm and Teal, are scheduled to be drilled in May.

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Tue, 24 Apr 2018 10:01:00 +1000 http://www.proactiveinvestors.com.au/companies/news/195609/intermin-resources-strikes-gold-at-wills-find-at-early-stage-of-extensive-drilling-program-195609.html
<![CDATA[News - Intermin Resources hits high-grade gold in drilling at Teal project near Kalgoorlie ]]> http://www.proactiveinvestors.com.au/companies/news/195204/intermin-resources-hits-high-grade-gold-in-drilling-at-teal-project-near-kalgoorlie-195204.html 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.

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Wed, 18 Apr 2018 11:04:00 +1000 http://www.proactiveinvestors.com.au/companies/news/195204/intermin-resources-hits-high-grade-gold-in-drilling-at-teal-project-near-kalgoorlie-195204.html
<![CDATA[News - Intermin Resources has range of share price catalysts on the horizon ]]> http://www.proactiveinvestors.com.au/companies/news/194567/intermin-resources-has-range-of-share-price-catalysts-on-the-horizon-194567.html Intermin Resources Limited (ASX:IRC) has adopted a strategy of entering into joint ventures for most of its broad range of projects which predominantly span base and precious metals.

The company also has exposure to platinum group elements (PGEs), vanadium, molybdenum and cobalt.

Intermin managing director Jon Price said: “Intermin’s strategy of entering into joint ventures with well-credentialed partners for its non-core projects allows it to focus on its strategy of building a mid-tier gold business in the Western Australian Goldfields while giving shareholders exposure to active programs across a range of commodities.”

Production outperformance, exploration results and resource upgrades are among the range of possible share price catalysts that could emerge over the next six months.

Teal Gold Project surprises on the upside

Just recently, Intermin upgraded production guidance from the Teal gold mine in Western Australia’s Goldfields.

READ: Intermin Resources mines more gold than expected at Teal project

Additional gold was found within and below the open pit, prompting management to increase production guidance to a range between 21,000 ounces and 22,000 ounces.

Extensive exploration in 2018

Intermin has a busy year ahead in 2018 after drilling over 26,000 metres in 2017 across eight priority project areas on major gold-bearing shear zones.

A fully funded $4 million, 50,000-60,000 metre drilling program is envisaged.

Price said: “The past year has been one of significant growth for the company on the back of a highly successful exploration program, the generation of cash flow from the first stages of the Teal operation and a number of value accretive acquisitions and joint ventures.

“Intermin is now in a strong and quite unique position to be able to self-fund a larger resource growth drilling program in 2018 with the focus on our key projects at Teal gold camp, Anthill and Blister Dam with planning at an advanced stage for 50,000 to 60,000 metres of drilling to commence this quarter.”

“Our shareholders are very supportive of our strategy to grow our resource base above the 1 million ounce mark with an aggressive drill program and that is our key objective for 2018."

Cash flow from Janet Ivy gold royalties

Intermin also owns a 50 cents per tonne mining royalty that relates to ore mined and treated from a mining lease near Kalgoorlie-Boulder in Western Australia.

The company entered into a deed for the sale of M26/446 in 2001 and it is now owned by Norton Gold Fields Ltd (NGF) which was delisted from the ASX on July 1, 2015.

As part of the sale, Intermin was prepaid nearly $1.4 million of the royalty as part of the acquisition cost, equivalent to a mining and treatment tonnage of 2.8 million tonnes.

Ore treated from the tenement at the Paddington mill in the March quarter was 425,000 tonnes which is subject to royalty payments of $212,500.

Intermin anticipates further royalty payments on a quarterly basis for material scheduled by NGF to be treated.

Wholly-owned Richmond vanadium project

Intermin owns five mineral exploration permits covering 481 blocks near Richmond in Queensland.

The mineral resource for Richmond is nearly 2.6 million tonnes grading 0.32% V2O5 at a 0.29% cut-off grade.

READ: Intermin Resources surges higher on revealing world-class vanadium resource

Intermin negotiated an earn-in joint venture whereby AXF Resources can earn 25% of the project area by spending $1 million within a one-year period.

Under the agreement, AXF will solely contribute to further expenditure of $5 million on the projects to earn a further 50% over a three-year period, inclusive of the completion of a feasibility study on part or all of the project area.

Imminent share price catalysts

With AXF now having formally committed to stage II expenditure of $5 million over three years to March 2021, there is the prospect of important near-term newsflow.

Infill drilling of the high-grade Lilyvale prospect at Richmond is planned for the September quarter of 2018 with the aim of upgrading the resource to the measured and indicated categories.

Initial discussions will also commence with potential offtake partners and local, state and national stakeholders.

Metallurgical test work is underway at two leading Chinese research institutes to assess optimal pre-concentration steps and downstream processing options.

Initial results on pre-concentration of the ore are expected in the current June Quarter.

Drilling commences at Menzies-Goongarrie Gold Project

Intermin negotiated an earn-in joint venture with Eastern Goldfields Ltd (ASX:EGS) whereby the group can and 25% of the project areas by spending $2 million within a two-year period.

Eastern Goldfields has the option to earn a further 25% by spending $2 million over the following two-year period.

The agreement also allows Eastern Goldfields to solely contribute to further expenditure of $1.5 million on the projects inclusive of a bankable feasibility study to support a mill installation in the Mt Edna/Menzies region to earn a further 15%.

Exploration drilling has commenced and results are due in the September quarter.

Consequently, there are potentially multiple share price catalysts for Intermin over the next six months.

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Tue, 10 Apr 2018 10:09:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194567/intermin-resources-has-range-of-share-price-catalysts-on-the-horizon-194567.html
<![CDATA[News - Intermin Resources mines more gold than expected at Teal project ]]> http://www.proactiveinvestors.com.au/companies/news/193830/intermin-resources-mines-more-gold-than-expected-at-teal-project-193830.html Intermin Resources Limited (ASX:IRC) has found additional gold within and below the open pit of the Teal Gold Project in Western Australia, prompting a production guidance increase.

With mining of stages I and II at Teal now complete, guidance has been boosted to between 21,000 and 22,000 ounces.

After the pre-strip was completed at stage II in the December quarter of 2017, the focus has been on completion of ore mining from stage I and stage II of the pit.

READ: Intermin Resources’ initial Anthill gold resource provides strong growth base

As the pit progressed to the end of the design life, additional ore was identified within and below the design and was mined out where possible.

Managing director Jon Price said: “While the project has not been without its challenges, Teal has more than delivered on its promises.

“It is extremely pleasing to see the mine perform well against feasibility study estimates.”

On March 10, the final load of ore was hauled to the ROM pad and mine closure activities began.

230,000 tonnes of ore mined

In total, 230,000 tonnes of ore has been mined grading 3.2 g/t gold for 23,500 ounces mined.

This compares favourably with the 203,000 tonnes grading 3.2 g/t for 20,700 ounces mined as estimated in the feasibility studies for both stages.

The Teal project is 11 kilometres northwest of Kalgoorlie-Boulder.

Based on the additional tonnage, expected grade and improved recovery from the operation, the company has lifted production guidance at an all-in cost of A$1,000–$1,100 per ounce.

Milling at Lakewood facility

The second milling campaign at the nearby Lakewood toll milling facility has been completed with 26,600 tonnes milled at a reconciled grade of 3.5 g/t.

Reconciled gold production of 2,910 fine ounces was achieved at an improved 97.2% recovery with $4.9 million in gross revenue received at an average gold price of $1,684 per ounce.

Final milling will be completed this month with about 50,000 tonnes expected to be treated.

The final production and financial reconciliations are expected in the June quarter of 2018.

READ: Intermin Resources surges higher on revealing world-class vanadium resource

Price added: “The company is now in a strong position to fund an aggressive growth strategy.

“In 2018 this growth strategy means resource growth and new discoveries in one of the most productive goldfields in the world.

“We look forward to delivering ongoing results from the 55,000-metre drill program underway and believe the Anthill, Blister Dam and Teal project areas have potential to deliver a significant step change for the business.”

Intermin has joint ventures in place across multiple commodities and regions of Australia providing exposure to vanadium, copper, PGEs, gold and nickel/cobalt.

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Tue, 27 Mar 2018 11:39:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193830/intermin-resources-mines-more-gold-than-expected-at-teal-project-193830.html
<![CDATA[News - Intermin Resources surges higher on revealing world-class vanadium resource ]]> http://www.proactiveinvestors.com.au/companies/news/193426/intermin-resources-surges-higher-on-revealing-world-class-vanadium-resource-193426.html Intermin Resources Limited’s (ASX:IRC) shares are trading about 24% higher intra-day after revealing an updated JORC resource for the Richmond Vanadium Project in central north Queensland.

The global inferred resource for Richmond totals 2.579 billion tonnes grading 0.32% vanadium pentoxide at a 0.29% cut-off grade, making it one of the largest vanadium deposits in the world.

READ: Intermin Resources’ initial Anthill gold resource provides strong growth base

Intermin managing director Jon Price said: “With vanadium prices reaching 10-year highs on the back of tightening supply and surging demand in the grid-scale battery market, Richmond has the potential to become a major supplier of vanadium to the energy storage and steel markets.”

Resource amenable to low cost, open cut mining

The Richmond project is a joint venture with Chinese backed AXF Vanadium whereby AXF can earn up to a 75% interest by spending $6 million by 2021 inclusive of a feasibility study.

The project covers 1,520 square kilometres and is close to existing infrastructure including a gas pipeline, major highway and railway linked to Townsville Port.

The resource remains open in all directions and is amenable to low cost, open cut mining with the resource located within 15 metres of surface and hosted in a soft marine sediment

Intermin’s initial development focus is on the shallow higher grade Lilyvale deposit which has a 671 million tonne resource grading 0.35% vanadium pentoxide.

Vanadium prices are rising

                                              Vanadium pentoxide (98%) US$/pound price

Vanadium redox flow batteries are being increasingly used by the energy storage industry as a key component in the grid scale storage of solar and wind energy.

Currently, over 80% of the world’s vanadium production comes from China (55%) whether mined or as a by-product of steel making.

Recent changes in Chinese policy include the banning of imported metal slag containing vanadium and stricter environmental regulations on Chinese steel mills has seen a dramatic decline in production.

On the back of tightening supply and increased demand, vanadium prices have recently reached eight-year record highs.

Next Steps

With the release of the global resource, Intermin will now focus on the shallow higher grade Lilyvale prospect with work to include initial metallurgical test work on ore pre-treatment (due June quarter 2018) and infill drilling for a measured resource.

Price added: “The company looks forward to supporting AXF as the JV completes infill drilling and metallurgical test work to assess the most economic and efficient pathway to commercial production.”

READ: Intermin Resources begins major drill program in the Western Australian goldfields ]]>
Tue, 20 Mar 2018 11:34:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193426/intermin-resources-surges-higher-on-revealing-world-class-vanadium-resource-193426.html
<![CDATA[News - Intermin Resources poised to release resource update at Richmond vanadium project ]]> http://www.proactiveinvestors.com.au/companies/news/193264/intermin-resources-poised-to-release-resource-update-at-richmond-vanadium-project-193264.html Intermin Resources Limited (ASX:IRC) is about to release a resource update in relation to its Richmond Vanadium Project in Queensland.

The company has entered a trading halt pending the release of the update which will stay in place no later than the commencement of trading on Tuesday, March 20, 2018.

Raft of good news drives Intermin higher

In the last four weeks, the company’s shares have surged from about 18 cents to hit a high of 25 cents.

Another recent promising development was a mineral resource update at the company’s Anthill Gold Project in the Kalgoorlie-Boulder region of Western Australia.

Total mineral resource of 434,000 ounces

The maiden JORC mineral resource at Anthill stands at 1.42 million tonnes at 1.72 g/t gold for 78,000 ounces.

This brings the company’s total mineral resource to 6.36 million tonnes at 2.12 g/t gold for 434,000 ounces.

