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Associated Press
27-05-2025
- Business
- Associated Press
Intrepid Metals Intercepts 27.50% Copper, 10.15 gpt Gold, and 192 gpt Silver Over 0.55m in First Drill Hole of 2025 at Corral Copper
Vancouver, British Columbia--(Newsfile Corp. - May 27, 2025) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ('Intrepid' or the 'Company') is pleased to announce results from the first diamond drill hole of its 2025 exploration program at the Company's Corral Copper Property ('Corral' or the 'Property') in Cochise County, Arizona. To date, four drill holes have been completed at the Ringo Zone and assay results have been received from one of the four drill holes. Highlights from Hole CC25_026: - 142.30 meters ('m') of 0.51% Copper ('Cu'), 0.17 grams per ton ('gpt') Gold ('Au') and 4.01 gpt Silver ('Ag') (0.69% Copper Equivalent ('CuEq') 1 ) including, 'We're very pleased with the strong start to our 2025 drill program, building on the exceptional results we achieved at Corral last year,' said Ken Engquist, CEO of Intrepid. 'The initial hole at the Ringo Zone continues to highlight the scale and continuity of copper mineralization across the property, and we look forward to sharing more results in the coming weeks. With drilling soon moving to the Holliday and Earp Zones, we're excited to advance what we believe is one of the most compelling emerging copper projects in the Southwest, continuing to deliver value to our shareholders.' Table 1: Drill Intercepts for the Ringo Zone 1 [This table cannot be displayed. Please visit the source.] [ This image cannot be displayed. Please visit the source: ] Photos 1 & 2: High-grade replacement style massive sulphide mineralization intercepted in CC24-026 consisting of massive pyrite and chalcopyrite hosted in the favourable Abrigo Formation. To view an enhanced version of this graphic, please visit: 2025 Corral Copper Diamond Drill Program Intrepid has completed 4 holes (assays pending) totaling 1005 meters in the Ringo Zone. The objective of the 2024 drilling is to increase confidence in the intensity of mineralization, location and lithological and structural controls in historical drilling for the Ringo, Holliday and Earp Zones. Economic Geology of Corral Precious and base metal mineralization at Corral 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 and in Jurassic aged intrusions. 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, skarn and distal porphyry related mineralization and associated supergene enrichment that formed in the distal porphyry copper geological environment. A significant component of Intrepid's discovery strategy at Corral is to leverage distal alteration and mineralization to vector toward one or more mineralized porphyry copper centers (see News Release dated April 15, 2025 ). The Ringo Zone is located at the southern end of a 3.5km 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. [ This image cannot be displayed. Please visit the source: ] Figure 1: Drill plan map from the Ringo Zone at the Corral Copper Project 2 To view an enhanced version of this graphic, please visit: Technical Information All scientific and technical information in this news release has been prepared by, or approved by Daniel MacNeil, Mr. MacNeil is a Technical Advisor to the Company and is a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. MacNeil has verified the drilling data disclosed in this news release, including the assay and test data underlying the information or opinions contained in this news release. Mr. MacNeil verified the data disclosed (or underlying the information disclosed) in this news release by reviewing imported and sorted assay data; checking the performance of blank samples and certified reference materials; reviewing the variance in field duplicate results; and reviewing grade calculation formulas. Mr. MacNeil detected no significant QA/QC issues during review of the data and is not aware of any sampling, recovery or other factors that could materially affect the accuracy or reliability of the drilling data referred to in this news release. Table 2: Drill Hole Location Information for Hole CC24-026 Quality Assurance and Quality Control Drill core was first reviewed by a geologist, who identified and marked intervals for sampling. The marked sample intervals were then cut in half with a diamond saw; half of the core was left in the core box and the other half was removed, placed in plastic bags, sealed and labeled. Intervals and unique sample numbers are recorded on the drill logs and the samples are sequenced with standards and blanks inserted according to a predefined QA/QC procedure. The samples are maintained under security on site until they are shipped to the analytical lab. All core samples were sent to ALS Geochemistry (ALS), a division of ALS Global, in Tucson, Arizona, for sample preparation, with pulps sent to the ALS Geochemistry laboratory in Reno, Nevada for analysis. ALS meets all requirements of International Standards ISO/IEC 17025:2017 and ISO 9001:2015 for analytical procedures and is independent of the Company. HQ size core was split and sampled over approximately two metre intervals. Samples were analyzed using: ALS's Fire Assay Fusion method (Au-AA23) with an AA finish for gold and by gravimetric finish (Au-GRA21) for samples assaying greater than 10 ppm (gpt) gold; by a 36-element four acid digest ICP-AES analysis (ME-ICP61) with additional analysis for Ore Grade Cu (Cu-OG62), Ore Grade Zn (Zn-OG62) and Ore Grade Pb (Pb-OG62); and for silver assays above 100 ppm (g/t) by Fire Assay Fusion method with gravimetric finish (Ag-GRA21). ME-ICP61 results were reported in parts per million (ppm), Ore Grade (OG62) results were reported in percent (%). In addition to ALS quality assurance- quality control (QA/QC) protocols, Intrepid implements an internal QA/QC program that includes the insertion of sample blanks, duplicates, and standards, with QA/QC control samples comprising approximately 10% of the sample stream About Corral Copper The Corral Copper Property, located near historical mining areas, is an advanced exploration and development opportunity in Cochise County, Arizona. Corral is located 15 miles east of the famous mining town of Tombstone and 22 miles north of the historic Bisbee mining camp which has produced more than 8 billion pounds of copper 4. Production from the Bisbee mining camp, or within the district as disclosed in the next paragraph, is not necessarily indicative of the mineral potential at Corral. The district has a mining history dating back to the late 1800s, with