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

Rhea-AI Summary

Intrepid Metals announced the results of its initial drilling program at the Corral Copper Property in Arizona. Significant findings include 198 meters of 0.68% Copper Equivalent (CuEq) with an impressive 72.20 meters of 1.28% Cu from Hole CC24_016. The project also showed high-grade gold mineralization with 21.3 gpt Au over 1.1 meters in Hole CC24_15 and 15.84 gpt Au over 4.71 meters in Hole CC24_14. The Ringo Zone, a key target, exhibited continuous and locally high-grade mineralization, particularly within the Abrigo Limestone and Bolsa Formation. The program included 20 diamond drill holes totaling 3,900 meters aimed at exploring a 3.5 by 1.5 km area for economic copper, gold, silver, and zinc deposits.

Positive

• Drill results show significant copper mineralization: 198 meters at 0.68% CuEq, including 72.20 meters at 1.28% Cu.
• High-grade gold intercepts: 21.3 gpt Au over 1.1 meters and 15.84 gpt Au over 4.71 meters.
• 20 diamond drill holes completed out of a planned 5,000 meters, showcasing commitment to thorough exploration.
• The Ringo Zone exhibits highly continuous mineralization, enhancing the project's economic potential.
• Significant silver findings: up to 39.26 gpt Ag in various drill holes.
• The program benefits from rigorous quality assurance and quality control protocols, instilling confidence in the data's reliability.

Negative

• Hole CC24_16 was prematurely shut down due to technical issues with drill rods.
• The project faces risks of mineralization interruptions or inconsistencies, as evidenced by historical variances.
• High operational costs associated with extensive drilling and analysis programs.
• Potential environmental and regulatory challenges in Cochise County, Arizona.

Additional highlights include:

• 198.00 meters ("m") of 0.68% Copper Equivalent ("CuEq")¹ (0.56% Copper ("Cu"), 0.12 grams per ton ("gpt") Gold ("Au") and 4.35 gpt Silver ("Ag")) from 10.00 to 208.00m in Hole CC24_016 including,
  • 72.20m of 1.26% CuEq¹ (1.28% Cu, 0.08 gpt Au and 3.16 gpt Ag)
  • 1.60m of 5.72% CuEq¹ (5.30% Cu, 1.95 gpt Au and 11.20 gpt Ag).
    
    
• 133.20m of 0.64% CuEq¹ (0.42 Cu, 0.46 gpt Au, 2.22 gpt Ag) from 45.85 to 179.05m in Hole CC24_14 including
  • 79.00m of 0.68% CuEq¹ (0.33% Cu, 0.65 gpt Au, 2.70 gpt Ag) and
  • 2.35m of 13.52% CuEq¹ (4.71% Cu, 15.84 gpt Au, 39.26 gpt Ag).
    
    
• 99.45m of 0.68% CuEq¹ (0.54% Cu, 0.27 gpt Au and 3.11 gpt Ag) from 60.00 to 159.45m in Hole CC24_013 including,
  • 44.40m of 1.28% CuEq¹ (1.08% Cu, 0.53 gpt Au and 3.57 gpt Ag) and
  • 3.30m of 5.56% CuEq¹ (5.08% Cu, 1.86 gpt Au and 19.75 gpt Ag).

Vancouver, British Columbia--(Newsfile Corp. - May 14, 2024) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company") provides results for 5 additional diamond drill holes from the Company's Corral Copper Property ("Corral Copper" or the "Property") located in Cochise County, Arizona. All 5 holes were drilled in the Ringo Zone which is located along the southern margin of a 3-kilometer-long trend of near surface carbonate replacement ("CRD") and related supergene enrichment oxide copper-gold-silver-zinc mineralization. Highlights from these 5 holes are shown in Table 1.

"The Corral Copper Project has once again returned remarkable shallow copper grades and mineralized intercepts at the Ringo Zone," stated Ken Brophy, Chief Execuitve Officer. "The drilling at Ringo is illustrating the Project's gold endowment with broad intercepts of highly continuous, locally high-grade gold mineralization, including 21.3 gpt Au over 1.1m in hole CC24_15 and 15.84 gpt Au over 4.71m in hole CC24_14, which we expect will make a significant contribution to the economic potential of the project."

The Ringo Zone is located at the southern end of a 3-kilometer-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. To date, Intrepid has completed 9 holes in the Ringo Zone for a total of 2105m. Highlights from holes CC24-013 through CC24-017 are included in Table 1 below and full results are within Table 2. Hole CC24_16 was prematurely shut down due to drill rods breaking down hole and ended in robust mineralization.

