Interra Reports Positive Thane Copper Gold Project Results and Provides Corporate Update
CSE: IMCX
WWW.INTERRACOPPERCORP.COM
INTERRA REPORTS POSITIVE THANE COPPER GOLD PROJECT RESULTS
AND PROVIDES CORPORATE UPDATE
November 22, 2024, VANCOUVER, British Columbia – Interra Copper Corp. (CSE: IMCX; OTCQB:
IMIMF; FRA: 3MX) (“Interra” or the “Company”) is pleased to announce results from a recent
geological review of the Thane Copper Gold Project (the “Project” or “Thane”). Thane is a 206 square-
kilometer (“km”) property that is 100% owned by Interra Copper and situated in central British
Columbia, Canada, between Centerra Gold’s Mt. Milligan mine and the former Kemess mine.
Highlights of Interra’s exploration results include:
• Discovery of the Bananas showing, an approximately 200 metre (“m”) long domain of
chalcopyrite mineralized porphyritic syenite cut by quartz-magnetite stockwork and
sheeted veins with extensive secondary copper (chrysocolla). Assay results from the
Bananas showing include:
o Sample 18615* on the southern portion of the zone yielded 3.82% copper (“Cu”) and
0.218 grams per tonne (“g/t”) gold (“Au”) (Table 1).
o Samples 18620* and 18617* from near the centre of the zone yielded 7.15% Cu and
0.472 g/t Au and 1.65% Cu and 0.746 g/t Au respectively (Table 1).
o Sample 18619* from the northern portion of the zone yielded 2.86% Cu and 0.258 g/t
Au (Table 1).
• A specialist team from Equity Exploration and Accretive Metals Advisory undertook a field
review of 19 targets on the property; their findings confirm that Thane has significant alkalic
copper-gold porphyry potential within a comparable geologic setting to nearby mines.
CEO Brian Thurston commented, “Interra’s 100% owned Thane property has some of BC’s most intense
stream sediment anomalies as well as broad zones of alteration and anomalous copper and gold
mineralization, providing strong evidence for the presence of a buried porphyry copper-gold deposit. The
Bananas showing comprises high-grade mineralization in permeable rocks where deeper portions of the
broader hydrothermal system may have been channeled closer to surface . This provides even more
compelling evidence for a robust mineral system with economic potential at Thane. We are excited to follow
up on this important discovery during the 2025 field season.”
The Thane copper-gold project is located in an underexplored portion of the northern Quesnel
Terrane, 11 km SE of the past producing Kemess South mine and 13 km NW of the Mount Milligan
mine. During early August, a specialist team from Equity Exploration and Accretive Metals Advisory
undertook a review of 19 targets within the large 206 km2 property. The team’s evaluation and field
observations confirmed that Thane has significant alkalic copper-gold porphyry potential within a
comparable geologic setting to nearby mines. Ten high-priority targets were recommended for
advancement, of which, the newly discovered Bananas showing and the previously known Gail
showing are ranked highest priority with strong copper-gold mineralized alteration systems in
favorable host rocks.
Follow up reconnaissance of the Bananas showing in September 2024, included preliminary
delineation of the mineralized zone over an approximately 200 m strike length in exposures spanning
approximately 100 vertical metres. The Bananas showing comprises a pinching and swelling 0.5 to 3
m thick domain of moderate to dense chalcopyrite bearing quartz-magnetite veins in iron-altered
porphyritic syenite. The domain is characterized by strong fracturing and locally focused shear zones.
Chrysocolla, formed from oxidation of the abundant copper mineralization, covers outcrop faces and
talus along the length of the showing (Figure 1). The Bananas showing is contained within a broad > 2
km2 iron oxide and clay anomaly observed from a recent ALS Goldspot hyperspectral study.
Fourteen geochemical samples were collected along 170 m of the exposed length of the showing.
Results range from 0.01 to 7.16% Cu and 0.003 to 0.746 g/t Au, with anomalous concentrations of
silver (“Ag”) ranging from 0.13 to 27.7 g/t and molybdenum (“Mo”) ranging from 3 to 156 parts per
million (“ppm”). Highlighted samples, as well as sample statistics for the full Bananas showing dataset
are in Table 1.
