Self Funding the Search for Australia's Next Gold DiscoveryPerth, Oct 6, 2017 AEST (ABN Newswire) - Intermin Resources Limited (ASX:IRC) provides the Company's latest Investor Presentation.
- High quality landholding in the Goldfields of Western Australia
- Strong leadership with extensive WA gold mining and exploration experience
- Growth strategy centered on discovery and resource expansion through exploration
- Generating near-term cash by developing gold projects via third party infrastructure
- Over $7m cash and investments with robust 2018 and 2019 mining project pipeline
- Largest ever drill program commenced for FY18 -50% targeting new discoveries
- Pursuing regional consolidation opportunities of high potential exploration assets
- Joint ventures for multi-commodity non-core projects with quality partners
Major FY18 Drill Program 60% complete
- Largest ever drill program of 32,000m for FY18 -50% of drilling budget on greenfields targets
- Targeting based on results of recent drill campaigns and six month review of geological, geochemical, geophysical and historic databases
- Program to target the Anthill project acquired in March 2017 - validating and upgrading quoted 160,000oz resource - Initial diamond hole result of 105m at 1.38g/t Au including 42m at 2.35g/t -further results this month
- Substantial 6,700m new discovery program at Blister Dam/New Mexico testing 21 targets including historic drill hits of 9m at 3.43g/t Au. Results expected this Quarter
- First pass drilling of Bardoc, Black Flag and Janet Ivy South targets. Recent hit at Baden Powell of 17m at 3g/t Au
- Funding and flexibility to rapidly expand programs following strong results
- Focus on gold in Australia, Intermin's core competency
- Five key growth pillars:
1.Develop advanced mining projects to generate cash
2.Self fund aggressive exploration targeting large scale new discoveries, future mine developments and further asset acquisitions
3.Incrementally grow the production profile to emerging mid-tier status through discovery and asset acquisitions with the key focus on cash margins
4.Pursue consolidation in the region at corporate level to deliver step change opportunities
5.Engage and participate with quality partners to unlock value on joint venture projects
To view the full presentation, please visit:
About Intermin Resources Limited
Intermin Resources Limited (ASX:IRC) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal Stage 1 gold mine is currently in production.
Intermin is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core projects and build a sustainable development pipeline.
Intermin is targeting the definition of significant high grade open cut and underground gold deposits, has acquired highly prospective tenure and will continue to actively pursue consolidation and value-adding joint venture opportunities for the benefit of all stakeholders.
Intermin Resources Limited