Intrepid reports drilling result from Tujuh Bukit zone A gold prospect

Brisbane-based mining firm Intrepid Mines Limited reported Friday that first pass drilling has been completed at Zone A at the Tumpangpitu Prospect in Tujuh Bukit Project, Banyuwangi, East Java.

Results from hole GTD 49, drilled in the central portion of Zone A, on the SW margin of the grid drilled area, has returned assay results that are the best results returned from any oxide hole on the project to date. Drilling at GTD 49 has resulted in 487.8 metres @ 1.34 g/t gold, 28.26 g/t silver, or 1.77 g/t gold equivalent, including 212 metres @ 2.26 g/t gold, 44.08 g/t silver, (2.94 g/t gold equivalent) from 166 metres down hole, the company said

?The results from hole GTD 49 are very encouraging and support the growing evidence of the existence o significant higher grade zones within the broad oxide mineralization. These higher grade zones will be better defined once mull drilling commences in Zones A, B and C during 2009,? the company said.

Intrepid will release the Zone A oxide resource estimate during December 2008. This will add to the current resource inventory at Zone C.

Meanwhile, the company also reported that its local partner in the project PT Inti Multi Niaga is working with relevant Indonesian authorities to allow for a review of forest land status as the Indonesian forestry law restricss non forestry activities with protection forests and prohibits mining using an open pit method in protection forest areas. (denny)