several small mines extracting copper from the area in the early 1900s, producing several thousand tons. Between 1950 and 2008, various companies explored parts of the district, but the effort was uncoordinated, non-synergistic and focused on discrete land positions and commodities due to the fragmented ownership. There is over 50,000m of historical drilling at Corral mainly centered on the Ringo, Earp and Holliday Zones and although this core has been destroyed, Intrepid has a historical digital drill hole archive database which the Company uses for the purposes of exploration targeting and drill hole planning. Intrepid, through ongoing exploration drilling and surface geological mapping, sampling and prospecting is increasing confidence in the validity of these data. The Corral Copper Property is comprised of the Excelsior Property, the CCCI Properties, the Sara Claim Group and the MAN Property. The Company has completed the acquisition of the Excelsior Property and Sara Claim Group through purchase and sale agreements. The Company has the right to acquire the corporate group that holds the CCCI Properties through an option agreement. The Company has the right to acquire the MAN Property through an option agreement. See the 'Commitments' section of the Company's most recently filed Management Discussion and Analysis for further details. Intrepid is confident that by combining modern exploration techniques with historical data and with a clear focus on responsible development, the Corral Copper Property can quickly become an advanced exploration stage project and move towards development studies. About Intrepid Metals Corp. Intrepid Metals Corp. is a Canadian company focused on exploring for high-grade essential metals such as copper, silver, and zinc mineral projects in proximity to established mining jurisdictions in southeastern Arizona, USA. The Company has acquired or has agreements to acquire several drill ready projects, including the Corral Copper Project (a district scale advanced exploration and development opportunity with significant shallow historical drill results), the Tombstone South Project (within the historical Tombstone mining district with geological similarities to the Taylor Deposit, which was purchased for $1.3B in 2018 4, though mineralization at the Taylor Deposit is not necessarily indicative of the mineral potential at the Tombstone South Project) both of which are located in Cochise County, Arizona and the Mesa Well Project (located in the Laramide Copper Porphyry Belt in Arizona). Intrepid has assembled an exceptional team with considerable experience with exploration, developing, and permitting new projects within North America. Intrepid is traded on the TSX Venture Exchange (TSXV) under the symbol 'INTR' and on the OTCQB Venture Market under the symbol 'IMTCF'. For more information, visit INTREPID METALS CORP. On behalf of the Company 'Ken Engquist' CEO For further information regarding this news release, please contact: Ken Engquist, CEO 604-681-8030 [email protected] Notes 1 Composite intervals are calculated using length weighted averages based on a combination of lithological breaks and copper, gold, silver and zinc assay values. All intervals reported are core lengths, and true thicknesses are yet to be determined. Mineral resource modeling is required before true thicknesses can be estimated. Analyzed Grade corresponds composite weighted ('composites') averages of laboratory analyses. Metal Equivalent corresponds to undiluted metal equivalent of reported composites and Diluted Metal Equivalent takes into account estimated recovery of 85% for copper, and 80% for gold, silver and zinc for reported composites. Metal prices used for the CuEq and AuEQ calculations are in USD based on Ag $22.00/oz, Au $1900/oz, Cu $3.80/lb, Zn $1.15/lb The following equation was used to calculate copper equivalence: CuEq = Copper (%) (85% rec.) + (Gold (g/t) x 0.729150601917791)(80% rec.) + (Silver (g/t) x 0.00844279644325863)(80% rec.) + (Zinc (%) x 0.302631578947368)(80% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (gpt)(80% rec.) + (Copper (%) x 1.3714285702785)(85% rec.) + (Silver (gpt) x 0.0115789473684211)(80% rec.) + (Zinc (%) x 0.415037593636916)(80% rec.). Analyzed metal equivalent calculations are reported for illustrative purposes only. The metal chosen for reporting on an equivalent basis is the one that contributes the most dollar value after accounting for assumed recoveries. 2 Data disclosed in this news release includes historical drilling results and information derived from historic drill results, Intrepid Metals has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the historical exploration work in order to verify the results. Intrepid considers these historical data relevant as the Company is using this data as a guide to plan exploration programs. The Company's current and future exploration work includes verification of the historical data through drilling. 3 Information disclosed in this news release regarding the historic Bisbee Camp can be found on the Copper Queen Mine website and on the City of Bisbee website ( ). 4 Details regarding the sale of the Taylor Deposit can be found in South32 News Release dated October 8, 2018 ( South32 completes acquisition of Arizona Mining ). Cautionary Note Regarding Forward-Looking Information Certain statements contained in this release constitute forward-looking information within the meaning of applicable Canadian securities laws. Such forward-looking statements relate to: the potential of the property; the interpretation of drills results; the scale and continuity of copper mineralization across the property; timing for release of additional drill results; details of future drilling and exploration plans; that Corral Copper is one of the most compelling emerging copper projects in the Southwest; the details of a 3.5 km long string of copper-gold-silver-zinc bearing carbonate replacement bodies ; details about potential mineralization; the exploration potential of the Corral Copper Property and the Company's other mineral projects; and potential future production. In certain cases, forward-looking information can be identified by the use of words such as 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might', 'occur' or 'be achieved' suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the Company can raise additional financing to continue operations; the results of exploration activities, commodity prices, the timing and amount of future exploration and development expenditures, the availability of labour and materials, receipt of and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to the ability to access infrastructure, risks relating to the failure to access financing, risks relating to changes in commodity prices, risk related to unanticipated geological or structural formations and characteristics risks related to current global financial conditions, risks related to current global financial conditions and the impact of any future global pandemic on the Company's business, reliance on key personnel, operational risks inherent in the conduct of exploration and development activities, including the risk of accidents, labour disputes and cave-ins, regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, environmental risks and the additional risks identified in the 'Risk Factors' section of the Company's reports and filings with applicable Canadian securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking view the source version of this press release, please visit