Table 1. Highlight composite drill intercepts for the Ringo Zone¹

DRILL HOLE DETAILS				ANALYZED GRADE				ANALYZED METAL EQUIVALENT1		DILUTED METAL EQUIVALENT1
HOLE	FROM	TO	LENGTH	COPPER	GOLD	SILVER	ZINC	CUEQ	AUEQ	CUEQ	AUEQ
ID	(m)	(m)	(m)	(%)	(ppm)	(ppm)	(%)	(%)	(g/t)	(%)	(g/t)
CC24_013	60.00	159.45	99.45	0.54	0.27	3.11	0.16	0.81	1.12	0.68	0.93
Incl.	85.75	130.15	44.40	1.08	0.53	3.57	0.13	1.54	2.11	1.28	1.76
Incl.	114.15	117.45	3.30	5.08	1.86	19.75	0.11	6.63	9.10	5.56	7.63
CC24_013	193.60	215.50	21.90	0.23	0.47	5.53	0.07	0.64	0.88	0.52	0.72
Incl.	193.60	195.00	1.40	0.11	2.25	8.20	0.00	1.82	2.49	1.46	2.00
CC24_014	45.85	179.05	133.20	0.42	0.46	2.22	0.02	0.78	1.07	0.64	0.88
Incl.	70.00	149.00	79.00	0.33	0.65	2.70	0.03	0.83	1.14	0.68	0.93
And	116.00	149.00	33.00	0.56	1.43	5.38	0.02	1.65	2.26	1.35	1.85
And	126.55	128.90	2.35	4.71	15.84	39.26	0.05	16.61	22.77	13.52	18.54
Incl.	163.25	179.05	15.80	1.27	0.46	3.79	0.02	1.64	2.25	1.38	1.89
And	172.50	178.10	5.60	2.22	0.99	8.23	0.05	3.02	4.15	2.53	3.47
CC24_015	35.90	137.65	101.60	0.31	0.41	4.96	0.25	0.73	1.00	0.60	0.82
Incl.	110.00	137.65	27.65	0.59	1.31	7.53	0.71	1.82	2.50	1.48	2.04
And	116.05	120.00	3.95	2.72	7.47	4.65	0.01	8.21	11.26	6.71	9.20
And	116.05	117.15	1.10	3.44	21.30	9.10	0.01	19.05	26.13	15.41	21.14
CC24_015	201.00	206.35	5.35	0.98	3.78	10.51	0.01	3.83	5.25	3.11	4.27
CC24_016	10.00	208.00	198.00	0.56	0.12	4.35	0.42	0.81	1.11	0.68	0.93
Incl.	60.10	132.30	72.20	1.28	0.08	3.16	0.42	1.49	2.05	1.26	1.73
Incl.	228.90	230.50	1.60	5.30	1.95	11.20	0.00	6.81	9.35	5.72	7.84
CC24_017	46.60	81.30	34.70	0.24	0.04	2.26	0.00	0.30	0.41	0.25	0.34
CC24_017	101.40	101.90	0.50	1.65	0.13	6.50	0.08	1.82	2.49	1.54	2.11

 

The Corral Copper 2024 Drill Campaign

Intrepid has completed 20 diamond drill holes (~3,900m) as part of a planned 5,000m program within its private lands at Corral Copper. Intrepid is drill testing a 3.5 by 1.5 km copper-gold-silver-zinc mineralized footprint to demonstrate its potential to host economic CRD, skarn, and related porphyry copper mineralization.

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). Please refer to footnotes for details regarding assumptions for metal equivalent calculations and true widths.

Figure 1. Geological map showing diamond drill hole locations for the 2024 Drill Program²

Figure 1 includes historical data marked as such by the legend. Please refer to footnotes for additional details.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6187/209022_1c5510c9e470b905_001full.jpg

Table 2. Composite drill intercepts for Corral Copper Project Holes CC24-013 to CC24-017¹

