Intermin Resources Limited: Menzies and Goongarrie gold projects return to Intermin
Perth, Australia - Intermin Resources Ltd. (ASX:IRC) ("Intermin" or "the Company") wishes to advise that it has agreed a Deed of Settlement and Termination with Eastern Goldfields ("EGS") (Administrators appointed) covering the Menzies and Goongarrie farm in joint venture1 with the projects now returning to Intermin on a 100% basis.All relevant mining and geological information, drilling samples and property pertaining to the projects will be returned to Intermin. Intermin now intends to undertake a detailed review of work completed by EGS and integrate both the Menzies and Goongarrie projects into the exploration and development programs planned for 2019.
In addition, Intermin has arranged for the off market sale of all the remaining shares held by EGS which was taken up by existing Intermin shareholders.
About Intermin Resources Limited:
Intermin Resources Ltd. (ASX:IRC) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.
Intermin is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.
Intermin has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.
Source:
Intermin Resources Ltd.
Contact:
Jon Price Managing Director Tel: +61-8-9386-9534 E: jon.price@intermin.com.au Michael Vaughan Media Relations - Fivemark Partners Tel: +61-422-602-720 E: michael.vaughan@fivemark.com.au
