ASX ANNOUNCEMENT 6 February 2012 December 2011 www.intgold.com.au BOARD Tony Sage Chairman Bernard Aylward Non-Executive Director Paul Kelly Non-Executive Director MANAGEMENT Pip Leverington Company Secretary Travis Schwertfeger Chief Executive Officer REGISTERED OFFICE AND PRINCIPLE PLACE OF BUSINESS 18 Oxford Close Leederville WA 6007 POSTAL ADDRESS PO Box 306 West Perth WA 6872 COMMUNICATION DETAILS Telephone: +61 8 9211 0635 Facsimile: +61 8 9322 2631 Web Address: www.intgold.com.au Email Address: [email protected]AUSTRALIAN BUSINESS NUMBER 69 099 544 680 SHARE REGISTRY Advanced Share Registry Services Pty Ltd 110 Stirling Hwy Nedlands WA 6009 MEDIA CONTACT David Tasker PPR T: 08 9388 0944/ 0433 112 936 E: [email protected]ASX CODE IGS WEST AFRICA EXPLORATION UPDATE Highlights Results received on Tanala Project auger sampling drill program, totalling 577 auger holes. o Newly defined 7km anomalous gold trend in auger results Initial results received for Nangalasso Project surface geochemistry o Favourable gold anomalism highlighted in first 30% of results Auger drilling completed on Diendo Project, samples submitted for analysis for 655 auger holes Auger drilling commenced on Balena Project Ivory Coast surface geochemistry survey complete on the central Kahola Prospect area (results pending), and stream sediment sampling work commencing on the southeast Kahola Project area. International Goldfields Limited (ASX: IGS) (“IGS” or “the Company”) is a mineral exploration company focused on gold exploration and organic growth of gold resources in world class mining districts of Brazil, Mali, Cote d’Ivoire (Ivory Coast) and Western Australia. In West Africa, the Company has 12 highly prospective project areas covering 11,000 km 2 of Birimian greenstone terrain. In southern Mali, the Company holds seven projects covering 1,100km 2 and is currently earning into five project areas covering 9,900km 2 of prospective Birimian greenstone terrain in Ivory Coast. IGS provides the following update on continuing early stage exploration programmes in both countries, and additional results on several of the Mali projects where results are advancing several prospects within those project areas to a “drill-ready” stage. The Company has received encouraging assay results for its Tanala Project auger drilling and Nangalasso Project surface geochemistry in Mali. In Ivory Coast, the Company completed surface geochemistry sampling at the central Kahola Project licence, submitted all samples for laboratory analysis (all results pending), and commenced surface geochemistry surveys on the southeast Kahola Project licence. Also, IGS is preparing to undertake a field mapping program to survey artisanal workings located on the Tengrela South Project licences. These licences are located just south of Perseus Mining Limited’s (“Perseus”) Podio Prospect which lies along the same structural zone that hosts the Tengrela Resource (1.2Moz Au). For personal use only
� Results received on Tanala Project auger sampling drill program, totalling 577 auger holes.
o Newly defined 7km anomalous gold trend in auger results
� Initial results received for Nangalasso Project surface geochemistry
o Favourable gold anomalism highlighted in first 30% of results
� Auger drilling completed on Diendo Project, samples submitted for analysis for 655 auger holes
� Auger drilling commenced on Balena Project
� Ivory Coast surface geochemistry survey complete on the central Kahola Prospect area (results pending), and stream sediment sampling work commencing on the southeast Kahola Project area.
International Goldfields Limited (ASX: IGS) (“IGS” or “the Company”) is a mineral exploration company focused on gold exploration and organic growth of gold resources in world class mining districts of Brazil, Mali, Cote d’Ivoire (Ivory Coast) and Western Australia. In West Africa, the Company has 12 highly prospective project areas covering 11,000 km2 of Birimian greenstone terrain. In southern Mali, the Company holds seven projects covering 1,100km2 and is currently earning into five project areas covering 9,900km2 of prospective Birimian greenstone terrain in Ivory Coast.
IGS provides the following update on continuing early stage exploration programmes in both countries, and additional results on several of the Mali projects where results are advancing several prospects within those project areas to a “drill-ready” stage. The Company has received encouraging assay results for its Tanala Project auger drilling and Nangalasso Project surface geochemistry in Mali.
In Ivory Coast, the Company completed surface geochemistry sampling at the central Kahola Project licence, submitted all samples for laboratory analysis (all results pending), and commenced surface geochemistry surveys on the southeast Kahola Project licence. Also, IGS is preparing to undertake a field mapping program to survey artisanal workings located on the Tengrela South Project licences. These licences are located just south of Perseus Mining Limited’s (“Perseus”) Podio Prospect which lies along the same structural zone that hosts the Tengrela Resource (1.2Moz Au).
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MALI
The Company has multiple field crews actively working three projects in Mali South and completing work programs on all projects in quick succession with a combination of auger and surface geochemical sampling techniques to prioritize projects for drilling. Gold analyses from those ongoing exploration programs are now being received and reviewed, with encouraging results on both the Tanala and Nangalasso Project areas.
Figure 1: International Goldfields – Mali South Project locations and regional summary geology
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TANALA PROJECT
The Tanala Project (102km2) covers the northern extension of the same structural belt that hosts mineralisation at Tiekoumala and gold occurrences across the Company’s Diendo Project.