Malay Mail
29-04-2025
- Business
- Malay Mail
Intrepid Metals Commences Drill Program at Corral Copper
63.40m of 2.57% Cu, 0.91 gpt Au and 14.14 gpt Ag (2.83% CuEq 1 ) 1.40m of 20.20% Cu, 8.51 gpt Au and 250.00 gpt Ag (23.85% CuEq1). 48.85m of 2.24% Cu and 0.97 gpt Au (2.58% CuEq 1 ) and 3.90m of 6.80% Cu and 1.02 gpt Au (6.54% CuEq1). [email protected] Vancouver, British Columbia - Newsfile Corp. - April 29, 2025 -("Intrepid" or the "Company") is pleased to announce that drilling has commenced at the Corral Copper Property ("Corral" or the "Property"), located in Cochise County, part of the prolific Turquoise District of southeastern Arizona. The 2025 drill program is Intrepid's second drill program on the Property and includes diamond drilling at the Ringo, Earp and Holliday Zones. Drilling will be conducted by Godbe Drilling LLC ("Godbe")."We are excited to announce the commencement of drilling at our Corral Copper Property, with the objective of further delineating and expanding the impressive 3.5 by 1.5 kilometer copper-gold-silver-zinc mineralized footprint identified during our 2024 program," stated Ken Engquist, CEO of Intrepid. "This Phase 2 drill campaign builds on the strong results of our earlier work and is a significant step forward in advancing this highly promising discovery."The initial 5,000m diamond drill program has started at the Ringo Zone ("Ringo"), which delivered high-grade intercepts in 2024, including:from 68.40 to 181.35m in Hole CC24_023 including,from 27.00 to 220.15m in Hole CC24_011 including,Please refer to the Intrepid News Release dated July 9, 2024 and entitled "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" for more details on these results, including details on data verification and exploration information.A total of six drill holes are initially planned at Ringo, after which the drill rig will be mobilized to the Holliday and Earp Zones. Results from the initial 2025 drilling at Ringo, combined with data from the 2024 program, will be used to refine the geological model and optimize subsequent 2025 drilling at Corral Copper Project contains mineralization consistent with Carbonate Replacement Copper-gold-silver deposits ("CRD"), skarn copper-gold and porphyry copper-gold deposits. The Ringo, Holliday and Earp zones at Corral contain broad zones of disseminated and vein style mineralization that are locally high-grade (see above). Intrepid is focused on verifying existing mineralization to establish geological controls on mineralization in known zones, expanding known zones along strike, down dip and down-plunge and testing the Property's porphyry copper potential. Corral is geologically analogous to the prolific Bisbee Camp (located ~100km southeast) where high-grade copper-gold CRD (e.g., Copper Queen; 53Mt @ 6% Copper) are spatially associated with Jurassic porphyry copper-gold porphyry deposits (Lavender Pit; 223 Mt @ 0.63% Copper past production). Although there is porphyry style alteration and mineralization at Corral, a systematic porphyry exploration campaign for the district has not been previously scientific and technical information in this news release has been prepared by, or approved by Daniel MacNeil, Mr. MacNeil is a Technical Advisor to the Company and is a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral MacNeil has verified the drilling data disclosed in this news release, including the assay and test data underlying the information or opinions contained in this news release. Mr. MacNeil verified the data disclosed (or underlying the information disclosed) in this news release by reviewing imported and sorted assay data; checking the performance of blank samples and certified reference materials; reviewing the variance in field duplicate results; and reviewing grade calculation formulas. Mr. MacNeil detected no significant QA/QC issues during review of the data and is not aware of any sampling, recovery or other factors that could materially affect the accuracy or reliability of the drilling data referred to in this news Company also announces that it has entered into an agreement to amend the option agreement dated April 20, 2021 with New Empire Exploration LLC (the "Vendor") to acquire a 100% interest in the Tombstone South Property ("Tombstone") located in Arizona. The amendment provides for an extension to complete the required US$1,500,000 work commitment that is due May 2025 to May 2026, and the US$1,500,000 work commitment that is due May 2026 to May 2027, in exchange for the issuance of an additional 300,000 common shares of Intrepid, and payment of an additional US$25,000, in each case to the additional information on the Tombstone Property, please refer to the National Instrument 43-101 Technical Report dated effective May 10, 2021 entitled "Technical Report on the Tombstone South Property, Cochise County, Arizona, USA" filed on SEDAR+ at The Corral Copper Property, located near historical mining areas, is an advanced exploration and development opportunity in Cochise County, Arizona. Corral is located 15 miles east of the famous mining town of Tombstone and 22 miles north of the historic Bisbee mining camp which has produced more than 8 billion pounds of copper. Production from the Bisbee mining camp, or within the district as disclosed in the next paragraph, is not necessarily indicative of the mineral potential at district has a mining history dating back to the late 1800s, with several small mines extracting copper from the area in the early 1900s, producing several thousand tons. Between 1950 and 2008, various companies explored parts of the district, but the effort was uncoordinated, non-synergistic and