Intrepid Metals Corp (TSX-V:INTR, OTCQB:IMTCF) unveiled the final three drill holes from its latest drill program at the Corral copper property that showed the highest-grade intercepts of the entire program.
Drilling at the Ringo Zone revealed significant mineralization over a 3.5-kilometer trend.
Highlights from the final drill holes included one intercept of 112.95 meters of 1.50% Copper, 0.53 grams per ton Gold, and 8.22 grams per ton Silver (1.66% Copper Equivalent), with notable sections grading 20.2% copper, 8.51 grams per ton gold, and 250 grams per ton Silver (23.85% Copper Equivalent).
Similarly, another hole showed 64.95 meters of 0.84% Copper, 0.35 grams per ton Gold, and 2.83 grams per ton Silver (0.96% Copper Equivalent), including intervals of 15.65 meters of 1.55% Copper, 0.55 grams per ton Gold, and 2.52 grams per ton Silver (1.71% Copper Equivalent) and 3.80 meters of 2.75% Copper, 1.07 grams per ton Gold, and 8.25 grams per ton Silver (3.13% Copper Equivalent).
Intrepid CEO Ken Brophy told shareholders that the results were the best the company has seen during its initial drill program.
"We are just beginning to scratch the surface of the potential with shallow and high-grade copper and gold mineralization within private lands at Corral Copper,” Brophy said in a statement.
Earlier drill results released in June include notable intercepts such as 91.4 meters of 0.71% Copper, 0.43 grams per ton Gold, and 5.99 grams per ton Silver in Hole CC24_022, with higher grades observed in sections like 20.95 meters of 1.37% Copper, 1.39 grams per ton Gold, and 5.11 grams per ton Silver.
The company has completed additional mapping and is compiling the data collected to date, which Brophy said will guide planning for the next drill program, expected to start later this year.
Intrepid’s founder and chairman Mark Morabito congratulated the team on a successful initial drill program.
“This marks just the beginning at Corral, and we are incredibly pleased with our initial progress,” the chair said.
New geological data will target porphyry copper-gold sources and expand high-grade polymetallic domains, indicating a more extensive mineralized footprint than previously thought.
The Corral Copper Property encompasses the Holliday, Earp, and Ringo zones, characterized by discontinuous outcroppings of high-grade CRD and skarn mineralization, influenced by supergene enrichment in a porphyry copper geological setting.
In 2024, Intrepid conducted 2959.55 meters of diamond drilling at Ringo, identifying near-surface copper-gold-silver-zinc skarns associated with magnetite and hematite.
The Ringo Zone spans approximately 900m by 800m and features Abrigo Limestone and Bolsa Formation, alongside pre-mineral intrusions, alteration zones, and locally high-grade copper-gold-silver-zinc replacement style mineralization and secondary enriched copper oxide zones.
Shares of Intrepid had gained over 17% in afternoon trading in Toronto at C$0.53.