Intrepid Metals Drills 6.22% Cu and 8.83g/t Au (10.71% CuEq) at Its Corral Copper Property in Arizona

Rhea-AI Summary

Intrepid Metals has announced promising results from its initial drill program at the Corral Copper Property in Arizona. Key highlights include:

- 91.40m of 0.71% Cu, 0.43 g/t Au, and 5.99 g/t Ag (0.93% CuEq) in Hole CC24_022, including a 1.55m interval of 6.22% Cu, 8.83 g/t Au, and 11.80 g/t Ag (10.71% CuEq).

- 174.85m of 0.32% Cu, 0.27 g/t Au, and 1.82 g/t Ag (0.45% CuEq) in Hole CC24_019.

- 88.25m of 0.46% Cu, 0.31 g/t Au, and 3.16 g/t Ag (0.60% CuEq) in Hole CC24_018.

A total of 25 holes were drilled over 4805.7 meters in the Ringo, Earp, and Holiday zones. The results suggest high-grade copper-gold-silver-zinc mineralization, reinforcing the potential of the property. The company is preparing for a phase two drill program later in the year.

Positive

• 91.40m of 0.71% Cu, 0.43 g/t Au, and 5.99 g/t Ag (0.93% CuEq) in Hole CC24_022.
• 1.55m interval of 6.22% Cu, 8.83 g/t Au, and 11.80 g/t Ag (10.71% CuEq) in Hole CC24_022.
• 25 holes drilled totaling 4805.7 meters.
• High-grade mineralization suggests potential for economic copper-gold-silver-zinc deposits.
• Preparations for phase two drill program underway.

Negative

• 174.85m of 0.32% Cu, 0.27 g/t Au, and 1.82 g/t Ag (0.45% CuEq) in Hole CC24_019.
• 88.25m of 0.46% Cu, 0.31 g/t Au, and 3.16 g/t Ag (0.60% CuEq) in Hole CC24_018.

Vancouver, British Columbia--(Newsfile Corp. - June 19, 2024) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company") is pleased to announce additional results from its initial drill program on the Company's Corral Copper Property ("Corral" or the "Property") in Cochise County, Arizona. A total of 25 holes were completed at the Ringo, Earp and Holiday zones which define a 3-kilometer-long trend of near surface, locally high-grade copper-gold-silver-zinc mineralization (Figure 1).

Highlights from the most recent drill results include:

• 91.40 meters ("m") of 0.71% Copper ("Cu"), 0.43 grams per ton ("gpt") Gold ("Au") and 5.99 gpt Silver ("Ag") (0.93% Copper Equivalent ("CuEq")¹) in Hole CC24_022; including,
  • 20.95m of 1.37% Cu, 1.39 gpt Au and 5.11 gpt Ag (2.11% CuEq¹)
  • 1.55m of 6.22% Cu, 8.83 gpt Au and 11.80 gpt Ag (10.71% CuEq¹) and
  • 1.15m of 6.08% Cu, 2.16 gpt Au and 16.90 gpt Ag (6.77% CuEq¹).

• 174.85m of 0.32% Cu, 0.27 gpt Au and 1.82 gpt Ag (0.45% CuEq¹) in Hole CC24_019 including,
  • 91.35m of 0.41% Cu, 0.36 gpt Au and 2.27 gpt Ag (0.58% CuEq¹)
  • 2.25m of 1.76% Cu, 0.47 gpt Au and 12.46 gpt Ag (1.86% CuEq¹) and
  • 6.00m of 1.39% Cu, 0.66 gpt Au and 2.27. gpt Ag (1.58% CuEq¹).

• 88.25m of 0.46% Cu, 0.31 gpt Au and 3.16 gpt Ag (0.60% CuEq¹) in Hole CC24_018 including,
  • 28.30m of 0.73% Cu, 0.48 gpt Au and 5.03 gpt Ag (0.94% CuEq¹) and
  • 7.55m of 1.14% Cu, 0.81 gpt Au and 6.29 gpt Ag (1.48% CuEq¹).