Figure 1: Copper staining from the new Bananas Showing
Table 1 Highlighted Results from The Bananas Showing, and Sample Statistics
Select Geochemical Samples*
ID Easting Northing Au (g/t) Ag (g/t) Cu% Mo (ppm)
18615 342626 6229738 0.218 18.2 3.820 102
18617 342637 6229765 0.746 9.7 1.650 156
18619 342630 6229909 0.258 21.0 2.860 83
18620 342635 6229839 0.472 27.7 7.150 126
Sample Statistics (n=14)
Au (g/t) Ag (g/t) Cu% Mo (ppm)
Max 0.746 27.7 7.150 156
Min 0.003 0.1 0.011 3
Median 0.018 0.6 0.080 7
Average 0.127 5.5 1.097 38
RIP Drilling Program Update
The Phase One drilling program at the Rip Copper Project (“Rip”) in central British Columbia has been
completed. Two drill holes totalling 1,033.27 meters tested the northern geophysical anomaly
reported by the Company in its July 31, 2024, press release. The Rip Project is situated approximately
33 km northeast of Imperial Metals’ past producing Huckleberry Cu-Mo mine and Surge Copper’s
advanced stage Ox/Seal/Berg projects (Figure 2).
Drill hole RP2024-001 tested to a depth of 533.40 m and targeted a magnetic high near the centre of
a combined magnetic-chargeability “bullseye” that defines the target. Drill hole RP2024-002 tested to
a depth of 499.87 m targeting a section of the 1 km diameter “doughnut” shaped chargeability high
(>35 mV/V) that surrounds the magnetic high. Both drill holes intersected multi-phase porphyritic
intrusions, and porphyry related alteration, veining, and mineralization that are consistent with the
geophysical signatures that were targeted. All core samples have been submitted to ALS laboratory in
Richmond Vancouver for geochemical analysis. Results will be announced once all results are received
and validated.
In 2023 the Company announced an option agreement with ArcWest Exploration Inc. (“ArcWest”) to
acquire an 80% interest in the RIP Cu-Mo project. Interra can earn the first tier of its interest in the
project (60%) by completing staged exploration work totalling C$2.0 million and direct payment of
C$100,000 and annual share payments over four years until the end of 2027.
Stars Acquisition Update
Further to the Company’s October 7, 2024, press release, the meeting materials for the annual general
and special meeting of the shareholders of Aurwest Resources Corporation (the “AGSM”) were mailed
prior to, and are not affected by, the recent postal strike. The AGSM is scheduled for December 10,
2024, is expected to proceed as planned. Shareholders of Aurwest Resources Corporation will have
the opportunity to vote on the proposed sale of the Stars Property to Interra. Subject to the approval
of such resolution by the shareholders of Aurwest Resources Corporation and subsequent approval
by the Canadian Securities Exchange (the “CSE”), the acquisition of the Stars Property by Interra is
expected to close before December 16, 2024.
Figure 2: Interra Property Location Map
Market Maker
Interra is pleased to announce that, subject to regulatory approval, the Company has retained Venture
Liquidity Providers Inc. ("VLP") to initiate its market-making service in maintaining an orderly trading
market for the Company's common shares. The market-making service will be undertaken by VLP
through registered broker, W.D. Latimer Co. Ltd., in compliance with the policies of the CSE and other
applicable laws.
In consideration for the services provided by VLP, the Company has agreed to pay VLP $5,000 per
month, commencing October 1, 2024, for an initial term of three months. Following the initial term,
the agreement will renew for successive one-month terms, provided that after the initial three-month
term the agreement may be terminated by either party at any time. Prior to retaining VLP, the
Company and VLP were at arm's length and VLP had no interest, direct or indirect, in the Company or
its securities. The finances and the shares required for the market-making service are to be provided
by W.D. Latimer Co. Ltd. The fee paid by the Company to VLP is for services only and there are no
performance factors contained in the agreement. VLP will not receive Interra shares nor options as
compensation.
VLP is a specialized consulting firm based in Toronto providing a variety of services focused on CSE-
listed issuers. VLP's CEO, JC Cunningham, can be reached by telephone at (416) 891-4349 or by email
Business Development
Interra is pleased to announce that the Company has entered into a corporate services agreement
with CSC2020 Corp. ("CSC") to deliver a holistic suite of consulting, branding, and technology services,
specifically designed to elevate the Company's public market strategies, increase product market
reach, and brand positioning commencing November 25, 2024. The Company will also have access to
CSC’s proprietary AI-driven product line and content marketing.
