http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Fri, 24 Mar 2017 19:03:12 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![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
<![CDATA[News - Intermin Resources acquires gold project near Kalgoorlie ]]> http://www.proactiveinvestors.com.au/companies/news/174425/intermin-resources-acquires-gold-project-near-kalgoorlie-174425.html Intermin Resources (ASX:IRC) has signed a binding agreement to acquire the Anthill gold project located 54 kilometres northwest of Kalgoorlie-Boulder in Western Australia.

The project is on the Zuleika Shear in the Western Australian goldfields and is 10 kilometres from Intermin’s 100% owned Blister Dam project.

Anthill contains a JORC (2004) resource of 160,000 ounces gold and data review is now underway with drilling planned for the current June quarter.

Limited drilling has been completed over the last 5 years with historical drilling demonstrating broad high grade zones in the upper areas and high grade intercepts at depth.

Jon Price, managing director, commented: “The project is a fantastic addition to our portfolio and lies within multi-million ounce gold camps on the Zuleika and Carnage shear zones where recent new discoveries have been made by the major producers in close proximity.”


Anthill acquisition

Intermin has agreed to pay $300,000 cash for the project comprised of $50,000 upfront and $250,000 due by June 30 2017. It will also pay a $5 per ounce royalty on the first 100,00 ounces mined.

The project consists of one granted mining lease and one miscellaneous license for haulage covering an area of 7 square kilometres.

The previous owners, Metaliko Resources Ltd, a subsidiary of Echo Resources (ASX:EAR) has quoted Anthill as containing 5.18 million tonnes at 1.0 g/t gold for 160,000 ounces of gold at a 0.5 g/t gold cut-off.

Drilling reported on the project in 2011 contained significant broad intercepts from both infill drilling and drilling outside the current resource envelope.

These down-hole results included:

- 44 metres at 2.4 g/t gold from 56 metres;
- 42 metres at 2.1 g/t gold from 50 metres;
- 38 metres at 1.9 g/t gold from 52 metres;
- 6 metres at 6.1 g/t gold from 40 metres; and
- 32 metres at 1.8 g/t gold from 89 metres.

Drilling from 2002-2003 included high grade intercepts including 1 metre at 88.9 g/t gold and 5 metres at 19.25 g/t gold.

Drilling has defined a mineralised zone that extends from surface to over 200 metres depth.

The deeper parts of the mineralisation zone are only tested by a small number of drill holes and its depth extent remains open.


Next steps

Intermin will now conduct a detailed assessment of the database and all geological information for the project and plan a drilling program.

The drilling objective will be to confirm the quoted resource to JORC (2012) standard and to test extensions to mineralisation along strike, at depth and on parallel structures.


Analysis

Anthill is a good addition to Intermin’s portfolio as it is in an area surrounded by major gold miners who have delivered a number of new discoveries through targeted drilling.

It expands Intermin’s portfolio which contains a number of quality gold assets in the world class gold mining region surrounding Kalgoorlie-Boulder in Western Australia.

The project is located immediately along strike from high grade gold camps including Bullant (+1.0 million ounces), Broads Dam (+4.0 million ounces), Kundana (+5.0 million ounces) and Frogs Leg (+1.5 million ounces).

With mining at the Teal Stage 1 open pit gold operation advancing, Intermin is shaping up for a busy 2017.

The small open pit gold project is capable of producing 15,567 ounces of gold over 9 months for a capital cost of $3.9 million.

Intermin shares are up  40% over the past 12 months, currently trading at $0.10.

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Wed, 08 Mar 2017 12:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/174425/intermin-resources-acquires-gold-project-near-kalgoorlie-174425.html
<![CDATA[News - Intermin Resources defines gold mineralisation from regional exploration ]]> http://www.proactiveinvestors.com.au/companies/news/173958/intermin-resources-defines-gold-mineralisation-from-regional-exploration-173958.html Intermin Resources (ASX:IRC) recently completed reconnaissance drilling programs at some regional prospects, which included the wholly-owned Blister Dam, Baden Powell and Janet Ivy South, located near Kalgoorlie in Western Australia.

Jon Price, managing director, commented:

"These exciting projects have had little to no modern exploration and we look forward to completing further drilling at all prospects as part of our large 2017 program commencing in the June quarter."

Highlights include:

- 21 metres at 0.92g/t gold from 55 metres at Blister Dam;
- 4 metres at 3.13g/t gold from 80 metres at Blister Dam;
- 14 metres at 1.52g/t gold from 25 metres at Baden Powell;
- 5 metres at 1.42g/t gold from 22 metres at Baden Powell;
- 3 metres at 4.87g/t gold from 40 metres at Janet Ivy South; and
- 2 metres at 3.32g/t gold from 35 metres at Janet Ivy South.


Analysis

The key outcomes from the regional drilling is the definition of a new high priority, untested, 4 kilometre long gold in soil anomaly located 2 kilometres northeast of and parallel to the Baden Powell prospect.

Now underway is target generation and prospect assessment for all of the company's granted tenure.

This is expected to be finalised in early April 2017.

Upcoming news flow

- Teal production/mining updates;
- Goongarrie Lady gold deposit scoping study results; and
- New regional gold exploration targets and drilling plans.

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Wed, 01 Mar 2017 08:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/173958/intermin-resources-defines-gold-mineralisation-from-regional-exploration-173958.html
<![CDATA[News - Intermin Resources intersects shallow oxide gold at Goongarrie Lady ]]> http://www.proactiveinvestors.com.au/companies/news/173092/intermin-resources-intersects-shallow-oxide-gold-at-goongarrie-lady-173092.html Intermin Resources (ASX:IRC) has received assays from its five hole, 264 metre reverse circulation program at its 100% owned Goongarrie Lady gold project located 90 kilometres from Kalgoorlie-Boulder in Western Australia.

Significant shallow oxide intercepts include 11 metres at 5.36 g/t gold from 29 metres depth.

The results validate historic results from drill programs in the 1990s and have increased geological confidence in the resource model allowing it to advance to the next phase.

The project is shaping up as the next development opportunity after the Teal Stage 1 gold operation which will be in production this month despite heavy rainfall in the goldfields.

A scoping study at Goongarrie Lady for the development of a shallow open cut mine with ore haulage and treatment at third party facilities is on track for completion in the current March quarter.

Jon Price, managing director, commented:

"Goongarrie Lady is shaping up nicely as our next project in the production pipeline after Teal Stage 1 and has the potential to become a shallow low strip ratio oxide pit with good grade and lower capital development costs."


Drill result details

Drill results are from a reverse circulation drill program completed in the December quarter at the 100% owned Goongarrie Lady gold project.

Significant shallow oxide intercepts include:

- 11 metres at 5.36 g/t gold from 29 metres including 1 metre at 23.60 g/t gold;
- 1 metre at 19.90 g/t gold from 33 metres;
- 2 metres at 5.91g/t gold from 33 metres; and
- 2 metres at 3.01g/t gold from 37 metres.

The five-hole program was also positioned to provide representative metallurgical samples from across the known resource and samples for waste characterisation analysis.


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 Teal Stage 1 open pit gold mine within the Teal project represents a near term opportunity for gold production.

The small open pit gold project is capable of producing 15,567 ounces of gold over 9 months for a capital cost of $3.9 million.

During 2016, Intermin 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.


Goongarrie Lady

The Goongarrie Lady project is located on a granted mining lease within the prospective Bardoc Tectonic Zone that extends north from Kalgoorlie to Menzies.

The current JORC resource stands at 270,000 tonnes grading 2.9 g/t for 25,000 ounces of gold and is predominantly comprised of oxide mineralisation.

Julia Mines Ltd mined a small oxide pit at the Goongarrie Lady deposit in 1989 with 28,606 tonnes grading 2.7g/t gold extracted before a pit wall collapse and flooding event caused the cessation of mining.

The current resource will now be re-optimised using the latest costs and metallurgy test work has commenced to confirm historical recoveries in the low to mid 90s.

Key activities underway at Goongarrie Lady include:

- Infrastructure and services requirements;
- Estimate of haulage, processing and technical services costs;
- Capital cost estimate;
- Pit optimisation study and pit design; and
- Mining proposal and mine closure plan.


Analysis

With mining at the Teal Stage 1 open pit operation scheduled to begin this month, Goongarrie Lady provides Intermin with a valuable opportunity for a second near-term gold mining operation.

Statutory approval activity for mine development is well advanced and a number of key activities are underway at the project.

Furthermore, the deposit is positioned close to established milling infrastructure with potential ore haulage routes available on an existing road network enabling reduced haulage capital cost estimates.

Three mills are located within 100 kilometres of the project with the Paddington mill located 60 kilometres to the south and the Davyhurst mill located 70 kilometres west.

Intermin shares are up over 70% over the past 12 months, currently trading at $0.12.

Investors remain leveraged to news flow in the short term regarding:

- Teal production/mining updates;
- Regional exploration results; and
- New regional exploration targets and drilling plans.

Further resource confirmation drilling, quality assessment and a geological interpretation review is planned upon completion of the current engineering scoping study to identify areas of the deposit requiring additional data.

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Tue, 14 Feb 2017 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/173092/intermin-resources-intersects-shallow-oxide-gold-at-goongarrie-lady-173092.html
<![CDATA[News - Intermin Resources strengthens open-pit potential at Jacques Find ]]> http://www.proactiveinvestors.com.au/companies/news/172819/intermin-resources-strengthens-open-pit-potential-at-jacques-find-172819.html Intermin Resources (ASX:IRC) has once again revealed high-grade gold drilling results from one of its assets located near Kalgoorlie-Boulder in Western Australia.

A follow-up drilling program of 15 holes over 1900 metres focused on extensions along strike and at depth at Jacques Find, which is located 500 metres from Intermin's Teal gold mine.

Highlights included:

- 5 metres at 6.94g/t gold from 89 metres;
- 6 metres at 5.18g/t gold from 143 metres;
- 7 metres at 3.47g/t gold from 115 metres; and
- 6 metres at 3.44g/t gold from 122 metres.

Jon Price, managing director, said Jacques Find continues to demonstrate high grade open cut and underground potential and remains open in all directions.

"As with the recent Peyes Farm results, our geological understanding has grown significantly in this new mining centre and we are discovering multiple lodes with good width and grade boding well for Resource estimation and planned mine development studies."


Next steps

Intermin now has data review and modelling underway to complete a maiden resource estimate before the end of March 2017.

Expansion drilling will follow.


Analysis

The more Intermin is drilling out the entire Teal project area, the more the company will be learning and finding.

The area has the potential to be a very large mineralised system suitable for both open cut and underground mining.

Additional metallurgical test work is also underway to assess the optimal processing pathway for the oxide and primary mineralisation.

The next program is planned for early April.

Intermin will also now focus on producing the first ore from Teal Stage 1 and becoming cash positive.

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Wed, 08 Feb 2017 12:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/172819/intermin-resources-strengthens-open-pit-potential-at-jacques-find-172819.html
<![CDATA[News - Intermin Resources director lifts stake through option exercise ]]> http://www.proactiveinvestors.com.au/companies/news/172656/intermin-resources-director-lifts-stake-through-option-exercise-172656.html Hughes exercised 562,085 $0.075 options (June 2017 expiry) for a consideration of circa $42,000.

Intermin shares last traded at $0.11.

Hughes now has a direct and indirect stake of over 2.5 million shares, along with several lines of listed and unlisted options.

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.

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Mon, 06 Feb 2017 11:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/172656/intermin-resources-director-lifts-stake-through-option-exercise-172656.html
<![CDATA[News - Intermin Resources gold assays extend mineralisation ]]> http://www.proactiveinvestors.com.au/companies/news/172462/intermin-resources-gold-assays-extend-mineralisation-172462.html Intermin Resources (ASX:IRC) has intersected significant high grade gold at the 100% owned Peyes Farm gold prospect within the Teal gold project, 11 kilometres from Kalgoorlie.

Results extend mineralisation along strike and at depth from high grades intercepted in the August 2016 program.

Highlights include 13 metres at 5.42 g/t gold from 55 metres depth.

Peyes Farm is located 600 metres from the Teal gold mine, where first production is expected shortly and 200 metres from the new Jacques Find discovery.

A maiden resource estimate is expected in the current March quarter.

Jon Price, managing director, commented: “As we bring Teal into production in the next few weeks, it is extremely pleasing to see the significant opportunity to further expand our resource base in this exciting new mining centre.”


Drill result details

The follow up reverse circulation drill program is complete and comprised 46 holes for 3,796 metres.

It was designed to further extend gold mineralisation both along strike and at depth outside of the current mineralised envelope.

Significant high grade gold mineralisation was intersected including:

- 13 metres at 5.42 g/t gold from 55 metres;
- 9 metres at 5.14 g/t gold from 82 metres;
- 6 metres at 5.10 g/t gold from 44 metres;
- 1 metres at 29.7 g/t gold from 69 metres;
- 6 metres at 3.29 g/t gold from 68 metres; and
- 8 metres at 2.31 g/t gold from 80 metres.

The program returned numerous high grade intercepts and the mineralisation now spans 500 metres along strike.

Data review and modelling is underway for further extensional drilling in the June quarter.


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 Teal Stage 1 open pit gold mine within the Teal project represents a near term opportunity for gold production.

The company recently completed site mobilisation and commenced pre-strip mining.

The small open pit gold project is capable of producing 15,567 ounces of gold over 9 months for a capital cost of $3.9 million.

Intermin recently 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

The infill and extensional drilling at Peyes Farm has produced encouraging results and the drill program’s value will be further realised in the pending maiden JORC resource.

Intermin is fortunate to be located in close proximity to three ideal processing plants in Kalgoorlie and the company will continue discussions with the third party owners.

With Teal oxide extensions and Teal deeps shaping up, the area, together with the nearby Peyes Farm and the new Jacques Find projects, is fast becoming a new mining centre.

Intermin shares are up over 80% over the past 12 months, currently trading at $0.11.

Investors remain leveraged to news flow in the short term regarding:

- Jacques drilling results;
- Teal production/mining updates;
- Regional exploration results;
- Pit optimisation results for Goongarrie Lady;
- New regional exploration targets and drilling plans; and
- Investor road shows planned for February and March 2017.

All is in place for ore delivery from Teal Stage 1 to Paddington over the coming weeks, which will complete Intermin’s transition to gold producer.

Production after that time is expected to be continuous at circa 30,000-40,000 tonnes per month.

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Wed, 01 Feb 2017 14:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/172462/intermin-resources-gold-assays-extend-mineralisation-172462.html
<![CDATA[News - Intermin Resources drills out gold mineralisation extensions ]]> http://www.proactiveinvestors.com.au/companies/news/171770/intermin-resources-drills-out-gold-mineralisation-extensions-171770.html Intermin Resources (ASX:IRC) has received final drill results from its 33 hole program at the 100% owned Teal gold project located 11 kilometres from Kalgoorlie-Boulder in Western Australia.

Results include 16 metres at 4.06 g/t gold from 73 metres depth.

The program comprised 33 reverse circulation holes for 3,941 metres and 10 diamond tails for 921.3 metres.

The program was designed to intersect gold mineralisation beneath the current Teal Stage 1 pit and south along strike, named Teal South.

