IDEX Identifies Multiple Porphyry Targets at Freeze Project with Final Drill Results and Integrated Geophysics
IDEX Identifies Multiple Porphyry Targets at Freeze Project with Final Drill Results and
Integrated Geophysics
Vancouver, B.C. – February 25th, 2026: IDEX Metals Corp. (“ IDEX” or the “ Company”) (TSXV: IDEX;
OTCQB: IDXMF) is pleased to report final assay results from drill holes KSMT25005 and KSMT25006
at its 100% -owned Freeze Copper -Gold-Molybdenum Project in Idaho, USA (“Freeze”, or the
“Property”). The 2025 drill program succeeded in confirming continuous mineralization across the
Kismet Breccia Complex (“Kismet”), with each of the campaign’s six drill holes intersecting
significant copper.
Drilling demonstrated that the Freeze system extends from a surface-exposed tourmaline breccia
complex into deeper intrusive -hosted mineralization. Notably, drill hole KSMT25006 intersected
intrusive-hosted copper-molybdenum mineralization, following the penetration of a pyrite-rich shell,
representing a key geological transition within the system. Increasing molybdenum grades and
molybdenite-chalcopyrite-bearing vein networks occurring towards the bottom of the hole – strong
geochemical vectors – suggest proximity to a deeper magmatic-hydrothermal source.
These geological observations are supported by newly -acquired induced polarization (IP) and
Magnetotelluric/Extremely Low Frequency (MT/ELF) geophysical data, which define a large,
coherent conductivity anomaly at depth beneath the Kismet and North Breccia trend; this represents
a priority porphyry target to begin drilling in 2026.
Exploration Highlights
• KSMT25005 intersected 87.03 m of 0.36% CuEq (0.285% Cu, 2.04 g/t Ag, 57 ppm Mo), within
287.43 m of 0.27% CuEq (0.19% Cu, 1.27 g/t Ag, 72 ppm Mo)
• KSMT25006 intersected 1 09.80 m of 0. 54% CuEq (0.12% Cu, 0.65 g/t Ag, 517 ppm Mo),
within 428.55 m of 0.278% CuEq (0.12% Cu, 0.68 g/t Ag, 186 ppm Mo)
• Largest intersection of intrusive-hosted copper–molybdenum mineralization to date, in drill
hole KSMT25006, following penetration of a pyrite-rich shell
• Strong molybdenum enrichment and molybdenite veining at depth , supporting vectoring
towards a magmatic-hydrothermal source
• IP and MT/ELF geophysics define a large conductivity anomaly at depth , directly beneath
Kismet and the North Breccia
• Expanded Phase II drill program set to begin Spring 2026, designed to expand the resource
through the Kismet Corridor (Kismet>North Breccia>Frostfall), along with exploratory drilling
at the CM, Olive Creek, and Devils Slide targets
• First, drill-ready target defined for 2026 , stepping onto the North Breccia and testing the
center of the geophysical anomaly
Clayton Fisher, CEO of IDEX Metals Corp. commented, “Our 2025 drill program clearly demonstrated
the consistent presence of copper mineralization from surface to depth across an emerging porphyry
prospect at Freeze. We have two tourmaline breccias exposed at surface, copper mineralization in all six
drill holes completed to date, and — critically — we’ve now intersected intrusive -hosted copper -
molybdenum mineralization, after drilling through a pyrite shell in hole KSMT25006.”
“The increasing molybdenum grades and molybdenite veining at the bottom of that hole provided
exactly the kind of geological indicators we want to see as we vector towards a deeper magmatic source.
When we overlay that data with our IP and MT/ELF geophysics – which define a large conductivity
anomaly directly below Kismet and the North Breccia – the picture becomes very compelling. In 2026, we
plan to step out onto the North Breccia and drill straight down into the heart of that anomaly.”
