Intrepid discovers new copper-gold prospects in E. Java

Brisbane-based Intrepid Mines Limited reported Thursday that that interpretation of semi-regional soil sampling, recently completed detailed heli-magnetic surveys, and geology over the Tujuh Bukit project area, has identified several new anomalies that will be systematically followed up over the next few months.

One of the anomalies is Katak Prospect located 2.5km NE of the known Tumpangpitu mineralisation. Katak is a coincident copper-gold-molybdenum soil anomaly covering an area of 650 x 500m, with a peak copper value in soils of 0.235% - the highest copper-in-soils response from the project, the company said.

This is considered a significant discovery and it is expected that drilling will commence in early 2010 once drilling rigs have completed the current phase of the oxide drilling program.

The prospect is located within Production Forest and so does not carry additional risk of limitations on development, the company said.

Tujuh Bukit is located in the province of East Java and covers an area of approximately 11,600 hectares, about 205 kilometres southeast of Surabaya, the provincial capital.

Intrepid and its Indonesian partner had earlier signed deal with Brazilian giant to investigate possibility to develop sulphide copper-gold resources at Tujuh Bukit.(alex)