An updated resource estimate is expected in the current March quarter.

Intermin is also expecting first gold production from Teal Stage 1 in the coming weeks.

Jon Price, managing director, commented: “The diamond drilling, in particular, has given us a much clearer understanding of structural controls on the mineralisation and will assist with our modelling and targeting for the next drilling campaign.

“Teal Deeps is only just starting to show its hand and will be a key focus for the company going forward.”


Drill result details

Significant results from the drill program include:

- 16 metres at 4.06 g/t gold from 73 metres including 9 metres at 5.37g/t gold;
- 15 metres at 4.24 g/t gold from 130m including 7 metres at 5.54 g/t gold;
- 3 metres at 12.04 g/t gold from 80 metres;
- 3 metres at 4.96 g/t gold from 50 metres;
- 2 metres at 14.15 g/t gold from 72 metres;
- 2 metres at 9.81 g/t gold from 97 metres; and
- 1.61 metres at 17.80 g/t gold from 215.39 metres.
The program returned numerous high grade hits providing Intermin with significant encouragement to pursue an aggressive follow up exploration program in the June quarter.

Multiple sub-vertical parallel lodes have been identified with good width and grade and now more continuous along section.

Additional metallurgical test work will also be undertaken to determine the materials amenability to conventional free milling, roasting and ultra-fine grinding extraction methods.

The drilling results in general indicate typical grade variability seen in economic deposits of this type with most mineralisation visually identified in the core.


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 Teal Stage 1 open pit gold mine within the Teal project represents a near term opportunity for gold production.

The company recently completed site mobilisation and commenced pre-strip mining.

The small open pit gold project is capable of producing 15,567 ounces of gold over 9 months for a capital cost of $3.9 million.

Intermin recently 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

Drilling has proved successful for Intermin both along strike to the south and at depth.

Furthermore, thanks to the diamond tails, the company is now getting a clearer understanding on structural control on the mineralisation.

Drill has clearly demonstrated the underground potential and further drilling will be completed in the June quarter.

Intermin is fortunate to be located in close proximity to three ideal processing plants in Kalgoorlie and the company will continue discussions with the third party owners.

With Teal oxide extensions and Teal deeps shaping up, the area, together with the nearby Peyes Farm and the new Jacques Find projects, is fast becoming a new mining centre.

Intermin shares are up over 80% over the past 12 months.

Investors remain leveraged to news flow in the short term regarding:

- Teal production/mining updates;
- Regional exploration results; and
- New pit optimisation results.

All is in place for ore delivery to Paddington over the coming weeks, which will complete Intermin’s transition to gold producer.

Production after that time is expected to be continuous at circa 30,000-40,000 tonnes per month.

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Wed, 18 Jan 2017 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/171770/intermin-resources-drills-out-gold-mineralisation-extensions-171770.html
<![CDATA[News - Intermin Resources acquires advanced drill targets near Kalgoorlie ]]> http://www.proactiveinvestors.com.au/companies/news/171508/intermin-resources-acquires-advanced-drill-targets-near-kalgoorlie-171508.html Intermin Resources (ASX:IRC) has acquired the Kanowna North gold project and new exploration tenure at the Yarmony project located in the Kalgoorlie-Boulder region of Western Australia.

Kanowna North lies over prospective shear zones and granite-greenstone contacts where only limited reconnaissance style drilling has occurred.

The project is highly mineralised and local prospectors have reported the recovery of significant gold nuggets from surface metal detecting and grading activity over a continuous 2 kilometre long strike zone.

Kanowna North comprises one granted mining licence and two granted prospecting licences covering 275.35 hectare.

The new tenure at Yarmony extends the continuous strike length of the project to 15 kilometres.

Significant shallow gold has been intersected in historic auger and aircore drilling at the priority Echidna and Alligator prospects within the extensional ground at Yarmony.

Jon Price, managing director, commented: “The new projects add to our 100% owned asset base and provide us with multiple new advanced drilling targets to test and grow our resource profile.”


Kanowna North

The project has been purchased on a 100% basis from a prospecting consortium for the consideration of 500,000 Intermin shares at a deemed price of $0.10 per share.

The Kanowna North project is located 17 kilometres northwest of the 10+ million ounce Kanowna Belle Mining Complex and 9 kilometres south of the 1+ million ounce Mulgarrie Mining Complex.

Very little systematic gold exploration has been conducted since some shallow geochemical drilling and one reverse circulation drill hole was undertaken between1994 and 1996.

Data compilation has commenced and field checking historic drill hole collar locations and workings will be undertaken in January followed by the submission of program of work documents for government approval.


Yarmony project extension

The exploration tenement E16/470 to extend the Yarmony project has been purchased on a 100% basis in consideration of 75,000 Intermin shares at a deemed price of $0.10 per share.

E16/470 is located 49 kilometres northwest of Coolgardie and 12 kilometres southwest of the Dunnsville mining centre.

The largest and most prospective prospects within E16/470 are the Alligator and Echidna prospects which appear to trend north into Intermin’s existing project tenements.

Data compilation has commenced and field checking of historical drill hole collars and workings will be undertaken in the March quarter with other regional projects.

Furthermore, Intermin has submitted another application for exploration tenure to further extend the Yarmony project.


Analysis

The Kanowna North gold project has a significant location as it sits between a 10 million ounce gold mining complex and 1+ million ounce gold mining complex just 35 kilometres from Kalgoorlie.

The prospecting consortium that held the project since the early 1990s have recovered a number of gold nuggets which are believed to come from a nearby source.

The area has had little to no modern exploration to search for the source and with the data review having commenced, drilling will be able to commence around early April.

Intermin shares are up 85% over the past 12 months, currently trading at $0.10.

Intermin is expecting ore from the flagship Teal Gold Mine located near Kalgoorlie to be delivered to the Paddington Mill at the end of January.

This will complete Intermin’s transition into Australia’s newest gold producer.

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Thu, 12 Jan 2017 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/171508/intermin-resources-acquires-advanced-drill-targets-near-kalgoorlie-171508.html
<![CDATA[News - Intermin Resources prepares for first ore from Teal gold mine ]]> http://www.proactiveinvestors.com.au/companies/news/171369/intermin-resources-prepares-for-first-ore-from-teal-gold-mine-171369.html Intermin Resources (ASX:IRC) is expecting ore from the Teal Gold Mine located near Kalgoorlie to be delivered to the Paddington Mill at the end of January.

Mining at Teal is progressing well despite heavy rain in December and waste pre-stripping to the grade control level in northern half of the pit has been completed.

Mining is now ramping up with two excavators on double shifts in both northern and southern sections of the pit.

Grade control drilling has commenced with an updated model expected in 2-3 weeks.

Jon Price, managing director, commented: “Despite some wet weather, it is pleasing to see mining advance and grade control drilling commence paving way for first ore production.

“We expect the project to become cash positive in the March quarter as we advance our second mine at Goongarrie Lady in 2017.”


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 Teal Stage 1 open pit gold mine within the Teal project represents a near term opportunity for gold production.

The company recently completed site mobilisation and commenced pre-strip mining.

The small open pit gold project is capable of producing 15,567 ounces of gold over 9 months for a capital cost of $3.9 million.

Intermin recently 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

All is in place for ore delivery to Paddington at the end of January, which will complete Intermin’s transition to gold producer.

Production after that time is expected to be continuous at circa 30,000-40,000 tonnes per month.

The gold price has recovered recently meaning Intermin will be selling its gold market currently priced at over A$1,600 per ounce which will help the company bank around $8 million this year.

Intermin’s next mine, Goongarrie Lady, is advancing well and an update on the feasibility study progression is expected shortly.

The company’s share price has more than doubled over the past 12 months, currently priced at $0.11.

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Tue, 10 Jan 2017 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/171369/intermin-resources-prepares-for-first-ore-from-teal-gold-mine-171369.html
<![CDATA[News - Intermin Resources managing director lifts stake on-market ]]> http://www.proactiveinvestors.com.au/companies/news/170954/intermin-resources-managing-director-lifts-stake-on-market-170954.html Price purchased 105,000 for circa $10,000, increasing his stake to over 1.7 million shares, with several lines of options.

Intermin is focused on gold in the Kalgoorlie and Menzies areas of Western Australia, and also has interests in a vanadium-molybdenum project in northwest Queensland.

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Wed, 28 Dec 2016 07:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/170954/intermin-resources-managing-director-lifts-stake-on-market-170954.html
<![CDATA[News - Intermin Resources secures free carry at vanadium-molybdenum project ]]> http://www.proactiveinvestors.com.au/companies/news/170360/intermin-resources-secures-free-carry-at-vanadium-molybdenum-project-170360.html Intermin Resources (ASX:IRC) has executed a binding agreement to bring in a joint venture partner at its 100% owned Richmond vanadium-molybdenum project in northwest Queensland.

The heads of agreement will see AXF Resource Pty Ltd sole fund and manage up to $6 million of technical beneficiation and commercialisation studies over four years to earn a 75% interest.

Intermin will be free carried until the study completion and AXF is also to subscribe to $430,000 worth of Intermin shares.

Sample collection and further beneficiation test work is to commence in the March quarter.

Jon Price, managing director, commented:

"Richmond is a multi-billion tonne project that requires significant funding and focus to take it forward so we are delighted to be working with the highly credentialed AXF team to advance a technical and commercial outcome."


Richmond project

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.


Heads of agreement details

Details of the binding heads of agreement between the parties include:

- An earn in joint venture (JV) whereby AXF can earn 25% of the project area by spending A$1 million within a 1 year period and maintaining the project in good standing;
- AXF to solely contribute to further expenditure of $5 million on the projects to earn a further 50% over a 3 year period;
- AXF to invest A$430,000m in equity in Intermin at $0.12 with a 1:2 option with a strike of $0.17 and expiry of 31 August 2018 (being the shortfall component of the recently announced share purchase plan);
- During the sole funding period, AXF will manage the exploration program and tenure with direction from the JV committee comprising representatives from both parties;
- Upon AXF satisfying the earn in terms, each party will contribute to ongoing expenditure in accordance with their respective percentages; and
- AXF and IRC to execute a formal agreement in the next 60 days.


Analysis

The joint venture agreement is a significant achievement for Intermin as it leverages it to additional commodities and exploration success at a project without expenditure.

A considerable amount of drilling and beneficiation work has been completed by Intermin over the last 7-8 years and the project is now at a stage where it needs considerable funding and technical focus to move to the next stage of beneficiation and commercialisation studies.

AXF Resources are a 100% subsidiary of the Chinese backed AXF Group and have significant technical expertise, funding and access to potential off-take partners in China.

Steel makers in Asia are looking to vertically integrate and having a very large scale vanadium-molybdenum resource in place close to market at Richmond provides potential to unlock value alongside the growing gold business.

AXF will fund up to $6 million in beneficiation and commercial development work to bring the project to the next development stage.

The key is unlocking the metallurgy and drilling for additional material and a large mineral dressing test-work program will commence in the March quarter.

Intermin shares have more than doubled year to date, currently trading at $0.11.


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 Teal Stage 1 open pit gold mine within the Teal project represents a near term opportunity for gold production.

The company recently completed site mobilisation and commenced pre-strip mining.

The small open pit gold project is capable of producing 15,567 ounces of gold over 9 months for a capital cost of $3.9 million.

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

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Tue, 13 Dec 2016 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/170360/intermin-resources-secures-free-carry-at-vanadium-molybdenum-project-170360.html
<![CDATA[News - Intermin Resources Ltd makes new gold discovery close to Teal mine ]]> http://www.proactiveinvestors.com.au/companies/news/169638/intermin-resources-ltd-makes-new-gold-discovery-close-to-teal-mine-169638.html Intermin Resources Ltd (ASX:IRC) has intersected high grade gold in all holes drilled at the newly discovered Jacques Find prospect within the Teal gold project located near Kalgoorlie.

The new prospect is located 500 metres south along strike from the Teal gold mine currently being developed.

Highlights from the drilling include 11 metres at 7.75 g/t gold from 51 metres.

High grades have been defined for 70 metres down dip and the focus is now on growing that along strike where there has been shallow or little historical drilling.

The Jacques Find has been elevated in priority and follow up drilling along strike has commenced.

Jon Price, managing director, commented: “The exploration team have done an exemplary job with target generation and to have all drill holes hitting high grade mineralisation is a testament to the potential of this area.”


Jacques Find

The Jacques Find gold prospect is located within the 100% owned Teal gold project located 11 kilometres northwest of Kalgoorlie-Boulder in Western Australia.

Highlights from the recent drill results include:

- 11 metres at 7.75 g/t gold from 51 metres including 7.8 metres at 10.69 g/t gold;
- 9 metres at 6.99 g/t gold from 89 metres;
- 5 metres at 7.44 g/t gold from 73 metres;
- 6 metres at 3.02 g/t gold from 114 metres; and
- 6 metres at 7.16 g/t gold from 107 metres including 4 metres at 10.35 g/t gold.

To date 37 reverse circulation holes for 2,800 metres has been completed at parallel strike zones at the Jacques, Peyes West and Peyes Farm prospects.

A further 3,000 metres is planned to be complete before the end of the year including ten holes for 1,000 metres north and south along strike at Jacques Find.

An initial resource estimate will be compiled if sufficient mineralisation is defined.


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 Teal Stage 1 open pit gold mine within the Teal project represents a near term opportunity for gold production.

The company recently completed site mobilisation and commenced pre-strip mining.

The small open pit gold project is capable of producing 15,567 ounces of gold over 9 months for a capital cost of $3.9 million.

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


Analysis

Drill results from Jacques Find are significant as they have not only discovered high grade gold mineralisation but also in proximity to the Teal gold mine.

The new prospect is located 500 metres south along a parallel strike zone from the Teal gold mine and planned drilling will test the extension of this strike zone.

The mineralisation is interpreted to dip steeply to the west and is open along strike.

Any additional gold mineralisation defined proximate to the Teal gold mine has the potential to extend the mine life and add economic value to the open pit operation, where pre-stripping is underway.

Intermin is also active at the Goongarrie gold project, also located in the region.

Intermin is expecting upcoming news regarding:

- Teal mining progress updates;
- Teal drilling results from Teal Deeps, Peyes Farm and Jacques Find;
- Zuleika Shear drilling results; and
- Goongarrie Lady scoping study results.

Intermin shares are up over 95% year to date, currently trading at $0.105.

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Tue, 29 Nov 2016 10:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/169638/intermin-resources-ltd-makes-new-gold-discovery-close-to-teal-mine-169638.html
<![CDATA[News - Intermin Resources Ltd appoints Peter Bilbe as chairman ]]> http://www.proactiveinvestors.com.au/companies/news/169103/intermin-resources-ltd-appoints-peter-bilbe-as-chairman-169103.html Bilbe is also currently non-executive chairman of Independence Group.

Intermin is focused on gold exploration in the Kalgoorlie and Menzies areas of Western Australia.

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Thu, 17 Nov 2016 09:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/169103/intermin-resources-ltd-appoints-peter-bilbe-as-chairman-169103.html
<![CDATA[News - Intermin Resources Ltd begins mining at Teal Gold Project ]]> http://www.proactiveinvestors.com.au/companies/news/168779/intermin-resources-ltd-begins-mining-at-teal-gold-project-168779.html Intermin Resources Ltd (ASX:IRC) has completed site mobilisation and commenced pre-strip mining at the Teal gold project located 11 kilometres from Kalgoorlie-Boulder in Western Australia.

