IRC - LATEST DRILL RESULTS FROM TEAL GOLD PROJECT DELIVER...

IRC - LATEST DRILL RESULTS FROM TEAL GOLD PROJECT DELIVER SPECTACULAR RESULTS HIGHLIGHTS:
 4m composite sampling from reverse circulation Resource definition drilling1 at the Teal gold project return highly encouraging results
 Best preliminary downhole intercepts from within and below the Teal Stage 1 pit design include:
 32m @ 24.05g/t Au from 32m (including 4m @ 194.78g/t Au from 44m) – TRC1608
 36m @ 2.02g/t Au from 36m (including 24m @ 2.80g/t Au from 40m) – TRC1605
 52m @ 2.36g/t Au from 64m (including 12m @ 4.26g/t Au from 64m) – TRC1609
 4m @ 7.50g/t Au from 40m – TRC1603
 24m @ 2.85g/t Au from 52m (including 4m @ 9.14g/t Au from 72m) – TRC1603

An updated mine optimisation study and economic model is expected in the June Quarter using updated pricing and cost parameters

“These excellent drill results are pleasing to see as it confirms mineralisation geometry and grade across the entire strike length of the deposit to underpin the Stage 1 mine development.

The drilling also indicates the potential at depth immediately below the oxide and transitional zone which will be assessed for mining and processing once the upcoming metallurgical testwork is completed in the June Quarter,” Managing Director Jon Price said.

------------------------------------

Cheers tela