Gold explorer Intermin Resources has acquired the Kanowna North project and a new exploration prospect at the Yarmony project in the Goldfields region of Western Australia.
According to Intermin, the Kanowna North project, about 17km northwest of the Kanowna Belle mine, includes one granted mining licence and two granted prospecting licences covering about 275 hectares.
Intermin believes the project has excellent potential as there is “demonstrated gold at surface and the shape of some nuggets suggest they may not have travelled too far from the source.”
The project has been acquired from a prospecting consortium for 500,000 Intermin shares at 10 cents a share.
Intermin managing director Jon Price said the Kanowna North project looked exciting due to the amount of gold recovered by prospectors and limited targeted exploration to identify the source.
“The new projects add to our 100 per cent owned asset base and provide us with multiple new advanced drilling targets to test and grow our resource profile,” Price said.
Intermin acquired the Yarmony prospect, about 49km northwest of Coolgardie, for 75,000 shares at 10 cents a share.
The company added that data compilation had commenced at the Yarmony site, while field checking of historic drill hole collars and workings would occur in the March quarter.