Intermin Resources Limited (ASX:IRC) has recorded a mineral resource for the Crake Gold project, growing the total mineral resources to more than 667,000 ounces.
New data from drilling has been used to compile a detailed independent mineral resource estimate compliant with the JORC 2012 code.
The maiden independent mineral resource for Crake now stands at 1.12 million tonnes at 1.59 g/t gold for 57,000 ounces at a 1 g/t lower grade cut off.
Mineralisation is open to the west and north and Intermin’s total mineral resource estimate is now at 10.38 million tonnes grading 2 g/t for 667,500 ounces at a 1 g/t lower grade cut off.
Intermin managing director Jon Price said: “The successful drilling in 2018 has clearly demonstrated the potential for the Binduli project area and resulted in a significant maiden resource for the Crake project.
“We look forward to building on this in 2019 both at Crake and the other priority targets within the Binduli area and believe the project will play significant part in our future mine development plans.”
A total of 85 reverse circulation holes for 8,096 metres of resource drilling was completed at Crake in 2018, resulting in an increase of 69% in the indicated resource category.
Further breakdowns of ore types and categories are shown in the table below:
Further drilling is planned to test extensions to the mineralisation during 2019 targeting Crake and the greater Binduli project area such as the Coote, Darter and Honeyeater targets.
Initial scoping studies assessing optimal mining and processing pathways for open cut mine development will begin in the current March quarter.