Intrepid Mines updates Indonesian gold exploration activity
Monday, January 31 2011 - 06:05 AM WIB
Indonesia ? Tujuh Bukit (Intrepid 80%), East Java
During the quarter, the main focus was drilling at Tumpangpitu prospect, while semi-regional soil sampling continued. There are currently seven drill rigs operational on the Tumpangpitu prospect ? five drilling deep porphyry holes, one drilling oxide holes, and another drilling geotechnical holes to the north and northeast of Tumpangpitu.
The seven rigs completed a total of 8,287.45 m of drilling in the quarter at an average of 6.85 m per shift drilled. The porphyry and oxide drilling comprised 8,043.95 m, and the geotechnical drilling totalled 243.5 m.
On 19 October 2010, significant results were announced from hole GTD-10-162 which intersected 522 m at 0.45 g/t Au, 0.48% Cu & 127 ppm Mo, including 68 m at 0.59 g/t Au, 1.00% U, and 729 ppm Mo. This hole, located in the north east of the Tumpangpitu gold-copper-molybdenum porphyry area, approximately 200m west of hole GTD-10-163, confirms that mineralisation is open to the north and north-east of the current limit of porphyry drilling.
On 8 November 2010, significant results were announced from holes GTD-10-165, GTD-10-166, and GTD-10-167.
Holes GTD-165 and 166 were drilled near the S-E boundary of the area of the recently announced porphyry copper-gold resource estimate (500 Mt at 0.5 g/t Au and 0.4% Cu). Both holes returned grades superior to the current resource average. GTD-165 returned 120 m at 0.89 g/t Au and 0.58% Cu; GTD-1 66 returned 296 m at 0.67 g/t Au,and 0.56% Cu. These intercepts suggest that the better mineralised zones are deeper to the S-E. This interpretation is also partially due to the presence of a weakly mineralised diatreme breccia body occurring in the upper intervals of the holes.
Hole GTD-10-167 was drilled between holes GTD-35 and GTD- 139 to better define the geometry of the high grade zone. The intercept in hole GTD-167 of 398 m at 0.77g/t Au and 0.54% Cu, including 100 mat 1.29 g/tAu and 0.89% Cu, supports the inverted arcuate geometry interpreted for the high grade zone. Hole GTD-35 intersected 630 m at 0.45g/t Au and 0.44% Cu including 108 m at 0.95g/t Au and 0.9% Cu. Hole GTD-139 intersected 374 m at 1.03g/t Au and 0.5% Cu including 106 m at 2.78g/t Au and 1.24% Cu.
The NI 43-101 technical report on the resource estimate for the porphyry copper-gold mineralisation was lodged on 19 November.
Six rigs are currently active on porphyry and oxide drilling. Five of the rigs have capacity to drill to a depth of 1,200 m and the sixth rig, currently drilling oxide holes, has the capacity to drill 850 m. The drilling program continues to comprise holes around the margins of the current known porphyry system and holes drilling the area between the main Tumpangpitu porphyry and the porphyry intersected in hole GTD-137 underneath the Zone B oxide mineralization. (end of edited excerpt)