Intrepid Metals Corp. (TSXV: INTR | OTC: IMTCF) has entered into a purchase and sale agreement for an additional 22 unpatented lode mining claims (the “Sara Claim Group”) from Clive Bailey, a local landowner, and Arizona-based professional geologist.
The new acquisition adds an additional 472.5 acres (191ha) to the project for a total land package of 8,972 acres (3,631ha).
“We are continuing to build positive relationships with local stakeholders and are very pleased to add another 22 lode mining claims to our Corral Copper Project,” said Ken Brophy, CEO of Intrepid.
“These new claims were identified as an integral part of our expanded land package and had considerable exploration work completed throughout the claim package previously. We look forward to our technical team evaluating all the newly acquired data as part of our continued efforts to unlock the value from the district scale opportunity the Corral Copper Project presents.”
While no recorded diamond drilling is known to have been conducted in the Sara Claim Group, initial exploration has consisted of trenching, grab and chip sampling, mapping, geophysical surveys, and geochemical work. The Sara Claim Group is viewed as a tertiary-aged low-sulphidation system with historical work focused primarily on gold.
Intrepid shall pay the vendor US$10,000 upon closing and shall issue 100,000 common shares for 100% of the Sara Claim Group property. The closing of the acquisition of the Sara Claim Group is subject to the approval of the TSX Venture Exchange. The vendor is arm’s length to the company. Finally, no finder’s fees are payable in connection with the transaction.
To find out more, please visit www.intrepidmetals.com
