Intrepid Mines reports that assay results from recent drilling around the porphyry copper-gold zone of the Tumpangpitu area of its Tujuh Bukit project on the island of Java, Indonesia, have been incorporated into the zone’s inferred resource, which is now estimated at 1.7 billion mt at 0.41% copper and 0.46 g/mt gold, at a cut-off grade of 0.2% copper. The previously released resource estimate, dated May 9, 2011, was 990 million mt at 0.40% copper and 0.45 g/mt gold.
The new estimate is based on a resource block model of approximately 3.4 km by 2.8 km. The vertical extent of mineralization defined to date is approximately 1.1 km. The estimate is based on 41 drill holes totaling about 36,600 m.
Not included in the porphyry copper-gold resource estimate is the Tumpangpitu oxide gold-silver zone, which stands at 130 million mt at 0.55 g/mt gold and 18 g/mt silver for 2.4 million oz of contained gold and 80 million oz of contained silver. This inferred resource is the subject of an on-going in-fill drill program to provide additional data for an oxide project heap leach prefeasibility study. (www.intrepidmines.com)