Intrepid Metals Highlights Additional High-Grade Shallow Mineralization at Its 100% Controlled Corral Copper Project in Arizona
NEWS RELEASE
Intrepid Metals Highlights Additional High-Grade Shallow Mineralization
at Its 100% Controlled Corral Copper Project in Arizona
• Recently acquired MAN Property hosts 19,449 meters of historical assay data, including
high grade intercepts of:
o 19.0% Cu over 0.46 meters in Hole 28_11
o 12.7% Cu over 1.07 meters in Hole M_05
o 13.0% Cu over 1.22m within 0.73% Cu over 74.98m in Hole M_35
o 8.3% Cu over 1.22m within 2.14% Cu over 38.7m in Hole M_01
• With the addition of the MAN Property, the Corral Copper Project contains a 3km trend of
pre-established mineralization with several high-grade historical diamond drill hole results
October 11, 2023 (TSX-V:INTR) (OTCQB: IMTCF)
VANCOUVER, BRITISH COLUMBIA, Intrepid Metals Corp. (TSX-V:INTR) (OTCQB: IMTCF)
(“Intrepid” or the “Company”) is pleased to announce that it continues its compilation work and drill
planning on its 100% controlled Corral Copper Project, in Cochise County, Arizona, following its recent
option agreement to acquire the MAN Property. The Corral Copper Project area incudes 50,000 metres
(“m”) of historical drilling data, with shallow high-grade mineralization of copper (“Cu”), gold (“Au”) and
silver (“Ag”).
“We continue to be impressed with the near surface, high-grade mineralization within the three-kilometer
trend of our 100% controlled Corral Copper Project,” said Ken Brophy, CEO of Intrepid. “Following the
recent option agreement to acquire the MAN Property, we are planning a drill program and intend to use
the 22,000 historical assays and corresponding drill logs to guide our drill targeting, which includes the
validation of the historical drill results. Most of the three-kilometer mineralized trend occurs within our
patented mining claims, which minimizes permit approvals. The MAN portion of our property is within
Bureau of Land Management (“BLM”) lands, where Intrepid also controls the surface rights which is
advantageous for permitting. None of the historical drill core is available for the Property and new drilling
must be completed to confirm the historical records can be relied upon. Intrepid intends to conduct
Phase I exploration drilling to confirm historical drill intercepts, establish oxidation depths and test
copper, gold and silver grades as well as continuity.”
Page 2 of 4
Figure 1: Plan Map Showing Historical Copper
Values Within the 3km Trend
Figure 2: Cross Section and Long Section
Through the MAN Property Highlighting
Historical Results
Additional historical results* from the recently acquired MAN property include:
• 53.03m at 1.63% Cu, 1.45g/t Au and 2.38g/t Ag (117.35m to 170.38m) including
7.33% Cu, 10.6 g/t Au over 0.36m (132.62m to 132.98m) in Hole 28_08
• 72.03m at 0.75% Cu, 0.34% Au and 14.47 g/t Ag (57.91m to 129.94m) including 7.9% Cu, 0.65
g/t Au and 7.39 g/t Ag over 1.53m (88.39m to 89.92m) in Hole 28_01
• 74.98m at 0.73% Cu (74.98m to 149.96m) including 13% Cu over 1.22m (99.36m to 100.58m)
in Hole M_35
• 106.68m at 0.65% Cu, 0.34 g/t Au and 0.55 g/t Ag (109.73m to 216.41m) including 9.6% Cu,
2.91 g/t Au and 12.67 g/t Ag over 0.34m (121.95m to 122.29m) in Hole 28_09
• 85.04m at 0.61% Cu, 0.34 g/t Au and 0.34 g/t Ag (119m to 204.83m) including 9.15% Cu, 0.54
g/t Au and 0.68 g/t Ag over 1.52m (162.46m to 163.98m) in Hole 28_13
• 158.49m at 0.49% Cu, 0.07 g/t Au, 0.96 g/t Ag (64.01m to 222.5m) including 6.25% Cu over
0.61m (101.96m to 102.57m) in Hole 28_20
• 117.04m at 0.42% Cu, 0.42 g/t Au and 1.4 g/t Ag (79.25m to 196.29m) including 3.42% Cu, 2.39
g/t Au and 28.08 g/t Ag over 1.15m (120.4m to 121.55m) in Hole 28_15
• 38.7m at 2.14% Cu (98.76m to 137.46m) including 8.33% Cu over 1.22m (125.58m to 126.8m)
in Hole M_01
Page 3 of 4
• 9.45m at 2.81% Cu (36.88m to 46.33m) including 12.7% Cu over 1.07 meters (37.49m to
38.40m) in Hole M_05
• 80.47m at 0.37% Cu (0.00m to 80.47m) including 19% Cu over 0.46 meters (36.12m to 36.58m)
in Hole 28_11
Note: * Drill intercepts reported from historical drilling. Composite drill intervals where reported were
calculated using 3-meter composites, 3 meters of internal dilution with minimum grades of 0.2% copper).
