Java IoT Authors: Yeshim Deniz, Pat Romanski, Elizabeth White, Liz McMillan, Roger Strukhoff

News Feed Item

Intrepid Mines Limited: Tujuh Bukit Technical Report

Tujuh Bukit, Indonesia

BRISBANE, AUSTRALIA -- (Marketwire) -- 11/26/12 -- Intrepid Mines Limited (TSX:IAU)(ASX:IAU) ("the Company") announces that a report entitled "Tujuh Bukit Project Report on Mineral Resources Located in East Java, Indonesia, Technical Report" effective 22 November 2012, has been filed on SEDAR (www.sedar.com) as well as with the ASX, following the announcement of an increase to the porphyry copper-gold resource at Tumpangpitu (see news release dated 9 October 2012). The report, prepared by independent consultants H&S Consulting Pty Ltd in accordance with NI 43-101 and the JORC Code, now consolidates both the Oxide and Porphyry Resources and activities within the Tumpangpitu area of the Tujuh Bukit Project.

Qualified Person

The Mineral Resource Estimates were prepared by Rob Spiers (MAIG) who is a Director and full time employee of H&S Consultants Pty Ltd. All resource work was reviewed by Dr Phillip Hellman FAIG, who is a consultant to H&S Consultants Pty Ltd. Both Mr. Spiers and Dr. Hellman have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as Competent Persons as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and as Independent Qualified Persons as defined in the Canadian National Instrument 43-101 (standards of Disclosure for Mineral Projects). Mr. Spiers and Dr. Hellman consent to the inclusion of these estimates in the form and context in which they appear.

The information in this announcement that relates to exploration results is based on information compiled by or under the supervision of Mr. Gary Snow, who is a full-time employee of Intrepid Mines Limited. Mr. Snow has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and a Qualified Person as defined in the Canadian National Instrument 43-101 (standards of Disclosure for Mineral Projects). Mr. Snow consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Sample Analysis

Intrepid exercises a strict chain of sample custody in its drilling program at Tujuh Bukit. Joint Venture personnel remove core from the drill rig and deliver it to a project geologist who logs the core and marks the core into two metre sample intervals. Intrepid and Joint Venture personnel supervise the immediate splitting, sawing and bagging of samples, and packaging of groups of samples for dispatch to the laboratory. The remainder of the split core is securely stored on site.

Samples are securely packaged, batched, and then transported under supervision to the Intertek laboratory facility in Jakarta. At the laboratory, the samples are prepared by crushing and pulverizing and a 30 gram charge is assayed for gold by conventional fire assay and/or atomic absorption methods. Multi-element ICP analysis is carried out using a multi-acid digestion process. All samples that contain silver and/or copper, lead, and zinc values that exceed the upper detection limits for ICP are re-analysed by conventional atomic absorption methods to determine the absolute values of these metals.

Nature of data

A total of 125,295 metres in 392 drill holes were available to contribute to the resource estimate and comprise entirely diamond core (DD) drilling. Of these, nominally 55 holes for 53,736 metres are deep holes that contribute significantly to the porphyry and high sulphidation resources. Other holes, drilled generally to test the oxide resources, have contributed to the high sulphidation part of the resource, where they have intersected sulphide mineralisation below the base of oxidation.

Drill holes were almost all sampled in two-metre intervals for PQ, HQ or NQ sized core. For estimation purposes the assay data was composited into two-metre intervals. The block model consists of blocks of 40 metre x 40 metre x 10 metre (XYZ).

Block Classification

Ordinary Kriging was used for the estimation with the search and data acceptance parameters used for the domains being; pass 1 (Measured) a search ellipse of 70 metres x 90 metres x 55 metres using a minimum of 12 and a maximum of 32 two-metre composites and 4 octants; pass 2 (Indicated) with a search ellipse of 140 metres x 180 metres x 110 metres and using a minimum of 12 and a maximum of 32 two-metre composites and 4 octants; and a pass 3 (Inferred) with a search ellipse of 140 metres x 180 metres x 110 metres and using a minimum of 6 and a maximum of 32 two-metre composites and 2 octants. Searches were aligned consistent with the orientations defined during the geometry modelling for each individual mineralised domain.

Forward-looking statements

This announcement contains certain forward-looking statements, relating to, but not limited to Intrepid's expectations, intentions, plans and beliefs. Forward-looking information can often be identified by forward-looking words such as 'anticipate', 'believe', 'expect', 'goal', 'plan', 'intend', 'estimate', 'may' and 'will' or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future outcomes, or statements about future events or performance. Forward-looking information may include reserve and resource estimates, estimates of future production, unit costs, costs of capital projects, and timing of commencement of operations and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to establish estimated resources and reserves, the grade and recovery of ore which is mined varying from estimates, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and other factors. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied.

