OTCPK:IAUFF - Post by User
Post by
jcjohn36on Jan 13, 2011 10:53am
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Drilling results
Drilling resultsJAN 13, 2011 - 08:30 ET
BRISBANE, AUSTRALIA--(Marketwire - Jan. 13, 2011) - Intrepid Mines Limited (TSX:IAU)(ASX:IAU) (the "Company") is pleased to report that assay results from four recently completed drill holes at the Tumpangpitu Prospect at the Tujuh Bukit Project on East Java in Indonesia have shown extensive intervals of copper and gold mineralisation at grades of economic interest. These extend the lateral and depth potential well beyond the previously announced porphyry resource area (see Intrepid news release 8 November 2010).
"While these latest results further expand the already large Tumpangpitu system, subsequent drilling with five rigs has reached depths up to 1,100 metres and has continued to intersect significant mineralisation beyond the margins of our interpreted generalised porphyry system. Clearly, we are yet to reach the vertical or lateral limits of mineralisation," said Intrepid CEO, Brad Gordon.
"These are outstanding results. They are consistent with the areas of exploration potential that were defined in the recently reported resource estimates and so provide us with a high degree of confidence that our next resource estimates, scheduled for release in the first half of this year, will convert a significant amount of this potential into defined resources," added Malcolm Norris, Executive General Manager, Exploration and New Business.