Intermin Resources has acquired Kanowna North project and a new exploration tenure at the Yarmony development in the Kalgoorlie-Boulder region of Western Australia.
The Kanowna North project consists of one granted Mining Licence (M27/487) and two granted Prospecting Licences (P27/2209 and P27/2215) covering 275.35ha, 17km north-west of the 10Moz Kanowna Belle Mining Complex and 9km south of the 1Moz Mulgarrie Mining Complex.
Intermin considers the project to have significant potential as there is demonstrated gold at surface.
The project has been purchased on a 100% basis from a prospecting consortium for the consideration of 500,000 intermin shares at a deemed price of $0.10 each.
Data compilation has started and field checking historic drill hole collar locations and workings will be undertaken in January followed by submission of programme of work documents for Department of Mines and Petroleum approval.
Intermin purchased the Yarmony prospect, 49km north-west of Coolgardie, for 75,000 shares at 10 cents each.
The company added that data compilation has started at the Yarmony site, while field checking of historic drill hole collars and workings will be undertaken in the March quarter followed by submission of POW documents for DMP approval.
Intermin managing director Jon Price said: “The new projects add to our 100% owned asset base and provide us with multiple new advanced drilling targets to test and grow our resource profile.”
Image: Gold nuggets recovered from Kanowna North project. Photo: courtesy of Intermin Resources.