IGS has completed a 577 hole auger program at the Tanala Project, and encountered a seven km, northwest trending zone of gold anomalism, in addition to several other anomalous gold results that will require follow-up work. The new anomalous gold zone matches regional structural trends, and is hosted by Birimian-aged greenstone sediments.
The new anomalous zone is located approximately six km to the north of a sub-parallel gold anomaly defined by Anglo-Ashanti, who completed limited testing with RAB drilling.
The southern of the two anomalies remains open and un-tested in several areas while the northern anomaly defined by the Company’s recent auger drilling is an additional un-drilled target identified along the structural trend stretching from Tanala to Diendo.
Additional auger sampling and mapping of the anomalous corridor is planned to define discrete drill targets for the newly discovered gold anomaly.
DIENDO PROJECT
Comprised of five licences totalling over 280km2 of under-explored Birimian terrain, the Diendo Project covers the southern extension of a structural trend that is host to the 600k oz Au Tiekoumala resource, and the Foulalaba mineralised zone, located within five km of the project boundary.
Figure 2: Mali - Diendo-Tanala regional geology with outlines of gold anomalism
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A complex package of Birimian greenstones comprised of sediments and volcanics host an Eburnean-aged northwest trending structural zone providing several favourable settings for Syama or Tengrela style structurally controlled mineralisation.
Field crew’s commenced auger drilling at Diendo in late December focusing on the existing surface gold anomalies generated by the July soil sampling program to refine those targets for air core and RC drilling planned for later in the year. The Company is actively looking for a drill to test those targets.
Also, surface geochemical sampling on the 2 newly acquired licences, which expanded the Diendo Project area last quarter, began in January to extend existing gold anomalies in the project area. Initial soil sampling shipped for analysis in the ongoing programme and all results pending.
The auger rig mobilised to the Balena (171km2) project area located 210 km south of Bamako where it is executing 10 lines of auger sampling on 100m x 800m spacing in a reconnaissance program.
NANGALASSO PROJECT
Surface geochemical sampling at Nangalasso (95km2) was completed in late December and 1,391 samples were collected and submitted to ALS Laboratories in Bamako. Initial results of that program have been received, with encouraging results including eight samples exceeding 50ppb gold and a peak result of 160ppb gold returned in the first 452 sample results received. The strongest anomaly lies in area of artisanal mining. Remaining assay results are pending.
Field reconnaissance programs for the project area have observed an outcropping granodiorite body in the southern portion of the licence area, and evidence of hydrothermal alteration and minor quartz veining is mapped proximal to this intrusion contact. The final results of the surface geochemistry survey will be interpreted in the context of both geological and regolith mapping datasets already completed for the project to define targets for follow-up exploration work.
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IVORY COAST
IGS is party to an earn-in agreement (“Agreement”) between IGS and Cape Lambert Resources Ltd pursuant to which IGS may earn up to an 80% interest in eleven licenses, covering five project areas totalling 9,900km2 of mineral rights which are highly prospective for gold in Ivory Coast, West Africa. Each project is hosted by Birimian greenstone belts and associated with major Birimian-aged structures, which are key criteria to many of the major gold deposits in the West African region.
The Company has commenced exploration programmes under the Agreement on three exploration license that have been granted approval by the inter-ministerial mining commission (COMINE) and require signature by the Ivorian president. The remaining applications are in good standing and currently being processed by the department of mines, oil and energy.
Figure 3: International Goldfields – West Africa Project locations and summary geology
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KAHOLA PROJECT
The Kahola Project (2,995km2) is located just over 60km to the northeast of the Angovia deposit (0.5Moz Au) and is situated on the western margin of the structural corridor that is host to the 1.3Moz Au Bonikro deposit (refer to Figure 4).
Stream sampling programmes are in progress at two of the licence areas and the terrain is well suited for this style of surface geochemistry. The surface geochemistry is anticipated to refine targeting of detailed surface geochemistry soil and auger programmes in follow-up work.
TENGRELA SOUTH PROJECT
The Tengrela South project (1,677km2) comprises one COMINE approved exploration licence adjacent to the Perseus tenements, and a second exploration application. The two licences cover Birimian greenstone belt, and lies on the southern extension of the greenstone belt and associated shear zone that hosts the 7.9Moz Syama deposit and the 1.2Moz Tengrela discovery (refer to Figure 5).
IGS will commence mapping of artisanal workings in the north of the project, along with surface sampling and geology mapping along the Tengrela structural trend south of Perseus’ Podio Prospect to prioritise areas for drill testing.
About International Goldfields
International Goldfields is an active exploration company with excellent projects strategically located in some of the most exciting gold mineralised districts in the world – the Birimian of West Africa, the Alta Floresta mineralised belt of Brazil and the Tropicana belt of Western Australia. We have the funding and the projects to ensure an active exploration program all year round and will be maintaining a strong news flow for investors.
International Goldfields Travis Schwertfeger T: +61 8 9221 7729
The information in this report that relates to exploration results is based on information compiled by Mr Travis Schwertfeger. Mr Schwertfeger is the Chief Executive Officer of International Goldfields Limited. Mr Schwertfeger is a member of The Australian Institute of Geoscientists and 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’. Mr Schwertfeger consents to the inclusion in the report of the matters based on information in the form and context in which it appears.
