Intermin Resources Limited (ASX:IRC) has received initial results confirming significAnt gold mineralisation from drilling at the Anthill Gold Project in the Western Australian goldfields.
The high-grade hits include:
• 81 metres at 1.48 g/t gold from 119 metres including 2 metres at 11.90 g/t gold from 132 metres and 15 metres at 2.24 g/t gold from 139 metres;
• 26 metres at 2.96 g/t gold from 174 metres including 1 metre at 17.9 g/t gold from 194 metres; and
• 4 metres at 15.5 g/t gold from 56 metres.
Anthill gold project regional prospect and geology plan
Intermin managing director Jon Price said: “These initial results from Anthill are now clearly demonstrating the potential scale and quality of the orebody that continues to grow with each drilling campaign and certainly justifies our belief that the Zuleika shear can deliver new large scale open cut and underground gold deposits.
“The company will continue aggressive extension and new discovery drilling at Anthill and looks forward to releasing an updated resource and continuing mine development studies.”
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The current resource at Anthill stands at 1.42 million tonnes at 1.72 g/t gold for 78,000 ounces of gold at a 1 g/t gold cut-off grade.
Over 10,000 metres of reverse circulation drilling to a maximum depth of 200 metres has now been completed at Anthill as part of the self-funded 55,000-metre 2018 program.
Next steps
Given the excellent results from the initial drilling, Intermin plans to complete a further 4,000 metres of resource extension drilling with the aim of extending the strike length further to grow the mineralised envelope ahead of a resource update and open pit optimisation studies.
In addition, over 1,000 metres of drilling has commenced on high-priority new discovery targets including Fire Ant.
Further assay results are expected in the current September quarter, an updated resource estimate in the December quarter and a development scoping study in the March quarter 2019.