focused on discrete land positions and commodities due to the fragmented ownership. There is over 50,000m of historical drilling at Corral mainly centered on the Ringo, Earp and Holliday Zones and although this core has been destroyed, Intrepid has a historical digital drill hole archive database which the Company uses for the purposes of exploration targeting and drill hole planning. Intrepid, through ongoing exploration drilling and surface geological mapping, sampling and prospecting is increasing confidence in the validity of these Corral Copper Property is comprised of the Excelsior Property, the CCCI Properties, the Sara Claim Group and the MAN Property. The Company has completed the acquisition of the Excelsior Property and Sara Claim Group through purchase and sale agreements. The Company has the right to acquire the corporate group that holds the CCCI Properties through an option agreement. The Company has the right to acquire the MAN Property through an option agreement. See the "Commitments" section of the Company's most recently filed Management Discussion and Analysis for further is confident that by combining modern exploration techniques with historical data and with a clear focus on responsible development, the Corral Copper Property can quickly become an advanced exploration stage project and move towards development Metals Corp. is a Canadian company focused on exploring for high-grade essential metals such as copper, silver, and zinc mineral projects in proximity to established mining jurisdictions in southeastern Arizona, USA. The Company has acquired or has agreements to acquire several drill ready projects, including the Corral Copper Project (a district scale advanced exploration and development opportunity with significant shallow historical drill results), the Tombstone South Project (within the historical Tombstone mining district with geological similarities to the Taylor Deposit, which was purchased for $1.3B in 2018, though mineralization at the Taylor Deposit is not necessarily indicative of the mineral potential at the Tombstone South Project) both of which are located in Cochise County, Arizona and the Mesa Well Project (located in the Laramide Copper Porphyry Belt in Arizona). Intrepid has assembled an exceptional team with considerable experience with exploration, developing, and permitting new projects within North America. Intrepid is traded on the TSX Venture Exchange (TSXV) under the symbol "INTR" and on the OTCQB Venture Market under the symbol "IMTCF". For more information, visit On behalf of the Company"Ken Engquist"CEOKen Engquist, CEO604-681-8030Composite intervals are calculated using length weighted averages based on a combination of lithological breaks and copper, gold, silver and zinc assay values. All intervals reported are core lengths, and true thicknesses are yet to be determined. Mineral resource modeling is required before true thicknesses can be confidently estimated. Analyzed Grade corresponds composite weighted ("composites") averages of laboratory analyses. Metal Equivalent corresponds to undiluted metal equivalent of reported composites. Metal prices used for the CuEq and AuEQ calculations are in USD based on Ag $22.00/oz, Au $1900/oz, Cu $3.80/lb, Zn $1.15/lb The following equation was used to calculate copper equivalence: CuEq = Copper (%) (85% rec.) + (Gold (g/t) x 0.71)(80% rec.) + (Silver (g/t) x 0.0077)(80% rec.) + (Zinc (%) x 0.28)(80% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (g/t)(80% rec.) + (Copper (%) x 1.4085)(85% rec.) + (Silver (g/t) x 0.0108)(80% rec.) + (Zinc (%) x 0.4188)(80% rec.). Analyzed metal equivalent calculations are reported for illustrative purposes only. The metal chosen for reporting on an equivalent basis is the one that contributes the most dollar value after accounting for assumed D.F., 2015, History of the Warren (Bisbee) Mining District, Arizona Geological Survey Contributed Report CR15b,8 K., 2022, Geology and Mineralization of the Undeveloped Cochise Supergene Porphyry Copper Deposit, Warren (Bisbee) Mining District, Cochise County, Arizona, The University of Arizona, MSc thesis, 104 disclosed in this news release regarding the historic Bisbee Camp can be found on the Copper Queen Mine website and on the City of Bisbee website ( ).Details regarding the sale of the Taylor Deposit can be found in South32 News Release dated October 8, 2018 ( South32 completes acquisition of Arizona Mining ). The issuer is solely responsible for the content of this announcement.
Associated Press
29-04-2025
- Business
- Associated Press
Intrepid Metals Commences Drill Program at Corral Copper
Vancouver, British Columbia--(Newsfile Corp. - April 29, 2025) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ('Intrepid' or the 'Company') is pleased to announce that drilling has commenced at the Corral Copper Property ('Corral' or the 'Property'), located in Cochise County, part of the prolific Turquoise District of southeastern Arizona. The 2025 drill program is Intrepid's second drill program on the Property and includes diamond drilling at the Ringo, Earp and Holliday Zones. Drilling will be conducted by Godbe Drilling LLC ('Godbe'). 'We are excited to announce the commencement of drilling at our Corral Copper Property, with the objective of further delineating and expanding the impressive 3.5 by 1.5 kilometer copper-gold-silver-zinc mineralized footprint identified during our 2024 program,' stated Ken Engquist, CEO of Intrepid. 'This Phase 2 drill campaign builds on the strong results of our earlier work and is a significant step forward in advancing this highly promising discovery.' The initial 5,000m diamond drill program has started at the Ringo Zone ('Ringo'), which delivered high-grade intercepts in 2024, including: - 112.95 meters ('m') of 1.50% Copper ('Cu'), 0.53 grams per ton ('gpt') Gold ('Au') and 8.22 gpt Silver ('Ag') (1.66% Copper Equivalent ('CuEq') 1 ) from 68.40 to 181.35m in Hole CC24_023 including, - 193.15m of 0.68% Cu and 0.33 gpt Au (0.83% CuEq 1 from 27.00 to 220.15m in Hole CC24_011 including, Please refer to the Intrepid News Release dated July 9, 2024 and entitled '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' for more details on these results, including details on data verification and exploration information. A total of six drill holes are initially planned at Ringo, after which the drill rig will be mobilized to the Holliday and Earp Zones. Results from the initial 2025 drilling at Ringo, combined with data from the 2024 program, will be used to refine the geological model and optimize subsequent 2025 drilling