Intermin Resources Ltd (ASX:IRC) has received assays from initial resource drilling at its 100% owned Binduli gold project near Kalgoorlie in Western Australia.
Assays from the first 25 reverse circulation (RC) holes intersected significant gold at the Crake prospect including 28 metres at 3.30 g/t gold from 56 metres.
Crake is one of five high priority prospects at Binduli that have had limited drilling and remain relatively untested at depth.
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Intermin’s managing director Jon Price said: “To be intersecting excellent width and grade at relatively shallow depths in our initial program at Crake is extremely encouraging and we look forward to receiving the remaining assays from the drilling program in coming weeks and compiling an initial resource model.
“The Binduli project area now joins Teal, Anthill and Blister Dam as a key asset in our gold portfolio with these drilling results providing growing confidence to accelerate further drilling at Crake and the other four priority prospects within this world class gold producing region.”
Gold over 250 metres strike, remains open
Initial drill results show significant gold mineralisation over a 250-metre strike length which remains open along strike and at depth.
Prospects within the Binduli project area could become valuable resource extensions to the nearby Teal, Anthill and Blister Dam gold projects.
More results pending, further drilling planned
The remaining drilling results are expected in July and August.
Following their receipt, an accelerated structural and extensional drilling program will be designed to test Crake as well as other high priority prospects within the Binduli project area.
The new data will also be used to compile a new resource model for Crake.
Given the strong results to date, an additional rig will be required to complete the upcoming drilling at Binduli in the September and December quarters with the existing rigs now completing the 14,000-metre program at Anthill followed by the 14,000-metre program at Blister Dam.