Vanadium provides diversification

Should the Richmond project deliver a promising resource, it would possibly be seen as a healthy diversification, providing the company with a mix of precious and industrial metals.

The recent increase in the vanadium price makes the upcoming news all the more important.

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Fri, 16 Mar 2018 08:14:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193264/intermin-resources-poised-to-release-resource-update-at-richmond-vanadium-project-193264.html
<![CDATA[News - Intermin Resources’ initial Anthill gold resource provides strong growth base ]]> http://www.proactiveinvestors.com.au/companies/news/193026/intermin-resources-initial-anthill-gold-resource-provides-strong-growth-base-193026.html Intermin Resources Limited’s (ASX:IRC) initial resource estimate of 78,000 ounces of gold for the Anthill deposit in Western Australia provides a base from which to grow the project.

Of the 1.42 million tonne resource at a grade of 1.72 g/t gold, 75% is in the indicated category.

The Anthill resource takes Intermin’s overall resource in the Eastern Goldfields region to 6.36 million tonnes at 2.12 g/t for 434,000 ounces.

READ: Intermin Resources begins major drill program in the Western Australian goldfields

Jon Price, managing director, said: “The successful drilling at Anthill in 2017 has confirmed the company’s geological interpretation.

“The initial mineral resource is an excellent base on which to grow the project.

“Intermin takes a very conservative and economic approach to resource estimation and typically applies higher cut-off grades as we commence initial development studies.”

Shares reached a 12-month high of 25 cents in late February and have traded in the range of 21 to 23.5 cents today.

READ: Intermin Resources achieves record ore mining at Teal Gold Mine

In the June and September quarters of 2017, Intermin completed 45 reverse circulation holes for 6,282 metres to depths between 75 and 230 metres and one diamond hole to 226 metres.

The best result was 105 metres at 1.38 g/t gold from 48 metres, including 41 metres at 2.35 g/t from 73 metres.

Further drilling planned

A further resource drilling program of 7,000 metres is planned at Anthill to test extensions along strike and at depth outside the resource envelope.

New regional discovery drilling of about 7,000 metres is also planned to test new targets at Fire Ant and to the north, east and west of the Anthill resource.

Intermin Resources' assets are in the prolific Eastern Goldfields.

Price said: “We now look forward to the upcoming extensional and new discovery drill program planned for the June quarter.

“We believe Anthill and new targets identified within the project area have the potential to be a significant part of our future production pipeline.”

Another resource update in third quarter

Results from drilling proposed for the June quarter will be added to the geological database for resource model compilation.

A further resource update is expected in the September quarter.

In addition, initial in-house scoping studies will begin shortly to assess optimal mining and processing pathways for an open cut mine development.

READ: Intermin Resources pegs new tenements in the Western Australian goldfields

The company recently pegged a new tenure, the Lakewood Gold Project, 8 kilometres southeast of Kalgoorlie Boulder.

Lakewood comprises 115 square kilometres on the greenstone belt south of Kalgoorlie-Boulder’s Golden Mile and adjacent to the Lakewood toll milling facility.

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Tue, 13 Mar 2018 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193026/intermin-resources-initial-anthill-gold-resource-provides-strong-growth-base-193026.html
<![CDATA[News - Intermin Resources begins major drill program in the Western Australian goldfields ]]> http://www.proactiveinvestors.com.au/companies/news/191805/intermin-resources-begins-major-drill-program-in-the-western-australian-goldfields-191805.html Intermin Resources Limited (ASX:IRC) has commenced a 55,000-metre drill program at its 100%-owned gold projects in the Kalgoorlie region of Western Australia.

Key aspects of the fully funded $4 million program include:

• Program split circa 50% on new discovery and 50% on resource growth;
• Focused on three core project areas: Teal, Anthill and Blister Dam;
• Resource expansion drilling at Teal, Jacques Find, Peyes Farm and Anthill testing extensions along strike and at depth outside current resource envelopes; and
• New discovery drilling at Blister Dam, Teal, Fire Ant and Anthill Extended targeting high-grade open cut and underground orebodies.

READ: Intermin Resources pegs new tenements in the Western Australian goldfields

Jon Price, managing director, said: “With the significant free cash flow that has been generated from our first mining project at Teal, our focus now turns to exploration success as we kick off the largest drill program in Intermin’s history.

“The Western Australian goldfields is a world-class gold producing region with significant discoveries still being made through modern systematic exploration and investment in deeper drilling.

“We look forward to the first drilling results and adding our own chapter to the rich mining history of the Western Australian Goldfields.”

READ: Intermin Resources achieves record ore mining at Teal Gold Mine

The company mined a record 65,200 tonnes of ore grading 3.53 g/t gold for 7,400 ounces during the December 2017 quarter at its Teal Gold Mine in Western Australia.

Significantly, Intermin produced 5,214 ounces of gold at C1 costs of A$680/ounce and an all-in cost (AIC) of A$1,292/ounce.

Given the success of the Teal open cut, the company is targeting additional supergene oxide and transitional material at Jacques Find, Teal Extended and Peyes Farm to add to the production pipeline.

Drilling is underway at the Jacques Find discovery with first results expected early in the June quarter 2018.

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Mon, 19 Feb 2018 11:18:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191805/intermin-resources-begins-major-drill-program-in-the-western-australian-goldfields-191805.html
<![CDATA[News - Intermin Resources pegs new tenements in the Western Australian goldfields ]]> http://www.proactiveinvestors.com.au/companies/news/191538/intermin-resources-pegs-new-tenements-in-the-western-australian-goldfields-191538.html Intermin Resources Limited (ASX:IRC) has pegged a new tenure, the Lakewood Gold Project, eight kilometres southeast of Kalgoorlie Boulder in the Western Australian goldfields.

The company is currently mining and generating cash from the Teal gold mine and will soon commence a self-funded 50- 60,000 metre new discovery and resource growth drilling program.

READ: Intermin Resources achieves record ore mining at Teal Gold Mine

Jon Price, managing director, said: “We have been extremely fortunate to pick up such a large contiguous block of prospective greenstone belt in the heart of the Kalgoorlie goldfields which is consistent with our strategy of low-cost acquisition of assets on major geological structures.

“Preliminary assessment has highlighted a number of high-quality targets that remain untested and we look forward to commencing drilling on the project once the tenements have been granted.”

Project is located within the highly prospective Black Flag Group

Lakewood comprises a total area of 115 square kilometres on the greenstone belt south of Kalgoorlie-Boulder’s Golden Mile and adjacent to the one million tonnes per annum Lakewood toll milling facility.

The project is located within the highly prospective Black Flag Group which also hosts the Teal-Jacques Find-Peyes Farm deposits.

The area was pegged and applications for tenements submitted at a total cost of $50,000.

Reviewing historical data for target generation

Data compilation and initial drill targeting have commenced with several high-quality targets identified that remain untested.

Intermin intends to undertake a more detailed review of the historical exploration and compile a working database with a view to target generation.

Work will be fast-tracked on the final grant of the applications, expected in the second half of 2018.

READ: Intermin Resources' first-pass drilling results warrant extensive follow-up program

The company recently revealed first pass drilling results from its Blister Dam Gold Project in Western Australia.

Results included intersections of 1 metre at 36 g/t gold from 35 metres and 5 metres at 4.12 g/t gold from 46 metres.

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Tue, 13 Feb 2018 11:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191538/intermin-resources-pegs-new-tenements-in-the-western-australian-goldfields-191538.html
<![CDATA[News - Intermin Resources' first-pass drilling results warrant extensive follow-up program ]]> http://www.proactiveinvestors.com.au/companies/news/191180/intermin-resources-first-pass-drilling-results-warrant-extensive-follow-up-program-191180.html Intermin Resources Limited (ASX:IRC) has released first pass drilling results from its Blister Dam Gold Project, 54 kilometres from Kalgoorlie-Boulder in Western Australia.

Results included intersections of 1 metre at 36 g/t gold from 35 metres and 5 metres at 4.12 g/t gold from 46 metres.

As a result of the drilling, five new prospects have been generated in the project area.

Two distinct gold mineralisation styles

Of the 21 targets identified at Blister Dam, nine of these were subject to first pass drilling.

The program was completed in December 2017 with 46 reverse circulation holes drilled for 4,120 metres to an average depth of 90 metres.

Initial drilling confirms two distinct gold mineralisation styles, being strongly developed high-grade quartz veins and broader lower grade shear hosted gold mineralisation.

Price says Blister Dam is one of group’s most exciting assets

Jon Price, managing director, said: “With these excellent first pass results, Blister Dam has certainly staked its claim as one of the most exciting assets within our portfolio to deliver a significant new discovery.

“We now look forward to the large scale follow up program commencing shortly in an area on the Zuleika shear zone that has had very little modern exploration and remains virtually untested at depth.”

Extensive drilling planned in 2018

The next phase of drilling at Blister Dam will be completed in the first half of 2018.

As part of a $4 million new discovery and resource growth program, over 7,000 metres has been allocated at Blister Dam.

An additional 7,000 metres of drilling will be conducted at Blister Dam in the second half if required.

READ: Intermin Resources aims to surpass one million ounces of gold in 2018 ]]>
Tue, 06 Feb 2018 10:09:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191180/intermin-resources-first-pass-drilling-results-warrant-extensive-follow-up-program-191180.html
<![CDATA[News - Intermin Resources achieves record ore mining at Teal Gold Mine ]]> http://www.proactiveinvestors.com.au/companies/news/190795/intermin-resources-achieves-record-ore-mining-at-teal-gold-mine-190795.html Intermin Resources Limited (ASX:IRC) mined a record 65,200 tonnes of ore grading 3.53 g/t gold for 7,400 ounces during the December 2017 quarter at its Teal Gold Mine in Western Australia.

Significantly, the company produced 5,214 ounces of gold at C1 costs of A$680/ounce and an all-in cost (AIC) of A$1,292/ounce inclusive of A$1.64 million (A$315/ounce) in Teal Stage II pre-strip expenditure.

Ore processing at the Paddington Mill was completed during the period with 1,287 fine ounces of gold produced.

On track to achieve guidance of 18,000 to 20,000 ounces of gold

The first toll treatment campaign at the 1 million tonnes per annum (mtpa) Lakewood plant commenced during the period with 34,700 tonnes processed grading 3.67 g/t gold for 3,927 fine ounces produced.

The second treatment campaign commenced subsequent to quarter end and will process circa 30,000 tonnes of ore on stockpile with the third and final campaign scheduled for late February.

It is expected that all mined ore will be treated in the March quarter enabling production and financials to be finalised early in the June quarter.

Intermin maintains guidance at the combined Teal open pit of 18,000 to 20,000 ounces of gold recovered at an AIC of A$1,000 to A$1,100 per ounce.

READ: Intermin Resources aims to surpass one million ounces of gold in 2018

The company’s strategy is to grow its resource base above the 1 million ounce mark with an aggressive drill program.

Intermin has a busy year ahead in 2018 after drilling over 26,000 metres in 2017 across eight priority project areas on major gold bearing shear zones.

Preparations are well advanced to commence a fully funded $4 million, 50,000-60,000 metre drilling program in the current March quarter.

The company is well funded with current cash and tradeable securities totalling $8.7 million.

News flow to continue in 2018

Drilling at the Binduli gold project by JV partner Evolution Mining Limited (ASX:EVN) comprised 38 holes for 4,006 metres with results expected during this quarter.

The results of the metallurgical testwork from the Richmond Vanadium Project underway in China under supervision of JV partner AXF Resources are expected in the June quarter 2018.

Janet Ivy Mining Royalty payments of $0.50/tonne are now due after treated tonnages exceeded the prepayment threshold with regular quarterly payments expected through 2018.

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Tue, 30 Jan 2018 14:14:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190795/intermin-resources-achieves-record-ore-mining-at-teal-gold-mine-190795.html
<![CDATA[News - Intermin Resources aims to surpass one million ounces of gold in 2018 ]]> http://www.proactiveinvestors.com.au/companies/news/190056/intermin-resources-aims-to-surpass-one-million-ounces-of-gold-in-2018-190056.html Intermin Resources Limited (ASX:IRC) has a busy year ahead in 2018 after drilling over 26,000 metres in 2017 across eight priority project areas on major gold bearing shear zones.

