Intrepid reports assay results from East Java gold project

Australian mining firm Intrepid Mines Limited said on Thursday the assay results from four recently completed drill holes at the Tumpangpitu prospect at the Tujuh Bukit gold project in East Java have shown extensive intervals of copper and gold mineralisation at grades of economic interest.

?While these latest results further expand the already large Tumpangpitu system, subsequent drilling with five rigs has reached depths up to 1,100 metres and has continued to intersect significant mineralisation beyond the margins of our interpreted generalised porphyry system. Clearly, we are yet to reach the vertical or lateral limits of mineralisation,? said Intrepid CEO, Brad Gordon.

?These are outstanding results. They are consistent with the areas of exploration potential that were defined in the recently reported resource estimates and so provide us with a high degree of confidence that our next resource estimates, scheduled for release in the first half of this year, will convert a significant amount of this potential into defined resources,? added Malcolm Norris, Executive General Manager, Exploration and New Business.

Hole GTD-168 was drilled approximately 350m beyond the margin of the main portion of the porphyry resource and beyond the margin of the generalised porphyry system outline. The hole intersected 429 metres at 0.38 g/t gold and 0.53% copper, including 72 metres at 0.64g/t gold and 0.97% copper. The hole ended in mineralisation at 1070.65 metres.

Hole GTD-172 was drilled on the fringes of the porphyry resource on the eastern side of the porphyry system. The hole intersected 336 metres at 0.14g/t gold and 0.47% copper.

Hole GTD-169 intersected 604 metres at 0.36g/t gold and 0.38% copper including 54 metres at 0.48g/t gold and 1.15% copper. The hole ended in mineralisation at 1101.75 metres.

Hole GTD-170 intersected 664m at 0.42g/t gold and 0.43% copper including 196 metres at 0.59g/t gold and 0.55% copper. The hole ended in 0.30g/t gold and 0.30% copper at 997.95 metres.

The results from holes GTD-169 and 170 support the geological interpretation that the mineralised zone in this area may roll over to a vertically extensive zone. The intercepts in GTD 169 and 170 are some of the thickest drilled to date. Importantly, the high grade zone intersected in GTD-169 appears to correlate with high grade zones intersected in GTD-139, GTD-167, and GTD-35.

GTD-169 and 170 have also returned locally very high molybdenum assays of >0.3% (up to 4700 molybdenum in GTD-170 and up to 3190 molybdenum in GTD-169). (kanti)