Green reports that mining and processing are coming together with the production of a high-grade concentrate and free gold:
â– Highly prospective project in the legendary Charters Towers Gold Province. InterGroup Mining’s (IGM) Brilliant Brumby Project spans >100km² of highly prospective ground in this gold province in NE Queensland, Australia, where more than 20 million ounces of high-grade gold has been mined. IGM has already discovered grades as high as 176 grams/ton gold, by exploring around historic high-grade gold mines. So far, the best finds have been along a prominent 2 kilometer Brilliant Brumby line in ML 100008 where small-scale mining and processing is ongoing.
â– Growing possibility that the gold-bearing quartz lodes along a 13 kilometer corridor may connect at depth. Virtually all the gold discovered so far has been found in Devonian mesothermal narrow vein quartz lodes. Analysis of the fast-expanding geological data base has revealed that these quartz lodes are known over a 13 kilometer long WNW trending corridor. These lodes occur within structurally controlled clusters which are typically 1-2 kilometer long and 0.5-1 kilometer wide. It does look as though investors are now just starting to gain a glimpse of the true potential.
â– Substantial stockpiles of ore now being processed. Initial gold mining activity at ML 100008 began in 2018 and good progress has been made since with the processing. This strategy allows for early stage revenue generation as well as gaining a growing understanding of future milling requirements. Processing of the gold ore has been found to be fairly straightforward using gravity separation. Growing stockpiles of mined product for treatment are now being processed to generate a high-grade gold concentrate and free gold.
â– Brandy Creek is fast shaping up to be an important new area. Brandy Creek was drilled for the first time in 2018 to investigate the extent of the mapped historic workings and mineralised quartz veins. Impressive grades as high as 47g/t gold have been discovered, which is close to the grades that were historically mined there in the past. Also, big similarities have been noted with the Brilliant Brumby line, and so the management is fast tracking a mining licence for this area which is planned to be developed in much the same way as ML 100008.
â– Potential Tier 1 gold asset. The combination of a potentially large scale near surface deposit, high grade gold and relatively straight forward mineral processing could well suggest a Tier 1 status over the coming years. Work is planned towards a JORC-compliant resource which would allow an increasing valuation to be placed on IGM by mining analysts. Over recent decades major mining companies have become increasing dependent on juniors like IGM for their projects of the future. Moving ahead it is likely that the Company will increasingly appear on the radar of the majors.
Green emphasized that over recent decades major mining companies have become increasing dependent on juniors like IGM for their projects of the future. Moving ahead it is likely that the Company will increasingly appear on the radar of the majors.
Read full release by Green.
For historical information on IGM projects, see (here).
Search Results for Brilliant Brumby, see (here), and (here).
For InterGroup Mining Homepage, see (here).
Full disclosure: In 2011, I2M Associates, LLC prepared the first comprehensive assessment of the Brilliant Brumby area, indicating high potential and encouraging further work.
See the Competent Persons Report (here).
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