at Ringo. Upside Exploration Potential The Corral Copper Project contains mineralization consistent with Carbonate Replacement Copper-gold-silver deposits ('CRD'), skarn copper-gold and porphyry copper-gold deposits. The Ringo, Holliday and Earp zones at Corral contain broad zones of disseminated and vein style mineralization that are locally high-grade (see above). Intrepid is focused on verifying existing mineralization to establish geological controls on mineralization in known zones, expanding known zones along strike, down dip and down-plunge and testing the Property's porphyry copper potential. Corral is geologically analogous to the prolific Bisbee Camp (located ~100km southeast) where high-grade copper-gold CRD (e.g., Copper Queen; 53Mt @ 6% Copper 2 ) are spatially associated with Jurassic porphyry copper-gold porphyry deposits (Lavender Pit; 223 Mt @ 0.63% Copper past production 3 ). Although there is porphyry style alteration and mineralization at Corral, a systematic porphyry exploration campaign for the district has not been previously completed. All scientific and technical information in this news release has been prepared by, or approved by Daniel MacNeil, Mr. MacNeil is a Technical Advisor to the Company and is a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. MacNeil has verified the drilling data disclosed in this news release, including the assay and test data underlying the information or opinions contained in this news release. Mr. MacNeil verified the data disclosed (or underlying the information disclosed) in this news release by reviewing imported and sorted assay data; checking the performance of blank samples and certified reference materials; reviewing the variance in field duplicate results; and reviewing grade calculation formulas. Mr. MacNeil detected no significant QA/QC issues during review of the data and is not aware of any sampling, recovery or other factors that could materially affect the accuracy or reliability of the drilling data referred to in this news release. Tombstone Update The Company also announces that it has entered into an agreement to amend the option agreement dated April 20, 2021 with New Empire Exploration LLC (the 'Vendor') to acquire a 100% interest in the Tombstone South Property ('Tombstone') located in Arizona. The amendment provides for an extension to complete the required US$1,500,000 work commitment that is due May 2025 to May 2026, and the US$1,500,000 work commitment that is due May 2026 to May 2027, in exchange for the issuance of an additional 300,000 common shares of Intrepid, and payment of an additional US$25,000, in each case to the Vendor. For additional information on the Tombstone Property, please refer to the National Instrument 43-101 Technical Report dated effective May 10, 2021 entitled 'Technical Report on the Tombstone South Property, Cochise County, Arizona, USA' filed on SEDAR+ at About Corral Copper The Corral Copper Property, located near historical mining areas, is an advanced exploration and development opportunity in Cochise County, Arizona. Corral is located 15 miles east of the famous mining town of Tombstone and 22 miles north of the historic Bisbee mining camp which has produced more than 8 billion pounds of copper 4. Production from the Bisbee mining camp, or within the district as disclosed in the next paragraph, is not necessarily indicative of the mineral potential at Corral. The district has a mining history dating back to the late 1800s, with several small mines extracting copper from the area in the early 1900s, producing several thousand tons. Between 1950 and 2008, various companies explored parts of the district, but the effort was uncoordinated, non-synergistic and focused on discrete land positions and commodities due to the fragmented ownership. There is over 50,000m of historical drilling at Corral mainly centered on the Ringo, Earp and Holliday Zones and although this core has been destroyed, Intrepid has a historical digital drill hole archive database which the Company uses for the purposes of exploration targeting and drill hole planning. Intrepid, through ongoing exploration drilling and surface geological mapping, sampling and prospecting is increasing confidence in the validity of these data. The Corral Copper Property is comprised of the Excelsior Property, the CCCI Properties, the Sara Claim Group and the MAN Property. The Company has completed the acquisition of the Excelsior Property and Sara Claim Group through purchase and sale agreements. The Company has the right to acquire the corporate group that holds the CCCI Properties through an option agreement. The Company has the right to acquire the MAN Property through an option agreement. See the 'Commitments' section of the Company's most recently filed Management Discussion and Analysis for further details. Intrepid is confident that by combining modern exploration techniques with historical data and with a clear focus on responsible development, the Corral Copper Property can quickly become an advanced exploration stage project and move towards development studies. About Intrepid Metals Corp. Intrepid Metals Corp. is a Canadian company focused on exploring for high-grade essential metals such as copper, silver, and zinc mineral projects in proximity to established mining jurisdictions in southeastern Arizona, USA. The Company has acquired or has agreements to acquire several drill ready projects, including the Corral Copper Project (a district scale advanced exploration and development opportunity with significant shallow historical drill results), the Tombstone South Project (within the historical Tombstone mining district with geological similarities to the Taylor Deposit, which was purchased for $1.3B in 2018 5, though mineralization at the Taylor Deposit is not necessarily indicative of the mineral potential at the Tombstone South Project) both of which are located in Cochise County, Arizona and the Mesa Well Project (located in the Laramide Copper Porphyry Belt in Arizona). Intrepid has assembled an exceptional team with considerable experience with exploration, developing, and permitting new projects within North America. Intrepid is traded on the TSX Venture Exchange (TSXV) under the symbol 'INTR' and on the OTCQB Venture Market under the symbol 'IMTCF'. For more information, visit INTREPID METALS CORP. On behalf of the Company 'Ken Engquist' CEO For further information regarding this news release, please contact: Ken Engquist, CEO 604-681-8030 [email protected] Notes 1 Composite intervals are calculated using length weighted averages based on a