http://www.proactiveinvestors.com.a...td-has-spectacular-gold-hits-in-wa-68018.html
● 32m @ 24.05g/t Au from 32m (including 4m @ 194.78g/t Au from 44m) – TRC1608
● 36m @ 2.02g/t Au from 36m (including 24m @ 2.80g/t Au from 40m) – TRC1605
● 52m @ 2.36g/t Au from 64m (including 12m @ 4.26g/t Au from 64m) – TRC1609
● 24m @ 2.85g/t Au from 52m (including 4m @ 9.14g/t Au from 72m) – TRC1603
today's vwap was 11.32c on record volume traded 2,266,451 so should start appearing on people's radar's this week imo
P.S. Tried to upload a 10 yr daily chart but wouldn't work..
Cheers tela
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previous ann 22/03/16 'Intermin Resources Ltd buys further gold tenure in WA goldfields'
Cashed up Intermin Resources Ltd (ASX:IRC) continues to deliver on a strategy to consolidate the fragmented Menzies to Kalgoorlie corridor in Western Australia, to grow its gold ounce resources.
Intermin will issue shares worth $375,000 to Metaliko Resources Ltd (ASX:MKO) to acquire 100% of their tenement package of: four Exploration Licenses, 56 Prospecting Licenses, one miscellaneous License and five Mining Leases covering 141 square kilometres.
The projects to be acquired include:
- Highway West south of Menzies and contiguous with Intermins current land holding in the area;
- Goongarrie Lady deposit that adjoins Intermins recently acquired Goongarrie gold project 40 kilometres south of Menzies;
- Baden Powell and Windanya on the Bardoc Shear Zone 60 kilometres south of Menzies;
- Tenure on the Zuleika and Kunanulling shear zones 55 kilometres Northwest of Kalgoorlie; and
- Tenure on the Bullabulling shear zone Southwest of Coolgardie.
Jon Price, managing director, said today:
This latest acquisition is another important step in our strategy of consolidating the Menzies to Kalgoorlie corridor and conducting systematic exploration to grow mineral inventory to support a mine development plan and processing plant in the Menzies region.
Data integration and project review is now underway with exploration drilling anticipated in the next quarter following the drill campaigns under way at Teal and Menzies, Price said.
Intermin will commence a detailed database review to validate previously identified targets yet to be followed up and generate new exploration targets in the area of interest.
Recent drilling:
In March, Intermin grew the gold resource base at its flagship Menzies project by 130% to 171,310 ounces, north of Kalgoorlie, following exploration programs in 2014/15.
Intermin's total resource inventory is 314,370 ounces at 2.65g/t gold. This does not yet include recent higher grade deeper intercepts recently reported from drilling at Selkirk where Intermin had a 3 metre at 88.6g/t gold hit.
The Menzies projects are within a 14 kilometre strike corridor located 130 kilometres north of Kalgoorlie, where significant past production from high-grade open pit and underground mines has occurred up to the late 1990s.
Strategy:
Intermin's aim is to develop a 3-5 year mine plan to support the installation of a simple, small tonnage high grade processing plant that will become a strategic asset for the region, with a Menzies Pre-Feasibility Study (PFS) underway.
This study includes the economic assessment of a small tonnage high grade processing plant at Menzies to treat ore and other third party ore that is currently carted over 130 kilometres for processing.
Jon Price said recently, "Our ultimate aim is to use milling infrastructure we have access to in Perth to construct a flexible low cost 3-400,000 tonnes per annum circuit in the Menzies area to process not only our own ore, but potentially any third party ore that is mined in close proximity.
"The focus for us will be on cash margins, not scale."
Intermin held cash and listed investments of $6.1 million in February 2016, with a low burn rate.
With directors and associates owning 45% of the company, the interests of shareholders are even more firmly aligned with those of the company's.
-- please dyor as always
Cheers tela
http://www.proactiveinvestors.com.a...rther-gold-tenure-in-wa-goldfields-67646.html