Preparations are well advanced to commence a fully funded $4 million, 50,000-60,000 metre drilling program in the current March quarter.

The company is well funded with current cash and tradeable securities totalling $8 million.

2017 saw first cash flow generated from Teal

Jon Price, managing director, said: “The past year has been one of significant growth for the company on the back of a highly successful exploration program, the generation of cash flow from the first stages of the Teal mining operation and a number of value accretive acquisitions and joint ventures.

“Intermin is now in a strong and quite unique position to be able to self-fund a larger Resource growth drilling program in 2018 with the focus on our key projects at the Teal gold camp, Anthill and Blister Dam with planning at an advanced stage for 50-60,000 metres of drilling to commence this quarter.”

Growing the gold resource base above 1 million ounces

Price continued: “Our shareholders are very supportive of our strategy to grow our resource base above the 1 million ounce mark with an aggressive drill program and that is our key objective for 2018.

“We have done it before and we’ll be working very hard to do it again in what is a world class gold producing region.”

Key 2018 objective is resource growth

In 2018, 75% of the planned drilling will be focussed on resource expansion at the Teal Gold Camp and Anthill Gold Project.

Both reverse circulation and diamond drilling will be completed to continue lateral and depth extensions to known mineralisation and to test parallel structures along strike.

Planning and preparation is also well advanced for significant drilling in 2018 at the high priority Blister Dam Project and will be finalised upon receipt of first pass results in the current quarter.

The program will be fully funded from existing cash reserves generated from the Teal gold mine and through the recently approved exploration grant.

Near-term news flow expected

Intermin expects updates over the short term regarding:

- Gold production and development updates from the Teal gold mine;
- Drilling results from the Kalgoorlie gold projects;
- Gold joint venture drilling results;
- Vanadium joint venture metallurgical test results and resource update;
- Janet Ivy gold mine royalty update; and
- Global investor marketing including the RIU Explorers conference in February.

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Tue, 16 Jan 2018 11:01:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190056/intermin-resources-aims-to-surpass-one-million-ounces-of-gold-in-2018-190056.html
<![CDATA[News - Intermin Resources appointment to enhance gold operations ]]> http://www.proactiveinvestors.com.au/companies/news/189772/intermin-resources-appointment-to-enhance-gold-operations-189772.html Intermin Resources Limited (ASX:IRC) expects to support development of its gold project pipeline through the appointment of a new chief operating officer.

Mining engineer Grant Haywood has been promoted to the role after serving as the company’s general manager - mining.

Operational experience

He has more than 25 years’ experience in underground and open cut operations for junior and multi-national gold companies, including Gold Fields, Saracen Mineral Holdings and Phoenix Gold.

Haywood holds a First Class Mine Manager’s Certificate and has managed West Australian mining projects from feasibility through to operations.

Lorry Hughes tenders resignation

Intermin’s executive director Lorry Hughes has tendered his resignation to take on an executive position in a new exploration company.

The resignation will take effect on 31 January 2018.

READ: Intermin Resources resumes ore mining at Teal Gold Mine

Intermin is producing gold from the Teal mine in the Goldfields region of Western Australia and is developing a pipeline of other projects in the state.

Peter Bilbe, chairman, said: “The Board would like to extend its sincere thanks to Lorry for his significant contribution to the successful growth of the company and wishes him well in his new role.

“In turn, we are delighted to promote Grant to the position of COO.

“This comes as we continue our mining operation at Teal and grow the business through self-funded exploration, completion of mining studies to bolster our development pipeline and pursue further acquisitions.”

Key catalysts

Intermin is expecting near-term news flow from multiple projects:

-        Exploration updates from its Kalgoorlie gold projects;

-        Gold production and development updates from the Teal gold mine; and

-        Binduli JV drilling results

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Wed, 10 Jan 2018 16:02:00 +1100 http://www.proactiveinvestors.com.au/companies/news/189772/intermin-resources-appointment-to-enhance-gold-operations-189772.html
<![CDATA[News - Intermin Resources partner confirms presence of gold bearing structures at Kombi ]]> http://www.proactiveinvestors.com.au/companies/news/188611/intermin-resources-partner-confirms-presence-of-gold-bearing-structures-at-kombi-188611.html Intermin Resources Ltd's (ASX:IRC) partner, Mithril Resources (ASX:MTH) has intersected further gold in drilling at the Kombi prospect in Western Australia.

Results have confirmed the presence of gold bearing structures at the prospect, which is circa 70 kilometres southeast of Meekatharra.

The drilling program comprised eight reverse circulation holes for 498 metres.

It was carried out at the southern end of Kombi within a zone of quartz veins and shearing.

READ: Intermin Resources’ partner to follow up high-grade gold hits at Kombi

The latest holes returned 4 metres at 0.95 g/t gold from 28 metres and 4 metres at 0.29 g/t gold from 52 metres.

Mithril is evaluating all drilling data to determine next exploration steps for the area.

Mithril earning into Kombi prospect

At Kombi Mithril can earn a 60% interest from Intermin by completing expenditure of $2 million by 14 April 2019 with circa $1.24 million spent to date.

It can earn an additional 15% by completing further expenditure of $2 million over a further 2 years.

Intermin producing at Teal

Intermin is a gold producer through its mining operation at Teal Gold Mine 11 kilometres northwest of Kalgoorlie-Boulder in Western Australia.

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.

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Tue, 12 Dec 2017 08:47:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188611/intermin-resources-partner-confirms-presence-of-gold-bearing-structures-at-kombi-188611.html
<![CDATA[News - Intermin Resources resumes ore mining at Teal Gold Mine ]]> http://www.proactiveinvestors.com.au/companies/news/188322/intermin-resources-resumes-ore-mining-at-teal-gold-mine-188322.html Intermin Resources Ltd (ASX:IRC) has resumed ore mining at its Teal Gold Mine, located 11 kilometres northwest of Kalgoorlie-Boulder in Western Australia.

Haulage of the first ore comprising circa 24,000 tonnes with an average predicted grade of 4.1 g/t gold has commenced.

Ore mining on a single shift basis is now underway at both Stage 1 and Stage 2.

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

Intermin’s recent mining operations at Teal have focussed on pre-stripping waste in Stage 2, with the east wall cut back completed ahead of schedule.

The ore will be processed on a campaign basis at the 1 million tonne per annum Lakewood Mill on competitive commercial terms.

The first processing campaign for the 24,000 tonnes of ore is scheduled to commence on 13 December 2017.

Mining, haulage and processing of the remaining ore (circa 75,000 tonnes grading 3.2g/t gold) is scheduled for completion in the March quarter 2018.

READ: Intermin Resources assays further high-grade gold at the Teal gold camp

Importantly, Intermin has maintained its guidance for both Teal Stages 1 and 2 totalling 18,000 - 20,000 ounces of gold at an all-in-cost (AIC) of A$1,000 - $1,100 per ounce.

Jon Price, managing director, said: “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 further cash generation from this successful project during 2018 in what is a very healthy gold price environment.”

Intermin is expecting news flow from multiple projects including drilling results from the Kalgoorlie gold projects, Nanadie Well joint venture and Binduli joint venture.

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Wed, 06 Dec 2017 13:23:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188322/intermin-resources-resumes-ore-mining-at-teal-gold-mine-188322.html
<![CDATA[News - Intermin Resources assays further high-grade gold at the Teal gold camp ]]> http://www.proactiveinvestors.com.au/companies/news/187937/intermin-resources-assays-further-high-grade-gold-at-the-teal-gold-camp-187937.html Intermin Resources Limited (ASX:IRC) is continuing to receive further encouraging drilling results from  the Jacques Find discovery, part of the Teal gold camp near Kalgoorlie-Boulder in Western Australia.

Significant high-grade reverse circulation intercepts include:

- 27 metres at 4.16 g/t gold from 45 metres;
- 1 metres at 9.53 g/t gold and 10 metres at 2.59 g/t gold from 71 metres; and
- 2 metres at 3.38 g/t gold from 31 metres.

All holes successfully intercepted significant mineralisation beyond the current resource envelope to the north, south and at depth.

Importantly, excellent grades and widths in the oxide supergene zone together with primary high grade mineralisation demonstrate potential for both open cut and underground mining.

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

Intermin is planning a major follow up drilling program to commence in the March quarter 2018 with an updated gold resource expected in the June quarter 2018.

The company is also drilling for Australia's next gold discovery at the Anthill project, located on the Zuleika shear zone in the Western Australian Goldfields.

READ NEXT: Intermin Resources' broad gold discoveries at Anthill reveal company-making potential

Intermin is expecting news flow from multiple projects including drilling results from the Kalgoorlie gold projects, Nanadie Well JV and Binduli JV.

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Wed, 29 Nov 2017 11:19:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187937/intermin-resources-assays-further-high-grade-gold-at-the-teal-gold-camp-187937.html
<![CDATA[News - Intermin Resources’ drilling extends gold zone at Baden Powell project ]]> http://www.proactiveinvestors.com.au/companies/news/187872/intermin-resources-drilling-extends-gold-zone-at-baden-powell-project-187872.html Intermin Resources Limited’s (ASX:IRC) drilling has extended the strike length of gold mineralisation at its Baden Powell gold project, located 60 kilometres north of Kalgoorlie-Boulder in Western Australia.

The drilling was designed to test for shallow strike extensions to previously identified mineralisation adjacent to a historical shallow open pit mine.

Jon Price, managing director, said: “The results from Baden Powell are encouraging given they have extended the strike length of the mineralisation and demonstrated the system is developing at depth.

“Follow up work is planned for the second half of 2018.

“Anthill and Jacques Find will be prioritised given recent drilling success and we eagerly await results from the current drilling at Blister Dam due early in the March Quarter.”

Encouraging second stage drilling results at Baden Powell

The 2017 drilling program at Baden Powell comprised eight reverse circulation holes for 1,164 metres and was completed in two stages.

Intermin’s first five holes in the program included a new discovery - 17 metres at 3 g/t gold from 104 metres.

The final three holes (second stage) for 590 metres have now been completed.

Best downhole intercepts include:

- 14 metres at 1.87 g/t gold from 129 metres; and
- 10 metres at 1.30 g/t gold from 183 metres.

READ: Intermin Resources' broad gold discoveries at Anthill reveal company-making potential

It is likely that given Intermin’s recent drilling success at the Anthill and Jacques Find projects these will be prioritised for substantial follow up in 2018.

Meanwhile, the results from the 2017 program at Baden Powell are encouraging as most holes intersected significant mineralisation at depth.

These holes are the deepest completed at the project and have provided encouragement to conduct further drilling.

At Baden Powell, the company will focus on low level exploration work, including a soil mapping program and possibly an induced polarisation (IP) survey.

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

The company seems to be spoilt for choice as it plans large scale self-funded drilling programs in 2018.

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Tue, 28 Nov 2017 16:53:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187872/intermin-resources-drilling-extends-gold-zone-at-baden-powell-project-187872.html
<![CDATA[News - Intermin Resources’ partner begins drilling at the Binduli joint venture gold project ]]> http://www.proactiveinvestors.com.au/companies/news/187546/intermin-resources-partner-begins-drilling-at-the-binduli-joint-venture-gold-project-187546.html Intermin Resources Limited’s (ASX:IRC) joint venture partner Evolution Mining Ltd (ASX:EVN) has commenced a 4,000 metre drilling program at the Binduli JV gold project in Western Australia.

The Binduli project comprises circa 100 square kilometres of under-explored tenements located 5-20 kilometres northwest of Kalgoorlie-Boulder.

Under the terms of the Binduli joint venture agreement, Evolution can earn 70% of the project by spending $4.6 million over 5 years.

Evolution is drilling up to 39 angled drill holes to depths of 100-120 metres and will test high priority geochemical and structural targets at the Coot & Crake and Honey Eater prospects.