Figure 1: Plan Map of Drill Holes Completed in 2025 Drill Season
Table 1: 2025 Drill Program Intercepts for KSMT25001 – KSMT25006
Hole ID From To Interval Cu
(%)
Ag
(ppm)
Mo
(ppm)
CuEq
(%)
W (ppm)
KSMT25001 1.50 183.75 182.25 0.32 1.08 29.96 0.33 108.44
KSMT25002 1.89 422.70 420.81 0.37 1.96 191.66 0.55 419.60
incl 1.89 252.55 250.66 0.54 20.91 186.72 0.73 631.37
or 1.89 162.00 160.11 0.77 3.99 162.15 0.95 587.97
with 61.00 162.00 101.00 1.02 5.47 227.46 1.28 802.10
KSMT25003 1.83 346.56 344.73 0.19 1.05 97.67 0.28 77.80
incl 39.95 97.05 57.10 0.50 3.14 140.20 0.65 119.90
KSMT25004 1.37 518.31 516.94 0.23 1.48 147.59 0.29 249.21
incl 38.71 383.05 344.34 0.30 1.88 146.72 0.45 322.31
with 90.05 220.98 130.93 0.40 1.87 89.19 0.50 300.33
KSMT25005 3.72 287.43 283.71 0.19 1.27 72.57 0.27 361.07
incl 3.72 90.75 87.03 0.28 2.04 56.92 0.36 280.92
with 99.36 105.46 6.10 0.80 9.08 59.84 0.97 504.81
KSMT25006 0.00 428.55 428.55 0.12 0.68 186.07 0.28 60.73
and 252.00 361.80 109.80 0.12 0.65 517.22 0.54 21.63
with 252.00 286.00 34.00 0.13 0.60 209.42 0.31 22.49
and 324.09 355.70 31.61 0.16 0.77 659.59 0.70 14.71
*Copper equivalent calculations used the following assumptions: US$3.75/lb Copper, US$35/oz Silver, US$30/lb Molybdenum,
and metallurgical recoveries were assumed to be 90%. All intervals are presented as core lengths as the true thicknesses of
mineralization is currently unknown.
Figure 2: Drill Results for the 2025 Drill Program Showing Lithology and Downhole Copper
KSMT25005
Drill hole KSMT25005 was drilled off the same pad as KSMT25001 and KSMT25002 but oriented at
an azimuth of 45 degrees , to evaluate the eastern extent of the Kismet Breccia Complex. The hole
was completed to a depth of 287.43 metres. KSMT25005 was c ollared in the same breccia unit
encountered at the top of all previous holes, consisting of a clast -supported breccia hosting oxide
copper mineralization derived from the alteration of primary chalcopyrite with rare bornite. Copper
mineralization is strongest near surface and becomes variable downhole.
The breccia matrix is dominated by a distinctive tourmaline -bearing monzonite that brecciates
porphyritic granodiorite. This monzonite contains abundant 0.5 –1 cm acicular tourmaline and
represents a late -stage intrusive phase that can be correlated across all drill holes completed to
date. Toward s the end of the hole, a sequence of tourmaline -bearing intrusive pulses and
hydrothermal fluids overprints an earlier tonalite phase, accompanied by magnetite, tourmaline, and
pyrite. These features indicate a sust ained and evolving hydrothermal system along the eastern
margin of the breccia complex.
KSMT25006
Drill hole KSMT25006 was the final hole completed during the 2025 exploration campaign at the
Property. The hole was collared approximately 340 metres north of drill holes KSMT25001,
KSMT25002, and KSMT25005, and was drilled at an azimuth of 340 degrees to a total depth of
428.55 metres. The primary objectives of KSMT25006 were to test the northern extent of the Kismet
Breccia Complex, evaluate its potential connection to the North Breccia Zone (as referenced in a
previous news release), and assess the structural and mineralogical relationship with Hornet Creek,
which is interpreted to represent a m ajor control on mineralization across the Freeze Property.
Drilling was terminated due to challenging weather conditions, access, drill suitability and safety
considerations.