Pre-stripping of the waste overburden is expected to take 6-7 weeks followed by grade control and then ore mining.

The mine will produce 171,000 tonnes at 3.2 g/t for 15,567 ounces gold recovered and generate A$9.3 million in net cash to Intermin in the FY17.

Intermin is also active at the Goongarrie gold project and at other prospects within the Teal gold project.

Jon Price, managing director, commented: “We are looking forward to completing the pre-strip and mining our first ore this quarter and taking advantage of the very strong A$ gold price.”


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 Teal Stage 1 open pit gold mine within the Teal project represents a near term opportunity for gold production.

The small open pit gold project is capable of producing 15,567 ounces of gold over 9 months for a capital cost of $3.9 million.

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


Other activities

Feasibility work has commenced on Goongarrie Lady where a 25,000 ounce gold resource has been defined.

Optimisation and mine design is nearing completion, mill options are under negotiation, and the full feasibility study is due in the March quarter.

Peyes Farm and Teal south is being worked on concurrently to identify the most optimal mine development to follow on from Stage 1.

Diamond and reverse circulation drilling is progressing well with first results expected in the next 2-3 weeks from Teal south and Peyes Farm and some new targets within the Teal mining centre.

Any gold resources discovered near to Teal Stage 1 have the opportunity to extend the current mine life.

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Thu, 10 Nov 2016 10:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/168779/intermin-resources-ltd-begins-mining-at-teal-gold-project-168779.html
<![CDATA[News - Intermin Resources Ltd expands gold ground in Kalgoorlie region ]]> http://www.proactiveinvestors.com.au/companies/news/168301/intermin-resources-ltd-expands-gold-ground-in-kalgoorlie-region-168301.html Intermin Resources Ltd (ASX:IRC) has acquired 164 square kilometres of new gold projects and exploration tenure in the prospective Kalgoorlie-Boulder region of Western Australia.

The new acquisitions are located immediately along strike or adjacent to major regional gold producing structures with known gold occurrences.

Intermin recently commenced 20,000 metres of drilling at its flagship Teal gold project also located near Kalgoorlie. Initial results are expected this quarter.

Jon Price, managing director, commented: “The company is well funded to increase our exploration effort on tenure that has had very little work done in the last 20 years.

“This region has undergone a significant resurgence in recent times with many new discoveries that certainly dispels the old adage that the area is a tired mature gold field.”


New acquisitions

The acquisitions comprise 26 prospecting licence applications, five exploration licence applications and one granted exploration licence.

Review of existing historical data and target generation is underway with drilling to commence once applications and approvals have been granted expected in the March quarter.

Of particular interest is the Black Flag Project underlain by the Black Flag sediments which was subject to shallow reverse circulation and aircore in the 1990s with walk up targets identified.

All the ground was acquired at very low cost and has had very little exploration conducted over the last 20 years.


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 Teal Stage 1 open pit gold mine within the Teal project represents a near term opportunity for gold production.

During October, Intermin’s board approved the development of the Teal State 1 gold mine.

At a gold price of A$1,665 per ounce, Teal Stage 1 will generate A$9.3 million in free cash flow during the 2017 financial year.

The small open pit gold project is capable of producing 15,567 ounces of gold over 9 months for a capital cost of $3.9 million.

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


Drilling in progress

Intermin recently commenced a resource expansion drilling program at the Teal gold project, which is to be followed by a regional exploration drilling program.

The resource expansion program will comprise of 12,000 metres of drilling to test multiple high grade oxide and primary gold targets.

Drilling will be conducted in parallel with the development of the Teal Stage 1 open pit gold mine.

Any gold resources discovered near to Teal Stage 1 have the opportunity to extend the current mine life.

A further 8,000 metre regional exploration drilling program will follow the resource expansion program.

Drilling is continuing at Teal and Peyes Farm before the rigs head to Blister Dam for its maiden drilling program in 25 years.

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Tue, 01 Nov 2016 11:10:00 +1100 http://www.proactiveinvestors.com.au/companies/news/168301/intermin-resources-ltd-expands-gold-ground-in-kalgoorlie-region-168301.html
<![CDATA[News - Intermin Resources Ltd closes share purchase plan as drilling starts near Kalgoorlie ]]> http://www.proactiveinvestors.com.au/companies/news/168170/intermin-resources-ltd-closes-share-purchase-plan-as-drilling-starts-near-kalgoorlie-168170.html Intermin Resources Ltd (ASX:IRC) recently closed its share purchase plan priced and issued circa 1.4 million shares at $0.12, with applications totalling $167,940.

The company has also allotted and issued 16.5 million placement options 699,747 share purchase plan options.

Both lines of options have an exercise price of $0.17 cents and an expiry date 31 August 2018.

Earlier in the week the company commenced resource expansion drilling at the Teal gold project located within the Kalgoorlie-Boulder region of Western Australia.

The expansion program will comprise of 12,000 metres of drilling to test multiple high grade oxide and primary gold targets.

Drilling will be conducted in parallel with the development of the Teal Stage 1 open pit gold mine.

A further 8,000 metre regional exploration drilling program will follow the resource expansion program.

Initial results are expected in the current December quarter.

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Fri, 28 Oct 2016 07:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/168170/intermin-resources-ltd-closes-share-purchase-plan-as-drilling-starts-near-kalgoorlie-168170.html
<![CDATA[News - Intermin Resources Ltd commences 20,000 metre gold drilling program ]]> http://www.proactiveinvestors.com.au/companies/news/167533/intermin-resources-ltd-commences-20000-metre-gold-drilling-program-167533.html Intermin Resources Ltd (ASX:IRC) has commenced resource expansion drilling at the Teal gold project located within the Kalgoorlie-Boulder region of Western Australia.

The resource expansion program will comprise of 12,000 metres of drilling to test multiple high grade oxide and primary gold targets.

Drilling will be conducted in parallel with the development of the Teal Stage 1 open pit gold mine.

A further 8,000 metre regional exploration drilling program will follow the resource expansion program.

Initial results are expected in the current December quarter.

Jon Price, interim managing director, commented:

“The recent successful capital raising has enabled an accelerated drilling program at Teal and Peyes Farm to grow the resource base along strike and at depth and further define mining inventory beyond the Teal Stage 1 open pit currently being developed.”


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 Teal Stage 1 open pit gold mine within the Teal project represents a near term opportunity for gold production.

During October, Intermin’s board approved the development of the Teal State 1 gold mine.

At a gold price of A$1,665 per ounce, Teal Stage 1 will generate A$9.3 million in free cash flow during the 2017 financial year.

The small open pit gold project is capable of producing 15,567 ounces of gold over 9 months for a capital cost of $3.9 million.

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


Resource expansion potential

A major resource expansion drilling program has commenced at the Teal and Peyes Farm prospects to follow up highly significant oxide and primary intercepts located directly below and along strike from the Teal Stage 1 open pit mine development.

The drilling will occur concurrently with site establishment, clearing and commencement of mining operations which are underway.

A key purpose of the program at Teal is to test for extensions to high grade sulphide hosted primary gold mineralisation at depth.

The potential at depth is significant and numerous high grade intercepts are open in all directions including:

- 10 metres at 7.55 g/t gold from 66 metres;
- 3 metres at 14.08 g/t gold from 73 metres;
- 5 metres at 17.80 g/t gold from 269 metres;
- 5 metres at 29.10 g/t gold from 102 metres; and
- 25 metres at 4.22 g/t gold from 128 metres.

It is planned to complete 120 reverse circulation holes at Teal and Peyes Farm with 12 diamond tail holes testing multiple high grade targets.


Regional drilling

Program details for drilling at the Blister Dam, Baden Powell and Janet Ivy South projects will be provided after further assays are collected and fieldwork is conducted.

The combined drilling program is expected to be undertaken over the next 3 months with results expected to be available in the December and March quarters.


Analysis

This significant drilling program will provide Intermin with ongoing opportunities to expand its gold resources.

More importantly, any gold resources discovered near to Teal Stage 1 has the opportunity to extend the current mine life.

Earlier drill results at depth have clearly demonstrated the potential for a significant orebody within the primary ore zone at the Teal deposit.

By developing Teal Stage 1, Intermin will become a gold producer and be able to generate cash to fund the exploration and development of its other assets in the region.

Both the Teal and Peyes Farm prospects are demonstrating significant potential for both oxide free milling ore beyond Teal Stage 1 and higher grade primary sulphide mineralisation at depth.

The stock is trading up 85% year to date.

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Tue, 18 Oct 2016 12:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/167533/intermin-resources-ltd-commences-20000-metre-gold-drilling-program-167533.html
<![CDATA[News - Intermin Resources to become a gold producer near Kalgoorlie ]]> http://www.proactiveinvestors.com.au/companies/news/167195/intermin-resources-to-become-a-gold-producer-near-kalgoorlie-167195.html Mobilisation of mining fleet has commenced with first gold production expected in the December quarter after 8-10 weeks of pre-stripping waste overburden.

All statutory approvals are in place and project is fully funded.

At a gold price of A$1,665 per ounce, Teal Stage 1 will generate A$9.3 million in free cash flow during the 2017 financial year.

Jon Price, managing director, commented: “Bringing Teal Stage 1 into production is a major milestone for the company and comes at a time of reduced operating costs and a strong Australian dollar gold price to deliver significant cash flow to the business this financial year.”


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 Teal Stage 1 open pit gold mine within the Teal project represents a near term opportunity for gold production.

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


Teal Stage 1

The Teal Stage 1 project development comes after completion of a positive feasibility study, which delivered a maiden Ore Reserve of 17,723 ounces of gold grading 3.21 g/t gold.

Since the release of the study, Intermin formed a mining alliance with RM Contracting.

The small open pit gold project is capable of producing 15,567 ounces of gold over 9 months for a capital cost of $3.9 million.

RM contracting will fund 50% of the $3.9 million capital cost to receive 25% of the free cash flow.

Mined ore will be hauled 22 kilometres and processed at a processing plant as per the standing haulage and ore treatment agreement with Paddington Gold Pty Ltd.


Analysis

By developing Teal Stage 1, Intermin will become a gold producer and be able to generate cash to fund the exploration and development of its other assets in the region.

This is a fortuitous period to be entering gold production with the AUD gold price trading at A$1,660 per ounce.

Intermin recently formed a strategic alliance with EGS, which will allow the company to realise the value of its gold assets in the Northern Goldfields region.

The collaborative joint venture is mutually beneficial to both parties and provides Intermin’s Menzies and Goongarrie projects with additional exploration funding and processing options.

This increases the potential of these projects to get into production.

Free cash flow and mining experience gained from Teal Stage 1 will support Intermin as its continues to search for the next big discovery in the region.

Follow-up drilling at Peyes Farm and Teal will commence in the December quarter as part of an accelerated exploration program.

Both the Teal and Peyes Farm prospects are demonstrating significant potential for both oxide free milling ore beyond Teal Stage 1 and higher grade primary sulphide mineralisation at depth.

The stock is trading up 95% year to date.

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Tue, 11 Oct 2016 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/167195/intermin-resources-to-become-a-gold-producer-near-kalgoorlie-167195.html
<![CDATA[News - Intermin Resources Ltd intersects high grade gold near Kalgoorlie ]]> http://www.proactiveinvestors.com.au/companies/news/166872/intermin-resources-ltd-intersects-high-grade-gold-near-kalgoorlie-71337.html Intermin Resources Ltd (ASX:IRC) has intersected gold grading up to 34 g/t from its 73 hole drill program at the Peyes Farm prospect within the Teal gold project located near Kalgoorlie, Western Australia.

The reverse circulation and aircore drilling program was completed 600 metres south of the Teal gold mine.

Results include 15 metres at 5 g/t gold from 48 metres.

Follow-up drilling at Peyes Farm and Teal will commence in the December quarter as part of an accelerated exploration program.

Jon Price, managing director, commented: “Like Teal, Peyes Farm has produced spectacular results from limited drilling on parallel structures and confirms the gold system is completely open and occurs in multiple highly mineralised structures demonstrating potential for significant resource growth.”


Drill result details

The completed program comprised 73 holes for 5,761 metres and included aircore and reverse circulation drilling.

The program was designed to explore for extensions to existing mineralisation, confirm areas designed for Teal mine infrastructure and to install Teal mine dewatering bores.

Significant results include:

- 15 metres at 5.00 g/t gold from 48 metres including 6 metres at 10.89 g/t gold;
- 7 metres at 2.58 g/t gold from 30 metres including 1 metre at 16.00 g/t gold;
- 5 metres at 4.03 g/t gold from 31 metres including 2 metres at 6.14 g/t gold;
- 8 metres at 2.60 g/t gold from 28 metres including 2 metres at 4.85 g/t gold; and
- 4 metres at 3.96 g/t gold from 38 metres including 2 metres at 7.10 g/t gold.

An accelerated follow drilling program will commence as soon as practicable in October aimed at compiling Mineral Resource Estimates if sufficient mineralisation is defined.


Background

Intermin has a number of quality gold assets in the world class gold mining region surrounding Kalgoorlie 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 Teal Stage 1 open pit gold mine within the Teal project represents a near term opportunity for gold production.


Recent strategic alliance

Intermin recently signed a binding heads of agreement with Eastern Goldfields Ltd (ASX:EGS) with regard to the Menzies and Goongarrie gold projects located near Kalgoorlie in Western Australia.

EGS will invest up to $7 million, comprised of a $1.5 million placement, now complete, and $5.5 million of exploration and development studies over 4 years to earn a 65% interest in the Menzies and Goongarrie gold projects.

A simultaneous placement of 39.25 million shares at $0.12 to raise $4.71 million was completed, which included the $1.5 million investment by EGS.

Intermin is now well-funded for a development decision for the Teal Stage 1 gold mine in the current quarter.


Analysis

Drill results from Peyes Farm continue to be encouraging given their proximity to the Teal gold mine and the fact that mineralisation is open in all directions.

Both the Teal and Peyes Farm prospects are demonstrating significant potential for both oxide free milling ore beyond Teal Stage 1 and higher grade primary sulphide mineralisation at depth.

As the Teal gold project is located in the infrastructure rich area of Kalgoorlie, it has a number of ore processing options.

The recent completion of a capital raising means Intermin is well-funded to develop the Teal Stage 1 gold mine and accelerate exploration drilling and aggressively explore the company’s assets in the Kalgoorlie region.

Furthermore, the strategic alliance with ESG will accelerate the opportunity of realising the value of its gold assets in the Northern Goldfields region.

The stock is trading up 115% year to date ahead of a decision to mine Teal Stage 1 this quarter.

Directors and associates hold over 45% of the issued share capital.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 04 Oct 2016 15:18:00 +1100 http://www.proactiveinvestors.com.au/companies/news/166872/intermin-resources-ltd-intersects-high-grade-gold-near-kalgoorlie-71337.html
<![CDATA[News - Intermin Resources Ltd forms strategic joint venture and raises $4.7M ]]> http://www.proactiveinvestors.com.au/companies/news/165449/intermin-resources-ltd-forms-strategic-joint-venture-and-raises-47m-70847.html Intermin Resources Ltd (ASX:IRC) has signed a binding heads of agreement with Eastern Goldfields Ltd (ASX:EGS) with regard to the Menzies and Goongarrie gold projects located near Kalgoorlie in Western Australia.