combination of lithological breaks and copper, gold, silver and zinc assay values. All intervals reported are core lengths, and true thicknesses are yet to be determined. Mineral resource modeling is required before true thicknesses can be confidently estimated. Analyzed Grade corresponds composite weighted ('composites') averages of laboratory analyses. Metal Equivalent corresponds to undiluted metal equivalent of reported composites. Metal prices used for the CuEq and AuEQ calculations are in USD based on Ag $22.00/oz, Au $1900/oz, Cu $3.80/lb, Zn $1.15/lb The following equation was used to calculate copper equivalence: CuEq = Copper (%) (85% rec.) + (Gold (g/t) x 0.71)(80% rec.) + (Silver (g/t) x 0.0077)(80% rec.) + (Zinc (%) x 0.28)(80% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (g/t)(80% rec.) + (Copper (%) x 1.4085)(85% rec.) + (Silver (g/t) x 0.0108)(80% rec.) + (Zinc (%) x 0.4188)(80% rec.). Analyzed metal equivalent calculations are reported for illustrative purposes only. The metal chosen for reporting on an equivalent basis is the one that contributes the most dollar value after accounting for assumed recoveries. 2 Briggs, D.F., 2015, History of the Warren (Bisbee) Mining District, Arizona Geological Survey Contributed Report CR15b,8 p. 3 Lewis, K., 2022, Geology and Mineralization of the Undeveloped Cochise Supergene Porphyry Copper Deposit, Warren (Bisbee) Mining District, Cochise County, Arizona, The University of Arizona, MSc thesis, 104 pages. 4 Information disclosed in this news release regarding the historic Bisbee Camp can be found on the Copper Queen Mine website and on the City of Bisbee website ( ). 5 Details regarding the sale of the Taylor Deposit can be found in South32 News Release dated October 8, 2018 ( South32 completes acquisition of Arizona Mining ). Cautionary Note Regarding Forward-Looking Information Certain statements contained in this release constitute forward-looking information within the meaning of applicable Canadian securities laws. Such forward-looking statements relate to: the advancement of the Company's projects in Arizona; the exploration potential of the Corral Copper Property including its mineralization potential; the timing, details and goals of the next exploration and drill program; the development of the next district scale copper opportunity in North America; the objective of further delineating and expanding the impressive 3.5 by 1.5 kilometer copper-gold-silver-zinc mineralized footprint identified during the 2024 program; the details of the porphyry copper-gold targets have been identified on the Corral Copper Project; the statement regarding building on the strong results of the Company's earlier work and is a significant step forward in advancing this highly promising discovery; and the exploration potential of the Company's other mineral projects. In certain cases, forward-looking information can be identified by the use of words such as 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might', 'occur' or 'be achieved' suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the Company can raise additional financing to continue operations and complete an additional drill program; the results of exploration activities, commodity prices, the timing and amount of future exploration and development expenditures, the availability of labour and materials, receipt of and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to the ability to access infrastructure, risks relating to the failure to access financing, risks relating to changes in commodity prices, risk related to unanticipated geological or structural formations and characteristics risks related to current global financial conditions, risks related to current global financial conditions and the impact of any future global pandemic on the Company's business, reliance on key personnel, operational risks inherent in the conduct of exploration and development activities, including the risk of accidents, labour disputes and cave-ins, regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, environmental risks and the additional risks identified in the 'Risk Factors' section of the Company's reports and filings with applicable Canadian securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking view the source version of this press release, please visit
Associated Press
15-04-2025
- Business
- Associated Press
Intrepid Metals Identifies Several New Porphyry Copper-Gold Targets at Corral Copper
Vancouver, British Columbia--(Newsfile Corp. - April 15, 2025) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ('Intrepid' or the 'Company') is pleased to announce that several new porphyry copper-gold targets have been identified on the Corral Copper Property ('Corral' or the 'Property'), located in Cochise County, part of the prolific Turquoise District of southeastern Arizona. Corral is geologically analogous to the prolific Bisbee Camp (located ~100km southeast) where high-grade copper-gold Carbonate Replacement Deposits ('CRD') (e.g., Copper Queen; 53Mt @ 6% Copper 1 ) are spatially associated with Jurassic porphyry copper-gold porphyry deposits (Lavender Pit; 223 Mt @ 0.63% Copper past production 2 ). Although there is porphyry style alteration and mineralization at Corral, a systematic porphyry exploration campaign for the district has not been previously completed. 'The Corral Copper District hosts widespread carbonate replacement copper-gold-silver mineralization, which represents the distal expression of a potential copper porphyry deposit,' stated Ken Engquist, CEO of Intrepid. 'Aspects of the CRD mineralization intersected during the 2024 drill program at Corral confirmed our assertion that there is porphyry copper potential at the Property. The drill core demonstrates key geological features consistent with the transition from lower temperature CRD mineralization to higher temperature skarn mineral assemblages, as well as mineralized vein styles that form in or near the porphyry environment.' The Corral Copper Project is centered on 3 northwest trending CRD style copper-gold-silver prospects including Ringo, Earp and Holliday (Figure 1). At Bisbee, deposits formed in the same host rocks (Abrigo Limestone) and similar age and composition intrusions ~100 kilometers southeast of Corral and include the Copper Queen CRD (53 Mt @ 6% Copper 1 ) and the associated Lavender porphyry copper deposit that contains 223 Mt @ 0.63% Cu 2. Since CRD style copper-gold-silver mineralization can occur peripheral to a copper-gold porphyry deposit, Intrepid has, for the first time in the Property's history, conducted a systematic