PERTH (miningweekly.com) – ASX-listed Intermin Resources has expanded its landholding in Western Australia, acquiring the Kanowna North project and new exploration tenure at the Yarmony project.
The Kanowna North project is located some 35 km north of Kalgoorlie, and has previously been subjected to limited reconnaissance style drilling. The project is highly mineralised and local prospectors have reported the recovery of significant gold nuggets from surface metal detecting and grading activity over a 2-km-long strike zone.
The exploration area is some 49 km north-west of Coolgardie and is immediately adjacent to and extends the Yarmony project to 15 km.
Intermin told shareholders that significant shallow gold has been intersected at historic augur and aircore drilling at priority prospects within the exploration area.
MD Jon Price said on Thursday that the Kanowna North project, in particular, is exciting owing to the amount of gold recovered by prospectors and the very little targeted exploration to identify the source.
“The new projects add to our 100%-owned asset base and provide us with multiple new advanced drilling targets to test and grow our resource profile,” said Price.
The Kanowna North project was purchased from a prospecting consortium for 500 000 shares in the company, at a deemed price of 10c a share, while the Yarmony exploration area was acquired for 75 000 shares.