It is worth noting that the Binduli area is bound to the west by the highly prospective Zuleika Shear Zone and to the east by the increasingly important Abattoir Shear Zone.

At the Coot & Crake prospects, 26 holes are planned to test for new mineralisation for circa 2 kilometres north along strike from previously identified mineralisation with a best intercept of 15 metres at 5.59 g/t gold from 71 metres.

At the Honey Eater prospect located four kilometres southwest of Intermin’s Teal gold mine, 13 holes are planned for 1,380 metres to test new targets along strike from historic drill intercepts.

The drilling is expected to take up to four weeks.

Earlier this month, drilling at the Teal gold project northwest of Kalgoorlie-Boulder intercepted spectacular widths and grades of gold.

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

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

Intermin is expecting news flow from multiple projects including drilling results from the Kalgoorlie gold projects, Nanadie Well JV drilling updates and gold production/development updates from the Teal gold mine.

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Tue, 21 Nov 2017 11:25:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187546/intermin-resources-partner-begins-drilling-at-the-binduli-joint-venture-gold-project-187546.html
<![CDATA[News - Intermin Resources’ drilling reveals potential to develop Teal as a gold mining hub ]]> http://www.proactiveinvestors.com.au/companies/news/187266/intermin-resources-drilling-reveals-potential-to-develop-teal-as-a-gold-mining-hub-187266.html 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.

Analysis

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 ]]>
Wed, 15 Nov 2017 13:47:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187266/intermin-resources-drilling-reveals-potential-to-develop-teal-as-a-gold-mining-hub-187266.html
<![CDATA[News - Intermin Resources and partner begins drilling high-grade gold targets ]]> http://www.proactiveinvestors.com.au/companies/news/187191/intermin-resources-and-partner-begins-drilling-high-grade-gold-targets-187191.html Intermin Resources Ltd's (ASX:IRC) partner, Mithril Resources (ASX:MTH) has commenced a drill program targeting high-grade gold at the Kombi prospect near Meekatharra in Western Australia.

Importantly, the drilling at Kombi will follow-up recently obtained shallow gold intercepts of 4 metres at 12.76 g/t gold from 20 metres and 1 metre at 5.44 g/t gold from 20 metres.

The Kombi gold prospect lies on Intermin’s exploration license which is subject to a farm-in and joint venture agreement with Mithril.

Mithril can earn a 60% interest in the tenement by spending $2 million by April 2019, and an additional 15% by spending $2 million over a further 2 years.

It is worth noting that Kombi comprises shallow historical gold workings with a reported production of 1,094 tonnes at 10.8 g/t gold.

Meanwhile, Intermin is on a search for Australia's next gold discovery at the Anthill project, located on the Zuleika shear zone in the Western Australian Goldfields.

READ NEXT: Intermin Resources' broad gold discoveries at Anthill reveal company-making potential

The recent high-grade gold drilling results at Anthill demonstrate the large scale open cut and underground potential of the project.

Intermin is a gold producer through its mining operation at the Teal Gold Mine located 11 kilometres north-west of Kalgoorlie-Boulder in Western Australia.

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.

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Tue, 14 Nov 2017 14:57:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187191/intermin-resources-and-partner-begins-drilling-high-grade-gold-targets-187191.html
<![CDATA[News - Intermin Resources’ partner to follow up high-grade gold hits at Kombi ]]> http://www.proactiveinvestors.com.au/companies/news/186769/intermin-resources-partner-to-follow-up-high-grade-gold-hits-at-kombi-186769.html Intermin Resources Ltd's (ASX:IRC) partner, Mithril Resources (ASX:MTH) is commencing a drill program targeting high-grade gold at the Kombi prospect, located circa 70 kilometres southeast of Meekatharra in Western Australia.

The drilling at Kombi will follow-up recently obtained shallow gold intercepts of 4 metres at 12.76 g/t gold from 20 metres and 1 metre at 5.44 g/t gold from 20 metres.

The Kombi gold prospect lies on Intermin’s exploration license which is subject to a farm-in and joint venture agreement with Mithril.

Mithril can earn a 60% interest in the tenement by spending $2 million by April 2019, and an additional 15% by completing further expenditure of $2 million over a further 2 years.

Kombi comprises shallow historical gold workings with a reported production of 1,094 tonnes at 10.8 g/t gold.

With no historical drilling beneath the most recent holes, the new intercepts remain open in all directions and are high priority follow-up targets.

Meanwhile, Intermin is on a self-funded search for Australia's next gold discovery at the Anthill project, located on the Zuleika shear zone in the Western Australian Goldfields.

READ NEXT: Intermin Resources' broad gold discoveries at Anthill reveal company-making potential

The recent high-grade gold drilling results at Anthill demonstrate the large scale open cut and underground potential of the project.

Intermin is a gold producer through its mining operation at the Teal Gold Mine located 11 kilometres north-west of Kalgoorlie-Boulder in Western Australia.

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 already 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.

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Mon, 06 Nov 2017 14:44:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186769/intermin-resources-partner-to-follow-up-high-grade-gold-hits-at-kombi-186769.html
<![CDATA[News - Intermin Resources' broad gold discoveries at Anthill reveal company-making potential ]]> http://www.proactiveinvestors.com.au/companies/news/186068/intermin-resources-broad-gold-discoveries-at-anthill-reveal-company-making-potential-186068.html Intermin Resources Ltd (ASX:IRC) is on a self-funded search for Australia's next gold discovery, and the latest results from the wholly-owned Anthill project identify this potential.

Anthill is located on the Zuleika shear zone in the Western Australian Goldfields, which has recently been revealing new discoveries.

Highlights from the initial reverse circulation extensional and validation drilling program include:

- 41 metres at 2.63g/t gold from 69 metres;
- 30 metres at 2.98g/t gold from 73 metres; and
- 11 metres at 3.72g/t gold from 46 metres.

While the above results show the potential for open pit mining, there were also deeper intersections supporting continued mineralisation, such as:

- 17 metres at 5.37g/t gold from 137 metres;
- 6 metres at 11.15g/t gold from 110 metres; and
- 11 metres at 6.22g/t gold from 157 metres.

Jon Price, managing director, commented:

"These outstanding high-grade results at Anthill demonstrate large scale open cut and underground potential and we look forward to commencing the accelerated and fully-funded drilling program to test extensions to the mineralisation along strike, at depth and on parallel structures.

"Modern exploration on the Zuleika shear and in the WA Goldfields, particularly at depth, has resulted in a number of significant new discoveries and Anthill has now shown potential to become a stand-alone company making asset."

Analysis

Intermin maintains its growth strategy by generating near-term cash by developing gold projects via third party infrastructure, while entering joint ventures on non-core projects.

The company's tenements have had little modern exploration, yet are positioned in the heart of the Western Australian goldfields.

Intermin is well-funded with over $7 million in cash and investments, with news flow to remain strong in the short to medium term with a robust 2018 and 2019 mining project pipeline.

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Tue, 24 Oct 2017 13:54:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186068/intermin-resources-broad-gold-discoveries-at-anthill-reveal-company-making-potential-186068.html
<![CDATA[News - Intermin Resources benefits from partner’s gold hits ]]> http://www.proactiveinvestors.com.au/companies/news/185549/intermin-resources-benefits-from-partners-gold-hits-185549.html Intermin Resources (ASX:IRC) is in a position to potentially benefit from high-grade gold mineralisation drill results recorded at the at the Kombi Gold Prospect in Western Australia.

The Kombi Gold Prospect lies on EL51/1040 which is subject to a farm-in and joint venture agreement with Mithril Resources (ASX:MTH).

Recently, Mithril drilled six reverse circulation holes totalling 504 metres to test for high-grade gold mineralisation beneath the historic Gloria June gold workings.

Results include:

- 4 metres at 12.76 g/t gold from 20 metres; and
- 1 metre at 5.44 g/t gold from 20 metres.

With no historical drilling beneath the most recent holes, the new intercepts remain open in all directions and are a high priority for follow-up.

Given the success of drilling at Kombi, Mithril plans to undertake further drilling at Kombi as soon as possible.

Mithril can earn a 60% interest by completing expenditure of $2 million by 14 April 2019 and has spent circa $1.24 million to date.

Intermin is already a gold producer

Intermin is a gold producer through its mining operation at the Teal Gold Mine located 11 kilometres north-west of Kalgoorlie-Boulder in Western Australia.

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

The current gold price is A$1,654 per ounce, which bodes well for net cash flows.

The company's key growth strategy is centred on discovery and resource expansion through exploration while generating near-term cash by developing gold projects via third-party infrastructure.

Next phase of growth

Intermin plans to release the feasibility study results for both its Goongarrie Lady Gold Project and Teal Stage 3 in the coming March quarter.

READ NOW: Intermin Resources reveals gold potential with drill results ]]>
Fri, 13 Oct 2017 16:04:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185549/intermin-resources-benefits-from-partners-gold-hits-185549.html
<![CDATA[News - Intermin Resources reveals gold potential with drill results ]]> http://www.proactiveinvestors.com.au/companies/news/184945/intermin-resources-reveals-gold-potential-with-drill-results-184945.html Intermin Resources (ASX:IRC) has received high-grade drill results from its 100%-owned  Goongarrie Lady gold project 80 kilometres north of Kalgoorlie-Boulder in Western Australia.

The results demonstrate the potential for increased ore production beyond the 14,700 ounces of gold estimated in the 2016 scoping study.

Highlights from the reverse circulation and diamond infill program include 6 metres at 14.35 g/t gold from 30 metres and 12 metres at 6.97 g/t gold from 31 metres.

Jon Price, managing director, commented: “The excellent results at Goongarrie Lady have provided increased confidence in the geology and demonstrate potential for an increased production profile.

“We look forward to releasing the maiden Reserve and the feasibility study results early in the March Quarter.”

Drill result details

The program was part of the open pit feasibility study and comprised 121 reverse circulation and six diamond drill holes for a total 5,912 metres and 368 metres respectively.

Highlights included:

- 6 metres at 14.35 g/t gold from 30 metres;
- 12 metres at 6.97 g/t gold from 31 metres;
- 12 metres at 5.99 g/t gold from 49 metres;
- 7 metres at 8.06 g/t gold from 57 metres;
- 12 metres at 4.04 g/t gold from 31 metres;
- 15 metres at 2.80 g/t gold from 17 metres;
- 4 metres at 10.37 g/t gold from 20 metres;
- 8 metres at 5.50 g/t gold from 34 metres;
- 18 metres at 2.33 g/t gold from 21 metres; and
- 4 metres at 12.27 g/t gold from 40 metres.

Purpose of the drilling

The drilling was completed to bring the Resource into the Measured JORC category for the estimation of a maiden Reserve as part of the feasibility study due for release early in the March quarter.

The current JORC resource stands at 270,000 tonnes grading 2.9 g/t gold for 25,000 ounces of gold.

Hydrogeological, geotechnical and metallurgical diamond drilling was also completed and approvals for development are well advanced for a development decision in the March quarter.

Results have exceeded expectations

Drilling results have exceeded expectations and demonstrated the potential to grow the project from the scoping study results of 14,700 ounces of production for $7-8 million net cash.

Goongarrie Lady is shaping up to be Intermin’s next producing mine after Teal completion in March.

This will enable continuous production at ~20,000 ounces per annum generating ~A$10 million in free cash flow at $500 per ounce cash margin.

Upcoming news

Intermin plans to release the feasibility study results for both Goongarrie Lady and Teal Stage 3 in the coming March quarter.

Further drilling results are also to come from Anthill, Blister Dam, Baden Powell and Jacques Find / Yolande.

The company's key growth strategy is centred on discovery and resource expansion through exploration while generating near-term cash by developing gold projects via third-party infrastructure.

