Intrepid reports ?significant? porphyry copper-gold intercept at E. Java project

ASX-listed mining firm Intrepid Mines Limited reported on Friday that hole GTD-08-35, from the Tujuh Bukit Project in East Java, has intersected ?extremely encouraging? copper-gold assays from the porphyry copper-gold zone previously intersected in hole GTD-08-29.

Hole GTD-08-35 intersected 627.2m at 0.45 g/t gold and 0.44% copper from222m, including 108m at 0.9 g/t gold and 0,9% copper from 530m. This compliments the intercept in hole GTD-08-29, previously reported, as 268m at 0.47 g/t gold and 0.32% copper from 390m, including 100m at 1.02 g/t gold and 0.55% copper from 530m, the company reported.

In addition, Intrepid has received final assay results for the first 2 holes drilled at Zone A into the near surface oxide and sulphide High Sulphidation system.

Brad Gordon, Intrepid Mines Chief Executive Officer commented: ?This is an extremely significant intersection for the Tujuh Bukit project. It starts to add some concept of scale to the porphyry copper-gold system and has once again confirmed the high gold tenor of the porphyry system.?

The company said the next deep hole targeting the porphyry copper-gold zone has commenced and is located approximately 600m west of the collar of hole 35 and is drilling to the NE.

The company said it is now working with relevant Indonesian authorities to allow for a review of forest land status of its concession. (denny)