Figure 3: KSMT25006 Intrusive Mineralization at Depth of 345.03m – Molybdenite & Chalcopyrite with QSP
Alteration & D-Vein Stockwork
KSMT25006 intersected a magmatic breccia sequence at surface, characterized by a monzonitic
matrix containing clasts of porphyritic granodiorite and alternating between clast -supported and
matrix-supported textures consistent with breccias observed elsewhe re on the Property. At depth,
the hole transitioned into porphyritic granodiorite that is strongly overprinted by quartz -sericite-
pyrite alteration, including D -type pyrite veins and quartz -pyrite-molybdenite-chalcopyrite vein
networks. This interval repr esented the first occurrence of well -developed vein -hosted
mineralization encountered during the drill program and is interpreted to form part of a pyrite -rich
shell associated with an underlying magmatic-hydrothermal system.
Integrated evaluation of lithology, alteration, and geochemistry at the bottom of KSMT25006
indicates a vector towards a potential heat source, highlighted by increasing molybdenum values (as
molybdenite) and the development of localized potassic alteration overprinted by phyllic alteration.
These observations, when considered alongside newly -acquired geophysical data, support the
interpretation that a deeper, mineralized magmatic-hydrothermal system may be present within the
broader Kismet corridor.
Induced Polarization (IP) Survey
Figure 4: IP Results, High Chargeability Feature Trending NW Along the Kismet Corridor
IP was completed during the 2025 season by Moombarriga Geoscience Pty. LT totalling 4.8 line-km.
The IP was targeting the zone between the North Breccia Target and the Olive Creek drainages. The
IP reveals several conceptual targets that will be followed up on during the 2026 exploration
campaign.
At Kismet, IP data define a broad, mildly -chargeable and moderately -resistive feature spatially
coincident with the Kismet tourmaline breccia complex. This feature occurs outboard of a distinct,
highly-chargeable and highly -resistive anomaly that extends northward from Kismet toward the
North Breccia. The Hornet –North Breccia anomaly is spatially coincident with a pyrite -rich shell
intersected in drill hole KSMT25006 and is interpreted to represent the flank of a magmatic -
hydrothermal system.
Figure 5: IP Results (Figure 4, Cross Section B-B')
The Olive anomaly is defined as a focused zone of elevated chargeability within a moderately -
resistive host, consistent with a discrete and vertically-continuous subsurface feature. The continuity
and geometry of the anomaly are interpreted to suggest a localized structural conduit or a vertically-
continuous intrusive feature. Its position outboard of the Kismet complex and the Hornet –North
Breccia system highlights it as a prospective target where in sulfide mineralization may be spatially
concentrated along a structural corridor. Field reconnaissance indicates that the area is covered by
Tertiary basalt flows, which mask the interpreted lithologies at depth. The Olive target is therefore
considered to warrant follow -up drilling to test its depth extent and relationship to known
mineralized zones.
The southeasternmost portion of the IP section is characterized by a zone of elevated resistivity with
minimal associated chargeability. This anomaly is currently unconstrained but spatially coincides
with mapped diorite intrusive rocks with localized tourmaline development, sodic–calcic alteration,
and zones of autobrecciation. The geophysical response defines a coherent and laterally-continuous
zone that is distinct from the chargeable features observed to the northwest. Additional fieldwork
will aim to further constrain the relationship between the IP and lithological characteristics within
this zone.
Magnetotelluric (MT) and Extremely Low Frequency (ELF) Surveys
Figure 6: MT & ELF Results with 2026 Drill Targets
In 2025, IDEX completed a joint Magnetotelluric (MT) and Extremely Low Frequency (ELF) survey
covering large parts of the Freeze Property, with a particular focus on the Kismet Breccia Complex
and the surrounding mineralized corridor. The survey produced a Property-wide resistivity and
conductivity dataset that has since been inverted and reprocessed. The results continue to outline a
large and coherent geophysical system centered on the Kismet corridor.
In the immediate vicinity of the Kismet breccia pipe, the resistivity model defines a shallow, localized
zone of relatively weak resistivity (~400 ohm -m) that is limited in vertical extent. This shallow
response is spatially associated with – but offset from – a deeper zone of moderate conductivity
developed beneath and adjacent to the breccia. This geometry is consistent with the Company’s
interpretation of Kismet as a shallow expression of a deeper magmatic -hydrothermal system, with