targeting exercise to identify porphyry zones in a highly prospective exploration district with intensely altered and copper-gold mineralized host rocks. The Company cautions that discoveries or mineralization on analogous properties (e.g. Bisbee Camp, Copper Queen, Lavender Pit) may not necessarily be indicative to the presence of mineralization on the Corral Property. New Porphyry Copper-Gold Targets The highly successful 2024 drill program at Corral provided Intrepid the first opportunity to evaluate host rocks, alteration and mineralization styles and intensities in all of the Holliday, Earp and Ringo zones (see Intrepid News Release dated July 9, 2024; Figure 1). The Ringo Zone is best understood and is significant because it contains a near-surface supergene enrichment blanket, disseminated intrusion hosted copper-gold-sliver mineralization in the Copper Bell Porphyry, as well as CRD style mineralization hosted in the Cambrian Abrigo and Mississippian Escabrosa formation limestones. Mineralization styles include multiple high-grade lenses of massive sulphide, copper-bearing hydrothermal breccias in addition to mineral assemblages transitional to higher temperature skarn and vein features with associated potassic alteration consistent with porphyry copper-gold deposits (porphyry B-Veins; see Figures 2A-F). The Corral Copper Project contains numerous examples of superposed argillic, quartz-sericite-pyrite and locally higher temperature potassic alteration in intrusions which indicates proximity to porphyry copper-gold mineralization (Figures 1 and 2). Intrepid has conducted systematic exploration targeting leveraging geological mapping and geochemical sampling, WorldView3 short wave infrared surface alteration studies and ZTEM, VTEM, radiometric and magnetic airborne geophysics to identify positions on the property with porphyry copper-gold potential. Intrepid has prioritized target areas with porphyry-style surface expressions defined by multiple datasets that exceed 1 x 1 kilometers with demonstrable depth continuity. Intrepid is currently conducting field mapping and sampling to strengthen confidence in the porphyry targets with the ultimate objective of advancing them to the drill stage. Targets are associated with surface alteration (mapping and/or WorldView3 anomalies), large, deep ZTEM resistivity/conductivity and magnetic geophysical features. The highest priority targets are directly associated with copper-gold mineralization at surface (Figure 1). [ This image cannot be displayed. Please visit the source: ] To view an enhanced version of this graphic, please visit: [ This image cannot be displayed. Please visit the source: ] To view an enhanced version of this graphic, please visit: On July 9, 2024, Intrepid announced the final results from its initial drill program at Corral, igniting substantial interest in the Property. The program delivered high-grade intercepts, particularly from the Ringo Zone: - 112.95 meters ('m') of 1.50% Copper ('Cu'), 0.53 grams per ton ('gpt') Gold ('Au') and 8.22 gpt Silver ('Ag') (1.66% Copper Equivalent ('CuEq') 3 ) from 68.40 to 181.35m in Hole CC24_023 including, - 193.15m of 0.68% Cu and 0.33 gpt Au (0.83% CuEq 3 from 27.00 to 220.15m in Hole CC24_011 including, The Company's initial drill results highlight the Property's significant potential to host significant intervals of copper-gold-silver-zinc mineralization. Please refer to the news release dated July 9, 2024 entitled '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,' which is filed on SEDAR+ at for additional information regarding these drill results. Additional Updates The Company also announced that it has entered into a Purchase and Sale Agreement (the 'Agreement') for a patented mining claim (the 'Emmet Claim') from Silver Nickel Mining Company. The new acquisition adds an additional 19.13 acres contiguous to the Company's Corral Copper Project. The terms of the Agreement are as follows: - Intrepid shall pay the vendor $10,000 USD upon closing and shall issue 75,000 common shares for 100% of the Emmet Claim. - The closing of the acquisition of the Emmet Claim is subject to the approval of the TSX Venture Exchange. - The vendor is arm's length to the Company. - No finder's fees are payable in connection with this transaction. In addition, the Company has granted a total of 1,850,000 stock options to directors, officers and consultants of the Company. The stock options have an exercise price of $0.39 and expire on April 14, 2030. About Corral Copper The Corral Copper Property, located near historical mining areas, is an advanced exploration and development opportunity in Cochise County, Arizona. Corral is located 15 miles east of the famous mining town of Tombstone and 22 miles north of the historic Bisbee mining camp which has produced more than 8 billion pounds of copper 4. Production from the Bisbee mining camp, or within the district as disclosed in the next paragraph, is not necessarily indicative of the mineral potential at Corral. The district has a mining history dating back to the late 1800s, with several small mines extracting copper from the area in the early 1900s, producing several thousand tons. Between 1950 and 2008, various companies explored parts of the district, but the effort was uncoordinated, non-synergistic and focused on discrete land positions and commodities due to the fragmented ownership. Intrepid has been able to secure data from various sources which provides a solid foundation in creating geological interpretations and identifying new target areas. The Corral Copper Property is comprised of the Excelsior Property, the CCCI Properties, the Sara Claim Group and the MAN Property. The Company has completed the acquisition of the Excelsior Property and Sara Claim Group through purchase and sale agreements. The Company has the right to acquire the corporate group that holds the CCCI Properties through an option agreement. The Company has the right to acquire the MAN Property through an option agreement. See the 'Commitments' section of the Company's most recently filed Management Discussion and Analysis for further details. Intrepid is confident that by combining modern exploration techniques with historical data and with a clear focus on responsible development, the Corral Copper Property can quickly become an advanced exploration stage project and move towards development studies. Technical Information All scientific and technical information in this news release has been prepared by, or approved by Daniel MacNeil, Mr. MacNeil is a Technical Advisor to the Company and is