09:53 AM EST - Intrepid Mines Limited : announced the results of an independently prepared Preliminary Economic Assessment ("PEA") for a potential heap leach, open pit gold mine on the oxide resource of the Tumpangpitu area of the Company's (80% interest) Tujuh Bukit Project in Indonesia . The heap leach PEA is based on the Company's December 2010 resource estimate of the near surface oxide resource at Tujuh Bukit -- which is separate from the far larger, underlying porphyry resources - and produced a positive conceptual economic analysis for the project. Significantly, the PEA, based on conservative assumptions, demonstrated a life of project annual average production of 143,000 recovered ounces of gold for nine years at a cash cost of $376 U.S. per ounce, net of silver credits at $16.50 U.S. per ounce. Intrepid Mines Limited
shares T.IAU are trading up $0.12 at $2.09.