EGS will invest up to $7 million, comprised of a $1.5 million placement, now complete, and $5.5 million of exploration and development studies over 4 years to earn a 65% interest in the Menzies and Goongarrie gold projects.

A placement of 39.25 million shares at $0.12 to raise $4.71 million has been complete, which included the $1.5 million investment by EGS.

Intermin is now well-funded for a development decision for the Teal Stage 1 gold mine in the current quarter.

Jon Price, managing director, commented: “This 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

Intermin has executed a binding heads of agreement with EGS to form a strategic joint venture covering Intermin’s Menzies and Goongarrie gold projects.

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 heads of agreement 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.


Placement details

The placement will see 39.25 million shares issued over two tranches priced at $0.12 per share to raise $4.71 million.

The placement includes a strategic investment from EGS of $1.5 million as part of the strategic joint venture.

A share purchase plan (SPP) seeking to raise up to $0.6 million priced at $0.12 with a 1:2 attaching option exercise at $0.17 will open on 16 September, 2016.

Proceeds will be used for the development of the Teal Stage 1 gold mine, accelerated drilling programs at Teal, Peyes Farm, Blister Dam and Windanya, potential acquisitions and general working capital.


Analysis

By forming a strategic alliance with EGS, Intermin are taking advantage of synergies to accelerate the opportunity of realising the value of its gold assets in the Northern Goldfields region.

The collaborative joint venture is mutually beneficial to both parties and provides Intermin’s Menzies and Goongarrie projects with additional exploration funding and processing options.

This increases the potential of these projects to get into production.

Meanwhile, the completion of the placement and subsequent SPP means Intermin is well-funded to develop the Teal Stage 1 gold mine and accelerate exploration drilling and aggressively explore the company’s assets in the Kalgoorlie region.

Intermin remains leveraged to exploration upside in the short term with drill results pending and a 5,000 metre follow-up program planned for September.

The stock is trading up 160% year to date ahead of a decision to mine Teal Stage 1 this quarter.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 05 Sep 2016 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165449/intermin-resources-ltd-forms-strategic-joint-venture-and-raises-47m-70847.html
<![CDATA[News - Intermin Resources Ltd granted more time to finalise financing ]]> http://www.proactiveinvestors.com.au/companies/news/165448/intermin-resources-ltd-granted-more-time-to-finalise-financing-70743.html Intermin Resources Ltd (ASX:IRC) has been given more time to finalise details regarding financing of the company’s development and exploration activities, with the ASX granting a voluntary suspension.

Intermin is focused on gold in the Kalgoorlie and Menzies areas of Western Australia, which are host to some of Australia’s richest gold deposits.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 31 Aug 2016 06:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165448/intermin-resources-ltd-granted-more-time-to-finalise-financing-70743.html
<![CDATA[News - Intermin Resources Ltd to update on financing ]]> http://www.proactiveinvestors.com.au/companies/news/165447/intermin-resources-ltd-to-update-on-financing-70703.html Intermin Resources Ltd (ASX:IRC) has been granted a trading halt by the ASX, with its shares placed in pre-open.

Intermin requested the halt pending details regarding financing of the company’s mine development and exploration activities.

The halt will remain in place until the opening of trade on Wednesday 31st August 2016, or earlier if an announcement is made to the market.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Mon, 29 Aug 2016 08:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165447/intermin-resources-ltd-to-update-on-financing-70703.html
<![CDATA[News - Intermin Resources Ltd intersects thick gold zones at Teal near Kalgoorlie ]]> http://www.proactiveinvestors.com.au/companies/news/165446/intermin-resources-ltd-intersects-thick-gold-zones-at-teal-near-kalgoorlie-70588.html Intermin Resources Ltd (ASX:IRC) has intersected results including 40 metres at 1.06 g/t gold at the Peyes Farm prospect within the 100% owned Teal gold project near Kalgoorlie.

The results are significant as they will potentially form a key part of Intermin’s production pipeline beyond the Teal Stage 1 open pit gold mine which is nearing development.

Results were received from 58 holes out of the 73 hole program with remaining results expected in the next 3-4 weeks.

5,000 metres of follow up drilling is planned for September.

Jon Price, managing director, commented: “We are only just starting to uncover the broader potential of our 100% owned tenure south of the Teal deposit and at depth.

“Teal Stage 1 will be a great start but I can see Intermin active in this area for many years to come as we unlock this potential.”


Drill result details

The program comprised 73 holes for 5,761 metres and included aircore and reverse circulation drilling.

Best results from the Peyes Farm prospect include:

- 40 metres at 1.06 g/t gold from 20 metres including 8 metres at 4.40 g/t gold;
- 20 metres at 1.10 g/t gold from 20 metres including 4 metres at 4.02 g/t gold;
- 4 metres at 3.35 g/t gold from 36 metres; and
- 4 metres at 5.25 g/t gold from 76 metres.

Results from the remaining 15 holes are expected in 3-4 weeks.


Background

Intermin has a number of quality gold assets in the world class gold mining region surrounding Kalgoorlie 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 Teal Stage 1 open pit gold mine within the Teal project represents a near term opportunity for gold production.


Teal Stage 1

The recently completed feasibility study indicates Teal Stage 1 to be a technically strong and financially viable small open pit gold project capable of producing 17,723 ounces of gold over 9 months.

The project is forecast to generate $10.1 million of free cash flow and would have a low $4.5 million capital development cost.

Intermin recently executing a binding letter agreement for ore treatment with Paddington Gold Pty Ltd, a wholly-owned subsidiary of Norton Gold Fields Ltd.

The deal enables an accelerated mining schedule at a reduced capital cost for Teal Stage 1, which is located 12 kilometres from Kalgoorlie-Boulder in the goldfields of Western Australia.

The ore will be delivered by Norton’s haulage contractor at cost using their existing private haul road 2 kilometres to Teal’s east.

This avoids the building of a rail crossing and highway intersection that would be required to deliver ore to the other mills.

Capex savings will be circa $750,000, and with lower haulage costs, this improves the overall project economics.


Production pipeline potential

Intermin has identified a number of shallow oxide and primary mineralisation targets to build a production pipeline past Teal Stage 1.

Scoping study and feasibility work has commenced on a number of projects with the aim of continuous mining and cash flow.

This pipeline includes:

- Teal Stage 2 / Peyes Farm: Extension drilling completed and historic resource at Peyes Farm being followed up;
- Goongarrie: Resource update and mine optimisation underway;
- Pericles deposit (Menzies Gold Project): Current resource of 0.53 million tonnes at 2.49 g/t for 42,500 ounces of gold with open cut oxide followed by underground mining; and
- Teal deeps resource: Expansion drilling into the primary mineralisation at depth to commence in the December quarter.


Analysis

The drill results are encouraging as they lie 600 metres south along strike from the Teal gold mine with mineralisation open in all directions.

Both the Teal and Peyes Farm prospects are demonstrating significant potential for both oxide free milling ore beyond Teal Stage 1 and higher grade primary sulphide mineralisation at depth.

Mine optimisation and metallurgical studies on the sulphide hosted primary mineralisation at Teal have now commenced.

As the Teal gold project is located in the infrastructure rich area of Kalgoorlie, it has a number of ore processing options.

Intermin remains leveraged to exploration upside in the short term with drill results pending and a 5,000 metre follow-up program planned for September.

The stock is trading up 140% year to date ahead of a decision to mine Teal Stage 1 this quarter.

Intermin holds $2.7 million in cash, $3 million in liquid investments and no debt.

Directors and associates hold over 45% of the issued share capital.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Mon, 22 Aug 2016 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165446/intermin-resources-ltd-intersects-thick-gold-zones-at-teal-near-kalgoorlie-70588.html
<![CDATA[News - Intermin Resources Ltd updates gold resource to build production pipeline ]]> http://www.proactiveinvestors.com.au/companies/news/165445/intermin-resources-ltd-updates-gold-resource-to-build-production-pipeline-70481.html Intermin Resources Ltd (ASX:IRC) has updated the Mineral Resource for the 100% owned Goongarrie gold project located 80 kilometres north of Kalgoorlie-Boulder in Western Australia.

The new estimate stands at 272,000 tonnes at 2.86 g/t gold for 25,028 ounces of gold.

The updated resource is based on extensions to the existing open pit mined in the late 1990s.

The resource will form a key part of Intermin’s production pipeline beyond the Teal Stage 1 open pit gold mine which is nearing development.

Mine optimisation work has commenced to generate a maiden mining inventory and initial mine design to support the completion of statutory approvals to mine.


Background

Intermin has a number of quality gold assets in the world class gold mining region surrounding Kalgoorlie 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 Teal Stage 1 open pit gold mine within the Teal project represents a near term opportunity for gold production.


Teal Stage 1

The recently completed feasibility study indicates Teal Stage 1 to be a technically strong and financially viable small open pit gold project capable of producing 17,723 ounces of gold over 9 months.

The project is forecast to generate $10.1 million of free cash flow and would have a low $4.5 million capital development cost.

Intermin recently executing a binding letter agreement for ore treatment with Paddington Gold Pty Ltd, a wholly-owned subsidiary of Norton Gold Fields Ltd.

The deal enables an accelerated mining schedule at a reduced capital cost for Teal Stage 1, which is located 12 kilometres from Kalgoorlie-Boulder in the goldfields of Western Australia.

The ore will be delivered by Norton’s haulage contractor at cost using their existing private haul road 2 kilometres to Teal’s east.

This avoids the building of a rail crossing and highway intersection that would be required to deliver ore to the other mills.

Capex savings will be circa $750,000, and with lower haulage costs, this improves the overall project economics.


Production pipeline potential

Intermin has identified a number of shallow oxide and primary mineralisation targets to build a production pipeline past Teal Stage 1.

Scoping study and feasibility work has commenced on a number of projects with the aim of continuous mining and cash flow.

This pipeline includes:

- Teal Stage 2 / Peyes Farm: Extension drilling commenced and historic resource at Peyes Farm being followed up;
- Goongarrie: Resource update and mine optimisation underway; and
- Pericles deposit (Menzies Gold Project): Current resource of 0.53 million tonnes at 2.49 g/t for 42,500 ounces of gold with open cut oxide followed by underground mining.


Analysis

Updating Goongarrie increases Intermin’s total JORC gold resources to 3.53 million tonnes at 2.36 g/t gold for 268,085 ounces of gold providing a potential long term production pipeline for Intermin.

The updated resource at Goongarrie is based on extensions to the existing open pit mined in the late 1990s.

Very little exploration has been completed since then and further drilling is planned on both strike extensions around existing workings and greenfields target on structures identified on the lake system.
 
This latest resource will now be re-optimised with the latest mining and milling costs and A$1,600 per ounce gold price as part of the open pit reserve study.

Goongarrie is a key part of the medium to longer term production pipeline strategy beyond Teal Stage 1 that is currently nearing development.

The stock is trading up 150% year to date ahead of a decision to mine Teal Stage 1 this quarter.

Intermin holds $2.7 million in cash, $3 million in liquid investments and no debt.

Directors and associates hold over 45% of the issued share capital.

An accelerated exploration drilling campaign is underway with high priority walk up targets identified for resource growth.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 16 Aug 2016 13:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165445/intermin-resources-ltd-updates-gold-resource-to-build-production-pipeline-70481.html
<![CDATA[News - Intermin Resources Ltd in gold ore treatment deal with Norton Gold Fields ]]> http://www.proactiveinvestors.com.au/companies/news/156804/intermin-resources-ltd-in-gold-ore-treatment-deal-with-norton-gold-fields-70068.html Intermin Resources Ltd (ASX:IRC) is on the road to gold production, after executing a binding letter agreement for ore treatment with Paddington Gold Pty Ltd, a wholly-owned subsidiary of Norton Gold Fields Ltd.

The deal enables an accelerated mining schedule at a reduced capital cost for Teal Stage 1, which is located 12 kilometres from Kalgoorlie-Boulder in the goldfields of Western Australia.

The ore will be delivered by Norton’s haulage contractor at cost using their existing private haul road 2 kilometres to Teal’s east.

This avoids the building of a rail crossing and highway intersection that would be required to deliver ore to the other mills.

Capex savings will be circa $750,000, and with lower haulage costs, this improves the overall project economics.

Jon Price, managing director for Intermin, commented:

“This agreement with Norton secures ore treatment for Teal at a reduced capital cost by using existing off highway road networks and very competitive terms.

“This marks the final key milestone for the development of Teal and we look forward to moving the mine into production after final board approval this quarter."


Analysis

Payment by Norton will occur in two parts, an upfront payment for 50% of gross revenue payable on 80% of the mine predicted grade.

The final payment will be within 4-5 weeks after assay determination, recovery work and costs reconciled.

This deal is very competitive and allows earlier gold production at attractive unit rates.

The timing is right for Intermin, as the Australian Dollar gold price traces at circa A$1750 an ounce.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 27 Jul 2016 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/156804/intermin-resources-ltd-in-gold-ore-treatment-deal-with-norton-gold-fields-70068.html
<![CDATA[News - Intermin Resources Ltd eyes gold production within months from Teal ]]> http://www.proactiveinvestors.com.au/companies/news/156803/intermin-resources-ltd-eyes-gold-production-within-months-from-teal-69899.html Intermin Resources Ltd (ASX:IRC) has delivered a major milestone on its path to becoming a gold producer, after entering into a mining alliance for the development of Teal Stage 1 with Resource Mining Pty Ltd.

Teal is located 12 kilometres from Kalgoorlie-Boulder in Western Australia.

The binding heads of agreement brings in a well credentialed mining contractor at competitive rates who will manage all mining operations.

This includes operational systems, labour, equipment and statutory obligations.

Intermin will have management oversight and manage all geological functions (grade control, modeling, ore mark up, survey, ore spotting etc) and haulage, ore processing and accounts.

In addition and at the election of Intermin, Resource Mining is willing to partially fund or fully fund the capital development if required.

It will then share in a proportion of the free cash flow after Intermin has recovered $2.1 million in asset recovery charges.

Jon Price, managing director for Intermin, commented:

“On the back of the positive Feasibility Study announced recently, we are rapidly progressing toward mine development of Teal and the mining alliance is another key milestone in the process.

“We look forward to working with Resource Mining who not only brings specialised mining capability but is assisting in financing the project for the benefit of both our businesses.

"Alliances such as these on a shared risk and shared reward basis is a model that works well as we develop our production pipeline.”


Agreement covers development of Teal Stage 1 open cut:

- Total mining volume of 1.87m BCM;
- Ore mined of 171,500 tonnes at 3.2g/t gold;
- Gold production of 15,567 ounces over a 9 month mine life;
- Project generates A$10.1 million at AIC of A$953 an ounce at A$1,600 an ounce gold price; and
- Capital development cost estimate to first production of A$4.5 million.


Analysis

Today's agreement provides Intermin with the flexibility to bring Teal Stage 1 into production in the September quarter 2016 at a reduced development risk.