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Tue, 03 Oct 2017 10:50:00 +1100 http://www.proactiveinvestors.com.au/companies/news/184945/intermin-resources-reveals-gold-potential-with-drill-results-184945.html
<![CDATA[News - Intermin Resources begins work on a processing pathway for its vanadium resource ]]> http://www.proactiveinvestors.com.au/companies/news/184254/intermin-resources-begins-work-on-a-processing-pathway-for-its-vanadium-resource-184254.html Intermin Resources Limited’s (ASX:IRC) joint venture partner at the Richmond Vanadium Project in Queensland has commenced metallurgical sampling and compilation of an updated resource.

The aim of the metallurgical sampling is to develop a processing pathway to extract the metals (vanadium, molybdenum, nickel, copper) on a large commercial scale.

The new updated JORC 2012 resource is being compiled to take into account tenement boundary changes as part of the Queensland government’s tenement management policies.

Earlier this week, Intermin had executed the formal joint venture agreement with AXF Resources covering Intermin’s Richmond project.

AXF will sole fund and manage up to $6 million of technical beneficiation and commercialisation studies over four years to earn a 75% interest in the project.

Since 2008 Intermin has completed drilling, beneficiation test-work and directional studies at Richmond providing AXF with a substantial technical database from which to continue development.

READ NOW: Intermin Resources gets ready to unlock vanadium potential in Queensland

AXF has now reviewed the outcome of Intermin’s earlier testwork and has designed follow up metallurgical and mineral dressing programs to be conducted on new bulk samples.

Suitable research institutes have been identified in China to conduct the testwork and bulk sample shipment is scheduled to commence in the December quarter.

Circa 1.2 tonnes of mineralised toolebuc limestone (Coquina) was collected from existing gravel pits within the project area in early August 2017.

The bulk samples will be sent to at least two research institutes in China to conduct trial tests of mineral and metallurgical processing for the extraction of vanadium and molybdenum.

The testwork and reporting is expected to take around 18 – 20 weeks after samples arrive.

With a globally significant resource of 3.3 billion tonnes grading 0.4% vanadium and 295 g/t molybdenum and increasing interest in the energy storage space driving prices up, the companies are aiming to rapidly unlock the value of this project.

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Wed, 20 Sep 2017 11:31:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184254/intermin-resources-begins-work-on-a-processing-pathway-for-its-vanadium-resource-184254.html
<![CDATA[News - Intermin Resources gets ready to unlock vanadium potential in Queensland ]]> http://www.proactiveinvestors.com.au/companies/news/184179/intermin-resources-gets-ready-to-unlock-vanadium-potential-in-queensland-184179.html Intermin Resources Limited (ASX:IRC) has executed the formal joint venture agreement with AXF Resources covering Intermin’s Richmond Vanadium - Molybdenum Project in Queensland.

In December 2016, the companies had signed an agreement for AXF to sole fund and manage up to $6 million of technical beneficiation and commercialisation studies over four years to earn a 75% interest.

AXF had also agreed to subscribe for $430,000 in Intermin shares.

Intermin has now issued circa 3.4 million shares at $0.12 each to AXF after receiving the part 2 payment of $410,000 pursuant to the terms of the joint venture.

The wholly-owned Richmond vanadium-molybdenum project is located in northwest Queensland and comprises three mineral exploration permits and the metal rights to a mineral development licence.

The project tenements cover large areas of the Cretaceous Toolebuc Formation containing oil shale deposits that host extensive vanadium and molybdenum mineralisation.

Since 2008 Intermin has completed drilling, beneficiation test-work and directional studies at Richmond providing AXF with a substantial technical database from which to continue development.

With the current excitement around the use of vanadium redox batteries for the growing energy storage market, the joint venture partners are aiming to unlock the potential of this potentially large resource.

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Tue, 19 Sep 2017 13:01:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184179/intermin-resources-gets-ready-to-unlock-vanadium-potential-in-queensland-184179.html
<![CDATA[News - Intermin Resources' partner Mithril Resources commences gold drilling program near Meekatharra ]]> http://www.proactiveinvestors.com.au/companies/news/183941/intermin-resources-partner-mithril-resources-commences-gold-drilling-program-near-meekatharra-183941.html Intermin Resources Ltd's (ASX:IRC) partner, Mithril Resources Ltd (ASX:MTH), has commenced a reverse drilling program at the Kombi Gold Prospect, located 70 kilometres south-east of Meekatharra in Western Australia.

Kombi comprises shallow historic gold workings with reported production to 10 metres depth of 1,094 tonnes at 10.8g/t gold.

A large gold in soil anomaly 150 metres by 170 metres in size has been defined immediately along strike from the workings.

Joint venture details

Under the terms of the joint venture, Mithril can earn a 60% interest in the tenement by completing expenditure of $2 million by 14 April 2019, and an additional 15% by completing further expenditure of $2 million over a further 2 years.

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Thu, 14 Sep 2017 11:08:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183941/intermin-resources-partner-mithril-resources-commences-gold-drilling-program-near-meekatharra-183941.html
<![CDATA[News - Intermin Resources commences mining of Teal Stage 2 ]]> http://www.proactiveinvestors.com.au/companies/news/183497/intermin-resources-commences-mining-of-teal-stage-2-183497.html Intermin Resources Ltd (ASX:IRC) has now completed the Feasibility Study for Teal Stage 2, part of the Teal gold mine near Kalgoorlie in Western Australia.

Mining of Teal Stage 2 will occur concurrently as Teal Stage 1 is completed and will extend mining operations at the site to the March 2018 quarter.

Key outcomes from the study indicate a financially viable cutback to the existing Teal Stage 1 eastern pit wall with the following results:

- Open pit mine design producing 31,000 tonnes at 3.1g/t gold for 3,100 ounces over a five month period;
- Third party milling at 94% for oxide and 80% for transitional metallurgical recovery produces 2,775 gold ounces;
- Capital development costs of $0.9 million;
- All in costs of $1069 an ounce; and
- At an Australian Dollar price of $1600 an ounce, the project generates $1.1 million in free cash flow for the company.

Jon Price, managing director, commented:

"The potential for further stages of the Teal gold mine have always been a part of our future mining project pipeline and the excellent performance of Teal Stage 1 to date has provided additional confidence to commence development of Stage 2.

"Stage 2 delivers incremental cash flow to the business and enables continuity of mining into the March Quarter 2018 when we expect to have the Goongarrie Lady and Teal Stage 3 Feasibility Studies complete for a development decision shortly thereafter."

READ NOW: Intermin enters cash flow growth phase by producing gold from Teal ]]>
Wed, 06 Sep 2017 13:08:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183497/intermin-resources-commences-mining-of-teal-stage-2-183497.html
<![CDATA[News - Intermin Resources enters cash flow growth phase by producing gold from Teal ]]> http://www.proactiveinvestors.com.au/companies/news/183422/intermin-resources-enters-cash-flow-growth-phase-by-producing-gold-from-teal-183422.html Intermin Resources Ltd (ASX:IRC) is building up its cash balance from mining at the Teal Gold Mine, located 11 kilometres north-west of Kalgoorlie-Boulder in Western Australia.

Teal is on track to produce 15,000 to 16,000 ounces at all-in-cost in Australian Dollars of $1030 to $1090 per ounce, from third party mill processing.

This would generate net cash flow to Intermin of up to $8 million at $1600 an ounce gold price.

The metrics could be set to improve for Intermin, with Australian Dollar gold currently trading at $1650 an ounce.

Jon Price, managing director, commented:

"As Stage 1 at Teal continues to generate significant cash flow to the business, the company is in an exciting growth phase as we complete Feasibility Studies on the Goongarrie Lady gold project and further stages at Teal to expand the production pipeline.

"The company also expects ongoing drilling results from the self-funded 32,000 metre exploration program in coming months as we continue our resource expansion efforts and the search for the next WA Goldfields discovery."

Key financials

Intermin has completed the repayment of the $2.1 million capital investment.

Add to this the return of Intermin’s asset recovery charge of $2.15 million is expected during the September quarter 2017.

Cash and investments to date have risen to more than $6 million.

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Tue, 05 Sep 2017 14:38:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183422/intermin-resources-enters-cash-flow-growth-phase-by-producing-gold-from-teal-183422.html
<![CDATA[News - Intermin Resources' gold intercepts will boost resource ounces at Anthill ]]> http://www.proactiveinvestors.com.au/companies/news/183132/intermin-resources-gold-intercepts-will-boost-resource-ounces-at-anthill-183132.html Intermin Resources Ltd's (ASX:IRC) shares have climbed 5.7% higher to $0.093 in early trade, following the company revealing broad gold zones on the Zuleika Shear in the Western Australian Goldfields.

A first pass diamond hole at the Anthill gold project intersected: 105 metres at 1.38g/t gold from 48 metres, including 41 metres at 2.35g/t gold.

The intercept confirms structural interpretation of the gold deposit and validates historic drilling data.

Results from the 7000 metre drilling program are expected to continue to flow through over coming months, after which Intermin will update the historic JORC 2004 Resource of 160,000 gold ounces.

Jon Price, managing director, commented:

"While the initial headline intercepts at Anthill are very encouraging, the geological data from the drill core has been invaluable in confirming the structural interpretation and the most appropriate drilling orientation for the follow up extension drilling.

"The company now looks forward to the results of the drilling campaign now underway and adding Anthill to our resource portfolio in the December quarter."

Price brings a wealth of experience to the company, and was the former general manager of the St Ives and Paddington gold mines, and was the founding managing director of Phoenix Gold which was acquired by Evolution Mining for $74.3 million in 2015.

The Intermin strategy

The company's key growth strategy is centred on discovery and resource expansion through exploration, while generating near-term cash by developing gold projects via third party infrastructure.

Intermin has banked more than $7.7 million since May, and has a robust 2017 and 2018 mining project pipeline.

This includes the commencement of its largest ever drill program, targeting new discoveries.

Additional options include pursuing regional consolidation opportunities of exploration assets, and joint ventures for multi-commodity non-core projects with partners.

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Wed, 30 Aug 2017 12:07:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183132/intermin-resources-gold-intercepts-will-boost-resource-ounces-at-anthill-183132.html
<![CDATA[News - Intermin Resources' hits high-grade gold in first pass drilling near Kalgoorlie ]]> http://www.proactiveinvestors.com.au/companies/news/183120/intermin-resources-hits-high-grade-gold-in-first-pass-drilling-near-kalgoorlie-183120.html Intermin Resources Ltd (ASX:IRC) has delivered high-grade gold from first pass reconnaissance drilling at the Bardoc Tectonic Zone project, located 60 kilometres north of Kalgoorlie-Boulder in Western Australia.

Drilling covered five reverse circulation holes for 574 metres at the Baden Powell prospect, and 27 air-core holes for 2,174 metres at the Olympia gold prospect.

The highlight from the Baden Powell prospect revealed: 17 metres at 3.00 g/t gold from 104 metres, including 7 metres at 5.95g/t gold.

Jon Price, managing director, commented:

"The high grade intercept at Baden Powell is very encouraging and demonstrates the increasing widths and grades at depth to the south of the historic workings where very little drilling has been conducted in the past.

"This is also the first ever drilling at Olympia in our understanding and it is extremely pleasing to see anomalous gold mineralisation supporting the gold in soils work completed last year.

"The company is investing heavily in new discovery exploration this year and will continue to apply the very latest in science and technology to systematically expand on the results to date."

Next steps

Follow up drilling at Olympia will now focus on two key areas to test both the quartz sulphide mineralisation at depth and for the presence of a larger supergene blanket, similar to the 1.3 million gold ounce Aphrodite deposit 4 kilometres along strike.

Intermin remains a very active explorer, with diamond and reverse circulation drilling continuing at multiple prospects in the Kalgoorlie region.

Results are expected throughout the remainder of the 2017 calendar year.

