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Horizon Minerals Ltd

Intermin Resources delivers positive gold grades in Blister Dam drilling

The exploratory drilling is part of the company’s objective to aggressively explore and develop high-grade open cut and underground projects.

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Blister Dam is 65 kilometres northwest of Kalgoorlie-Boulder

Intermin Resources Limited (ASX:IRC) has intersected high-grade gold in an exploratory drilling program at its 100%-owned Blister Dam Gold Project in Western Australia’s Goldfields.

The 56-hole program drilled 6,954 metres to an average depth of 120 metres and generated positive assays from the Argo, Atlantic and Loran targets.

READ: Intermin Resources adds 60% to gold bounty at Anthill

Intermin managing director Jon Price said: “These latest drilling results continue to demonstrate the prospectivity of the northern region of the Zuleika shear.

“[The shear] remains relatively unexplored in comparison to the southern region which has delivered new open cut and underground discoveries and high-margin producing mines.”

READ: Intermin Resources and MacPhersons sign transformational merger deal

Results from Argo include 6 metres at 5.97 g/t gold from 66 metres and 12 metres at 4.03 g/t from 16 metres, while Loran produced 5 metres at 1.47 g/t from 66 metres.

Broad assays were obtained from Atlantic including: 7 metres at 1.54 g/t from 59 metres; 9 metres at 1.56 g/t from 69 metres; and 10 metres at 1.26 g/t from 58 metres.

The Blister Dam project area, new prospects and underlying geology

 

READ: Intermin Resources receives positive vanadium test work and starts drilling

Geological mapping and sampling of the Chadwin-Loran-Argo area has begun with the aim of improving the local stratigraphy and mineralisation model.

The Atlantic and Argo prospects were the two priorities of the 21 targets identified by Intermin in 2017.

Atlantic has relatively complex mineralisation with Intermin having to consider several models.

Tertiary lake clays up to 20 metres in depth obscure any outcrops and conceal the mineralisation.

Diamond drilling to delineate the structure and further test for high-grade gold is scheduled for next year.

READ: Intermin Resources concludes divestment of non-core interest

The newer discovery Loran sits about 400 metres northeast of the Chadwin target’s historical workings and exhibits more definitive geological control on gold minerlaisation than other areas tested at Blister Dam.

Two holes testing a soil anomaly returned a grade of 5 metres at 1.47g/t.

The ore zone is visual and sits on a sheared basalt-ultramafic contact, separated from Chadwin by a hilly outcrop of massive porphyritic basalt.

Intermin has noted soil anomalies on Loran’s adjacent flanks.

READ: Intermin Resources drill results pave way for new maiden resource

The drilling results have improved Intermin’s understanding of the Argo-Loran-Chadwin area’s prospectivity and initial work in 2019 will involve mapping, stratigraphy, sampling, geochemistry and ground magnetic surveys.

Follow-up RC drilling is planned at these and other prospects as well as diamond drilling for Argo, Atlantic and Loran.

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on 19/6/18

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