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Intermin's Goongarrie Lady scoping study estimates 14,700-gold-ounce output


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Intermin's Goongarrie Lady scoping study estimates 14,700-gold-ounce output

Intermin Resources Ltd.'s scoping study for its Goongarrie Lady gold project in Western Australia estimated recovery of 14,700 ounces at all-in costs of A$1,081 per ounce.

The free cash flow over the seven-month project life is estimated at A$7.6 million, according to the March 29 release.

The upfront capital costs are estimated at A$530,000.

The study uses a base case gold price of A$1,600 per ounce and a mineral resource estimate of 272,000 tonnes at 2.86 g/t of gold for 25,028 ounces, at a 1 g/t of gold cut-off grade.

The company is targeting a feasibility study in the September quarter, which will be soon followed by a development decision.

Intermin recently started ore mining in the northern section of the Teal open pit, part of its Binduli North gold property in Western Australia.