Sign up Australia
Proactive Investors - Run By Investors For Investors

Intermin Resources' gold intercepts will boost resource ounces at Anthill

Anthill is located 54 kilometres north-west of Kalgoorlie-Boulder.
Intermin Resources' gold intercepts will boost resource ounces at Anthill
More news will flow from Anthill

Intermin Resources Ltd's (ASX:IRC) shares have climbed 5.7% higher to $0.093 in early trade, following the company revealing broad gold zones on the Zuleika Shear in the Western Australian Goldfields.

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

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

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

Jon Price, managing director, commented:

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

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

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

The Intermin strategy

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

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

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

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

View full IRC profile View Profile

Intermin Resources Ltd Timeline

Related Articles

Great Boulder Resources' Stefan Murphy at the Proactive's CEO Sessions
September 15 2017
Stefan Murphy discussed the highly anticipated Mt Venn next steps at Proactive's CEO Sessions.
1510522937_cobalt-blue_joe-in-korea.jpg
November 13 2017
The company is the only "pure play cobalt" ASX-listed company with >80% leverage to cobalt.
picture of tungsten drill
May 17 2017
Commissioning of the second phase at Kiziltepe is expected by the second quarter of 2018

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

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