Intrepid finds greater resources at Tumpangpitu

Australian mining firm Intrepid Mines Limited reported the latest assay results from drilling around the porphyry copper-gold zone of the Tumpangpitu area of the Tujuh Bukit Project has shown an over 70% increase in resources to an estimated 1.7 billion tonnes at 0.41% copper and 0.46 g/t gold.

Previously, on May 9, 2011, the company released resource estimate of 990 Million tonnes at 0.40% copper and 0.45g/t gold.

This expanded resource has been estimated by Independent Consultants Hellman and Schofield Pty. Ltd. and reported in accordance with the JORC Code and NI 43-101. The estimate is based on 41 drill holes in excess of 700 meters for a total of approximately 36,600 meters. In addition, five deep holes failed to intersect porphyry mineralization.

"While we are pleased to have tripled the size of this porphyry resource in just a little over a year, we still have not reached the limit of the resource at Tumpangpitu, let alone across the entire Tujuh Bukit project,? said CEO Brad Gordon in a statement.

?We will soon have 11 drill rigs available. We look forward to initiating drilling at the Salakan porphyry and continuing to expand our exploration program across this exciting project area."

The company remains confident that the porphyry copper-gold resource at Tumpangpitu will continue to grow, as additional drilling is completed over the coming months. (romel)