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INTERSECTION OF 2 METRES AT 69.8 G/T 200 METRES BELOW CURRENT WORKINGS
Published gold ore reserves at January 2008 were 163,000 ounces down to approximately 300 metres from surface. The mineralisation on the main orebody was initially thought to be cut off below this position, but a new geological interpretation has concluded that the main orebody had been offset by the Apollo fault to a new position approximately 40 metres to the north and updip of the original structure. This new zone has been named Voyager.
Drilling of the down plunge extension to the main Paulsens orebody and the new Voyager offset position has been ongoing since March 2008.
During the last three months, 5,370 metres of diamond drilling has been completed in the Voyager zone and 2,200 metres in the existing Upper Zone (UZ) Extension. The drilling has been completed from the 895 level hangingwall drill drive, which was specifically developed for this purpose.
The drilling indicates that both the main UZ orebody and the Voyager zone extend below previous positions. The accompanying diagram shows both the UZ and Voyager and the drilling completed to date.
The drilling on the UZ extension to the main orebody has confirmed the presence of mineralisation to 400 metres below surface, which is 60 metres below the current decline position and significantly below previous orebody knowledge. Results are encouraging and support ongoing drilling with the expectation of extensions to the currently defined mineralisation.
Initial Voyager zone intersections (drill holes PDU 381-385) also returned positive results. Follow up drilling has confirmed interpretation of the Apollo fault offset but has generally returned lower grades, indicating that the mineralisation is structurally modified. Ongoing Voyager drilling is targeting deeper areas further to the southwest. The first five new holes drilled in this area each intersected 4-9 metres of quartz and sulphides. Assays have not yet been received for these holes.
The deepest hole drilled to date, PDU 500 (2 metres at 69.8 grams per tonne gold), intersected the lower zone of Voyager and has therefore confirmed mineralisation to 500 metres below surface - the lowest stoping horizon is currently 300 metres below surface with approximately 70 vertical metres mined each year.
Geological interpretations of the deepest zones of Voyager suggest that a second, parallel, Apollo Fault may also exist down plunge.
The results to date are encouraging and support the plan to deliver additional down plunge resources to the mine on both the main UZ extension and the Voyager zone. Continued drilling will be undertaken to improve the geological understanding of the down plunge extensions, and to allow for updated resource and reserve calculations to be delivered in 2009.
To view a diagram of The UZ extension and Voyager, please visit the following:
http://media3.marketwire.com/docs/vo...
Recent intercepts comprise (estimated true width and cut to 100g/t):
------------------------------------... Hole Estimated true Au grade g/t Zone Number width (m) (cut to 100g/t) ------------------------------------... PDU 369 6.5 49.7 Voyager ------------------------------------... PDU 381 1.8 33.8 Voyager ------------------------------------... PDU 382 8.9 9.2 Voyager ------------------------------------... PDU 383 2.5 6.7 Voyager ------------------------------------... PDU384 3.5 14.9 Voyager (uncut 117g/t) ------------------------------------... PDU 385 3.3 16.3 Voyager ------------------------------------... PDU 473 9.9 20.3 Upper Zone Extension ------------------------------------... PDU 474 1.5 51.9 Upper Zone Extension ------------------------------------... PDU 477 10.5 20.0 Upper Zone Extension ------------------------------------... PDU 504 4.8 20.2 Upper Zone Extension ------------------------------------... PDU 505 1.8 50.0 Upper Zone Extension ------------------------------------... PDU 505 2.5 47.9 Upper Zone Extension ------------------------------------... PDU 508 1.8 28.6 Upper Zone Extension ------------------------------------... PDU 511 11.7 15.0 Upper Zone Extension ------------------------------------... PDU 512 10.0 16.6 Upper Zone Extension ------------------------------------... PDU 513 11.6 9.1 Upper Zone Extension ------------------------------------... PDU 449 1.0 16.0 Voyager ------------------------------------... PDU479 3.4 5.2 Voyager ------------------------------------... PDU 480 NSV(i) Voyager ------------------------------------... PDU 481 NSV Voyager ------------------------------------... PDU 488 NSV Voyager ------------------------------------... PDU 490 NSV Voyager ------------------------------------... PDU 494 NSV Voyager ------------------------------------... PDU 495 NSV Voyager ------------------------------------... PDU 496 NSV Voyager ------------------------------------... PDU 500 2.0 69.8 Voyager Lower Zone (uncut 168g/t) ------------------------------------... NSV - No Significant Value
Intrepid Mines Limited (IAU-T)
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INTREPID MINES LIMITED (IAU)
Mining and exploration
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Intrepid NuStar Exchange Corporation (IXN-T)
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Engaged in the Acquistion & Exploration of Mineral properties. |
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