new NI 43-101
Intrepid Mines Limited Tujuh Bukit Indonesia NI 43-101 / JORC Compliant Technical Report Filed
Fri Nov 19, 8:00 AM
BRISBANE, AUSTRALIA--(Marketwire - Nov. 19, 2010) - Intrepid Mines Limited (TSX: IAU.TO)(ASX: IAU.AX) (the "Company") announces that the technical report entitled "Tujuh Bukit Project Report on Mineral Resources," dated November, 2010, has been filed on SEDAR ( www.sedar.com) as well as with the ASX (see the Company's news release of 30 September 2010 for the initial detail of the Resource). The report, prepared by independent consultants Hellman and Schofield Pty. Ltd. and reported in accordance with the JORC Code and Canadian NI 43-101, estimated an initial Inferred Resource of 500 million tonnes at 0.4% copper and 0.5 g/t gold, at a cut-off grade of 0.2% copper, for the known porphyry copper-gold zone within the Tumpangpitu area of the Tujuh Bukit Project in Indonesia.
Approximately 95% of the resource occurs within an area measuring 1,100 x 850 metres. The vertical extent of mineralisation defined to date is up to 800 metres. The Company is confident that the porphyry copper-gold resource base at Tumpangpitu will continue to grow as additional drilling is completed over the next 6 months. The system remains open in all directions, and at depth to the NE and SW.
The above noted Resource estimate is in addition to that occurring in the oxide gold-silver zone of 95.3 million tonnes at 0.66 g/t gold and 25.9 g/t silver for 2 Mozs contained gold and 79.4 Mozs contained silver (see release dated 25 August 2010), and which is also continuing to grow with ongoing drilling.