WATCH NOW: Intermin's Jon Price outlines the company's cash generating gold projects ]]>
Wed, 30 Aug 2017 08:27:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183120/intermin-resources-hits-high-grade-gold-in-first-pass-drilling-near-kalgoorlie-183120.html
<![CDATA[Media files - Intermin's Jon Price outlines the company's cash generating gold projects and expansion plans ]]> http://www.proactiveinvestors.com.au/companies/stocktube/7935/intermin-s-jon-price-outlines-the-company-s-cash-generating-gold-projects-and-expansion-plans-7935.html Wed, 16 Aug 2017 19:12:00 +1000 http://www.proactiveinvestors.com.au/companies/stocktube/7935/intermin-s-jon-price-outlines-the-company-s-cash-generating-gold-projects-and-expansion-plans-7935.html <![CDATA[News - Intermin Resources and partner Mithril Resources reveal new gold prospect ]]> http://www.proactiveinvestors.com.au/companies/news/182023/intermin-resources-and-partner-mithril-resources-reveal-new-gold-prospect-182023.html Intermin Resources Ltd (ASX:IRC) and Mithril Resources Ltd (ASX:MTH) have a partnership at the Murchison Project, located 70 kilometres south-east of Meekatharra in Western Australia.

Mithril is farming-in and can earn a 60% interest by completing expenditure of A$2mln by 14 April 2019, and an additional 15% by completing further expenditure of A$2mln over a further two years.

Mithril is targeting high-grade gold beneath the historic Gloria June workings, and a review of previous exploration data has identified a new gold prospect named Kombi.

At Gloria June, records show production of 1,094 tonnes at 10.8g/t gold within 10 metres of the surface.

Highlighting the potential, sampling of remnant quartz vein material returned up to 271g/t gold.

What lies beneath

Kombi is located 1.4 kilometres south east of Mithril’s Nanadie Well Copper Deposit and Stark Copper Prospect.

The prospect area has had little exploration, with no drill testing below 25 metres vertical depth and only wide spaced shallow reverse circulation drilling undertaken by previous explorers.

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Mon, 07 Aug 2017 11:42:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182023/intermin-resources-and-partner-mithril-resources-reveal-new-gold-prospect-182023.html
<![CDATA[News - Intermin Resources commences Stage 2 and 3 studies ]]> http://www.proactiveinvestors.com.au/companies/news/181749/intermin-resources-commences-stage-2-and-3-studies-181749.html Intermin Resources (ASX:IRC) has commenced feasibility studies for Stage 2 and Stage 3 at its 100% owned Teal Gold Mine located near Kalgoorlie-Boulder in Western Australia.

Mining of the Teal Stage 1 open pit commenced in late 2016 and is scheduled to be complete in October 2017 after recovering 15,000-16,000 ounces of gold from oxide ore with minor transitional material.

Stage 1 has been delivering on expectations with grade and recovery above plan to date.

The Stage 2 Study will assess the economic viability of a cut back to expose the oxide ore and Stage 3 Study will evaluate a larger pit expansion up to 200 metres along strike.

Completion of the fully funded studies for Teal Stages 2 and 3 is expected in the September and December quarters respectively.

Jon Price, managing director, commented

“The potential for further stages of the Teal gold mine have always been a part of our future mining project pipeline and the excellent performance of Teal Stage 1 to date has provided additional confidence to move forward with the Stage 2 and Stage 3 feasibility studies.

“With Stage 1 completion expected in October, the aim is to focus on a relatively low cost cutback of the eastern pit wall to enable mining at Teal to continue uninterrupted as we assess a potential Stage 3 at Teal and the Goongarrie Lady Feasibility Study by December this year.”

Stage 2 feasibility study

Intermin is completing a feasibility study for the Stage 2 cut back and an investment decision is expected in the September quarter.

No further resource infill drilling is anticipated for this zone however grade control reverse circulation (RC) drilling will be required as part of normal mining operations.

Stage 3 feasibility study

In relation to a potential Stage 3 development, the Teal Resource is known to extend south along strike and to vertical depths of over 250 metres from the Teal Stage 1 pit.

Flat lying supergene mineralisation very similar in form and thickness to material currently being mined has been identified directly south of the current Teal pit.

An RC drill program comprising 18 holes for ~1,200 metres will commence in August to infill known mineralisation, test its continuity and free milling metallurgical properties.

The results of the drilling will enable an updated resource model to be compiled and an updated mine optimisation and design to be completed.

If an economic southern cutback can be demonstrated, work will commence on related mine approval activities with completion expected in the December quarter.

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Tue, 01 Aug 2017 14:21:00 +1000 http://www.proactiveinvestors.com.au/companies/news/181749/intermin-resources-commences-stage-2-and-3-studies-181749.html
<![CDATA[News - Intermin Resources getting a free hit on copper drilling ]]> http://www.proactiveinvestors.com.au/companies/news/181733/intermin-resources-getting-a-free-hit-on-copper-drilling-181733.html Intermin Resources (ASX:IRC) is in a position to benefit as its earn-in partner on one of its non-core assets is drilling out copper and gold at the Murchison Project located in Western Australia.

Positive assay results have been received from diamond drilling recently carried out at the Nanadie Well Deposit and adjacent Stark Prospect.

Results from Nanadie Well include 4.90 metres at 1.80% copper, 0.25 g/t gold within a broader intercept of 127.7 metres at 0.40% copper and 0.11 g/t gold from 42.8 metres.

Results from Stark include 5.40 metres at 1.25% copper, 0.26% nickel, 1.21 g/t gold + platinum + palladium (3PGEs) within a broader intercept of 30.40 metres at 0.52% copper, 0.13% nickel, 0.36 g/t 3PGEs from 248.50 metres.

Mithril Resources (ASX:MTH) can earn a 60% interest in the tenements by spending $2 million by 14 April 2019, and an additional 15% by spending an additional $2 million over a further two years.

This latest drilling in combination with previous results demonstrates the presence of two very large copper mineralised systems that remain open in all directions.

The focus of future exploration will be the 13 kilometres of untested magnetic anomalies extending south from Nanadie Well and Stark.

Elsewhere, Intermin is currently gold mining at its 100% owned Teal Gold Mine located 11 kilometres north-west of Kalgoorlie-Boulder in Western Australia.

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Tue, 01 Aug 2017 09:24:00 +1000 http://www.proactiveinvestors.com.au/companies/news/181733/intermin-resources-getting-a-free-hit-on-copper-drilling-181733.html
<![CDATA[News - Intermin Resources reaping rewards from Teal Gold Mine ]]> http://www.proactiveinvestors.com.au/companies/news/181375/intermin-resources-reaping-rewards-from-teal-gold-mine-181375.html Intermin Resources (ASX:IRC) has received $7.7 million in revenue to date from its 100% owned Teal Gold Mine located 11 kilometres north west of Kalgoorlie-Boulder in Western Australia.

Mining has been completed in the northern section of the Teal Stage 1 pit and all ore has been delivered to Paddington Mill and processed.

Under the terms of the mining alliance contract with RM Contracting, RM has now received repayment of its initial capital investment of $2.1 million.

Intermin expects to receive return of its capital investment of $2.1 million followed by the asset recovery charge of $2.15 million in August prior to the profit share component.

Intermin’s share of the final cash flow from the project is estimated at $5-6 million and is expected in the September and December quarters.

Jon Price, managing director, commented:

“It is extremely pleasing to see reconciled ore grades and recoveries exceeding our feasibility study estimates in the north of the pit and provides confidence as we complete mining in the south and progress feasibility work on our future mining projects.

“As Teal continues to deliver significant cash flow to the business, we look forward to seeing the results of the 32,000 metres drilling program now underway and the completion of mine development studies at Goongarrie Lady and future stages at Teal.”

Mine operating better than expected

Ore mining continues in the southern section of the Teal Stage 1 pit on day shift with regular ore batches to be delivered until mine completion scheduled for October 2017.

The Teal Stage 1 operation is on track to produce 15,000 to 16,000 ounces of gold at an all in cost (AIC) estimated at $1,030 to $1,090 per ounce.

Reconciled final grades, recoveries and costs received for the northern section of the Teal pit graded an average of 3.02 g/t gold, 4% above the forecast grade of 2.90 g/t gold.

Gold recoveries to date measure 94%, which exceed the original feasibility study estimates of 90% for oxide ore.

Drilling in progress

Earlier in July, Intermin commenced a 31,600-metre drill program across multiple of its 100% owned gold projects in the Kalgoorlie Region of Western Australia.

The major discovery and resource expansion drill program will include Goongarrie Lady, Anthill, Blister Dam, New Mexico, Baden Powell, Olympia, Windanya, Jacques Find and Peyes Farm.

First results are expected this quarter.

A summary of the 31,600-metre program and which project it is targeting is shown below:

- Goongarrie Lady: 5,070 metres - resource upgrade to “Measured” for feasibility study;
- Anthill: 7,650 metres - validation and extensional upgrade for JORC 2012;
- Blister Dam / New Mexico: 6,700 metres - new discovery drilling to 250 metres depth targeting “Kundana” style open cut and underground mineralisation;
- Baden Powell: 1,100 metres - new resource drilling to upgrade to JORC 2012;
- Olympia / Windanya: 3,150 metres - first pass testing of identified anomalies;
- Jacques Find / Peyes Farm: 1,280 metres - resource extension drilling;
- Regional projects: 1,400 metres - first pass testing of priority targets at Black Flag, Bullabulling and Janet Ivy South; and
- Follow up provision: 5,250 metres - drilling based on initial results received.

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Tue, 25 Jul 2017 11:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/181375/intermin-resources-reaping-rewards-from-teal-gold-mine-181375.html
<![CDATA[News - Intermin Resources Ltd commences major drill program ]]> http://www.proactiveinvestors.com.au/companies/news/180651/intermin-resources-ltd-commences-major-drill-program-180651.html Intermin Resources Ltd (ASX:IRC) has commenced a 31,600 metre drill program across multiple of its 100% owned gold projects in the Kalgoorlie Region of Western Australia.

The major discovery and resource expansion drill program will include Goongarrie Lady, Anthill, Blister Dam, New Mexico, Baden Powell, Olympia, Windanya, Jacques Find and Peyes Farm.

Jon Price, interim managing director, commented: “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 $2.2 million 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 100 metre depth and large discoveries are still being made in the region.”


Drill program summary

During the last six months, Intermin has compiled and reviewed the large geological database in order to identify priority targets for ranking and drill testing.

Extensive field reconnaissance investigations were undertaken to confirm the targets and finalise the design of the FY2018 program.

A summary of the 31,600 metre program and which project it is targeting is shown below:

- Goongarrie Lady: 5,070 metres - resource upgrade to “Measured” for feasibility study;
- Anthill: 7,650 metres - validation and extensional upgrade for JORC 2012;
- Blister Dam / New Mexico: 6,700 metres - new discovery drilling to 250 metres depth targeting “Kundana” style open cut and underground mineralisation;
- Baden Powell: 1,100 metres - new resource drilling to upgrade to JORC 2012;
- Olympia / Windanya: 3,150 metres - first pass testing of identified anomalies;
- Jacques Find / Peyes Farm: 1,280 metres - resource extension drilling;
- Regional projects: 1,400 metres - first pass testing of priority targets at Black Flag, Bullabulling and Janet Ivy South; and
- Follow up provision: 5,250 metres - drilling based on initial results received.


Program highlights

Key aspects of the fully funded program include:

- Circa half of budgeted drill metres is targeting new discovery;
- Resource infill, geotechnical, hydrogeological and metallurgical drilling at the Goongarrie Lady deposit to complete the open pit mine development feasibility study;
- Resource validation and expansion drilling at the recently acquired Anthill deposit and exploration drilling along strike at the Blister Dam project which are both located on the highly prospective Zuleika Shear northwest of the Kundana goldfield;
- Resource expansion drilling at the new high-grade Jacques Find deposit including testing two priority induced polarisation anomalies along strike at the Yolande prospect; and
- Exploration drilling on Bardoc Tectonic Zone projects at the Olympia, Baden Powell and Windanya prospects.

First results are expected in the current September quarter.