a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. MacNeil has verified the drilling data disclosed in this news release, including the assay and test data underlying the information or opinions contained in this news release. Mr. MacNeil verified the data disclosed (or underlying the information disclosed) in this news release by reviewing imported and sorted assay data; checking the performance of blank samples and certified reference materials; reviewing the variance in field duplicate results; and reviewing grade calculation formulas. Mr. MacNeil detected no significant QA/QC issues during review of the data and is not aware of any sampling, recovery or other factors that could materially affect the accuracy or reliability of the drilling data referred to in this news release. About Intrepid Metals Corp. Intrepid Metals Corp. is a Canadian company focused on exploring for high-grade essential metals such as copper, silver, and zinc mineral projects in proximity to established mining jurisdictions in southeastern Arizona, USA. The Company has acquired or has agreements to acquire several drill ready projects, including the Corral Copper Project (a district scale advanced exploration and development opportunity with significant shallow historical drill results), the Tombstone South Project (within the historical Tombstone mining district with geological similarities to the Taylor Deposit, which was purchased for $1.3B in 2018 5, though mineralization at the Taylor Deposit is not necessarily indicative of the mineral potential at the Tombstone South Project) both of which are located in Cochise County, Arizona, and the Mesa Well Project (located in the Laramide Copper Porphyry Belt in Arizona). Intrepid has assembled an exceptional team with considerable experience with exploration, developing, and permitting new projects within North America. Intrepid is traded on the TSX Venture Exchange (TSXV) under the symbol 'INTR' and on the OTCQB Venture Market under the symbol 'IMTCF'. For more information, visit INTREPID METALS CORP. On behalf of the Company 'Ken Engquist' CEO For further information regarding this news release, please contact: Ken Engquist, CEO 604-681-8030 [email protected] Notes 1 Briggs, D.F., 2015, History of the Warren (Bisbee) Mining District, Arizona Geological Survey Contributed Report CR15b,8 p. 2 Lewis, K., 2022, Geology and Mineralization of the Undeveloped Cochise Supergene Porphyry Copper Deposit, Warren (Bisbee) Mining District, Cochise County, Arizona, The University of Arizona, MSc thesis, 104 pages. 3 Composite intervals are calculated using length weighted averages based on a combination of lithological breaks and copper, gold, silver and zinc assay values. All intervals reported are core lengths, and true thicknesses are yet to be determined. Mineral resource modeling is required before true thicknesses can be confidently estimated. Analyzed Grade corresponds composite weighted ('composites') averages of laboratory analyses. Metal Equivalent corresponds to undiluted metal equivalent of reported composites. Metal prices used for the CuEq and AuEQ calculations are in USD based on Ag $22.00/oz, Au $1900/oz, Cu $3.80/lb, Zn $1.15/lb The following equation was used to calculate copper equivalence: CuEq = Copper (%) (85% rec.) + (Gold (g/t) x 0.71)(80% rec.) + (Silver (g/t) x 0.0077)(80% rec.) + (Zinc (%) x 0.28)(80% rec.). The following equation was used to calculate gold equivalence: AuEq = Gold (g/t)(80% rec.) + (Copper (%) x 1.4085)(85% rec.) + (Silver (g/t) x 0.0108)(80% rec.) + (Zinc (%) x 0.4188)(80% rec.). Analyzed metal equivalent calculations are reported for illustrative purposes only. The metal chosen for reporting on an equivalent basis is the one that contributes the most dollar value after accounting for assumed recoveries. 4 Information disclosed in this news release regarding the historic Bisbee Camp can be found on the Copper Queen Mine website and on the City of Bisbee website ( ). 5 Details regarding the sale of the Taylor Deposit can be found in South32 News Release dated October 8, 2018 ( South32 completes acquisition of Arizona Mining ). Cautionary Note Regarding Forward-Looking Information Certain statements contained in this release constitute forward-looking information within the meaning of applicable Canadian securities laws. Such forward-looking statements relate to: the advancement of the Company's projects in Arizona; continued growth, ongoing success;; the exploration potential of the Corral Copper Property including that it is a district scale advanced exploration and development opportunity with significant shallow historical drill results; the details of the porphyry copper-gold targets have been identified on the Corral Copper Project; the significant potential for new discoveries across Corral Copper's expansive land package; the timing, details and goals of the next drill program; the development of the next district scale copper opportunity in North America; the significant potential to host significant intervals of copper-gold-silver-zinc mineralization; and the exploration potential of the Company's other mineral projects. In certain cases, forward-looking information can be identified by the use of words such as 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might', 'occur' or 'be achieved' suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the Company can raise additional financing to continue operations and complete an additional drill program; the results of exploration activities, commodity prices, the timing and amount of future exploration and development expenditures, the availability of labour and materials, receipt of and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to the ability to access infrastructure, risks relating to the failure to access financing, risks relating to changes in commodity prices, risk related to unanticipated geological or structural formations and characteristics risks related to current global financial conditions, risks related to current global financial conditions and the impact of any resurgence of COVID-19 on the Company's business, reliance on key personnel, operational risks inherent in the conduct of exploration and development activities, including the risk of accidents, labour disputes and cave-ins, regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, environmental risks and the additional risks identified in the 'Risk Factors' section of the Company's reports and filings with applicable Canadian securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking view the source version of this press release, please visit
