Release: Intrepid Mines: Inaugural resource at Tujuh Bukit gold project
Monday, July 28 2008 - 01:27 AM WIB
The resource has been estimated by Independent Consultants Hellman and Schofield Pty Ltd and reported in accordance with the JORC Code. It is based on drill data from the 80m x 80m grid that covers an area of approximately 400m x 300m over Zone C.
Zone C is one of three zones of known oxide and sulphide gold-silver mineralisation within the Tumpangpitu Prospect and remains open to the north and the south.
Zone A is currently being drilled with results expected in October, 2008 whilst drilling at Zone B is scheduled to commence in September, 2008.
Summary of Inferred Resources, by AuEq cut-offs, Zone C
| Cut-off (Au Eq) | Tonnes (m) | AuEq (g/t) | Cu (%) | Au (g/t) | Ag (g/t) | Oz Eq (m) |
| 0.50 | 36.50 | 0.92 | 0.1 | 0.53 | 25 | 1.1 |
| 1.00 | 10.00 | 1.54 | 0.12 | 0.79 | 49 | 0.5 |
| 1.50 | 3.74 | 2.10 | 0.05 | 0.90 | 78 | 0.3 |
Further details of the resource estimation, at various Au only cut-off values, and on the basis of oxide, transitional and sulphide mineralisation are tabulated below.
Intrepid?s Managing Director, Brad Gordon, said: ?Delivery of the Zone C Interred Resource completes one of the stated goals of the project ? delineation of a resource estimate by mid 2008. Intrepid will continue to advance this project and is active in several areas including project technical work, community development, environmental and land status issues.
?The combination of good potential for increased mine life at Paulsens, the decision to proceed with construction of the low cost Casposo project in Argentina and this potential company maker at Tujuh Bukit in Indonesia, sets us well on the path to becoming a significant international producer.
?Zone C alone doubles Intrepid?s precious metals resource base with Tujuh Bukit representing the potential for a third mine in the portfolio.? (end of edited release)