Interpid says E. Java project contain 8.8 billion lb of copper

Australian-listed firm Intrepid Mines Limited announced Wednesday the estimation of the expanded Inferred Resource at 990 million tonnes at 0.40% copper and 0.45 g/t gold, at a cut-off grade of 0.2% copper or 0.2 g/t gold, within the Tumpangpitu area of the Tujuh Bukit copper-gold project

The company said that the area contains 8.8 billion lb of copper and 14 million ounces of gold at 0.2 copper or 0.2 g/t gold cut-off

The report, prepared by Independent Consultants Heliman and Schofield Pty. Ltd. in accordance with the JORC Code, the company said.

The resource estimate covers an ovoid area, based on the resource block model, of approximately 2,400 x 1,400 metres. The vertical extent of mineralisation defined to date is in excess of one kilometer. The resource remains open both laterally and at depth.

The above noted resource estimate is in addition to the earlier oxide gold-silver zone Inferred Resource, it said.

In Dec 2010, Independent consultants Hellman and Schofield Pty Ltd have provided an updated resource for the gold-silver oxide deposit resource of 130 million tonnes (MT) at 0.55 grams-per-tonne (g/t) gold (Au) and 18 g/t silver (Ag). The entire resource is classified in the Inferred category. This updated estimate, reported in accordance with the JORC Code and National Instrument 43-101, represents a total of 2.4 million ounces of contained gold and 80 million ounces of contained silver.

The company has 80% interest in the project. (romel)