Categories: Base Metals
Topics: General Base Metals

Intrepid Metals (TSX-V: INTR)(OTCQB: IMTCF) CEO Ken Brophy on Hitting Shallow High Grade Mineralization at the Corral Copper Property

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Intrepid Metals — Mr. Ken Brophy. Ken, it's great to have you back on. How are you today, sir?

Ken Brophy: I’m doing great, Gerardo. I hope you're doing well as well.

Gerardo Del Real: Things are well. We talked a bit off-air. We have record-high copper prices and record-high gold prices. It’s a heck of a time to be completing an initial drill program at the Corral Copper Property in Arizona. I would love for you to share with us how the program went and how things are looking. You’ve got to be excited to get assays.

Ken Brophy: Yes, and this being our very first drill program for the company and our Corral Copper project in particular, it has delivered what we really had hoped it would deliver. And that is significant, shallow, high-grade mineralization. 

As you touched upon, we put out some news today where we're wrapping up our phase-one drill program, which included almost 5,000 meters of drilling within a 3.5-km trend of our private lands, which are very important. 

Anytime you can put news out there that includes almost 200 meters of 0.83% copper equivalency, or even 105 meters of 1.17% copper alone, catches a lot of people's attention. And we've had a lot of inbound congratulations throughout this drill program.

I often like to say that we're just scratching the surface, which is true, noting that our mineralization is starting right at 10 to 20 meters below surface. We've had a tremendously successful drill program. 

We're going to take all of this important data where we've done some field mapping and where we're looking at some historical geophysics, and we're going to use all of this information to plan for a phase-two drill program later this year.

Gerardo Del Real: It's an exciting time. You have to be excited by the 3.5 by 1.5 km copper-gold-silver-zinc mineralized footprint. That's pretty significant. Can you touch on the potential scale here as you drill this thing out?

Ken Brophy: Yes, that 3.5-km trend of mineralization that we've been able to validate throughout this first-phase drill program, because out of these 25 holes, we've tested all along that 3.5-km trend. And once again, it's important to point out that that's all within our private lands. We have 1,800 acres of private land, combined, of patented mining claims and additional private surface rights. 

From a permitting standpoint, and just to give you an example, when we were drilling within our patented mining claims, we just had to call the county and let them know what our plans were. Within the private lands that had some BLM mineral claims, which is the Ringo Zone, we own the surface rights over top. It was just a few weeks, and we had our drill approval. So that's really important.

The key takeaway here is that the 3.5-km trend is less than 15% of our entire property. Just within Corral Copper alone, we have tremendous upside to really scale this project and put it on the map as a new district-scale opportunity. So we're really excited about Corral Copper.

I should also touch on our Tombstone South project, which is a really exciting opportunity. It’s only 35 kilometers away, and the large chargeability anomaly is just waiting to be drilled. 

If we hit what I expect we'll hit there, it will be a game-changer for the company. And noting that Corral Copper and Tombstone South are fairly close to one another, we should be able to drill both of those projects later this year.

Gerardo Del Real: It's a lot of catalysts. It's the perfect time for it. You're hitting the sweet-spot of this cycle. I'm really looking forward to further results. Anything else to add to that, Ken?

Ken Brophy: I think that while we did just wrap up our drill program, we certainly have more news to come with regard to additional drill results from Corral Copper. We're going to continue to try to feed the market more news. 

And I couldn't agree more… I think it's a great time to be invested in a company such as Intrepid Metals. The silver prices will reflect nicely towards our Tombstone South project. And certainly, the copper and gold prices for our Corral Copper project really stand out. 

One important element I touched on is our copper equivalency, and that's primarily due to the high gold grades that we have. Within that 105 meters of 1.17% copper, it also included 0.55 grams per tonne gold over that 105 meters. And we certainly had some other high-grade gold within that system. 

So, in terms of the copper equivalency, we need to include it just because of the high value of the gold that we're seeing within our system. We’re really excited to have those beneficial commodity prices as a tailwind to what is a really exciting development opportunity for us that we have at Corral Copper.

Gerardo Del Real: Ken, I appreciate the update, and I'm looking forward to having you back on. I suspect we'll be chatting often. Let’s chat again soon.

Ken Brophy: Thanks, Gerardo. Have a great day, sir.

Gerardo Del Real: Alright, cheers.