Intrepid Mines Finds New Copper-Gold System But Indonesia Law May Limit Access
Intrepid Mines Ltd (IAU.TO) is now losing a little ground but remains up more than 3% this morning after assay results for its Candrian Prospect in Indonesia confirmed the discovery of a new gold-copper porphyry system.
Drilling found high ratios of gold to copper ratios in several areas and Intrepid executives said they were confident increases our confidence they will find multiple new discoveries throughout the Tujuh Bukit project area.
One possible factor limiting today's advance may be Indonesian forestry law restricting non-forestry work within protected forest area, including a prohibition on open-pit mining. Three prospective mining zones fall within protected forest areas although company officials said they were working with relevant Indonesian authorities for a potential review and reclassification of those areas.
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