Gold exploration and mining company Intermin has announced the acquisition of the Kanowna North project and new exploration tenure at the Yarmony project in the Kalgoorlie-Boulder region of Western Australia.
The Kanowna North gold project is located 35km north of Kalgoorlie over prospective shear zones and granite-greenstone contacts where only limited reconnaissance drilling has occurred.
The project comprises one granted Mining Licence (M27/487) and two granted Prospecting Licences (P27/2209 and P27/2215)covering 275.35 hectares located 17km northwest of the +10Moz Kanowna Belle Mining Complex and 9km south of the+1Moz Mulgarrie Mining Complex.
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 per share.
Exploration tenement E16/470 within the Yarmony project (890 hectares) is located 49km northwest of Coolgardie and 12km southwest of the Dunnsville mining centre. The project is immediately east of the western margin of the Kalgoorlie Terrane marked by the Ida Fault which is a crustal scale, east dipping structure extending to greater than 115km below surface.
This project has also been purchased on a 100% basis from a prospecting consortium for the consideration of 75,000 Intermin shares at a deemed price of $0.10 per share.
Intermin Managing Director Jon Price said the Kanowna North project in particular looks exciting due to the amount of gold recovered by prospectors and very little targeted exploration to identify the source.
“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,” he added.