Milling agreements are being reviewed now with a decision expected in the next few weeks.

The timing is right for Intermin, as the Australian Dollar gold price sits above A$1750 an ounce.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 19 Jul 2016 12:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/156803/intermin-resources-ltd-eyes-gold-production-within-months-from-teal-69899.html
<![CDATA[News - Intermin Resources Ltd's managing director lifts stake through option exercise ]]> http://www.proactiveinvestors.com.au/companies/news/156802/intermin-resources-ltds-managing-director-lifts-stake-through-option-exercise-69781.html Intermin Resources Ltd's (ASX:IRC) managing director, Jon Price, has increased his stake in the company through the exercise of in-the-money options.

Price exercised 296,826 $0.075 listed options, for a consideration of $22,262, increasing his stake to circa 1.1 million shares.

Intermin recently completed its feasibility study for Stage 1 of the Teal Gold Project, located 12 kilometres from Kalgoorlie in Western Australia.

The study findings indicate a technically strong and financially viable small open pit gold project capable of producing 17,723 ounces of gold over 9 months.

The project is forecast to generate $10.1 million of free cash flow and would have a low $4.5 million capital development cost.

Shares in the company last traded at $0.13, more than double where they started the beginning of 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 13 Jul 2016 12:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/156802/intermin-resources-ltds-managing-director-lifts-stake-through-option-exercise-69781.html
<![CDATA[News - Intermin Resources Ltd's Teal Gold Project comes up trumps: study ]]> http://www.proactiveinvestors.com.au/companies/news/156801/intermin-resources-ltds-teal-gold-project-comes-up-trumps-study-69649.html Intermin Resources Ltd (ASX:IRC) has completed its feasibility study for Stage 1 of the Teal Gold Project located 12 kilometres from Kalgoorlie in Western Australia.

The study findings indicate a technically strong and financially viable small open pit gold project capable of producing 17,723 ounces of gold over 9 months.

The project is forecast to generate $10.1 million of free cash flow and would have a low $4.5 million capital development cost.

The immediate next steps are the finalisation of mining, haulage and milling contracts and to complete project financing options for board approval to mine in the September quarter.

Jon Price, managing director, commented: “The results of the feasibility study for Teal demonstrate strong potential to generate significant cash flow for the business to underpin accelerated exploration and development of the company’s assets in the Western Australia goldfields”.


Feasibility study details

The study is based on Stage 1 of the Teal Gold Project which comprises oxide and transitional material measuring 837,000 tonnes at 2.67 g/t gold for 71,747 ounces of gold.

The study resulted in a maiden Ore Reserve of 17,723 ounces of gold, to be mined using an open pit design over a period of 9 months.

Third party milling is set to recover 15,567 ounces by achieving an 88% metallurgical recovery average.

Capital development costs, which include a 33 metre pre-strip, amount to A$4.5 million.

The project is forecast to generate A$10.1m in free cash flow using a A$1,600 per ounce gold price and all in costs of A$953 per ounce.


Next steps

The immediate next steps are the finalisation of mining, haulage and milling contracts and to complete project financing options for board approval in the September quarter.

On completion and board approval, mine development is anticipated early in the December quarter subject to mobilisation of mining fleet with the successful mining contractor.

Intermin will look to finance the Teal Project through a combination of debt and equity, strategic partnerships or monetisation of company assets.


Project expansion

Resource expansion drilling set to commence in July has the potential to enhance the feasibility study with the inclusion of more ounces into an updated mine plan.

The drilling will also test priority resource extension targets north and south along strike of the current Teal pit design and at the nearby Peyes Farm prospect.


Analysis

The results of the feasibility study on Stage 1 of the Teal Gold Project confirm Intermin has a project capable of producing near term cash flow.

The combination of the low Capex and high profit margins from the study provide a number of financing options including traditional debt/equity, or profit share arrangements with strategic partners open to Intermin.

We would be confident given this and the current market cap that that Intermin will be able to finance the Teal Project.

The Teal gold project with its maiden Ore Reserve represents a opportunity for gold production during a period when the AUD gold price is trading strongly.

The AUD gold price is currently trading near all-time highs of A$1,830 per ounce – given the feasibility study was completed using a A$1,600 per ounce gold price, this will make the project more financially attractive.

Furthermore, previous drilling at Teal and Peyes Farm has indicated there is substantial mineralisation located outside the current Teal Resource.

Resource expansion drilling set to commence in July will add to the project’s potential to expand the resource and mine plan.

The location of the Teal project offers Intermin valuable options for future milling and treatment as there are 5 processing facilities within a 40 kilometre radius of the project.

Intermin shares have appreciated strongly in 2016 up over 85% year to date trading currently at circa $0.10 per share.

Upcoming news includes:
- Finalisation of mining, haulage and milling contracts;
- Completion of project financing options;
- Board decision to mine; and
- Teal and Peyes Farm drilling results.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 06 Jul 2016 11:24:00 +1000 http://www.proactiveinvestors.com.au/companies/news/156801/intermin-resources-ltds-teal-gold-project-comes-up-trumps-study-69649.html
<![CDATA[News - Intermin Resources Ltd to expand Teal Gold Project ahead of decision to mine ]]> http://www.proactiveinvestors.com.au/companies/news/156800/intermin-resources-ltd-to-expand-teal-gold-project-ahead-of-decision-to-mine-69504.html Intermin Resources Ltd (ASX:IRC) is about to commence a 5,000 metre drill program at its 100% owned Teal Gold Project, 12 kilometres from Kalgoorlie in Western Australia.

Intermin is in the process of making the transition to gold producer through the proposed development of the Stage 1 open pit at Teal.

Drilling at Teal will test targets immediately adjacent to the recently updated Teal open pit design ahead of a maiden Ore Reserve.

The Peyes Farm prospect, located 600 metres along strike from the proposed Teal pit, will also be targeted in the drilling to potentially extend mineralisation.

Jon Price, managing director, commented: "The original discovery of outcropping mineralisation in the early 1900’s at Peyes Farm lead to the discovery of the Teal deposit under cover along strike.

"We are looking forward to the next round of drilling and potentially the definition of a maiden Resource at Peyes in the near future."


Drilling details

A 5,000 metre reverse circulation and aircore drill program is expected to commence in early July at Teal and Peyes Farm.

Drilling at Teal will comprise up to 30 aircore holes to a maximum depth of 50 metres and up to 10 reverse circulation holes to a maximum depth of 120 metres.

Most holes will target mineralisation that will be included within the current Teal pit design and maiden Teal Ore Reserve.

At the Peyes Farm prospect a total of 35 holes for 2,500 metres is planned to confirm historic mineralisation located 600 metres south along strike from the Teal gold deposit.

Results from the drilling are expected in the September quarter.


Teal Gold Project

Intermin recently moved closer to potential gold production at Teal by bringing the project's 71,747 ounce gold resource up to JORC 2012 standard.

Teal is located in an infrastructure rich area just 12 kilometres from Kalgoorlie.

Discussions are well advanced with mining contractors and toll treatment processing facilities ahead of a decision in the September quarter to develop an open pit gold mine.

Mine optimisation work has commenced to potentially deliver an improved economic outcome for Stage 1.


Analysis

The Teal gold project represents a near term opportunity for gold production and this drilling will take the company one step closer as it aims to deliver a maiden Ore Reserve.

Furthermore, previous drilling at Teal and Peyes Farm has indicated there is substantial mineralisation located outside the current Teal Resource.

Intermin recently appointed Peter Bilbe as non-executive director. Bilbe is a mining engineer with 40 years experience and will help Intermin with mine development, exploration and acquisitions.

The location of the Teal project gives Intermin many valuable options for future milling and treatment as there are 5 processing facilities within a 40 kilometre radius of the project.

Intermin shares have appreciated strongly in 2016 up over 100% year to date trading currently at circa $0.11 per share.

As a near term gold producer, the company is leveraged to the strongly performing AUD gold price, currently trading at A$1,775 per ounce.

Upcoming news includes:

- Teal feasibility study results for Stage 1 open pit mine;

- Gold production schedule;

- Metallurgical results from Teal oxide, transitional and primary ore zones;

- Decision to mine; and

- Teal and Peyes Farm drilling results.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 29 Jun 2016 09:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/156800/intermin-resources-ltd-to-expand-teal-gold-project-ahead-of-decision-to-mine-69504.html
<![CDATA[News - Intermin Resources Ltd to expand drilling after gold hits at Menzies ]]> http://www.proactiveinvestors.com.au/companies/news/156799/intermin-resources-ltd-to-expand-drilling-after-gold-hits-at-menzies-69227.html Intermin Resources Ltd (ASX:IRC) has intersected high grade gold at the Aspacia West prospect within the 100% owned Menzies Gold Project, 130 kilometres northwest of Kalgoorlie.

A three hole reverse circulation program has confirmed and extended shallow high grade gold mineralisation up dip from a historic diamond hole that intercepted multiple zones up to 240 g/t gold.

Results from the completed program included 1 metre at 20.25 g/t gold from 105 metres and 6 metres at 1.44 g/t gold from 61 metres.

With all three holes intersecting mineralisation, Intermin will undertake further drilling to determine potential to define an underground Resource in the September and December quarters.

Intermin's strategy is to define sufficient resources within the historically producing Menzies project to underpin construction of a stand-alone gold processing facility.


Current drill results

Assays returned from the Aspacia West prospect include:

- 1 metre at 20.25 g/t gold from 105 metres;
- 2 metres at 2.80 g/t gold from 110 metres;
- 4 metres at 1.99 g/t gold from 56 metres including 1 metre at 5.48 g/t gold; and
- 6 metres at 1.44 g/t gold from 61 metres including 1 metre at 2.87 g/t gold.

Mineralisation occurs within structurally controlled quartz/sulphide and shear hosted lodes exhibiting a high nugget effect typical of high grade deposits at Menzies.

Planning and approvals are underway for follow up drill programs to test Aspacia West and other adjacent prospects in the September quarter.


Menzies Gold Project

Intermin holds 20 kilometres of strike over 65 square kilometres of granted mining leases at Menzies.

Priority underground targets within Menzies include the Selkirk, Aspacia, Pericles and Yunndaga prospects.

Intermin has a Mineral Resource at Menzies of 2.42 million tonnes at 2.20 g/t gold for 171,310 ounces (>1.0 g/t gold lower grade cut-off).

This resource will form part of the mine optimisation studies for incorporation into the Menzies pre feasibility study.


Recent Menzies drill results

Intermin recently drilled eight holes for 758 metres and intersected follow up high grade gold at the Selkirk prospect within the Menzies project.

The Selkirk prospect is a historic open pit gold mine and drilling is showing the potential for economic mineralisation beneath the pit.

The drill program was designed to extend high grade mineralisation previously intersected measuring 3 metres at 88.6 g/t gold.

Assays included:

- 2 metres at 9.12 g/t gold from 63 metres including 1 metre at 17.81 g/t gold;
- 1 metre at 4.81 g/t gold from 80 metres;
- 2 metres at 4.18 g/t gold from 102 metres  including 1 metre at 6.15 g/t gold; and
- 4 metres at 6.67 g/t gold from 76 metres  including 1 metres at 17.08 g/t gold.


Teal Gold Project

Intermin is in the process of making the transition to gold producer through the proposed development of the Stage 1 open pit at the 100% owned Teal Gold Project in Kalgoorlie.

Recently, Intermin moved closer to potential gold production at Teal by bringing the project's resource up to JORC 2012 standard.

Teal is located in an infrastructure rich area just 12 kilometres from Kalgoorlie.

Discussions are well advanced with mining contractors and toll treatment processing facilities ahead of a decision in the September quarter to develop an open pit gold mine.

Grade has improved markedly and it is envisaged that the new Stage 1 design targeting the soft oxide and transitional material will include the majority of the new Measured Resource.

Mine optimisation work has commenced to potentially deliver an improved economic outcome for Stage 1.


Analysis

The drill results from Aspacia West provide another potential high grade underground resource to add to the 171,310 ounces of gold already defined at Menzies.

Similar to the recent Selkirk prospect drill results at Menzies, high grade gold was intercepted in a number of holes.

Menzies contains many historic pits and workings that have not been drill tested in the last 20-30 years.

Intermin shares have appreciated strongly in 2016 up over 100% year to date trading currently at circa $0.11 per share.

The company is highly leveraged to the strongly performing AUD gold price, currently trading at A$1,750 per ounce.

Menzies is one of the last remaining unconsolidated gold provinces in Western Australia with over 1 million ounces of historic production grading 22 g/t gold.

Upcoming news flow for Intermin includes:

Menzies:

- Follow up drill programs at Menzies in the September quarter.

Teal:

- Pit optimisation study results for Teal Stage 1 open pit mine and production schedule; and
- Metallurgical results from Teal oxide, transitional and primary ore zones.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 15 Jun 2016 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/156799/intermin-resources-ltd-to-expand-drilling-after-gold-hits-at-menzies-69227.html
<![CDATA[News - Intermin Resources Ltd appoints Lorry Hughes to the board ]]> http://www.proactiveinvestors.com.au/companies/news/156798/intermin-resources-ltd-appoints-lorry-hughes-to-the-board-68898.html Gold-focussed Intermin Resources Ltd (ASX:IRC) has appointed Lorry Hughes to the position of executive director – business development.

Hughes is an economic geologist with over 20 years’ experience.

In other board changes, long standing directors Michael Ruane and Robin Dean will step down.

Peter Hunt, chairman, commented: “I would like to thank Michael and Robin for their tireless efforts over many years, particularly in more recent times when the overall market has faced considerable challenges."

Intermin's interests are in the Kalgoorlie and Menzies areas of Western Australia, which are host to some of Australia’s richest gold deposits.


Upcoming news flow:

- Pit optimisation study results for Teal Stage 1 open pit mine and production schedule;
- Metallurgical results from Teal oxide, transitional and primary ore zones; and
- Return of assays from Aspacia reverse circulation drilling program at Menzies.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 30 May 2016 06:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/156798/intermin-resources-ltd-appoints-lorry-hughes-to-the-board-68898.html
<![CDATA[News - Intermin Resources Ltd delivers key milestone on path to gold production ]]> http://www.proactiveinvestors.com.au/companies/news/156797/intermin-resources-ltd-delivers-key-milestone-on-path-to-gold-production-68781.html Intermin Resources Ltd (ASX:IRC) has moved closer to potential gold production at the wholly-owned Teal Gold Project by bringing the project's resource up to JORC 2012 standard.

The project is located in an infrastructure rich area just 12 kilometres from Kalgoorlie.

Discussions are well advanced with mining contractors and toll treatment processing facilities ahead of a decision in the September quarter to develop an open pit gold mine.

Grade has improved markedly and it is envisaged that the new Stage 1 design targeting the soft oxide and transitional material will include the majority of the new Measured Resource.

Mine optimisation work will now commence, which has the potential to deliver an improved economic outcome for Stage 1.


Updated Resource

The JORC 2012 compliant resource now stands at 837,000 tonnes at 2.67 g/t gold for 71,747 ounces.

This will be used to produce a maiden Ore Reserve Estimate and mine development plan due for completion in the June quarter.

The soft oxide resource, referred to as the Oxide and Transitional mineralisation zones increased in grade by 13% to 3.44 g/t gold in the updated Measured Resource category.