"These shallow and impressive initial results from our inaugural drill program within the private lands at Corral continue to reinforce our confidence in the Property's potential," stated Ken Brophy, Chief Executive Officer of the Company. "Our technical team are integrating all our current data with our understanding of the Property and beginning to consider what our planned phase two drill program should involve later this year."

2024 Corral Copper Diamond Drill Program

Intrepid has completed 25 diamond drill holes (~4805.7m) within the private lands at Corral Copper including 2959.55m at Ringo, 736.40m at Earp and 1109.75m at Holliday (Figure 1; Tables 1 - 4). Drill results have been returned for 22 of 25 drill holes. Results from the remaining 3 holes from the Ringo Zone are expected in the weeks ahead.

Intrepid is drill testing a 3.5 by 1.5 km copper-gold-silver-zinc mineralized footprint to demonstrate the potential to host economic CRD, skarn, and related porphyry copper mineralization (Figure 1). Please refer to Intrepid News Releases dated May 1, 2024 and May 14, 2024 for additional drill results, and detailed information on drilling procedures, quality assurance and quality control measures. Please refer to footnotes for information regarding assumptions for metal equivalent calculations and true widths.

Photo 1. High-grade massive sulphide replacement style mineralization at the Ringo Zone (CC24-022). The reactive Abrigo Formation contains multiple lenses of high-grade copper-gold (with silver and zinc) massive sulphide.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6187/213504_27ad55fd04efcbfe_001full.jpg

The Significance of High-Grade Massive Sulphide Replacement Mineralization

To date, the best examples of skarn and CRD related replacement style massive sulphide mineralization occur at Ringo and are concentrated in the Abrigo Formation (Table 1; Photo 1A - C). Hole CC24-022 cut 6 separate massive sulphide lenses that range in thickness (measured down hole) from 1.00m to 12.35m and contain up to 4.62% Cu (ranging from 0.08%-4.62% Cu) and 5.01 gpt Au (ranging from 0.17 to 5.01 gpt Au; Table 1; Photo 1A - C). The Holiday, Earp and Ringo zones have potential to host bulk tonnage copper-gold-silver-zinc mineralization but also comparatively lower tonnage, high grade copper-gold-silver-zinc mineralization in stacked lenses of high-grade massive sulphide replacement style mineralization at Ringo (hole CC24-022). Examples of deposits in the region that contain similar mineralization include the past producing Christmas Mine which had underground production of 4.5 Mt at 2.00% Cu (1905-1966)² and the past producing Bisbee Mine with underground production of 53 Mt at 6% Cu (1880-1975)³. Past producing mines within the region are referenced to provide geologic context for Intrepid's property, but this is not necessarily indicative that the Property hosts similar grades or tonnages of mineralization.

Table 1: Massive Sulphide Lenses with Composite Intercepts Cut in CC24-022¹

MASSIVE SULPHIDE INTERCEPTS CC24-022
DRILL HOLE DETAILS				ANALYZED GRADE				ANALYZED METAL EQUIVALENT		DILUTED METAL EQUIVALENT
HOLE	FROM	TO	LENGTH	COPPER	GOLD	SILVER	ZINC	CUEQ	AUEQ	CUEQ	AUEQ
ID	(m)	(m)	(m)	(%)	(ppm)	(ppm)	(%)	(%)	(gpt)	(%)	(gpt)
CC24-022	120.20	121.20	1.00	1.16	1.69	2.30	0.31	2.50	3.43	2.06	2.82
CC24-022	124.05	128.15	4.10	2.99	5.01	11.74	0.52	6.90	9.47	5.67	7.78
CC24-022	131.20	133.45	2.25	4.62	1.30	14.65	0.78	5.93	8.13	4.97	6.82
CC24-022	150.20	151.65	1.45	0.08	0.32	12.80	0.08	0.45	0.62	0.36	0.50
CC24-022	157.30	166.50	9.20	0.54	0.17	3.03	0.02	0.69	0.95	0.58	0.80
CC24-022	190.50	202.85	12.35	2.01	0.29	18.52	0.03	2.38	3.27	2.01	2.75

 

Figure 1: Drill plan map showing drill collar locations at the Earp and Ringo Zones of the Corral Copper Project⁴

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6187/213504_27ad55fd04efcbfe_002full.jpg