In consideration for the services provided by CSC, the Company has agreed to pay CSC a service fee
of $40,000 (plus applicable tax) for an initial term of six months. The agreement will subsequently
renew for additional one-month terms unless terminated, which may be effected by either party with
30 days' notice. There are no performance factors contained in the agreement. The Company and CSC
are at arm's length and CSC has no interest, direct or indirect, in the Company or its securities.
Shares for Debt
In connection with the engagement of CSC, the Company and CSC have agreed to settle the
outstanding debt owed by the Company to CSC for an aggregate of 420,000 common shares of the
Company (the “Debt Settlement Shares”) at a deemed price of $0.10 per Debt Settlement Share.
All Debt Settlement Shares will be subject to a hold period expiring four months and one day after the
date of issuance.
The securities described herein have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and,
accordingly, may not be offered or sold in the United States or to, or for the account or benefit of,
“U.S. persons” (as those terms are defined in Regulation S under the U.S. Securities Act) absent
registration or an applicable exemption from the registration requirements of the U.S. Securities Act
and applicable state securities laws. This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described in this news release in the United States
or any other jurisdiction in which such offer, solicitation or sale would be unlawful.
IR Appointment
The Company would also like to announce the appointment of Mr. Kelly Abbott as Investor Relations
and marketing awareness. Mr. Abbott has extensive experience in public markets and has helped
secure millions of dollars in capital for both public and private companies. Mr. Abbott’s expertise is in
marketing, corporate strategy, venture capital and business development.
Stock Options
The Company has granted stock options to a consultant of the Company to acquire an aggregate of
150,000 common shares in the capital of the Company, pursuant to the Company’s Equity Incentive
Plan. The stock options are each convertible into a common share of the Company at an exercise price
of $0.12 until November 14, 2029, and are subject to vesting over a period of 18 months.
Geochemical Methodology and Quality Control
All samples were collected by Interra staff and contractors from outcrops, packaged in polyurethane
sample bags, and submitted directly to ALS Geochemical Laboratory in North Vancouver. They were
prepared for analysis according to ALS method PREP-31: each sample was crushed to 70% passing
2mm and a 250g split was pulverized to better than 85% passing 75 micron mesh. Gold was tested by
fire assay with atomic absorption finish on 30g nominal samples (ALS method Au-AA23). An additional
34 elements were tested by ICP-AES using a four-acid digestion (ALS method ME-ICP61), over-limit
samples for copper were retested using the same technique but with ore grade four acid digestion
and a higher range of detection (method Cu-OG62). Quality assurance and control (“QAQC”) is
maintained at the lab through rigorous use of internal standards, blanks and duplicates.
* All samples collected from the Bananas showing are chip samples collected over a minimum length
of 10 cm. However, sample length data were not available at the time of this news release. For this
reason, samples should be treated as grab samples. Grab samples are selective in nature, therefore,
reported mineralization and assay results may not be representative of a volume of rock.
Qualified Person
Brian G. Thurston, P.Geo., the Company’s CEO and a qualified person as defined by National
Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the
technical information in this news release.
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 10 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’s leadership and advisory teams are 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 glo bal scale. Interra is committed to
sustainable and responsible business activities in line with industry best practices, supportive of all
stakeholders, including the local communities in which it operates. The Company's common shares
are principally listed on the Canadian Stock Exchange under the symbol "IMCX". For more information
on Interra, please visit the Company’s website at www.interracoppercorp.com.
On behalf of the Board of Interra Copper Corp.
Brian Thurston, P.Geo.
Chief Executive Officer and Director
Tel: 778-949-1829
For further information contact:
Kelly Abbott
Investor Relations
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, relating to
the Rip Copper Project, including the Phase One drilling program, the exploration potential thereof,
and the expected satisfaction of the Company’s 2024 and 2025 earn-in obligations 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 associated with possible accidents and other risks associated
with mineral exploration operations, the risk that the Company will encounter unanticipated
geological factors, risks associated with the interpretation of exploration results, the possibility that
the Company may not be able to secure permitting and other governmental clearances necessary to
carry out the Company's exploration plans, the risk that the Company will not be able to raise
sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or
legal changes that might interfere with the Company's business and prospects. 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.