The major discovery and resource expansion drill program will include Goongarrie Lady, Anthill, Blister Dam, New Mexico, Baden Powell, Olympia, Windanya, Jacques Find and Peyes Farm.
Jon Price, interim managing director, commented: “With significant free cash flow being generated from our first mining project at Teal, the company is now targeting exploration success as we kick off the largest drill program in Intermin’s history.
“New discovery drilling comprises more than 50% of the $2.2 million program with priority walk up targets on the prolific Zuleika Shear and Bardoc Tectonic Zone.
“Most of these targets have not been drill tested for 20 years or beyond 100 metre depth and large discoveries are still being made in the region.”
Drill program summary
During the last six months, Intermin has compiled and reviewed the large geological database in order to identify priority targets for ranking and drill testing.
Extensive field reconnaissance investigations were undertaken to confirm the targets and finalise the design of the FY2018 program.
A summary of the 31,600 metre program and which project it is targeting is shown below:
- Goongarrie Lady: 5,070 metres - resource upgrade to “Measured” for feasibility study;
- Anthill: 7,650 metres - validation and extensional upgrade for JORC 2012;
- Blister Dam / New Mexico: 6,700 metres - new discovery drilling to 250 metres depth targeting “Kundana” style open cut and underground mineralisation;
- Baden Powell: 1,100 metres - new resource drilling to upgrade to JORC 2012;
- Olympia / Windanya: 3,150 metres - first pass testing of identified anomalies;
- Jacques Find / Peyes Farm: 1,280 metres - resource extension drilling;
- Regional projects: 1,400 metres - first pass testing of priority targets at Black Flag, Bullabulling and Janet Ivy South; and
- Follow up provision: 5,250 metres - drilling based on initial results received.
Key aspects of the fully funded program include:
- Circa half of budgeted drill metres is targeting new discovery;
- Resource infill, geotechnical, hydrogeological and metallurgical drilling at the Goongarrie Lady deposit to complete the open pit mine development feasibility study;
- Resource validation and expansion drilling at the recently acquired Anthill deposit and exploration drilling along strike at the Blister Dam project which are both located on the highly prospective Zuleika Shear northwest of the Kundana goldfield;
- Resource expansion drilling at the new high-grade Jacques Find deposit including testing two priority induced polarisation anomalies along strike at the Yolande prospect; and
- Exploration drilling on Bardoc Tectonic Zone projects at the Olympia, Baden Powell and Windanya prospects.
First results are expected in the current September quarter.