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Tue, 11 Jul 2017 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180651/intermin-resources-ltd-commences-major-drill-program-180651.html
<![CDATA[News - Intermin Resources Ltd wraps up acquisition of Anthill gold project ]]> http://www.proactiveinvestors.com.au/companies/news/180421/intermin-resources-ltd-wraps-up-acquisition-of-anthill-gold-project-180421.html Intermin Resources Ltd (ASX:IRC) continues to build its presence in the Western Australian goldfields, and has now completed the acquisition of 100% of the Anthill gold project.

The consideration is $300,000 cash and a $5 per ounce royalty capped at the first 100,000 ounces produced.

The current JORC 2004 Resource is 160,000 ounces.

The Mining Lease has now been transferred to Intermin, all mining information provided and final cash payments made.

Jon Price, managing director, commented:

"The company is now very much looking forward to commencing its first drilling program at Anthill this quarter after reviewing the geological database and identifying a number of extensional and new target opportunities.

"We will also be completing some validation drilling to confirm historic data that supported the quoted 160,000 ounce Resource Estimate.

"This will enable an updated JORC 2012 Resource estimate to be compiled in the December quarter."

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Thu, 06 Jul 2017 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180421/intermin-resources-ltd-wraps-up-acquisition-of-anthill-gold-project-180421.html
<![CDATA[News - Intermin Resources Ltd receives cash injection from options ]]> http://www.proactiveinvestors.com.au/companies/news/180261/intermin-resources-ltd-receives-cash-injection-from-options-180261.html Intermin Resources Ltd (ASX:IRC) has raised a total of $1.1 million after investors exercised a total of 14.8 million options.

The company issued the final 8 million shares today after receiving final option exercise forms.

The new shares relate to options, exercisable at $0.075 and expiring on 30 June 2017, issued as part of a non-renounceable rights issue in July 2015.

Intermin is in a strong financial position to self-fund all its growth initiatives and has a large drilling program commencing shortly.

The majority of the metres are allocated to pure discovery drilling on the Zuleika shear and Bardoc Tectonic Zone.

Jon Price, managing director, commented: “We thank holders for their continued support which, together with ongoing cash flow from our Teal Gold Mine, places the company in a strong financial position to deliver on its strategy of self-funding future mine developments, consolidating assets in the Western Australian Goldfields, growing our existing resource base and continuing the search for the next new gold discovery.”


Background

Intermin is currently gold mining at its 100% owned Teal Gold Mine located 11 kilometres north-west of Kalgoorlie-Boulder in Western Australia.

The gold mine is performing very well and on track to meet guidance by September/October.

As at mid-June 2017, five batches of ore had been delivered for which Intermin had received the first tranche payments under the ore sales agreement totalling $3.0 million.

Mining is part of the Teal Stage 1 operation, which the company believes will produce 15,000 to 16,000 ounces of gold.

The Teal Stage 1 open pit gold mine was originally estimated to be capable of producing 15,567 ounces of gold over 9 months for a capital cost of $3.9 million.

The company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions.

Intermin recently executed a formal joint venture agreement with Eastern Goldfields (ASX:EGS) covering the Menzies and Goongarrie Gold Projects.

The collaborative approach enables accelerated exploration and mining inventory growth to underpin dedicated processing infrastructure in the Menzies region for mutual benefit.

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Tue, 04 Jul 2017 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180261/intermin-resources-ltd-receives-cash-injection-from-options-180261.html
<![CDATA[News - Intermin Resources in-the-money options final trading day ]]> http://www.proactiveinvestors.com.au/companies/news/179784/intermin-resources-in-the-money-options-final-trading-day-179784.html Intermin Resources (ASX:IRC) has reminded its holders of options expiring 30 June 2017 that today is the last day to trade these options on the ASX.

The options are exercisable at $0.075, which means they are considered in-the-money, given the current share price is $0.092.

The options trade under the ASX ticker IRCO.

With circa 12.7 million options outstanding, if all options were to be exercised, this would theoretically provide a $950,000 cash injection for Intermin.

Options not exercised by 5pm (AWST) on 30 June 2017 will lapse.


Gold mining operations

Intermin is currently gold mining at its 100% owned Teal Gold Mine located 11 kilometres north-west of Kalgoorlie-Boulder in Western Australia.

As at mid-June 2017, five batches of ore had been delivered for which Intermin had received the first tranche payments under the ore sales agreement totalling $3.0 million.

Mining is part of the Teal Stage 1 operation, which the company believes will produce 15,000 to 16,000 ounces of gold.

The Teal Stage 1 open pit gold mine was originally estimated to be capable of producing 15,567 ounces of gold over 9 months for a capital cost of $3.9 million.

The company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions.

Intermin recently executed a formal joint venture agreement with Eastern Goldfields (ASX:EGS) covering the Menzies and Goongarrie Gold Projects.

The collaborative approach enables accelerated exploration and mining inventory growth to underpin dedicated processing infrastructure in the Menzies region for mutual benefit.

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Mon, 26 Jun 2017 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/179784/intermin-resources-in-the-money-options-final-trading-day-179784.html
<![CDATA[News - Intermin Resources generating strong cash flow from gold mine ]]> http://www.proactiveinvestors.com.au/companies/news/179189/intermin-resources-generating-strong-cash-flow-from-gold-mine-179189.html Intermin Resources (ASX:IRC) continues its gold mining operations at its 100% owned Teal Gold Mine located 11 kilometres north-west of Kalgoorlie-Boulder in Western Australia.

Five batches of ore have been delivered for which Intermin has received the first tranche payments under the ore sales agreement totalling $3.0 million.

Jon Price, managing director, commented: “We are now seeing consistent cash flow from Teal as we complete the northern section and begin ore mining in the south of the pit.

“It is extremely pleasing to see the grade of the ore tracking well against the resource model in both sections of the mine.

“In a healthy gold price environment, the team are focussed on the safe and efficient completion of Teal Stage 1 with cash proceeds to fund an aggressive exploration program, completion of the Goongarrie Lady feasibility study and the pursuit of further acquisitions.”


Operations update

Ore mining in the northern section of the Teal pit is largely complete and will continue on a single shift basis in the south until mine completion in September.

Five batches of ore have been delivered to the Paddington run of mine (RoM) pad totalling 51,000 dry tonnes at an average mine predicted grade of 3.0 g/t gold.

Intermin has received first tranche payments for all five batches in accordance with the ore sales agreement totalling $3.0 million.

Intermin continues to believe it will produce 15,000 to 16,000 ounces from Teal Stage 1.

Additional costs incurred on wall slip remediation, drill and blast and water management have resulted in a higher estimated all-in cost of $1,030 to $1,090 per ounce produced but Intermin is still generating strong margins at the current gold price.

Ore mining has commenced in the southern half of the pit with results from the grade control model in line with the resource model estimates.


Expanding gold production

Intermin is focussed on the Kalgoorlie and Menzies areas of Western Australia where it has total resources of 4.95 million tonnes grading 2.24 g/t gold for 355,741 ounces of gold.

The JORC resource estimate is spread across 7 different gold deposits, of which Teal is the most advanced being currently in production.

The Teal Stage 1 open pit gold mine within the Teal project was estimated to be capable of producing 15,567 ounces of gold over 9 months for a capital cost of $3.9 million.

The company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions.

Intermin recently executed a formal joint venture agreement with Eastern Goldfields (ASX:EGS) covering the Menzies and Goongarrie Gold Projects.

The collaborative approach enables accelerated exploration and mining inventory growth to underpin dedicated processing infrastructure in the Menzies region for mutual benefit.

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Wed, 14 Jun 2017 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/179189/intermin-resources-generating-strong-cash-flow-from-gold-mine-179189.html
<![CDATA[News - Intermin Resources gains Eastern Goldfields as substantial shareholder ]]> http://www.proactiveinvestors.com.au/companies/news/178930/intermin-resources-gains-eastern-goldfields-as-substantial-shareholder-178930.html Intermin Resources (ASX:IRC) has received a notice of initial shareholder from Eastern Goldfields (ASX:EGS), which holds a 6.05% stake.

The two companies recently entered a joint venture covering the Menzies and Goongarrie Gold Projects in Western Australia, With Intermin issuing the shares as part consideration.

The strategy is to increase resource inventory at Menzies and EGS’s Mount Ida project areas targeting high grade open cut and underground developments to underpin construction of a processing facility.

There is currently no processing infrastructure in the region, this facility could meet the processing needs of EGS, Intermin and other third parties.

The Goongarrie project area is in close proximity to EGS’s Davyhurst 1.2 million tonnes per annum processing facility currently undergoing refurbishment and recommissioning.

The plan is to conduct significant exploration and resource development drilling to augment ore feed for the mill for mutual benefit.

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Thu, 08 Jun 2017 08:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178930/intermin-resources-gains-eastern-goldfields-as-substantial-shareholder-178930.html
<![CDATA[News - Intermin Resources formalises joint venture agreement ]]> http://www.proactiveinvestors.com.au/companies/news/178602/intermin-resources-formalises-joint-venture-agreement-178602.html Intermin Resources (ASX:IRC) has executed the formal joint venture agreement with Eastern Goldfields (ASX:EGS) covering the Menzies and Goongarrie Gold Projects in Western Australia.

Intermin has issued 6.25 million shares priced at $0.12 and has received the $750,000 part two payment from EGS pursuant to the terms of the joint venture.

In addition, EGS has been issued 3.125 million options exercisable at $0.17 and expiring 31 August 2018.

The collaborative approach enables accelerated exploration and mining inventory growth to underpin dedicated processing infrastructure in the Menzies region for mutual benefit.


Joint venture strategic rationale

Both Intermin and EGS have significant land holdings in this region.

The strategy is to increase resource inventory at Menzies and EGS’s Mount Ida project areas targeting high grade open cut and underground developments to underpin construction of a processing facility.

There is currently no processing infrastructure in the region, this facility could meet the processing needs of EGS, Intermin and other third parties.

The Goongarrie project area is in close proximity to EGS’s Davyhurst 1.2 million tonnes per annum processing facility currently undergoing refurbishment and recommissioning.

The strategy is to conduct significant exploration and resource development drilling to augment ore feed for the mill for mutual benefit.


Agreement details

Details of the original heads of agreement from September 2016 between the parties include:

- EGS can earn 25% of the project areas by spending $2 million within a 2 year period and a further 25% by spending $2 million over the following 2 year period;
- EGS to solely contribute to further expenditure of $1.5 million on the projects inclusive of a bankable feasibility study to support a mill installation in the Mt Ida and Menzies region to earn a further 15%;
- EGS to invest $1.5 million in equity in Intermin;
- EGS will manage exploration with direction from JV representatives; and
- EGS and Intermin to execute a formal agreement in the next 60 days.

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Thu, 01 Jun 2017 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178602/intermin-resources-formalises-joint-venture-agreement-178602.html
<![CDATA[News - Intermin Resources receives first cash for gold production ]]> http://www.proactiveinvestors.com.au/companies/news/177755/intermin-resources-receives-first-cash-for-gold-production-177755.html Intermin Resources (ASX:IRC) has received its first cash payment for ore delivered from Intermin’s 100% owned Teal Gold Mine located near Kalgoorlie-Boulder in Western Australia.

Payment of $506,000 was received for the first batch of 9,700 dry tonnes of ore grading 2.7 g/t gold delivered to the Paddington Mill.

Haulage of the second and third batches has recently been completed with the fourth ore batch currently being stockpiled on the Teal run-of-mine (ROM) pad.

Jon Price, managing director, commented: “The Intermin team and our alliance partners, RM Contracting, are to be congratulated for their efforts that have culminated in the first ore delivery, gold production and cash flow from Teal.

“Intermin now enters an exciting period of continuous cash generation that will fund our aggressive exploration program and progress our growing production pipeline across projects at Goongarrie Lady, Teal and Anthill.”


Expanding gold production

Intermin is focussed on the Kalgoorlie and Menzies areas of Western Australia where it has total resources of 4.95 million tonnes grading 2.24 g/t gold for 355,741 ounces of gold.

The JORC resource estimate is spread across 7 different gold deposits, of which Teal is the most advanced being currently in production.

The company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions.