Precious and base metal mineralization at Corral Copper is concentrated in structurally controlled northeast dipping siliciclastic and carbonate sedimentary rocks including (oldest to youngest) Cambrian Bolsa Quartzite, upper-Cambrian Abrigo Limestone, Devonian Martín limestone and Mississippian Escabrosa limestone (Figure 1). The most intense mineralization occurs in the Abrigo Limestone (main host) and Bolsa Quartzite, which are intruded locally by a series of Jurassic (and possibly younger) mineralized intrusions including the Star Hill, Copper Bell and Sniveler porphyries, quartz latite sills, and cross-cutting mineralized breccia bodies.

The Corral Copper Property includes the Holliday, Earp and Ringo zones (northwest to southeast), which are related zones of discontinuously outcropping, locally high grade CRD and skarn related mineralization and associated supergene enrichment mineralization that are interpreted to have formed in the distal porphyry copper geological environment.

Table 2: New Drill Intercepts for the Ringo Zone¹

COMPOSITE INTERCEPTS RINGO ZONE
DRILL HOLE DETAILS				ANALYZED GRADE					ANALYZED METAL EQUIVALENT			DILUTED METAL EQUIVALENT
HOLE	FROM	TO	LENGTH	COPPER		GOLD	SILVER	ZINC	CUEQ		AUEQ	CUEQ		AUEQ
ID	(m)	(m)	(m)	(%)		(ppm)	(ppm)	(%)	(%)		(gpt)	(%)		(gpt)
CC24_018	222.00	310.25	88.25	0.46		0.31	3.16	0.02	0.72		0.98	0.60		0.82
Incl.	227.35	272.00	44.65	0.58		0.41	3.59	0.02	0.91		1.25	0.76		1.04
And	227.35	255.65	28.30	0.73		0.48	5.03	0.03	1.13		1.55	0.94		1.29
Or	248.10	255.65	7.55	1.14		0.81	6.29	0.02	1.78		2.45	1.48		2.04
CC24_019	79.15	254.00	174.85	0.32		0.27	1.82	0.03	0.54		0.74	0.45		0.62
Incl.	157.30	248.65	91.35	0.41		0.36	2.27	0.02	0.70		0.96	0.58		0.79
And	190.50	192.75	2.25	1.76		0.47	12.46	0.01	2.21		3.03	1.86		2.55
And	236.00	242.00	6.00	1.39		0.66	2.27	0.00	1.89		2.59	1.58		2.17
CC24-022	116.60	208.00	91.40	0.71		0.43	5.99	0.15	1.12		1.54	0.93		1.28
Incl.	116.60	137.55	20.95	1.37		1.39	5.11	0.43	2.55		3.50	2.11		2.90
And	124.05	128.15	4.10	2.99		5.01	11.74	0.52	6.90		9.47	5.67		7.78
And	126.60	128.15	1.55	6.22		8.83	11.80	0.78	12.99		17.82	10.71		14.68
And	131.20	133.45	2.25	4.62		1.30	14.65	0.78	5.93		8.13	4.97		6.82
And	132.30	133.45	1.15	6.08		2.16	16.90	0.93	8.08		11.08	6.77		9.28
Incl.	190.50	208.00	17.50	1.63		0.24	14.82	0.03	1.94		2.66	1.64		2.24
And	190.50	197.50	7.00	2.93		0.40	23.84	0.04	3.43		4.70	2.89		3.96

 

As part of the initial 2024 drill program, Intrepid has executed 2959.55m of diamond drilling at Ringo, where near-surface copper-gold-sliver-zinc skarn and replacement style mineralization is spatially associated with magnetite and hematite. The Ringo Zone is located at the southern end of a 3km long string of copper-gold-silver-zinc bearing carbonate replacement bodies (Figure 1). The Ringo Zone measures approximately 900m (northwest to southeast) by 800m (southwest to northeast) and contains favorable Abrigo Limestone (and Bolsa Formation), pre-mineral intrusions, alteration and copper-gold-silver-zinc replacement style mineralization and secondary enriched copper oxide zones that are locally high-grade.

