Intermin Resources Ltd. on March 13 announced an initial resource estimate for its Anthill gold project in Western Australia, with 75% of resources categorized as indicated and mineralization remaining open in all directions.
Using a cutoff of 1 g/t of gold, the property hosts indicated and inferred resources containing 78,000 ounces of gold within 1.4 million tonnes at an average grade of 1.72 g/t of gold. Indicated resources contain 58,666 ounces of gold and inferred resources contain 19,632 ounces of gold.
The resource estimate follows more than 6,500 meters of infill, validation and extensional drilling completed in 2017.
"The successful drilling at Anthill in 2017 has confirmed the company's geological interpretation and the initial mineral resource is an excellent base on which to grow the project," Intermin Managing Director Jon Price said. "We now look forward to the upcoming extensional and new discovery drill program planned for the June quarter and believe Anthill and new targets identified within the project area have the potential to be a significant part of our future production pipeline."
In February, the ASX-listed company outlined plans to complete 14,000 meters of drilling at the Anthill project this year. Efforts will include 7,000 meters of resource drilling to test extensions along strike and at depth as well as 7,000 meters of regional discovery drilling at Fire Ant and to the north, east and west of Anthill resources.
Intermin also reported that initial scoping studies are underway to assess mining and processing options for an open cut mine development.
