Intermin Resources resumes ore mining at Teal Gold Mine

2017-12-06 13:23:00
The company has maintained its guidance of 18,000 - 20,000 ounces of gold.
First processing campaign to commence on 13 December

Intermin Resources Ltd (ASX:IRC) has resumed ore mining at its Teal Gold Mine, located 11 kilometres northwest of Kalgoorlie-Boulder in Western Australia.

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

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

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

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

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

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

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

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

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

Jon Price, managing director, said: “It is extremely pleasing to see the completion of the pre-strip at Teal Stage 2 ahead of schedule which is a credit to the team and our mining alliance partner RM Contracting.

“Teal is continuing to deliver to forecast grade with recovery exceeding expectations and we look forward to further cash generation from this successful project during 2018 in what is a very healthy gold price environment.”

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