Intrepid Mines updates E.Java gold exploration activity
Friday, July 17 2009 - 02:04 AM WIB
East Java - Tujuh Bukit (Intrepid 80%)
Exploration at Tujuh Bukit has been ongoing and has focused on drilling at the Tumpangpitu Prospect and the completion of soil sampling over the broader Tumpangpitu area.
Two diamond drilling rigs are now on site drilling the oxide gold-silver target at Zone B. The Zone B target area has an expanded surface geochemical response based on recently completed 50 metres x 50 metres soil sampling. The anomaly extends over an area of 1,000 metres x 300 metres and drilling has to date been focused in the northern portion of the surface anomaly.
Holes GTD 59-70 were drilled during the reporting quarter and assays released to the market on 16 July 2009 for holes 59 - 65, 67, 69, and 70. Holes GTD 59 - 68, and 70 are located in the northern portion of the Zone B target and confirm that the mineralisation in this area comprises higher grade zones within a larger lower grade envelope.
The recent drilling has returned oxide intercepts including:
GTD-61 69-104 metres: 36 metres @ 0.71 grams per tonne gold, 26 grams per tonne silver, (1.11 grams per tonne gold equivalent)
GTD-63 70-110 metres: 40 metres @ 1.42 grams per tonne gold, 37.10 grams per tonne silver, (2.00 grams per tonne gold equivalent)
GTD-64 82-128 metres: 46 metres @ 2.12 grams per tonne gold, 11.48 grams per tonne silver, (2.30 grams per tonne gold equivalent)
GTD-67 142-196 metres: 54 metres @ 1.62 grams per tonne gold, 15.89 grams per tonne silver, (1.86 grams per tonne gold equivalent)
GTD-70 4-44 metres: 40 metres @ 2.10 grams per tonne gold, 5.4 grams per tonne silver, (2.18 grams per tonne gold equivalent)
The southern portion of the Zone B target is now being drilled, and the first hole, GTD 69 (drilled on the site of ZBS-1 in the diagram below) intersected:
? 4-18 metres: 14 metres @3.54 grams per tonne gold and 1.36 grams per tonne silver; 3.57 grams per tonne gold equivalent (gold + silver)
? 38-52 metres: 14 metres @2.89 grams per tonne gold and 1,64 grams per tonne silver; 2.91 grams per tonne gold equivalent (gold + silver)
The assay results from Zone B continue to define a deeper sulphide zone with significant gold-silver-copper intercepts. This will be further tested with deep drilling. Intercepts are shown in the section below.
Significant deeper sulphide intercepts include:
GTD-57: 266-372 metres: 106 metres @ 0.19 grams per tonne gold, 17.88 grams per tonne silver, (0.47 grams per tonne gold equivalent) & 0.34% copper
GTD-58: 248-278 metres: 30 metres @ 0.14 grams per tonne gold, 19.33 grams per tonne silver, (0.44 grams per tonne gold equivalent) & 0.31% copper
GTD-62 252-314 metres: 62 metres @ 0.42 grams per tonne gold, 45.2 grams per tonne silver, (1.12 grams per tonne gold equivalent) & 0.47% copper
GTD-63: 182-196 metres: 14 metres @ 1.09 grams per tonne gold, 55.14 grams per tonne silver, (1.94 grams per tonne gold equivalent) & 0.22% copper
GTD-64: 216-250.2 metres (EOH): 34.2 metres @ 0.21 grams per tonne gold, 80.16 grams per tonne silver, (1.44 grams per tonne gold equivalent) & 0.24% copper
GTD-65: 298-336 metres: 38 metres @ 0.28 grams per tonne gold, 10.37 grams per tonne silver, (0.44 grams per tonne gold equivalent) & 0.44% copper
The geometry of mineralisation in this area is still unknown.
The Indonesian Forestry Law restricts non forestry activities within protection forests and prohibits mining using an open pit method in protection forest areas. Intrepid's Alliance partner, PT IMN, is working with relevant Indonesian authorities to allow for a review of forest land status if the exploration activities support such a decision. (end of excerpt)