Intrepid intersects additional copper-gold porphyry at E. Java prospect

Australian miner Intrepid Mines Limited said on Thursday that diamond drill hole GTD-09-138 at the Tumpangpitu prospect, Tujuh Bukit copper-gold project in East Java has intersected additional significant copper, gold and molybdenum in zones of high sulphidation and porphyry mineralisation.

The result from GTD-09-138 are 118 meters at 0.37 g/t gold and 0.36% copper and 455 meters at 0.39 g/t, 0.34% copper and 72 ppm molybdenum (hole 138), the company said in statement.

?This hole delivers additional proof that the Tumpangpitu porphyry zone is emerging as a giant mineralised system now extending over an area of at least 900m x 600m,? said CEO Brad Gordon. ?The mineralisation is well and truly open laterally in all directions, and the vertical extent now exceeds 800m.?

By comparison, the Batu Hijau porphyry copper-gold deposit located in West Nusa Tenggara, 320km east of Tujuh Bukit, contains approximately 1 billion tons at 0.45 percent Cu and 0.45g/t Au and measures approximately 900m x 800m (at a 0.3 percent Cu and a 0.3g/t Au boundary). Mineralization extends more than 1km vertically, it added.

Four holes remain to be drilled in the Tumpangpitu area to enable the first (JORC / NI 43-101 / compliant) estimation of a resource of the copper-gold-molybdenum system, which is scheduled to be available in August of this year.

The domain between the traverse containing hole GTD 138 and the recent porphyry hole under Zone B (86m at 1.11g/t Au and 0.56 percent Cu), 1.2km to the SE, will be the subject of further deep drilling in H2, 2010. (kanti)