Intermin Resources
Intermin Resources (ASX:IRC) is an exploration and development company focussed on Australian resource projects.
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Intermin Resources strikes with gold project acquisition in WA goldfields
Intermin Resources (ASX:IRC) has acquired a historic producing gold project located 40 kilometres south of the company's Menzies project in the Eastern Goldfields of Western Australia.
The Goongarrie gold project comprises 4 granted Prospecting Licenses with a total area of 10 square kilometres and covers the historic Goongarrie gold mining centre.
Production from shallow underground and open pit mines at Goongarrie ceased in the late 1980's and produced 35,000 ounces at 5g/t gold until that date.
Total cost of the acquisition is payable in 600,000 Intermin shares payable to Cove Resources (ASX:CVE) and a vendor worth $40,200 at current prices.
The project is located at the northern end of the Bardoc Tectonic Zone, a major greenstone belt between Kalgoorlie and Menzies within the Kalgoorlie Terrane of the Archaean Yilgarn Craton.
Significantly, the tenements acquired border the edge of the BTZ on or adjacent to major trending shear zones that continue to Intermin's Menzies gold project area 40 kilometres to the northwest.
Strategically, the acquisition fits with Intermin's recent application for an adjacent permit ELA29/966.
Other Intermin Resources news
- Intermin Resources and MacPhersons secure merger approval from Supreme Court of Victoria
2019-06-06 - Intermin Resources increases footprint in highly prospective Kalgoorlie-Boulder region
2018-06-19 - Intermin Resources resumes ore mining at Teal Gold Mine
2017-12-06 - Intermin Resources begins work on a processing pathway for its vanadium resource
2017-09-20 - Intermin Resources and partner Mithril Resources reveal new gold prospect
2017-08-07