Analysis

The cash payment supports Intermin’s strategy of generating cash by developing 100% owned gold projects close to infrastructure.

Intermin is fortuitously positioned with a strong project pipeline that it intends to self-fund for business growth.

Funds from Teal Stage 1 will continue to be reinvested in exploration and resource development.

Drilling continues to increase the confidence in Intermin’s project pipeline with drilling results expected during the current June quarter from resource expansion programs.

During the calendar year, Intermin will be working towards making a development decision at its Goongarrie Lady gold deposit and a Teal State 2 scoping study.

Teal Stage 1 expects to generate circa A$8.6 million by recovering 15,567 ounces using a A$1,600 per ounce gold price.

Gold is currently trading at A$1,660 per ounce.

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Mon, 15 May 2017 10:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177755/intermin-resources-receives-first-cash-for-gold-production-177755.html
<![CDATA[News - Intermin Resources: Access latest PPT from Proactive's CEO Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/176390/intermin-resources-access-latest-ppt-from-proactive-s-ceo-sessions-176390.html Intermin Resources (ASX:IRC) managing director, Jon Price, joined Proactive's CEO Sessions in Melbourne on Tuesday, 11th April and Sydney on Wednesday, 12th April.

Intermin is set to become Australia's newest gold producer through an ore milling agreement.

The company is set for extensive near term newsflow from its 35,000 metre drilling program.

ACCESS THE FULL PRESENTATION HERE

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Thu, 13 Apr 2017 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/176390/intermin-resources-access-latest-ppt-from-proactive-s-ceo-sessions-176390.html
<![CDATA[News - Intermin Resources and partner Evolution Mining drilling for gold at Binduli ]]> http://www.proactiveinvestors.com.au/companies/news/175965/intermin-resources-and-partner-evolution-mining-drilling-for-gold-at-binduli-175965.html Intermin Resources' (ASX:IRC) partner, Evolution Mining (ASX:EVN), has commenced a 3500 metre drilling program at the Binduli Joint Venture gold project.

The project is located 5 kilometres from Kalgoorlie-Boulder in Western Australia, and comprises a 100 square kilometre tenement package.

There are several high priority prospects first defined in the 90’s that have received little exploration for over 20 years.

Binduli is just along strike from Intermin's wholly-owned Teal gold project, where stage 1 has already entered production.

Jon Price, managing director for Intermin, commented:

"We believe that the region immediately south and southwest along strike from our Teal gold project is very much under-explored and that there are significant discoveries to be made.

"This is the first drill program since inception of the joint venture and significant new information relating to mineralising structures seen within the Teal gold project is now available to assist Evolution with regional interpretation and targeting."


Drilling timeline

The aircore drilling program is underway, and will cover 3500 metres across up to 67 holes, and take around three weeks.

The plan is to confirm historic mineralisation and explore for extensions.

Under the terms of the Binduli Joint Venture Agreement, Evolution can earn 70% of the project by spending $4.6 million over 5 years.

Evolution is manager of the project.

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Wed, 05 Apr 2017 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/175965/intermin-resources-and-partner-evolution-mining-drilling-for-gold-at-binduli-175965.html
<![CDATA[News - Intermin Resources reveals cash flow potential for Goongarrie Lady ]]> http://www.proactiveinvestors.com.au/companies/news/175578/intermin-resources-reveals-cash-flow-potential-for-goongarrie-lady-175578.html Intermin Resources (ASX:IRC) has delivered a Scoping Study which identifies Goongarrie Lady as a technically strong and financially viable project.

Jon Price, managing director, commented: "The results of the Scoping Study for Goongarrie Lady demonstrate strong potential to generate significant cash flow for the business with low upfront capital requirements and very good cash margins."

Key outcomes:

- Oxide and transitional material accessed via shallow open pit mining producing 142,000 tonnes at a diluted grade of 3.40g/t for 15,639 ounces over a 7 month mine life;
- Ore processing at 94% metallurgical recovery produces 14,700 ounces recovered;
- Low upfront capital costs of A$0.53 million;
- Competitive all in cost estimate of A$1,081 an ounce; and
- At a gold price of A$1,600 an ounce, the project generates A$7.6 million in free cash flow.

The study assumes contract mining and haulage with ore milled at a nearby third party facility.

Statutory approvals are on track, with a Feasibility Study commenced for completion in the September quarter 2017.

Goongarrie Lady is located on Mining Lease M29/420, and is 80 kilometres north of Kalgoorlie-Boulder in Western Australia, and 2 kilometres east of the sealed Goldfields Highway.


Analysis

Intermin's business model is to develop its wholly-owned gold assets and generate cash flow.

This helps in the transition to being a self-funded explorer, and therefore reduces shareholder dilution from capital raisings.

The Teal gold mine is now in production, and Goongarrie Lady is shaping up as Intermin’s next mine.

With cash margins over 45%, the board has approved completion of the full Feasibility Study.

This will be self-funded and include further infill drilling to improve geological confidence / reduce risk to establish a maiden Reserve from JORC Measured category.

The drilling will also target additional ore from areas still in the inferred category to grow the project.


Find out more from Jon Price at Proactive's CEO Sessions.

Click on city below to register by email

- Melbourne: Tuesday 11th April.
- Sydney: Wednesday 12th April.
- Email Pauline here.
- Call office on (02) 9280 0700.

Presenter list

- Intermin Resources (ASX:IRC): MD Jon Price
- Southern Gold (ASX:SAU): MD Simon Mitchell
- Proteomics International Laboratories (ASX:PIQ): MD Richard Lipscombe
- Dimerix (ASX:DXB): CEO Kathy Harrison
- Novogen (ASX:NRT): CEO Dr James Garner (Presenting in Melbourne only)
- Aspire Mining (ASX:AKM): MD David Paull (Presenting in Sydney only)

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Wed, 29 Mar 2017 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/175578/intermin-resources-reveals-cash-flow-potential-for-goongarrie-lady-175578.html
<![CDATA[News - Intermin Resources more than doubles gold resource at Teal ]]> http://www.proactiveinvestors.com.au/companies/news/175179/intermin-resources-more-than-doubles-gold-resource-at-teal-175179.html Intermin Resources (ASX:IRC) has updated its JORC resource estimate for its 100% owned Teal gold project area located 11 kilometres north of Kalgoorlie-Boulder in Western Australia.

The project’s total resource increased by 120% to 2.26 million tonnes grading 2.19 g/t gold for 159,390 ounces.

This is the results of a successful drilling program in the December quarter which generated maiden resources at Peyes Farm and at the Jacques Find discovery 600 metres south of the Teal Stage 1 gold mine currently in production.

Mine optimisation studies are now underway for Teal Stage 2 and Peyes Farm focused on extensions to the supergene and transitional material that are free milling.

Jon Price, managing director, commented: “Teal is becoming a very exciting new mining precinct only 11 kilometres north of Kalgoorlie-Boulder.

“We now look forward to expanding these Resources further along strike and at depth and completing mining studies to bring these projects into our production pipeline.”


Teal resource details

The Teal gold project’s total resource is comprised of four deposits: Teal Pit, Teal (excluding Teal Pit), Peyes Farm and Jacques Find.

Mineralisation at Teal, Peyes Farm and Jacques Find is interpreted to occur in similar geological settings along strike and in parallel primary lodes and are open in all directions.

The combined resource is significant and has now been defined to occur for over 2 kilometres in strike length and to a maximum vertical depth of 250 metres in some zones.

The large areal extent of mineralisation, the presence of multiple parallel lodes and high grades suggest there is potential to define a significantly larger open pit or underground resource with further drilling.


Optimisation studies and follow up drilling plans

The updated resource will now be used to inform an engineering scoping study into the potential for an expansion to the current Teal mining operations known as Teal Stage 2.

Further test work is required to determine the optimal processing route for Teal primary mineralisation and to generate initial metallurgical results for Peyes Farm and Jacques Find.

Diamond drill core samples from holes completed during the 2016 exploration programs will be used for this work.

The next drilling program will commence in the June quarter and focus on infill drilling at Goongarrie Lady, Teal Stage 2 and Anthill to progress the mining pipeline studies.

It will also include a large scale exploration program searching for the next big discovery with priority targets at Blister Dam, Windanya, Olympia and Anthill extended.


Analysis

This resource upgrade outlines the significant potential the Teal gold project has to expand operations from the recently producing Stage 1 open pit mine, which is forecast to recover 15,567 ounces of gold grading 3.2 g/t and generate $8.6 million in cash.

First ore was recently mined from the northern section of the pit and has been delivered to the run-of-mine (ROM) pad, where is will be hauled to the Paddington mill.

Intermin’s strategy is to grow its JORC gold resources through infill, extensional and grass roots exploration and complete feasibility studies on core projects to build a sustainable production profile.

The 2016 drilling programs have delivered solid results and the drilling has converted into increased resources at a competitive discovery cost of under $10 per ounce.

Intermin shares are up 20% in 2017 currently priced at $0.12.

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Wed, 22 Mar 2017 12:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/175179/intermin-resources-more-than-doubles-gold-resource-at-teal-175179.html
<![CDATA[News - Intermin Resources gets ready to haul first gold ore to mill ]]> http://www.proactiveinvestors.com.au/companies/news/175026/intermin-resources-gets-ready-to-haul-first-gold-ore-to-mill-175026.html Intermin Resources (ASX:IRC) is preparing to track its first load of mined gold ore to the Paddington mill from its wholly owned Teal Gold Mine located near Kalgoorlie.

First ore was mined from the northern section of the pit and has been delivered to the run-of-mine (ROM) pad.

The mine is forecast to recover 15,567ounces of gold grading 3.2 g/t and generate $8.6 million in cash.

Jon Price, managing director, commented:

"First gold production at Teal is a significant milestone for the company and opens up a new mining centre in the Western Australian goldfields given the significant exploration success to date.

"We now look forward to continuous production that will generate cash to grow the business through self-funded exploration and development of our mining pipeline."


Mining details

Development of the project commenced in November 2016 with waste overburden removal focussed on the northern section of the pit to access the ore closest to surface and to enable uninterrupted mining during grade control drilling.

In February, the mining fleet moved to the southern section enabling grade control drilling in the north which is now complete.

Trucking to the Paddington mill will begin shortly with ore deliveries to continue for the next 18 weeks with Stage 1 completion expected in July with final ore sales in August this year.

Severe rainfall and flooding occurred in the Goldfields during January and February which impacted access to the mine for more than two weeks.

Although no major damage occurred, considerable clean-up was required on re-entry to the mine site. Ground conditions have improved considerably since this time and mining is progressing well.


Background

Intermin has a number of quality gold assets in the world class gold mining region surrounding Kalgoorlie-Boulder in Western Australia.

The company’s flagship projects are the 100% owned Menzies and Teal projects which host significant mineralisation and have the potential to be mined via open cut and underground methods.

The company also recently agreed to acquire the Anthill gold project located in the Kalgoorlie region.

Intermin has signed a binding heads of agreement with Eastern Goldfields Ltd (ASX:EGS) with regard to its Menzies and Goongarrie gold projects.

The company also has interests in a vanadium-molybdenum project in northwest Queensland.


Analysis

Production of the first gold ore from Teal Stage 1 is a significant step forward and achievement for Intermin.

Furthermore, it will provide the company with sustainable cash flow which will be used to generate news flow through 2017.

Funding will be used to:

- Accelerate brownfields exploration drilling at 100% owned projects Blister Dam, Windanya, Olympia, Anthill extended and Kanowna North;
- For resource extensions at Teal, Peyes Farm and Jacques Find; and
- For infill drilling in preparation for mine development pipeline projects at Goongarrie Lady, Teal Stage 2 and Anthill.

This is in line with the company’s strategy to grow its JORC-compliant resources through infill, extensional and grass roots exploration and complete feasibility studies on core projects to build a sustainable production profile.

Intermin shares are up 20% in 2017 currently priced at $0.12.

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Mon, 20 Mar 2017 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/175026/intermin-resources-gets-ready-to-haul-first-gold-ore-to-mill-175026.html