Stage 1 Teal Gold Project

Earlier studies have shown the potential for Stage 1 to recover 17,000-22,000 ounces of gold from an open pit over a short mine life to 55 metres vertical depth.

This quality soft oxide resource is in close proximity to Kalgoorlie making it a valuable asset. This provides a good foundation to discover further mining opportunities beyond Stage 1.


Drilling at Teal

The next phases of drilling to be conducted at the Teal project are undergoing final approvals and will focus on to following criteria:
 
- Establishment of dewatering bores to support open pit mining;
- Extensional reverse circulation drilling at the Teal deposit to test targets immediately adjacent to the current pit design; and
- Confirmation reverse circulation drilling at the Peyes Farm prospect located 1 kilometre south along strike from Teal.


Analysis

Intermin is moving closer to gold production at an opportune time with the AUD gold price trading at $1,730 per ounce.

Intermin shares are up 120% year to date trading at $0.12 per share.

The location of the Teal project gives Intermin many valuable options for future milling and treatment as there are 5 processing facilities within a 40 kilometre radius of the project.

Intermin is well capitalised holding A$26 million in cash and investments at the end of the March quarter and recently selling gold tailings for an additional A$1.5 million.

Upcoming news for Intermin includes:

- Pit optimisation studies for Teal Stage 1 expected in the June quarter;
- Maiden Ore Reserve Estimate expected in the June quarter;
- Follow up drilling at Teal;
- Metallurgical results from Teal oxide, transitional and primary ore zones;
- Updates on discussions with mining contractors and toll treatment processing facilities;
- Return of assays from Aspacia reverse drilling program expected this quarter; and
- Follow up drill programs at Menzies in the September quarter.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 24 May 2016 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/156797/intermin-resources-ltd-delivers-key-milestone-on-path-to-gold-production-68781.html
<![CDATA[News - Intermin Resources Ltd finds more high grade gold at Menzies project ]]> http://www.proactiveinvestors.com.au/companies/news/156796/intermin-resources-ltd-finds-more-high-grade-gold-at-menzies-project-68655.html Intermin Resources Ltd (ASX:IRC) has intersected follow up high grade gold at the Selkirk prospect within the 100% owned Menzies Gold Project, 130 kilometres northwest of Kalgoorlie.

The Selkirk prospect is a historic open pit gold mine and drilling is showing the potential for economic mineralisation beneath the pit.

The drill program was designed to extend high grade mineralisation previously intersected measuring 3 metres at 88.6 g/t gold.

Multiple lodes were again intersected in a number of holes with grades measuring up to 17.81 g/t gold.

New priority high grade targets at Selkirk and other similar prospects are planned to be drilled in the September quarter.


Jon Price, managing director, commented

“The small Selkirk mine completed in the 90s delivered very good grade and we are fortunate to be the first to drill beneath the 55 metre deep pit and to be hitting multiple high grade shoots.

"Selkirk is one of many small shallow open pits and old workings that have not had a lot of follow up
drilling in the last 20 years and we look forward to getting the rigs back to work in this great gold
producing region”.


Selkirk drilling results

A total of eight holes for 758 metres were completed at the Selkirk prospect.

The program at Selkirk has successfully followed up recent and historic drill holes and intersected continuations of the targeted high grade gold lodes.

Assays included:

- 2 metres at 9.12 g/t gold from 63 metres including 1 metre at 17.81g/t gold;
- 1 metre at 4.81 g/t gold from 80 metres;
- 2 metres at 4.18 g/t gold from 102 metres  including 1 metre at 6.15g/t gold; and
- 4 metres at 6.67 g/t gold from 76 metres  including 1 metres at 17.08g/t gold.

Selkirk has demonstrated the presence of mineralised lode structures over a 100 metre strike length and 100 metre vertical depth.

The mineralisation is open down plunge to the south.


Analysis

Intermin shares have appreciated strongly in 2016 up 140% year to date trading currently at circa $0.13 per share.

The company is highly leveraged to the strongly performing AUD gold price, currently trading at A$1,750 per ounce.

While the drilling at Selkirk has only been a small program, high grade gold was intercepted in a number of holes with most hitting the desired structures.

This area is typically narrow vein and high grade and the drilling has demonstrated continuity up and down dip having intercepted multiple lodes beneath and along strike of the historic shallow open pit, which has been mined down to 55 metres. 

These assay results show strong potential to define a high grade underground resource with additional drilling.

This is just one of many historic pits and workings that have not been drill tested in the last 20-30 years.

Upcoming news for Intermin includes:

- Final Resource update from the Teal Gold Project;
- Pit optimisation studies for Teal Stage 1;
- Metallurgical results from Teal oxide, transitional and primary ore zones;
- Return of assays from Aspacia reverse drilling program expected this quarter; and
- Follow up drill programs at Menzies in the September quarter.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 17 May 2016 11:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/156796/intermin-resources-ltd-finds-more-high-grade-gold-at-menzies-project-68655.html
<![CDATA[News - Intermin Resources Ltd pockets $1.5M for Teal Stage 1 open pit in Kalgoorlie ]]> http://www.proactiveinvestors.com.au/companies/news/156795/intermin-resources-ltd-pockets-15m-for-teal-stage-1-open-pit-in-kalgoorlie-68601.html Intermin Resources Ltd (ASX:IRC) has sold its Wiluna Calcine gold tailings to Blackham Resources Ltd (ASX:BLK) for A$1.5 million.

Funds will be used to advance the development of the Teal Stage 1 open pit in Kalgoorlie with an updated gold Resource and open pit reserve study to be released in the June quarter.

Consideration will consist of an $800,000 up front cash payment with the remaining $700,000 due by 31 December 2016.

The company will also use its strengthened cash position to accelerate exploration on newly acquired tenure.

Intermin retains 100% of the proprietary technology and will continue to advance commercialisation of the technology and pursue further calcines in Australia and overseas.


Teal Gold Project

All statutory approvals are in place to construct an open pit mine at the Teal project, which has a resource of 0.9 million tonnes at 2.59 g/t gold for 75,282 ounces (>1.0 g/t gold lower grade cut-off).

Intermin is concluding financing options with open pit contractors and is reviewing ore haulage options with multiple existing milling options nearby.

Drill assays from the Teal project released in early May included 25 metres at 12.83 g/t gold from 39 metres, which included 5 metres at 48.84 g/t gold and 1 metre at 167.56 g/t gold.

These latest drill results support potential for resource growth and open pit mining of Stage 1.

Compilation of an updated Mineral Resource Estimate has commenced and samples have been dispatched for metallurgical test work.

An updated mine optimisation study and economic model is expected in the June quarter using updated pricing and cost parameters.


Analysis

Intermin shares are up 140% year to date trading at $0.13 per share.

The A$1.5 million tailings sale provides Intermin with more short term cash flow to add to its cash and investments reserves which stood at A$26 million at the end of March.

Upcoming catalysts include an updated Mineral Resource Estimate and final pit optimisation study at Teal ahead of a decision to mine the Stage 1 pit in the September quarter.

Intermin is set to benefit from a strong AUD gold price, currently trading at A$1,730 per ounce.

The location of the Teal project gives Intermin many valuable options for future milling and treatment as there are 5 processing facilities within a 40 kilometre radius of the project.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 13 May 2016 11:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/156795/intermin-resources-ltd-pockets-15m-for-teal-stage-1-open-pit-in-kalgoorlie-68601.html
<![CDATA[News - Intermin Resources Ltd hits spectacular gold grades near Kalgoorlie ]]> http://www.proactiveinvestors.com.au/companies/news/156794/-intermin-resources-ltd-hits-spectacular-gold-grades-near-kalgoorlie-68426.html Intermin Resources Ltd (ASX:IRC) has produced grades of up to 167 g/t gold in its latest round of drilling results from the 100% owned Teal Gold Project near Kalgoorlie.

Assay results included 25 metres at 12.83 g/t gold from 39 metres, which included 5 metres at 48.84 g/t gold and 1 metre at 167.56 g/t gold.

Results support potential for resource growth and open pit mining of Stage 1.

Compilation of an updated Mineral Resource Estimate has commenced and samples have been dispatched for metallurgical test work.

An updated mine optimisation study and economic model is expected in the June quarter using updated pricing and cost parameters.

Intermin’s managing director, Jon Price commented: “This project area is only 12 kilometres from the centre of Kalgoorlie-Boulder and remains seriously underexplored along a 2 kilometre strike length.

The mineralisation sits below 20-30 metres of depleted cover where a lot of the drilling has been undertaken to date.

The big question I have is what lies beneath and I am looking forward to the next round of drilling to grow this project well beyond the approved Stage 1 open pit”.


Background

Intermin is a gold exploration and development company focussed on the Kalgoorlie and Menzies areas of Western Australia.

The company’s flagship projects are the 100% owned Menzies and Teal gold projects.

Intermin recently increased its Mineral Resource at Menzies by 130%, which now stands at 2.42 million tonnes at 2.20 g/t gold for 171,310 ounces (>1.0 g/t gold lower grade cut-off).

This resource at Menzies will now form part of the mine optimisation studies for incorporation into the Menzies pre feasibility study (PFS).


Teal ready for development

All statutory approvals are in place to construct an open pit mine at the Teal project, which has a resource of 0.9 million tonnes at 2.59 g/t gold for 75,282 ounces (>1.0 g/t gold lower grade cut-off).

The project could be brought on stream quickly as there are 5 processing facilities within a 40 kilometre radius of the project with established road networks.

The soft oxide ore, which is in demand is likely to attract a discount in milling costs.

Intermin is concluding financing options with open pit contractors and is reviewing ore haulage options with multiple existing milling options nearby.

Results from the current drilling suggest there is potential for a set of mineralised westerly dipping veins. Further drilling to test this hypothesis is planned.

The location of the project gives Intermin many valuable options for future milling and treatment.


Analysis

The Teal Gold project is looking like a game changer for Intermin, which is now both an exploration and near term production play.

The share price is up over 100% year to date, trading at circa $0.115 per share. More looks to be in store.

The Teal deposit is open at depth and along strike and is a priority target for further exploration and development.

We see good potential for Teal to be a 1 million ounce gold resource in 2-3 years time.

With a number of mills in the Kalgoorlie area requiring feed, Intermin stands to gain through the development of Teal.

We expect activity at the Teal project to resume once additional metallurgical data is available.

Upcoming catalysts include an updated Mineral Resource Estimate and final pit optimisation study ahead of a decision to mine the Stage 1 pit in the September quarter.


Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

 

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Wed, 04 May 2016 10:34:00 +1000 http://www.proactiveinvestors.com.au/companies/news/156794/-intermin-resources-ltd-hits-spectacular-gold-grades-near-kalgoorlie-68426.html
<![CDATA[News - Intermin Resources Ltd has spectacular gold hits in WA ]]> http://www.proactiveinvestors.com.au/companies/news/156793/intermin-resources-ltd-has-spectacular-gold-hits-in-wa-68018.html Intermin Resources Ltd (ASX:IRC) continues to deliver results at its Teal gold project located 12 kilometres northwest of Kalgoorlie-Boulder including a spectacular hit of 32 metres at 24.05 g/t from 32 metres.

Preliminary reverse circulation drilling results at the 100% owned Teal gold project comprised 9 holes for 850 metres to a maximum depth of 120 metres.

The holes were designed to intersect gold mineralisation from within the oxide, transitional and primary ore zones located within and directly beneath the approved Stage 1 pit.

The holes cover 300 metres of strike over the Teal mineralisation.


Drill results

Highlights from the preliminary downhole intercepts from within and below the Teal Stage 1 pit design include:

- 32 metres at 24.05 g/t from 32 metres (including 4 metres at 194.78 g/t)
- 36 metres at 2.02 g/t from 36 metres (including 24 metres at 2.80 g/t from 40 metres)
-  52 metres at 2.36 g/t from 64 metres (including 12 metres at 4.26 g/t from 64 metres)
-  4 metres at 7.50 g/t from 40 metres
-  24 metres at 2.85 g/t from 52 metres (including 4 metres at 9.14 g/t)

These drill results confirm mineralisation geometry and grade across the entire strike length of the deposit to underpin the Stage 1 mine development.


Next steps

The drilling also indicates the potential at depth immediately below the oxide and transitional zone which will be assessed for mining and processing once the upcoming metallurgical testwork is completed in the June quarter.

All individual 1 metre split samples have been submitted for analysis in Perth and once returned will be used to compile an updated Mineral Resource Estimate and final pit optimisation study ahead of a decision to mine the Stage 1 pit in the September quarter.

Assay results will be incorporated into the geological model for Teal and enable confirmatory metallurgical test work to be completed on the oxide and transitional ore zones and additional test work on the primary ore zones.

An updated mine optimisation study and economic model is expected in the June quarter using updated pricing and cost parameters.


Development ready Teal

The current Teal resource of 75,000 ounces is sure to grow after drilling delivered further strong widths and high grades. The 100% owned Teal project is development ready with approvals to mine and could generate cash flow in 2016.

The project could be brought on stream fast as there are 5 processing facilities within a 40 kilometre radius of the project with established road networks. The soft oxide ore, which is in demand and could attract a discount in milling costs.

Intermin is concluding financing options with open pit contractors and is reviewing ore haulage options with multiple existing milling options nearby.

Current gold prices afford a significantly higher profit margin than was contemplated in Scoping Studies completed in 2011-15 for an initial oxide pit.


Analysis

So far in 2016, shares in Intermin have climbed around 100% to $0.10.

The exploration success and fast tracking of production at the Teal project is just one of the reasons behind the surge in the Intermin share price over the past six months.

The cashed up Intermin has joint ventures in place with strategic industry partners including Evolution Mining (ASX:EVN), Mithrill Resources (ASX:MTH)and has royalties and free carry holdings with gold companies Saracen Holdings (ASX:SAR), Norton Goldfields (ASX:NGF) and Gold Fields.

Intermin has also had exploration success at its 100% owned Menzies project, a credit to the new team behind its resurgence.

Intermin held cash and listed investments of $4.7 million, with directors and associates owning 45% of the company.

Proactive said in March 2016, "Intermin is still lightly valued given the market capitalisation of $12 million and potential to monetise assets in short / medium term."

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 12 Apr 2016 12:05:00 +1000 http://www.proactiveinvestors.com.au/companies/news/156793/intermin-resources-ltd-has-spectacular-gold-hits-in-wa-68018.html
<![CDATA[News - Intermin Resources Ltd to reveal Teal Gold drilling results ]]> http://www.proactiveinvestors.com.au/companies/news/156792/intermin-resources-ltd-to-reveal-teal-gold-drilling-results-67951.html Intermin Resources Ltd (ASX:IRC) has been granted a trading halt by the ASX, pending the release of drilling results from the Teal Gold project near Kalgoorlie.

Teal is DMP approved to be mined, with financing and a resource expansion underway.

Intermin has a strategy of consolidating fragmented and underexplored projects in the Menzies–Kalgoorlie corridor.

