Intrepid Mines Limited (TSX:IAU,ASX:IAU) has reported that assay results from drilling completed since January 2012 around the porphyry copper-gold zone at the Tumpangpitu prospect of the Tujuh Bukit Project in Indonesia, have been incorporated to deliver an updated resource.
Highlights of the press release include:
– New Tumpangpitu porphyry Inferred resource now stands at 1.9 billion tonnes at 0.45% copper and 0.45g/t gold (19 billion pounds of contained copper and 28 million ounces of contained gold at a 0.2% copper cut-off)
– The high grade core of 1.0 billion tonnes at 0.61% copper and 0.61g/t gold (at a 0.4% copper cut-off) is the focus of an on-going scoping study
– The new resource estimate delivers a 9% increase in copper grade (and an increase in contained copper and gold by 34% and 23% respectively) at a 0.4% copper cut-off