The project is located at the northern within the highly prospective Bardoc Tectonic Zone (“BTZ”), a major greenstone belt between Kalgoorlie and Menzies approximately 60km north west of Kalgoorlie.
The Baden Powell prospect has the potential to become Intermin’s third shallow open pit mine as there has been significant historic mineralisation and shallow mining. There will be news out in the March Quarter 2017 for Baden Powell including details on an upcoming Resource drilling program to bring Resources up to JORC (2012) standard.
Outside of the known drill intersected mineralisation at Baden Powell, approximately 5km to the north of the shallow historic pit is an undrilled 3km long gold in auger-soil anomaly at the Olympia prospect.
There is a persistent lenticular anomaly +20ppb Au with spot values up to 133ppb Au. This is an exciting prospect and will be drilling in 2017.
The location of these prospect is excellent as it is only 36 – 40km along established roads to the Paddington toll treatment mill.
As part of ongoing target generation and definition, Intermin conduct extensive auger soil drilling programs and has defined a new high priority gold-in-soil anomaly located 2km northeast and strike parallel to the Baden Powell historic open pit. The Olympia prospect is also located 3.3km south along strike of the 1.4Moz Aphrodite gold deposit suggesting the prospect has potential for a major discovery.
The Company has not located any historic drilling records related to this anomaly and first pass field reconnaissance inspections have not located any historic drill holes collars (only remnants of some historic dry blowing activity has been observed).
The Olympia anomaly spans 3,800m along strike, up to 500m wide and is defined by a 25 ppb contour (4km at 20 ppb contour), with a maximum assay of an encouraging 169 ppb Au (background gold is < 10 ppb Au). The prospect appears to be located near a major mafic/felsic contact which enhances the discovery potential and the regolith is dominated by insitu laterites. A Program of Works (POW) for drill testing is currently being prepared.
New details on the Windanya prospect will be provided soon as they are updated.