Interra Provides Rip Copper Molybdenum Project Exploration Update
Interra Provides Rip Copper Molybdenum
Project Exploration Update
Vancouver, British Columbia--(Newsfile Corp. - April 26, 2024) -
Interra Copper Corp. (CSE: IMCX)
(OTCQB: IMIMF) (FSE: 3MX)
("
Interra
" or the "
Company
") is pleased to provide detail of the first
phase exploration program at the Rip Copper Project (the "Project" or "Rip") in the Stikine region of
British Columbia. The Rip Project is situated approximately 33 km northeast of Imperial Metals' past
producing Huckleberry copper-molybdenum ("Cu-Mo") mine (see Figure 1), which is presently on care
and maintenance. Imperial Metals Corporation is exploring Huckleberry and its surrounding claims for
additional Cu-Mo resources.
In late 2023, the Company first announced its option agreement with ArcWest Exploration Inc.
("ArcWest") to acquire an 80% interest in ArcWest's Rip Cu-Mo project. Interra can earn the first tier of
its interest in the project by completing staged exploration work totalling C$2.0 million and direct
payment of C$100,000 and annual share payments over 4 years until end of 2027.
Interra is currently
funded for, and anticipates, it will meet and likely exceed its 2024 and 2025 obligations for the earn-in of
C$300,000 and C$500,000 in expenditures respectively with the budget outlined in this 2 stage
program. The initial program is staged into 2 work phases: 1) A geophysical program to define drill
targets, commencing in late April and; 2) A diamond drilling program tentatively scheduled for Q3/Q4 of
2024.
The stage 1 exploration program consists of an airborne magnetic survey flown by Precision Geosurveys
followed by a 3D-IP survey to be completed by DIAS Geophysical The 3D-IP survey is designed to
further delineate and potentially expand upon a historical chargeability anomaly identified on the project
by Kennco in the late 1970s, as shown in Figure 2.
Shallow percussion drilling of this chargeability anomaly by Kennco intersected porphyry copper style
alteration and anomalous Cu-Mo mineralization over a broad area. A lone diamond drill hole intersected
anomalous Cu (0.07%) and Mo (0.005%) over 74m in strongly quartz-sericite-pyrite ("QSP") altered
volcanic rocks cut by late feldspar porphyry and mineralized quartz diorite dykes; the bottom 64m
consists of intrusive clast-rich polymictic breccia cut by abundant pyrite, gypsum and quartz veins with
local secondary biotite. QSP, intermediate argillic ("IA") and propylitic alteration predominate in the
holes, suggesting that the Kennco holes only tested the upper levels of a shallowly eroded porphyry Cu-
Mo system.
Figure 1 - Rip Regional Google Earth Map Image of Satellite Photo
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7923/206939_2cc7675014a13a07_002full.jpg
Potential therefore exists at Rip for the discovery an underlying Cu-Mo mineralized potassic core. The
upcoming geophysical program has a much greater survey area than that of the historical surveys, and
as such, will play a key role in evaluating the depth potential of the Rip porphyry Cu-Mo system. The
airborne magnetic survey is estimated to commence in late April, with the 3D-IP survey estimated to
commence in May/June. Details of this survey are as shown in Figure 3.
Interra looks forward to the results of our programs in conjunction with our partners, ArcWest, and the
recently rejuvenated copper and precious metals markets. Updates are anticipated to be every couple of
months throughout the exploration season.
Figure 2 - Rip chargeability high from historical survey and alteration from percussion drill
holes
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7923/206939_interrafig2.jpg
Figure 3 - Transmitter and receiver stations for the 2024 3D-IP survey (Dias Geophysical). A
chargeability anomaly delineated by a historical IP survey is in red.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7923/206939_2cc7675014a13a07_004full.jpg
About Interra Copper Corp.
Interra Copper Corp. is focused on building shareholder value through the exploration and development
of its two early-stage copper exploration assets located in British Columbia, Canada.
The Thane Project located in the Quesnel Terrane of Northern BC spans over 20,658 ha with 6 high-
priority targets identified demonstrating significant copper and precious metal mineralization. The
Company has an earn-in option up to 80% and joint-venture agreement on the Rip Project located in
Stikine Terrane in a prolific belt of Late Cretaceous (bulkley plutonic suite), known for copper-
molybdenum deposits.
Interra Copper's leadership team is comprised of senior mining industry executives who have a wealth of
technical and capital markets experience and a strong track record of discovering, financing,
developing, and operating mining projects on a global scale. Interra Copper is committed to sustainable
and responsible business activities in line with industry best practices, supportive of all stakeholders,
including the local communities in which we operate. The Company's common shares are principally
listed on the Canadian Stock Exchange under the symbol "IMCX". For more information on Interra
Copper, please visit our website at
www.interracoppercorp.com
.
On behalf of the Board of Interra Copper Corp.
"Rick Gittleman"
President, CEO & Chairman
For further information contact:
Katherine Pryde
Investor Relations
+1 (778) 949-1829
Forward-Looking Information
This news release contains certain "forward-looking information" and "forward-looking statements"
(collectively "
forward-looking statements
") within the meaning of applicable securities legislation.
Forward-Looking statements are frequently, but not always, identified by words such as "expects",
"anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or
statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. All
statements, other than statements of historical fact, included herein, without limitation, statements
relating to the closing of the Private Placement, the receipt of all necessary regulatory and other
approvals, the use of proceeds from the Private Placement, and the revolving credit facility, including the
terms thereof, are forward-looking statements. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could differ materially from those anticipated in
such statements. Forward-Looking statements reflect the beliefs, opinions and projections on the date
the statements are made and are based upon a number of assumptions and estimates that, while
considered reasonable by Interra, are inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies. Many factors, both known and unknown, could cause
actual results, performance or achievements to be materially different from the results, performance or
achievements that are or may be expressed or implied by such forward-looking statements and the
parties have made assumptions and estimates based on or related to many of these factors. Such
factors include, without limitation, risks related to the Company receiving all approvals necessary for the
completion of the Private Placement and revolving credit facility and the timing thereof. Readers should
not place undue reliance on the forward-looking statements and information contained in this news
release concerning these items. Interra does not assume any obligation to update the forward-looking
statements of beliefs, opinions, projections, or other factors, should they change, except as required by
applicable securities laws. The Canadian Securities Exchange has not reviewed, approved or
disapproved the contents of this press release, and does not accept responsibility for the adequacy or
accuracy of this release.
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