Oct 20 2010
Intrepid Mines Limited (TSX:IAU)(ASX:IAU) has reported that the recently completed diamond drill hole GTD-10-162, located on the northern margin of drilling to date on the main Tumpangpitu Prospect at the Tujuh Bukit Project on East Java in Indonesia, has intersected additional significant copper, gold and molybdenum in a zone of high sulphidation overprinting porphyry mineralisation.
"The results from this hole, together with results from hole GTD-10-163, show that the mineralised system is open to the north. In fact, we have yet to define the system's limits in several directions and have a great deal of additional drilling to do to fully understand its true size", said Intrepid CEO, Brad Gordon.
Intrepid currently has four deep drills in place testing this porphyry area, as well as the mineralized area to the southeast of the main Tumpangpitu porphyry.
Hole GTD-10-162 was drilled on the northern margin of the main Tumpangpitu porphyry area and was drilled to a depth of 997.55m. The intercept is 250 metres away from hole GTD-10- 163, which was the best hole drilled on the project to date and intersected 589.5m @ 0.57 g/t Au, 0.65% Cu and 122 ppm Mo, and ended in mineralisation (see Intrepid news release dated 14 September 2010).
Data from hole GTD 162 was incomplete at the time of the recently completed resource estimate. At the time of the resource estimate data from 0 – 860m was available. Therefore all of this announced intercept was included in the recently announced Inferred resource estimate.High sulphidation mineralisation with varying degrees of relict porphyry mineralisation.
Qualified Person
The information in this announcement that relates to exploration results is based on information compiled by or under the supervision of Malcolm Norris, who is a full-time employee of Intrepid Mines Limited. Mr. Norris has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and a Qualified Person as defined in the Canadian National Instrument 43-101 (standards of Disclosure for Mineral Projects). Mr. Norris consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Sample Analysis
Intrepid exercises a strict chain of sample custody in its drilling program at Tujuh Bukit. Joint Venture personnel remove core from the drill rig and deliver it to a project geologist who logs the core and marks the core into two metre sample intervals. Intrepid and Joint Venture personnel supervise the immediate splitting, sawing and bagging of samples, and packaging of groups of samples for dispatch to the laboratory. The remainder of the split core remains on site.
Samples are securely packaged, batched, and then transported under supervision to Intertek's laboratory facility in Jakarta. At the laboratory, the samples are prepared by crushing and pulverizing and a 30 gram charge is assayed for gold by conventional fire assay and/or atomic absorption methods. Multi-element ICP analysis is carried out using a multi-acid digestion process. All samples that contain silver and/or copper, lead, and zinc values that exceed the upper detection limits for ICP are re-analysed by conventional atomic absorption methods to determine the absolute values of these metals.
Source: Intrepid Mines Limited