Intermin Resources Limited: Quarterly Activities Report 31 March 2019
Perth, Australia - Intermin Resources Ltd. (ASX:IRC) ("Intermin" or the "Company") is pleased to provide the March 2019 Quarterly Activities Report. Intermin is a gold exploration and development company with a key focus in the Kalgoorlie region of Western Australia (see Figure 1 in link below) and has a number of joint ventures in place with quality partners covering multiple commodities in Western Australia and Queensland.HIGHLIGHTS
- Intermin and MacPhersons' proposed combination through a Scheme of Arrangement progresses with the scheme booklet registered with ASIC and released to MacPhersons shareholders
- Independent Expert concludes the Scheme is in the best interests of MacPhersons shareholders with the scheme meeting to be held on 31 May 2019
- Exclusivity Deed signed with Focus Minerals Ltd. for potential acquisition of the 2.1Moz Coolgardie gold project including the 1.2Mtpa processing plant
- Maiden independent Mineral Resource estimate released for Crake which stands at:
o 1.12Mt grading 1.59 g/t Au for 57,700oz at a 1.0g/t Au lower grade cut-off
- Over 69% in the Indicated Category with mineralisation open to the west and north
- Intermin's Total Mineral Resource grew to:
o 10.38Mt grading 2.00g/t Au for 667,500oz at a 1.0g/t Au lower grade cut-off
- Menzies and Goongarrie gold project areas returned to Intermin on a 100% basis
- Excellent drilling results received from the Lady Irene prospect, part of the Menzies project area
- Exploration drilling program commenced with an initial 11,000m planned at Binduli, Teal East, Olympia, Scotia and Windanya at Kalgoorlie and Lady Irene, Selkirk and regional targets at Menzies
- Janet Ivy Mining Royalty payments of A$0.50/t continue with A$56,000 received in the March Quarter and regular quarterly payments expected through FY2019
- Cash and tradeable securities of A$6.3 million
To view the full report with tables and figures, please visit:
http://abnnewswire.net/lnk/04567MQ3
About Intermin Resources Limited:
Intermin Resources Ltd. (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 gold mine has been recently completed.
Intermin is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.
Intermin has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.
Source:
Intermin Resources Ltd.
Contact:
Jon Price Managing Director Tel: +61-8-9386-9534 E: jon.price@intermin.com.au Michael Vaughan Media Relations - Fivemark Partners Tel: +61-422-602-720 E: michael.vaughan@fivemark.com.au