Table 3: New Drill Intercepts in the Earp Zone¹

COMPOSITE INTERCEPTS RINGO ZONE
DRILL HOLE DETAILS				ANALYZED GRADE				ANALYZED METAL EQUIVALENT		DILUTED METAL EQUIVALENT
HOLE	FROM	TO	LENGTH	COPPER	GOLD	SILVER	ZINC	CUEQ	AUEQ	CUEQ	AUEQ
ID	(m)	(m)	(m)	(%)	(ppm)	(ppm)	{ "@context": "https://schema.org", "@type": "FAQPage", "name": "Intrepid Metals Drills 6.22% Cu and 8.83g/t Au (10.71% CuEq) at Its Corral Copper Property in Arizona FAQs", "mainEntity": [ { "@type": "Question", "name": "What were the key drill results announced by Intrepid Metals on June 19, 2024?", "acceptedAnswer": { "@type": "Answer", "text": "Intrepid Metals reported 91.40m of 0.71% Cu, 0.43 g/t Au, and 5.99 g/t Ag (0.93% CuEq) in Hole CC24_022, including a 1.55m interval of 6.22% Cu, 8.83 g/t Au, and 11.80 g/t Ag (10.71% CuEq)." } }, { "@type": "Question", "name": "What is the significance of the Corral Copper Property drill results for IMTCF?", "acceptedAnswer": { "@type": "Answer", "text": "The drill results indicate high-grade copper-gold-silver-zinc mineralization, suggesting strong economic potential for the Corral Copper Property." } }, { "@type": "Question", "name": "How many holes were drilled in Intrepid Metals' initial program at Corral Copper Property?", "acceptedAnswer": { "@type": "Answer", "text": "A total of 25 holes, amounting to 4805.7 meters, were drilled in the initial program." } }, { "@type": "Question", "name": "What are the next steps for Intrepid Metals after the initial drill program at Corral Copper Property?", "acceptedAnswer": { "@type": "Answer", "text": "Intrepid Metals is preparing for a phase two drill program later this year." } } ] } FAQ What were the key drill results announced by Intrepid Metals on June 19, 2024? Intrepid Metals reported 91.40m of 0.71% Cu, 0.43 g/t Au, and 5.99 g/t Ag (0.93% CuEq) in Hole CC24_022, including a 1.55m interval of 6.22% Cu, 8.83 g/t Au, and 11.80 g/t Ag (10.71% CuEq). What is the significance of the Corral Copper Property drill results for IMTCF? The drill results indicate high-grade copper-gold-silver-zinc mineralization, suggesting strong economic potential for the Corral Copper Property. How many holes were drilled in Intrepid Metals' initial program at Corral Copper Property? A total of 25 holes, amounting to 4805.7 meters, were drilled in the initial program. What are the next steps for Intrepid Metals after the initial drill program at Corral Copper Property? Intrepid Metals is preparing for a phase two drill program later this year. INTREPID METALS CORP OTC:IMTCF IMTCF Rankings N/A Ranked by Market Cap N/A Ranked by Dividends IMTCF Latest News Aug 23, 2024 Intrepid Metals Amends Mesa Well Option Agreement Jul 9, 2024 Intrepid Metals Drills 20.20% Cu, 8.51 gpt Au and 250.00 gpt Ag (23.85% CuEq) at its Corral Copper Property in Arizona Jun 11, 2024 CEO.CA's Inside the Boardroom: Latest Junior Mining News May 28, 2024 Intrepid Metals Completes Initial Drill Program at Its Corral Copper Property in Arizona May 14, 2024 Intrepid Metals Intersects Shallow Mineralization of 72.20 Meters of 1.28% Copper Within 198.00 Meters of 0.68% CuEq During Its Initial Drill Program at Its Corral Copper Property in Arizona IMTCF Stock Data Market Cap 14.35M Float 31.92M Insiders Ownership 19.93% Institutions Ownership 5.58% Industry Other Industrial Metals & Mining Sector Basic Materials Website Link Country United States of America City Vancouver Explore About Rhea-AI Sitemap Legal Terms of Use Cookie Notice Privacy Policy Links RSS feed Patreon Discord Server Facebook Reddit Google News © 2020-2024 StockTitan.net