Intermin Resources Limited (ASX:IRC) Quarterly Activities Report 30 September 2018
Date: Oct 24, 2018
Intermin Resources Limited ( <>
HIGHLIGHTS
– Fully funded 55,000m Resource extension and new discovery drilling program continues with 20,336m drilled at the Anthill, Binduli and Blister Dam projects during the Quarter
– Highly successful new discovery and resource expansion drilling campaign completed at the Teal gold project area, 11km north-west of Kalgoorlie-Boulder
– Updated independent Mineral Resource estimate released for the Teal Project area and, after depletion from mining Teal Stages 1 and 2, stands at:
o 4.25Mt @ 2.11g/t Au for 289,000 ounces at a 1.0g/t Au lower grade cut-off, up 80%(see Note 1 below)
– Over 85% now in the Indicated Category with mineralisation open in all directions (see Note 1 below)
– Intermin’s Total Mineral Resource (after depletion) grew to:
o 8.40Mt @ 2.08g/t Au for 562,000oz at a 1.0g/t Au lower grade cut-off (see Note 1 below)
– Excellent first pass drilling results received from the Crake prospect with follow up drilling now underway and results expected in the December Quarter (see Note 2,5 below)
– Initial drilling results received from the Anthill gold project with further results and an updated Mineral Resource estimate expected in the December Quarter (see Note 3,5 below)
– A total of 3,946,347 IRCOA options exercised during the Quarter raising A$670,879 and 4,250,000 unlisted Director options exercised raising A$406,250
– Cash and tradeable securities of A$8.65 million (see Note 4 below)