DRILL HOLE DETAILS				ANALYZED GRADE				ANALYZED METAL EQUIVALENT1		DILUTED METAL EQUIVALENT1
HOLE	FROM	TO	LENGTH	COPPER	GOLD	SILVER	ZINC	CUEQ	AUEQ	CUEQ	AUEQ
ID	(m)	(m)	(m)	(%)	(ppm)	(ppm)	(%)	(%)	(g/t)	(%)	(g/t)
CC24_013	60.00	159.45	99.45	0.54	0.27	3.11	0.16	0.81	1.12	0.68	0.93
Incl.	85.75	130.15	44.40	1.08	0.53	3.57	0.13	1.54	2.11	1.28	1.76
And	85.75	106.40	20.65	1.19	0.62	2.37	0.06	1.69	2.31	1.41	1.93
Incl.	113.05	120.70	7.65	2.51	0.87	11.98	0.46	3.38	4.64	2.83	3.88
And	114.15	117.45	3.30	5.08	1.86	19.75	0.11	6.63	9.10	5.56	7.63
Incl.	124.00	130.15	6.15	0.52	0.48	1.46	0.10	0.91	1.25	0.75	1.03
CC24_013	193.60	215.50	21.90	0.23	0.47	5.53	0.07	0.64	0.88	0.52	0.72
Incl.	193.60	195.00	1.40	0.11	2.25	8.20	0.00	1.82	2.49	1.46	2.00
Incl.	210.50	213.35	2.85	0.20	0.90	2.24	0.08	0.90	1.24	0.73	1.01
CC24_014	45.85	179.05	133.20	0.42	0.46	2.22	{ "@context": "https://schema.org", "@type": "FAQPage", "name": "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 FAQs", "mainEntity": [ { "@type": "Question", "name": "What are the significant copper findings from Intrepid Metals' drilling?", "acceptedAnswer": { "@type": "Answer", "text": "Intrepid Metals announced 198 meters of 0.68% CuEq, including a notable 72.20 meters at 1.28% Cu in the Corral Copper Property." } }, { "@type": "Question", "name": "What were the high-grade gold intercepts in the Intrepid Metals' drilling?", "acceptedAnswer": { "@type": "Answer", "text": "High-grade gold intercepts included 21.3 gpt Au over 1.1 meters in Hole CC24_15 and 15.84 gpt Au over 4.71 meters in Hole CC24_14." } }, { "@type": "Question", "name": "How many meters were drilled in Intrepid Metals' initial program?", "acceptedAnswer": { "@type": "Answer", "text": "Intrepid Metals completed 20 diamond drill holes totaling approximately 3,900 meters." } }, { "@type": "Question", "name": "What is the scope of the Corral Copper drilling program by Intrepid Metals?", "acceptedAnswer": { "@type": "Answer", "text": "The program aims to explore a 3.5 by 1.5 km area for economic copper, gold, silver, and zinc deposits with a planned 5,000 meters of drilling." } }, { "@type": "Question", "name": "What are the major silver findings in the Intrepid Metals' drilling?", "acceptedAnswer": { "@type": "Answer", "text": "Significant silver findings include up to 39.26 gpt Ag in various drill holes at the Corral Copper Property." } }, { "@type": "Question", "name": "Where is Intrepid Metals' Corral Copper Property located?", "acceptedAnswer": { "@type": "Answer", "text": "The Corral Copper Property is located in Cochise County, Arizona." } }, { "@type": "Question", "name": "What technical issues did Intrepid Metals face during drilling?", "acceptedAnswer": { "@type": "Answer", "text": "Hole CC24_16 was prematurely shut down due to drill rods breaking downhole." } }, { "@type": "Question", "name": "What quality measures were taken in Intrepid Metals' drill program?", "acceptedAnswer": { "@type": "Answer", "text": "Intrepid Metals implemented a rigorous quality assurance and quality control protocol, including sample blanks, duplicates, and standards." } } ] } FAQ What are the significant copper findings from Intrepid Metals' drilling? Intrepid Metals announced 198 meters of 0.68% CuEq, including a notable 72.20 meters at 1.28% Cu in the Corral Copper Property. What were the high-grade gold intercepts in the Intrepid Metals' drilling? High-grade gold intercepts included 21.3 gpt Au over 1.1 meters in Hole CC24_15 and 15.84 gpt Au over 4.71 meters in Hole CC24_14. How many meters were drilled in Intrepid Metals' initial program? Intrepid Metals completed 20 diamond drill holes totaling approximately 3,900 meters. What is the scope of the Corral Copper drilling program by Intrepid Metals? The program aims to explore a 3.5 by 1.5 km area for economic copper, gold, silver, and zinc deposits with a planned 5,000 meters of drilling. What are the major silver findings in the Intrepid Metals' drilling? Significant silver findings include up to 39.26 gpt Ag in various drill holes at the Corral Copper Property. Where is Intrepid Metals' Corral Copper Property located? The Corral Copper Property is located in Cochise County, Arizona. What technical issues did Intrepid Metals face during drilling? Hole CC24_16 was prematurely shut down due to drill rods breaking downhole. What quality measures were taken in Intrepid Metals' drill program? Intrepid Metals implemented a rigorous quality assurance and quality control protocol, including sample blanks, duplicates, and standards. INTREPID METALS CORP OTC:IMTCF IMTCF Rankings N/A Ranked by Market Cap N/A Ranked by Dividends IMTCF Latest News Oct 31, 2024 Intrepid Metals Provides Details on New Drill Targets at Corral Copper Project Oct 10, 2024 Intrepid Metals Appoints Mr. Matthew Lennox-King to Board of Directors Oct 2, 2024 Intrepid Metals Identifies Several New Drill Targets Following Completion of Exploration Program at Corral Copper Project Sep 9, 2024 Intrepid Metals Appoints Ken Engquist as CEO Aug 23, 2024 Intrepid Metals Amends Mesa Well Option Agreement IMTCF Stock Data Market Cap 17.14M Float 30.68M Insiders Ownership 23.85% Institutions Ownership 5.31% 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