All intervals are core lengths, and true thicknesses are yet to be determined. No core remains ,
therefore Intrepid has been unable to independently verify the results or carry out any independent
investigation of the sampling of the historical exploration work. Intrepid considers these historical drill
results relevant, as the Company will use this data as a guide to plan future drill programs. 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.
Additional maps and cross -sections for the Corral Copper Project can be found on our website at:
Intrepid Metals Corp - Corral Copper
About Corral Copper
The Corral Copper Project is a district scale advanced exploration and development opportunity in
Cochise County, Arizona. Corral Copper is located 15 miles east of the famous mining town of
Tombstone and 22 miles north of the historical Bisbee mining camp which has produced more than 8
billion pounds of copper with grades of up to 23% . Production from the Bis bee mining camp is not
necessarily indicative of the mineral potential at the Corral Copper Project. The Corral Copper Project
is made up of the Cave Creek Property, MAN Property, Excelsior Property, and certain other mineral
claims which Intrepid either owns, or has the right to acquire under the terms of option agreements.
The district has a mining history dating back to the late 1800s, with several small mines extracting copper
from the area in the early 1900s, producing several thousand tons with grades up to 9.2% copper ore.
Between 1950 and 2008, various companies explored parts of the district, but the effort was
uncoordinated, non-synergistic and focused on discrete land positions and commodit ies due to the
fragmented ownership. Intrepid has been able to secure data from various sources which provides a
solid foundation in creating geological interpretations and identifying new target areas.
Intrepid is confident that by combining modern expl oration techniques with the historical data it has
consolidated, and implementing a clear focus on responsible development, the Corral Copper Project
can quickly advance towards feasibility level studies. The drill program and exploration plans disclosed
in this press release are subject to Intrepid raising additional financing.
Dr. Chris Osterman, P. Geo, a consultant of the Company, is a Qualified Person (" QP") as defined by
National Instrument 43-101. Dr. Osterman has reviewed and is responsible for the technical information
disclosed in this news release, including the statements with respect to data verification.
About Intrepid Metals Corp.
Intrepid Metals Corp. is a Canadian company focused on exploring for high-grade essential metals such
as copper, silver, lead, and zinc mineral projects in proximity to established mining jurisdictions in
southeastern Arizona, USA. The Company has acquired or has agreements to acqui re several drill
ready projects, including the Corral Copper Project (a district scale advanced exploration and
development opportunity with significant shallow historical drill results ), the Tombstone South Project
(within the historical Tombstone mining district with geological similarities to the Taylor Deposit, which
was purchased for $1.3B in 2018) both of which are located in Cochise County, Arizona and the Mesa
Well Project (located in the Laramide Copper Porphyry Belt in Arizona ). Intrepid has assembled an
exceptional team with considerable experience with exploration, developing, and permitting new
projects within North America. Intrepid is traded on the TSX Venture Exchange (TSX -V) under the
Page 4 of 4
symbol “INTR” and on the OTCQB Venture Market under the symbol “IMTCF”. For more information,
visit www.intrepidmetals.com.
INTREPID METALS CORP.
On behalf of the Company
“Ken Brophy”
CEO
For further information regarding this news release, please contact:
Ken Brophy
CEO
604-681-8030
Caroline Sawamoto
Investor Relations
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this release constitute forward-looking information within the meaning of applicable Canadian securities laws.
Such forward-looking statements relate to: (i) future exploration plans , including the completion of a drill program and Phase I exploration
program at the Corral Copper Project; (ii) details about potential mineralization; (iii) the exploration potential of the Corral Copper Property; (iv)
potential future production;and (v) that the Corral Copper Project can quickly advance towards feasibility level studies.
In certain cases, forward -looking information can be identified by the use of words such as "plans", "expects", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "believes", or variations of such words and phrases or state that cert ain actions, events or
results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives,
assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based
on certain factors and assumptions regarding, among other things, the Company can raise additional financing to continue operations; the
results of exploration activities, expectations and anticipated impact of the COVID-19 outbreak, the TSXV approves the Agreement, commodity
prices, the timing and amount of future exploration and development expenditures, the availability of labour and materials, receipt of and
compliance with necessary regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency
fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these ass umptions to be
reasonable based on information currently available to it, they may prove to be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual resu lts,
performance or achievements of the Company to be mat erially different from any future results, performance or achievements expressed or
implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including
risks relating to the ability to access infrastructure, risks relating to the failure to access financing, risks relating to changes in commodity prices,
risks related to current global financial conditions, risks related to current global financial conditions and the impact of COVID-19 on the
Company’s business, reliance on key personnel, operational risks inherent in the conduct of exploration and development activities, including
the risk of accidents, labour disputes and cave-ins, regulatory risks including the risk that permits may not be obtained in a timely fashion or at
all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, envir onmental risks and the
additional risks identified in the “Risk Factors” section of the Company’s reports and filings with applicable Canadian securities regulators.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from
those described in forward -looking information, there may be other factors that cause actions, events or results not to be as anticipated,
estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information
is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation
to publicly update or revise any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.