Shareholders and potential investors are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Intrepid undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

Forestry Activities

The Indonesian Forestry Law restricts non forestry activities within protected forests and prohibits mining using an open pit method in protected forest areas. The area of the Porphyry copper-gold resource estimate and the oxide resource estimate areas fall within a protected forest area. There is no assurance that the forestry reclassification will take place in this instance, to allow for development of the project.

PT IMN received an extension of the Forestry Exploration Permit I July 2012, which allows for exploration activities within the forestry areas at Tujuh Bukit.


Intrepid does not have direct rights to the Tujuh Bukit Project tenements and the Tujuh Bukit IUPs (the form of mining licence under which activities are conducted) are held by its Indonesian joint venture partner, PT IMN. Intrepid, through a number of contractual arrangements with PT IMN, has acquired an entitlement to an 80% interest in the Tujuh Bukit Project. Since Intrepid has no direct interest in the Tujuh Bukit Project as yet, it is reliant on the observance by PT IMN, and its shareholders, of these contractual arrangements, including an agreement to issue to Intrepid or its subsidiaries 80% of the share capital in PT IMN. PT IMN is currently in breach of the agreements in place with Intrepid and has excluded Intrepid's personnel from the Tujuh Bukit site and operations and ceased communications with Intrepid's management. Intrepid's wholly-owned subsidiary, Emperor Mines Pty Limited, has issued a notice of dispute to IMN and its shareholders in relation to these events. An inability to enforce its rights under the existing agreements will impact on Intrepid's ability to participate in the development of the Tujuh Bukit project.

Ian McMaster (Chairman)                                                     
Colin G. Jackson (Deputy Chairman)                                          
Brad A. Gordon (Managing Director)                                          
Laurence W. Curtis (Non-executive Director)                                 
Robert J. McDonald (Non-executive Director)                                 
Alan Roberts (Non-executive Director)                                       
Adrianto Machribie (Non-executive Director)                                 
Nyla Bacon (Company Secretary)                                              
Stock Exchange Listing                                                      
ASX and TSX symbol: IAU                                                     
Substantial Shareholders                                                    
Taurus Funds Management 8.5%                                                
Acorn Capital 8.2%                                                          
Van Eck Associates 7.8%                                                     
Surya Paloh 5.0%                                                            
Issued Capital                                                              
6,941,961 unlisted options                                                  
4,645,106 unlisted share rights                                             
51,208,032 unlisted restricted performance rights                           

Shareholder Enquiries                                                       
Matters related to shares held, change of address and tax file numbers      
should be directed to:                                                      
Computershare Investor Services                                             
GPO Box 2975, Melbourne, Victoria 3001, Australia                           
Telephone: 1 800 805 505                                                    
           +61 3 9415 4000                                                  
ABN: 11 060 156 452                                                         

Intrepid Mines Limited
Brad Gordon
Chief Executive Officer
Brisbane, Australia
+61 7 3007 8011 or Cell: +61 400 036 636
[email protected]

Intrepid Mines Limited
Greg Taylor
Toronto, Canada
+905 337 7673 or Cell: +416 605 5120
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
As IoT continues to increase momentum, so does the associated risk. Secure Device Lifecycle Management (DLM) is ranked as one of the most important technology areas of IoT. Driving this trend is the realization that secure support for IoT devices provides companies the ability to deliver high-quality, reliable, secure offerings faster, create new revenue streams, and reduce support costs, all while building a competitive advantage in their markets. In this session, we will use customer use cases...
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of bus...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
DXWorldEXPO LLC announced today that "Miami Blockchain Event by FinTechEXPO" has announced that its Call for Papers is now open. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Financial enterprises in New York City, London, Singapore, and other world financial capitals are embracing a new generation of smart, automated FinTech that eliminates many cumbersome, slow, and expe...
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
DXWorldEXPO LLC announced today that ICOHOLDER named "Media Sponsor" of Miami Blockchain Event by FinTechEXPO. ICOHOLDER give you detailed information and help the community to invest in the trusty projects. Miami Blockchain Event by FinTechEXPO has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Miami Blockchain Event by FinTechEXPO also offers s...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
Cloud Expo | DXWorld Expo have announced the conference tracks for Cloud Expo 2018. Cloud Expo will be held June 5-7, 2018, at the Javits Center in New York City, and November 6-8, 2018, at the Santa Clara Convention Center, Santa Clara, CA. Digital Transformation (DX) is a major focus with the introduction of DX Expo within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive ov...