Canadian explorer Intrepid Metals Corp. (TSXV: INTR) has revealed its new district scale, advanced exploration copper property, the Corral Copper Project, located in Cochise County, Arizona.
The project area is located approximately 20 miles from the company’s Tombstone South property and has over 50,000m of drilling, with shallow mineralization of copper, silver, zinc, and gold.
Ken Brophy, Intrepid Metals’ CEO, said that after many months of developing relationships with local stakeholders, he was very pleased to introduce the Corral Copper Project in Cochise County, Arizona.
“We are excited to have secured such a robust land package in an area with historical mining that includes patented mining claims, private surface rights, federal mineral claims and Arizona State Mineral Exploration Permits,” said Mr Brophy.
“There has been considerable interest from both junior exploration and large mining companies – including Anglo American [LSE: AAL] – however, fractured land ownership structures, and a variety of commercial disputes in the district, have previously acted as a barrier in the advancement of the district.
“We have invested significant time to learn from local stakeholders about the fragmented land ownership and historical conflicts as we take steps to consolidate key land positions.
“This area is one which we have been interested in since completing our change of business in May of 2022 and believe it will be a great strategic fit with our Tombstone South and Mesa Well properties, as we remain focused on drill ready copper and silver projects within a tier one mining state like Arizona,” he added.
Consolidation of the district
Intrepid Metals has concluded transactions for 100% ownership with two of the largest individual land holders in the Corral district and remains actively engaged with other stakeholders to further consolidate land holdings in the area.
The Corral Copper Project combines two previously announced agreements, both of which have been approved by the TSXV: the definitive agreement with Cave Creek Copper Inc. and the purchase and sale agreement with Excelsior Mining Corp (TSX: MIN).
Previous work on site
Over 50,000m of historical drilling has been completed within the district, with significant near surface intercepts, including 126.2m (30.4m to 156.6m) of 1.24% copper in Hole 20_01, drilled by Santa Fe Pacific Mining Inc in 1990.
This drill result is historical in nature and based on assay information from Ski Line Labs Inc. Intrepid has not yet 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 says it considers these historical drill results relevant, and will use these data as a guide to plan future exploration programmes.
Intrepid also considers the data to be reliable for these purposes; however, the company’s future exploration work will include verification of the data through drilling.
To find out more, visit: https://www.intrepidmetals.com/