The halt will remain in place until the opening of trade on Tuesday 12th April 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 08 Apr 2016 09:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/156792/intermin-resources-ltd-to-reveal-teal-gold-drilling-results-67951.html
<![CDATA[News - Intermin Resources Ltd ups pace at development ready Teal gold project ]]> http://www.proactiveinvestors.com.au/companies/news/156791/intermin-resources-ltd-ups-pace-at-development-ready-teal-gold-project-67778.html Intermin Resources Ltd (ASX:IRC) is edging closer to development and mining at its Teal gold project, which is handily located just 12 kilometres northwest of Kalgoorlie as it ups the pace of work at Teal.

Although not a large current resource of 0.9 million tonnes at 2.6g/t gold for 75,000 ounces; the 100% owned Teal project is development ready with approvals to mine and could generate cash flow in 2016.

The resource base could be expanded further with along strike extensions of Teal and evaluation of the Peyes Farm gold project to the south providing a fast path to more profit at low cost.

Intermin is concluding financing options with open pit contractors and is reviewing ore haulage options with multiple existing milling options nearby.

Notably, there are 5 processing facilities within a 40 kilometre radius of the project with established road networks.

Soft oxide ore is in demand and could attract a discount in milling costs.

Providing upside on Scoping Studies completed in 2011-15 for an initial oxide pit was the then gold price of A$1,300 an ounce has increased. Current gold prices afford a significantly higher profit margin.

The economic pit shells contain between 17 – 22,000 ounces.

Latest drilling of 9 holes in March 2016 provided samples for confirmatory metallurgical testwork on oxide and transitional material and additional test work on primary semi-refractory mineralisation.

The new results will also be fed into an updated Mineral Resource at Teal.

Managing director Jon Price said development of the Teal gold project has always been high on the company’s priority list and 2016 is an opportune time to move Stage 1 into production.

He said with the A$ gold price at high levels, approvals in place, mining contractors willing to work in partnership and a number of mills in the region eager for soft oxide ore, "we expect the latest project work to provide improved margins and reduced development risk.”

Further, the project will benefit from the significant reduction in mining costs and capital risks associated with the project in the current bullish environment for gold miners.


2016 production

With Intermin fast tracking Teal to leverage higher gold prices and lower production costs, ore mining, milling and first gold production could come as early as the December quarter.

Intermin is building its portfolio of gold resources for early stage mine development in Menzies and Kalgoorlie.


Analysis

The cashed up Intermin has joint ventures in place with strategic industry partners including Evolution Mining (ASX:EVN), Mithrill Resources (ASX:MTH) and has royalties and free carry holdings with gold companies (Saracen Holdings (ASX:SAR), Norton Goldfields and Gold Fields.

This combined with the recent exploration success at Menzies and the fast tracking of the Teal production opportunity are just some of the reasons behind the surge in the Intermin share price in the last six months.

A new team focused on consolidation, growth and development is also behind the resurgence.

Another is that with the cash + investments, Intermin is still lightly valued given the market capitalisation of $12 million given potential to monetise assets in short / medium term.



Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 30 Mar 2016 14:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/156791/intermin-resources-ltd-ups-pace-at-development-ready-teal-gold-project-67778.html
<![CDATA[News - Intermin Resources Ltd buys further gold tenure in WA goldfields ]]> http://www.proactiveinvestors.com.au/companies/news/156790/intermin-resources-ltd-buys-further-gold-tenure-in-wa-goldfields-67646.html Cashed up Intermin Resources Ltd (ASX:IRC) continues to deliver on a strategy to consolidate the fragmented Menzies to Kalgoorlie corridor in Western Australia, to grow its gold ounce resources.

Intermin will issue shares worth $375,000 to Metaliko Resources Ltd (ASX:MKO) to acquire 100% of their tenement package of: four Exploration Licenses, 56 Prospecting Licenses, one miscellaneous License and five Mining Leases covering 141 square kilometres.

The projects to be acquired include:

- Highway West south of Menzies and contiguous with Intermin’s current land holding in the area;
- Goongarrie Lady deposit that adjoins Intermin’s recently acquired Goongarrie gold project 40 kilometres south of Menzies;
- Baden Powell and Windanya on the Bardoc Shear Zone 60 kilometres south of Menzies;
- Tenure on the Zuleika and Kunanulling shear zones 55 kilometres Northwest of Kalgoorlie; and
- Tenure on the Bullabulling shear zone Southwest of Coolgardie.


Jon Price, managing director, said today:

“This latest acquisition is another important step in our strategy of consolidating the Menzies to Kalgoorlie corridor and conducting systematic exploration to grow mineral inventory to support a mine development plan and processing plant in the Menzies region.

“Data integration and project review is now underway with exploration drilling anticipated in the next quarter following the drill campaigns under way at Teal and Menzies,” Price said.

Intermin will commence a detailed database review to validate previously identified targets yet to be followed up and generate new exploration targets in the area of interest.


Recent drilling

In March, Intermin grew the gold resource base at its flagship Menzies project by 130% to 171,310 ounces, north of Kalgoorlie, following exploration programs in 2014/15.

Intermin's total resource inventory is 314,370 ounces at 2.65g/t gold. This does not yet include recent higher grade deeper intercepts recently reported from drilling at Selkirk where Intermin had a 3 metre at 88.6g/t gold hit.

The Menzies projects are within a 14 kilometre strike corridor located 130 kilometres north of Kalgoorlie, where significant past production from high-grade open pit and underground mines has occurred up to the late 1990s.


Strategy

Intermin's aim is to develop a 3-5 year mine plan to support the installation of a simple, small tonnage high grade processing plant that will become a strategic asset for the region, with a Menzies Pre-Feasibility Study (PFS) underway.

This study includes the economic assessment of a small tonnage high grade processing plant at Menzies to treat ore and other third party ore that is currently carted over 130 kilometres for processing.

Jon Price said recently, "Our ultimate aim is to use milling infrastructure we have access to in Perth to construct a flexible low cost 3-400,000 tonnes per annum circuit in the Menzies area to process not only our own ore, but potentially any third party ore that is mined in close proximity.

"The focus for us will be on cash margins, not scale."

Intermin held cash and listed investments of $6.1 million in February 2016, with a low burn rate.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 22 Mar 2016 09:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/156790/intermin-resources-ltd-buys-further-gold-tenure-in-wa-goldfields-67646.html
<![CDATA[News - Intermin Resources Limited drilling development ready Teal gold project ]]> http://www.proactiveinvestors.com.au/companies/news/156789/intermin-resources-limited-drilling-development-ready-teal-gold-project-67524.html Intermin Resources Limited (ASX:IRC) is focused on the Kalgoorlie and Menzies areas of Western Australia, which are host to some of Australia’s richest gold deposits.

Intermin has now commenced reverse circulation drilling at its advanced Teal project in Kalgoorlie, with the program to cover nine holes for 904 metres.

Drilling will provide metallurgical samples for confirmatory test work on the oxide, transitional and primary mineralisation within and below the DMP approved Stage 1 oxide pit.

Jon Price, managing director, commented:

“The Teal gold project is development ready with all required approvals in place and this final reoptimisation and metallurgical work will improve geological and operational confidence as we evaluate mine development scenarios.

"I am hopeful we will have a development decision for the mining and processing of Teal Stage 1 in the June Quarter taking advantage of the current high A$ gold price.”

The new drilling within the Stage 1 pit design will also provide increased data density and improve geological confidence.

Results will be used to finalise optimisation work ahead of an updated mine development plan for Stage 1 and assess economics for a potential Stage 2 development.


Menzies gold project

At the Menzies gold project, 10 holes are planned for 1300 metres at the Selkirk prospect to follow up very high grade intercepts.

These include: 3 metres at 88.6g/t gold from 84 metres; 1 metre at 15.4g/t gold from 34 metres; and 1 metre at 16.4g/t gold from 50 metres.

There is the potential to define high grade mineralisation immediately adjacent to the Selkirk open pit over 100 metres in strike length, which could lead to a maiden resource estimate.

Price added: “Intermin has completed an extensive review of the many exploration and resource development targets at Menzies and is now focussed on systematically growing the high grade underground inventory that this region is renowned for.

"Our Resource position of 170,000 gold ounces is a good start and our aim is to add high grade ounces to develop the 3-5 year mine plan."


Analysis

Intermin’s strategy is to discover and define sufficient resources to underpin the construction of a standalone CIP/CIL processing facility designed to treat high grade free-milling ores at Menzies.

The strategy aims to take advantage of the infrastructure sites located within the company’s granted mining leases and proximity to known gold deposits.

Intermin wholly-owns both the Teal and Menzies projects.

So far in 2016, shares in Intermin have climbed around 50% to $0.075.

Intermin held cash and listed investments of $6.1 million in February 2016, with directors and associates owning 45% of the company.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 15 Mar 2016 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/156789/intermin-resources-limited-drilling-development-ready-teal-gold-project-67524.html
<![CDATA[News - Intermin Resources Limited lifts Menzies gold resource by 130% in WA ]]> http://www.proactiveinvestors.com.au/companies/news/156788/intermin-resources-limited-lifts-menzies-gold-resource-by-130-in-wa-67386.html Well funded Intermin Resources Limited (ASX:IRC) has grown the gold resource base by 130% to 171,310 ounces  at Menzies, north of Kalgoorlie, following strong exploration programs and results in 2014/15.

This includes updated Resources for Pericles and new Resources for Yunndaga, Bellenger and Warrior prospects.

The near surface oxide ore has potential for free dig open cut mining and multiple high grade shoots have been identified below the current Resource envelopes.

Total resource inventory for Intermin is growing fast and now stands at 314,370 ounces at 2.65g/t gold.

The updated resource of 2.42 million tonnes at 2.20g/t gold for 171,310 ounces does not yet include recent higher grade deeper intercepts recently reported from drilling at Selkirk where Intermin had a 3 metre at 88.6g/t gold hit.

This will be infill drilled and enable a maiden Resource to be compiled.

Further drilling is planned to test depth and along strike extensions and updated Resources for Pericles and new Resources for Yunndaga, Bellenger and Warrior fed into the expanded resource base.

The Menzies projects are within a 14 kilometre strike corridor located 130 kilometres north of Kalgoorlie, where significant past production from high-grade open pit and underground mines has occurred up to the late 1990s.

Managing director Jon Price said of today's upgrade: “The 2015 exploration and validation programs have delivered excellent results and enabled significant Resource growth at Menzies. The work ahead of us now is to grow our high grade underground inventory and the deeper drilling results reported this year provide us with great opportunity to achieve this in 2016.”

“Our aim is to develop a 3-5 year mine plan to support the installation of a simple, small tonnage high grade processing plant that will become a strategic asset for the region and we look forward to updating you on the PFS that is underway,” Price said.



Next steps and drilling plans

The new and updated resources will now form part of mine optimisation studies for incorporation into the Menzies Pre-Feasibility Study (PFS).

The PFS is investigating the establishment of a 300,000 tonnes per annum processing plant at Menzies to treat both Intermin’s ore within a 7 kilometre radius and potentially other third party material in the region.

Next drilling campaign at Menzies is planned to commence next Quarter and will focus on high grade underground targets at Selkirk, Aspacia and Pericles.

The aim is to define sufficient high grade mining inventory to add to the shallow lower grade material in the current Resource to generate a 3-5 year mine plan to trigger mine development and plant installation.

Recent very high grade intercepts at Selkirk (3 metres at 88.6g/t gold from 84m) and Pericles (3 metres at 20.1g/t gold from 106 metres) and historic data from Aspacia have provided high priority targets for follow up.



Analysis

Intermin's focus now turns to growing the very high grade narrow vein ore with multiple shoots already identified for follow up. An inventory of +100koz is being targeted to enable mine development planning and processing scenarios to be evaluated under the PFS that has commenced. This study includes the economic assessment of a small tonnage high grade processing plant at Menzies to treat ore and other third party ore that is currently carted over 130 kilometres for processing.

Intermin MD Jon Price recently told Proactive in a Q&A Session in February 2016: "We are exploring in one of the last remaining unconsolidated gold provinces in Western Australia, and the Menzies gold project has historic production since 1894 of over 1 million ounces at 22g/t gold.

"There is significant potential for high grade underground ore below 80 metres depth, the project only has limited shallow drilling in most areas and there has been no mining activity since the 1990’s when gold was A$500 an ounce.

"Our ultimate aim is to use milling infrastructure we have access to in Perth to construct a flexible low cost 3-400,000 tonnes per annum circuit in the Menzies area to process not only our own ore, but potentially any third party ore that is mined in close proximity.

"The focus for us will be on cash margins, not scale."

Intermin held cash and listed investments of $6.1 million in February 2016, with a low burn rate against a market cap. of just $10.8 million.

With directors and associates owning 45% of the company, the interests of shareholders are even more firmly aligned with those of the company's.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 08 Mar 2016 10:34:00 +1100 http://www.proactiveinvestors.com.au/companies/news/156788/intermin-resources-limited-lifts-menzies-gold-resource-by-130-in-wa-67386.html
<![CDATA[News - Intermin Resources strikes with gold project acquisition in WA goldfields ]]> http://www.proactiveinvestors.com.au/companies/news/156787/intermin-resources-strikes-with-gold-project-acquisition-in-wa-goldfields--67039.html Intermin Resources (ASX:IRC) has acquired a historic producing gold project located 40 kilometres south of the company's Menzies project in the Eastern Goldfields of Western Australia.

The Goongarrie gold project comprises 4 granted Prospecting Licenses with a Total area of 10 square kilometres and covers the historic Goongarrie gold mining centre.

Production from shallow underground and open pit mines at Goongarrie ceased in the late 1980's and produced 35,000 ounces at 5g/t gold until that date.

Total cost of the acquisition is payable in 600,000 Intermin shares payable to Cove Resources (ASX:CVE) and a vendor worth $40,200 at current prices.

The project is located at the northern end of the Bardoc Tectonic Zone, a major greenstone belt between Kalgoorlie and Menzies within the Kalgoorlie Terrane of the Archaean Yilgarn Craton.

Significantly, the tenements acquired border the edge of the BTZ on or adjacent to major trending shear zones that continue to Intermin's Menzies gold project area 40 kilometres to the northwest.

Strategically, the acquisition fits with Intermin's recent application for an adjacent permit ELA29/966.


Regional consolidation potential

Managing director Jon Price is known to be keen to participate in consolidation at asset and corporate level in the region given the fragmented ownership and underexplored portion of the eastern goldfields.

Price said the company would welcome discussions from other third parties who are active within Intermin's area of interest.

Intermin will begin exploration on the ground once a technical review has been completed.


Recent exploration at Goongarrie

Exploration has been conducted by a number of companies with the most recent work in 2011/12 demonstrating the potential for further mineralisation both along strike and below the very shallow historic mines.

Reverse circulation drill intercepts previously released demonstrate the potential of the project with broad widths and good grades of gold encountered including:

- 21 metres at 3.5g/t gold from 33 metres;
- 43 metres at 1.6g/t gold from 71 metres
- 4 metres at 14.9g/t gold from 38 metres;
- 57 metres at 1.23g/t gold from 31 metres, (including 3 metres at 7.2g/t gold);
- 3 metres at 12.9g/t gold from 10 metres; and
- 22 metres at 2.0g/t gold from 52 metres.


Menzies project

Recently the company released bonanza grade gold results from reverse circulation drilling at the Selkirk prospect, part of Intermin's Menzies project.

