GOLD MINING INVESTMENT IN AUSTRALIA
Gold Mining Investment Opportunity
Intergroup Mining Limited is an Australian mining company in the stage of preparation for the production of gold ore and further advanced exploration on its approved Mining Lease (ML 100008) in North Queensland, Australia.
From a timing perspective, the Company has the potential for accelerated growth.
The Company’s Flagship Project is characterised by surface mineralisation – leading to low cost production and a short lead time to cash flow.
The Mining Lease area is currently being prepared - in order to extract the high grade ore from five (5) open pit mining targets identified across the permitted area, known as Brilliant Brumby.
Key summary points:
- All permits are in place to commence production.
- The deposit has been characterised by the geologists to resemble the nearby prolific Charters Towers deposit, depicting narrow high grade gold veins.
- All drilling to date is compliant with the JORC code.
- 1331 surface geochemical samples have been taken and 2992 drilling samples - all have been assayed.
- Drill chip samples have been assayed with values up to 74.1g/t gold. Rock chip samples include 176 g/t gold, 95.7 g/t gold & 82.2 g/t gold at Brilliant Brumby, as well as several samples above 20 g/t gold. Sediment samples included assay results up to 171,000ppb Au.
- Multiple samples contain visible gold.
- The metallurgy report states that the gold is 90% plus recoverable from gravity separation. Gravity is the simplest & cheapest form of treatment. It’s very uncomplicated machinery.
- Low capital expenditure is proposed, using crushing contractors to crush the ore and contractors to concentrate it, to produce a viable product.
- Gold ore concentrate is to be taken to a nearby contract partner mine, where gold dore will be produced.
- The Mining Lease (179 hectares) is part of a larger exploration lease (14,800 hectares), which is highly comparable (geologically) to several of the neighbouring 3m oz gold producers.
- The lease areas have a multi million ounce deposit ‘likelihood', rather than potential.
- As a result of the gold deposit literally being at surface, it allows gold to be produced on a low budget.
- Management are highly experienced in mining operations.
- The majority of funding will go into production, with very limited resource drilling.
- Mining activity commenced in April 2018