Intermin Resources Limited (ASX:IRC) has released further results from reverse circulation drilling at its new discovery targets at the Teal Gold Project.
The project is in highly prospective territory, 11 kilometres from Kalgoorlie-Boulder in Western Australia.
A new prospect 200 metres east of Peyes Farm named Wills Find returned significant gold mineralisation including 18 metres at 2.69 g/t gold from 96 metres.
Expansion of resource
Managing director Jon Price said: “These latest drilling results provide further evidence of multiple parallel structures across the entire Teal project area and demonstrate the potential scale of the mineralised system.
“We are less than 20% of the way through our 55,000-metre drill program and look forward to testing the remaining new discovery targets and continuing with our resource growth program across 2018.”
Mineralisation similar to Teal Gold Mine
The shallow oxide supergene mineralisation is similar to the Teal Gold Mine where recoveries over 94% where achieved.
To date, 26 reverse circulation holes have been completed for 3,156 metres to a maximum depth of 160 metres testing new discovery targets.
The targets were identified in areas where the historic drilling was regarded as being too shallow, but are also coincident with several prospective structures.
Strategy pays dividends at Wills Find
The Wills Finds target was one such area where three holes drilled by Intermin discovered consistent, anomalous gold.
These holes were plotted and the surrounding structures tested.
The discovery hole recorded 23 metres at 1.29 g/t gold from 67 metres including a higher-grade zone of 10 metres at 2.13 g/t gold from 78 metres.
Step back drilling delivered the aforementioned 18-metre intersection grading 2.69 g/t gold.
Further results pending
Intermin has tested the five priority new discovery targets around Jacques Find and Peyes Farm with two of these areas returning significant mineralisation.
At Wills Find, diamond drilling is planned alongside further reverse circulation drilling to follow up anomalous surface mineralisation.
This will focus on targets close to where quartz veining has been dug out.
Further targets, including east of Teal and untested areas linking Peyes Farm and Teal, are scheduled to be drilled in May.