Highlights included 3 metres at 88.62g/t gold from 84 metres; while multiple high grade shoots were identified amenable to open cut and underground mining. Menzies has an extensive history of high-grade gold production.


Analysis

Goongarrie is an attractive acquisition as a former shallow underground producer of 35,000 ounces at around 5g/t gold for just $40,200 that is adjacent to Intermin's recent application for tenement ground.

The acquisition is on the same major NNW trending strike parallel shear zones that continue to Intermin's Menzies gold project.

Most recent drilling results provide for good probability of exploration success.

The scrip deal retains cash reserves for exploration. 

The project acquisition as well as ownership of the Menzies project could be the spur for the start of regional cooperation and consolidation opportunities to develop among an under-explored and fragmented patchwork of tenement ownership.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 16 Feb 2016 09:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/156787/intermin-resources-strikes-with-gold-project-acquisition-in-wa-goldfields--67039.html
<![CDATA[News - Intermin Resources' Jon Price talks bonanza gold in Proactive Q&A Sessions™ ]]> http://www.proactiveinvestors.com.au/companies/news/156786/intermin-resources-jon-price-talks-bonanza-gold-in-proactive-qa-sessions-66996.html Intermin Resources’ (ASX:IRC) shares are currently sitting at $0.065, for a market capitalisation circa $10 million.

Taking into account cash of $2.1 million and listed ASX investments circa $4 million, the Enterprise Value of the company is $3.9 million.

Intermin recently revealed bonanza grade gold results from reverse circulation drilling at its Selkirk prospect, part of the Menzies project north of Kalgoorlie in Western Australia.

Highlights include: 3 metres at 88.62g/t gold from 84 metres; while multiple high grade shoots were identified amenable to open cut and underground mining. Menzies has an extensive history of high-grade gold production.

To discuss the next steps, we are joined exclusively by the recently appointed managing director, Jon Price, in Proactive Q&A Sessions™.


PROACTIVE INVESTORS: Welcome Jon.

First of all, following the bonanza grade gold discoveries, what are the next exploration steps at Menzies?

Jon Price:

High grade results like these from Selkirk are typical of the Menzies region, a bit tougher to find but very rich when you do.

We have so far defined around 100 metres of strike at Selkirk and the veins are open at depth with multiple vein sets identified.

Planning for the next drilling program is already at an advanced stage to follow up Selkirk along strike and at depth together with Aspacia, Pericles and Yunndaga.

We expect to be drilling again early in the June Quarter.


Can you take investors through the gold production history of Menzies, and what Intermin Resources is looking to achieve?

Jon Price:

We are exploring in one of the last remaining unconsolidated gold provinces in Western Australia, and the Menzies gold project has historic production since 1894 of over 1 million ounces at 22g/t gold.

There is significant potential for high grade underground ore below 80 metres depth, the project only has limited shallow drilling in most areas and there has been no mining activity since the 1990’s when gold was A$500 an ounce.

Our goal is to grow the resource inventory below the existing shallow oxide resources within our own tenure, look to consolidate the Menzies to Kalgoorlie corridor with value accretive acquisitions and generate a 4-5 year mine plan to justify a standalone low tonnage high grade mining and milling operation in the Menzies area. 


What metallurgical information does the company have on the project, and what plant design would be used for gold extraction?

Jon Price:

The gold occurs mostly in the rich quartz veins so the metallurgy is excellent with a very high gravity recoverable component.

This leads to a simple low cost milling circuit design with a high capacity gravity circuit required to maximise recovery and minimise reagent consumption in the CIL circuit.

We can also utilise in pit tailings storage to reduce capex further.


In regards to ore or milling agreements, is there potential for Intermin Resources to monetise high-grade ore through third party processing?

Jon Price:

The nearest operating mills are 100 kilometres away with the toll mills 130-150 kilometres away so while this is certainly an option in the short term, we are mindful that haulage and toll milling charges erode margin.

Our ultimate aim is to use milling infrastructure we have access to in Perth to construct a flexible low cost 3-400,000 tonnes per annum circuit in the Menzies area to process not only our own ore, but potentially any third party ore that is mined in close proximity.

The focus for us will be on cash margins, not scale.

A small mill can be run continuously or on a number of different roster scenarios to match the ore mined. I have learnt the hard way that the key is to honour the geology, maximise ore extraction and minimise dilution.


You were recently appointed managing director, what specific goals and achievements did the company outline for you during 2016?

Jon Price:

Interestingly, Intermin has been an ASX listed company for 25 years but many do not know much about it.

We have developed a clear strategy for our Menzies and Kalgoorlie projects, have excellent JV partners like Evolution Mining over the Binduli north project and Mithril Resources over the Nanadie Well project, royalty and holding positions that can deliver value and the proprietary calcines gold project technology.

Our roadshow is to raise awareness and articulate this strategy to those interested in the gold space.

More specifically, we aim to significantly increase our resource inventory through exploration, complete mine optimisation studies and develop the mine plan.

We are also on the lookout for acquisitions in our area of interest and see opportunity to consolidate at, what has been, a difficult time for junior explorers.


Finally, why should an investor consider adding Intermin Resources’ to their portfolio?

Jon Price:

Intermin Resources is in the right commodity in the world class goldfields of Western Australia, we are well-funded and have an enterprise valuation of under $3 million.

For those looking for value and capital growth in the gold sector, we believe that Menzies can continue to deliver exploration success like it has to date to build a production profile.

I believe our other assets can also deliver value and neither are reflected in the current share price.

I joined the company as I see considerable potential to build a gold business in this very exciting part of the world.

And with the Australian Dollar gold price currently over A$1750 an ounce and costs of doing business declining, we believe the timing is right.

PROACTIVE INVESTORS: Thank-you Jon.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 12 Feb 2016 13:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/156786/intermin-resources-jon-price-talks-bonanza-gold-in-proactive-qa-sessions-66996.html
<![CDATA[News - Intermin Resources extends high-grade gold streak at Menzies ]]> http://www.proactiveinvestors.com.au/companies/news/156785/intermin-resources-extends-high-grade-gold-streak-at-menzies-66909.html Intermin Resources (ASX:IRC) is exploring the highly prospective Menzies gold project, where significant past production from high-grade open pit and underground mines has occurred up to the late 1990's.

Menzies is located 130 kilometres north of Kalgoorlie in Western Australia.

The final results from a 47 hole, 3556 metre, reverse circulation drilling program delivered at the Lady Harriet prospect:

- 3 metres at 9.68g/t gold from 7 metres, including 1 metre at 24.96g/t gold; and
- 4 metres at 16.80g/t gold from 44 metres; including 2 metres at 32.37g/t gold.

Results earlier in the month from the project’s Selkirk area returned: 1 metre at 15.10g/t gold from 40 metres; 1 metre at 16.41g/t gold from 50 metres; and 3 metres at 88.62g/t gold from 84 metres.

These results are typical of the region, being narrow vein and very high-grade mineralisation.

Today's new mineralisation is outside the current resource envelope.

The aim of the program was to test priority extension targets and provide additional geological data in support of the updated resource, expected in Q1 2016.

The resource will cover the Pericles prospect, with new estimates for the Lady Harriet, Bellenger and Yunndaga prospects.

Intermin continues to move the project forward, with scoping studies for development planning having commenced.

There are also resource expansion targets in the advanced planning stage, which are expected to commence once approvals are in place.

Share in the company recently hit a 12-month high of $0.065.


Historic production

Adding to the interest of today's results, the Lady Harriet prospect returned some high grade oxide results from two holes to the immediate south of the historic pit and outside current mineralisation envelopes.

Historic production at Lady Harriet was significant, and includes underground mining from 1896 to 1922, recovering 12,000 tonnes at 22.0g/t gold for 8,516 ounces, to a depth of 60 metres.

Open cut mining in 1998 recovered 262,000 tonnes at 2.89g/t gold for 24,324 ounces, to a depth of 60 metres.

For the Menzies project, historic production since 1894 is over 1 million ounces at 22g/t gold.

This shows the prospectivity of the area and that gold exists, and with modern exploration techniques, Intermin Resources has the potential to grow its resources.

Follow up drilling is required to determine the significance of the new mineralisation in relation to the surrounding prospects, and will commence once priority target evaluation and POW approvals are in place.


Analysis

While early days for Intermin Resources, the company is targeting the definition of multi-million ounce gold deposits, and is advancing a number of high quality resource projects towards a commercial outcome.

The company is focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia’s richest gold deposits.

Intermin Resources also recently appointed experienced mining executive Jon Price, as managing director.

Upcoming key catalysts include the resource upgrade expected in Q1 2016.

At the end of 2015, the company held sash and tradeable securities of $5.2 million.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Mon, 08 Feb 2016 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/156785/intermin-resources-extends-high-grade-gold-streak-at-menzies-66909.html
<![CDATA[News - Intermin Resources drills outstanding gold grades ]]> http://www.proactiveinvestors.com.au/companies/news/156784/intermin-resources-drills-outstanding-gold-grades-66837.html Intermin Resources’ (ASX:IRC) Menzies gold project in Western Australia is continuing to produce spectacular high-grade drill results in support of an upcoming resource estimate.

New assays from the project’s Selkirk area have returned 1 metre at 15.10g/t gold from 40 metres, 1 metre at 16.41g/t gold from 50 metres and 3 metres at 88.62g/t gold from 84 metres, including 2 metres at 118.57g/t gold.

Selkirk forms part of a 700-metre-long mineralised zone and remains open along strike and at depth.

The prospect and Menzies’ broader northern corridor area remain largely untested below 100 metres depth.

The multiple high-grade shoots identified at the site are considered amenable to both open cut and underground mining with excellent metallurgy.

As such, the region is interpreted as having potential to deliver moderate tonnage high-grade and high-margin open cut and underground deposits that can support a simple, centralised processing facility.

Underground and open pit production from the northern and southern mineralised corridors at Menzies totalled 2.8 million tonnes at 8.91g/t gold for some 810,000 ounces of gold up to the late 1990s.

The mineralisation at most deposits is interpreted to be open beyond the extent of historic workings.

Due to the demonstrated historic grades, orebody geometry and continuity, the historic mines represent priority targets to define further economic mineralisation.

With momentum from the latest exploration at Selkirk, follow-up drilling to test new priority targets in the advanced planning stages and expected to start once approvals are in place.

This is expected to contribute significantly to an updated resource position expected in the March quarter.
 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 03 Feb 2016 12:15:00 +1100 http://www.proactiveinvestors.com.au/companies/news/156784/intermin-resources-drills-outstanding-gold-grades-66837.html
<![CDATA[News - Intermin Resources hits high-grade gold at Menzies ]]> http://www.proactiveinvestors.com.au/companies/news/156783/intermin-resources-hits-high-grade-gold-at-menzies-66544.html New drilling at Intermin Resources’ (ASX:IRC)  Menzies gold project in Western Australia has extended mineralisation at the site beyond current resource envelopes with grades as high as 67.6g/t gold.

Key intersections returned 20 metres at 13.8g/t gold from 68 metres (including 4 metres at 67.6g/t gold), 5 metres at 10.1g/t gold from 35 metres (including 1 metre at 42g/t gold) and 5 metres at 7.3g/t gold from 23 metres (including 1 metre at 25.5g/t gold).

Other highlights marked 2 metres at 11.6g/t gold from 23 metres (including 1 metre at 18.1g/t gold), 12 metres at 2g/t gold from 64 metres (including 4 metres at 4g/t gold)  and 16 metres at 2.1g/t gold from 32 metres (including 4 metres at 6.8g/t gold).

The results are expected to be incorporated into an updated resource statement in the March quarter.

The Menzies region is considered one of the few remaining mining provinces in WA’s Goldfields to experience a resurgence in modern exploration and mining activity in the current Australian-dollar gold price environment.

Intermin’s latest drilling demonstrates the potential of the area to deliver high margin open cut and underground mines and will underpin upcoming work to expand the mineral inventory.

Intermin is well funded to deliver further resource growth and progress toward a development plan with cash and ASX listed securities to the value of A$6 million as of the end of September.


Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 13 Jan 2016 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/156783/intermin-resources-hits-high-grade-gold-at-menzies-66544.html
<![CDATA[News - Intermin Resources appoints Jon Price as managing director ]]> http://www.proactiveinvestors.com.au/companies/news/156782/intermin-resources-appoints-jon-price-as-managing-director-66417.html Intermin Resources (ASX:IRC) has appointed ex-Phoenix Gold (ASX:PXG) founder and highly regarded mining executive Jon Price as managing director effective immediately.

Price was founding managing director of Phoenix Gold and oversaw its acquisition by Evolution Mining (ASX:EVG) in 2015. During his tenure, Phoenix increased its gold resource to 4.02 million ounces, including a 1.16 million ounce reserve.

Intermin is developing the 100% owned Teal Gold Deposit located 11 kilometres north west of Kalgoorlie and has Department of Mines and Petroleum approval to mine an oxide gold resource using open cut mining methods and transport the ore to a nearby third party treatment facility.

Exploration upside appears good at Teal as the deposit is open along strike and at depth with early estimates pointing to a potential +1 million ounce gold resource.

To the west and south of the Teal deposit, Evolution Mining is earning up to 70% of the Binduli North Project in staged funding by 2018 and 2020.

Another focus for Intermin is the historic Menzies Gold Project located 130 kilometres north of Kalgoorlie where there has been historic production since 1894 of 1 million ounces at 22g/t gold.

No mining has occurred since the mid to late 1990s and the target is free-milling gold in rich quartz veins and shear zones.

The appointment of Price is significant given his exploration success at Phoenix in Western Australia, lifting the resource base and market valuation.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Mon, 04 Jan 2016 15:11:00 +1100 http://www.proactiveinvestors.com.au/companies/news/156782/intermin-resources-appoints-jon-price-as-managing-director-66417.html
<![CDATA[News - Intermin Resources strikes more gold at Menzies ]]> http://www.proactiveinvestors.com.au/companies/news/156781/intermin-resources-strikes-more-gold-at-menzies-65807.html Preliminary reverse circulation drilling at Intermin Resources’ (ASX: IRC) Menzies gold project in Western Australia is expected to result in an upgraded resource and improved economics.

The program has so far completed 37 holes for 2,454 metres, with the latest results marking 8 metres at 16 g/t gold from 20 metres (including 4 metres at 30.7 g/t gold from 24 metres) and 16 metres at 2.15 g/t gold from 16 metres (including 4  metres at 7 g/t gold from 20 metres).

Another recent hole returned 4 metres at 4.85 g/t gold form 12 metres.

The results are particularly encouraging for the project’s Pericles prospect since the shallow, high-grade mineralisation intercepted in this area is considered likely to improve open pit economics and the existing resource of 1.1 million tonnes at 2 g/t gold for 75,000 ounces of gold.

Intermin’s next activities for completion in the March quarter include an update of this resource as well as an optimisation of the project’s mine design and the start of a mining approvals process using an updated mining proposal.

Historic production at Menzies since 1894 has totalled some 1 million ounces of gold at 22 g/t gold.

However, exploration and mining activity at the site has been limited since the 1990s due to low gold prices at this time in the range of A$500 per ounce.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 25 Nov 2015 16:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/156781/intermin-resources-strikes-more-gold-at-menzies-65807.html