69.86pc fe

ydney - Thursday - October 18: (RWE Australian Business News) -
InterMet Resources (ASX:ITT) advises that reconnaissance mapping and
sampling aimed at testing the extent of the outcropping iron
mineralisation in and around the Paddy Lease have defined three main
magnetite lenses mapped for up to 500m along strike with each lens up
to 50m in width.
The Paddy ML comprises a magnetite skarn and InterMet's initial
sampling has recorded Fe values up to 69.86pc Fe.
\ The Paddy Lease (ML3948) is part of the Munderra Project (EPM
15481).
Mr Gary Ferris, the Managing Director of InterMet, said today
"Mapping and sampling within the Paddy area shows the magnetite outcrops
across a relatively large zone and may represent a significant body of
magnetite especially if it were to continue under cover along strike.
"The Paddy prospect has never been assessed as a potential iron
ore prospect and with excellent nearby infrastructure, strong demand and
high prices for iron ore, InterMet is looking to fast track the full
assessment of the prospect."
ENDS