PERTH (miningweekly.com) – Gold developer Intermin Resources has reported a 120% increase in its mineral resource estimate at the Teal project, in Western Australia.
The gold project’s mineral resource now stands at 2.27-million tonnes, at 2.18 g/t gold for 159 389 oz of gold, with the total mineral resource growing to 4.95-million tonnes, grading 2.24 g/t gold for 356 000 oz.
Intermin MD Jon Price on Wednesday said the 2016 drilling programme had delivered "excellent results", which resulted in the increased resource.
“We now look forward to expanding these resources further along strike and at depth and completing mining studies to bring these projects into our production pipeline,” Price said.
Ore production at the Teal gold mine started this month, with first gold sales slated for April.
The Stage 1 development will see the mining of 171 500 t of material, grading 3.2 g/t gold, to produce around 15 567 oz of gold over a nine-month mine life.