Intrepid Metals Corp. (TSXV: INTR | OTCQB: IMTCF) has closed the previously announced option to acquire a 100% interest in the MAN Property from Mining and Mineral Opportunity Ltd. (MMO) within its Corral Copper Project, in Cochise County, Arizona. The Corral Copper Project area includes 50,000m of historical drilling data, with shallow mineralization of copper, and gold.
“We are very pleased to close this integral acquisition as it completes the consolidation of a 3 km trend of impressive copper and gold mineralization within our larger Corral Copper Project area,” said Ken Brophy, CEO of Intrepid. “We are excited to begin to unlock the value within the district as the previous fragmented land ownership has acted as a barrier to a district scale approach to exploration and development.”
The MAN Property hosts 80 previous drill holes and 19,449m of assay data, within 622 acres of patented mining claims and BLM lode claims. With the addition of the MAN Property, the Corral Copper Project now contains a 3km long mineralized trend and totals over 9,600 acres, including 1,800 acres of patented mining claims and surface rights.
Several high-grade copper and gold intercepts from historic drilling including:
- Hole 28_08: 53.03m of 1.63% Cu and 1.45g/t Au
- Hole 28_01: 72.03m of 0.75% Cu, 0.34g/t Au and 14.47g/t Ag
In connection with closing, Intrepid has made the initial C$200K cash payment and issued 3.5M shares to MMO. Intrepid will take over as operator of the property and will be responsible for future exploration work and maintaining the properties in good standing. The common shares issued to MMO are subject to a four month hold period that expires on 9 April 2024.
For further information, please visit: www.intrepidmetals.com
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