Interra Copper Announces Tres Marias Drilling Results

Interra Copper Announces Tres Marias Drilling Results

Interra Copper Corp. (CSE: IMCX) (OTCQB: IMIMF) (FSE: 3MX) ("Interra" or the "Company") The Company provides the following summary of its exploration and drilling activities at its 16,080 Ha Tres Marías Copper Project ("Tres Marías" or the "Project"), located approximately 18 km southwest of the city of Calama in the Antofagasta Region of Chile. The Phase 1 drilling program was completed in June 2023.

Six (6) RC holes totalling 1,896 meters were completed and processed chip samples were sent to ALS Global in Santiago for analysis. This drilling represents testing of the first target and roughly 1/5th of the initially planned exploration program, which was planned to consist of a total of 10,500 m of reverse circulation ("RC") drilling across three target areas within 16,080 ha of contiguous concessions. The objective of the program is to test a number of targets identified to date, utilizing reprocessed historical airborne ZTEM and 3D inversion of this airborne data, a 504 km UAV high-resolution magnetic survey, and a 29 line-km GDAS 3D induced polarization survey completed by Alto Verde Copper.

The initial phase of drilling of the combined geological-geophysical-geochemical anomalies did not intersect substantial economic copper mineralization, however the assays highlighted several important anomalies in the six-hole program. Most notably hole TM23R-003 (Eastern Zone - Figure 1), intersected a dacite dyke with moderate quartz-sericite alteration, along with veinlets of hyaline quartz with halos of sericite and grey sulphides, and very thin and irregular veinlets of pyrite, grey sulphides, and specific pyrite-molybdenite sections. Numerous geochemical anomalies were noted, including:

  • Zinc: average of 350 ppm Zn and a peaks of 1450 ppm Zn;

  • Lead: average of 178 ppm Pb and a peak of 1960 ppm Pb;

  • Molybdenum: average of 12 ppm Mo and a peak of 180 ppm Mo;

  • Copper: anomalous concentrations and a peak of 211 ppm Cu; and,

  • Silver: anomalous concentrations and a peak of 6.7 ppm (g/t) Ag.

The results from hole TM23R-003 are interpreted to potentially represent a distal base metal front emanating from a porphyry copper system and may warrant follow-up work. Figure 1, provides an overview of the Eastern Zone with drill hole locations (Interra 2023 and historical) with respect to outlines of deeper intrusives, largely interpreted from geophysics and field observations, and the two main north-south structures (Guacate East and West).

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Figure 1. Interra 2023 RC drill hole collar locations, historical Freeport-McMoran Exploration Corporation ("Freeport") drill hole collar locations, interpreted intrusives from geophysics, and structural geology overlain on MVI geophysical results, Eastern Zone, Tres Marías Copper Project, Chile.

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Principal Components Analysis ("PCA") of the geochemical results from drill hole TM23R-003 suggest a strong association with Pb-Zn-Cd-Mo-Re-Ag-S, which is interpreted as anomalous mineralization resulting from a distal copper system, such as that of a porphyry. Figure 2, shows the results of the PCA along with several notable intersections from hole TM23R-003.

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Figure 2. Selected intersections from RC chip assays (left) and results of the Principal Components Analysis (right) completed on drill hole TM23R-003.

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Two of the six drill holes, TM23R-001 and TM23R-004, returned some localized anomalous concentrations in Pb, Zn, Cu and lesser Ag.

Drill holes TM23R-002, TM23R-005, and TM23R-006, did not return and significant values but were elevated in zinc over the entire length of each hole.

Historical Drill Programs

Among the results of previous (historic) drilling, are selected drill intercept highlights:

Drillhole TMD-15-02 intercepted a 2.4 m mineralized manto between 263 and 265.4m with abundant covellite in thick nodules, which returned grade sof 3.1% Cu and 19 ppm Ag.

Drillhole TMD-15-05 intersected a broad zone of anomalous Zn-Pb mineralization with an average of 1,162 ppm Zn and 363 ppm Pb. Between 214 m and 348 m, a hydrothermal breccia was cut with the margins returning values of 12m @ 0.5% Zn - 0.11% Pb and 22m @ 0.16% Zn - 0.07% Pb respectively following which the hole encountered a dacite-andesitic porphyry until the end of hole at 386.50 meters.

Drillhole TMRC-18-01 intercepted 4 meters @ 4.5% Cu and 121.5 ppm Ag in a manto from + 218-222 meters.

Drillhole TMRC-18-02 intercepted constant Zn and Pb mineralization, 476m @ 662 ppm Zn and 355 ppm Pb, includes 238-272m 34m @ 0.31% Zn and 0.26% Pb.

Follow-up Work

Based on initial analysis of the results including historic drilling - the highest priority area is interpreted to occur in the Eastern Zone between Interra drill-hole TM23R-003 and historical drill holes TMD-15-02, TMD-15-05, and TRMC-18-01 completed by Freeport an area of about 1.5 km x 0.7 km (Figure 3). Interra remains optimistic and aims to secure funding to continue work on its Tres Marias property and other Chilean projects. The company has 3 years remaining on the Tres Marias acquisition terms, and up to 8,000 meters of drilling if warranted as per the initial exploration plan for the Project. Figures 3 and 4 illustrate the next priority target for work on the Tres Marias Project.

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Figure 3. Priority Target and Generalized geology and structures of the Eastern Zone with locations of historical (black), current (blue), and planned (red) drill hole collars.

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Figure 4. "Eastern Zone" Target - Section view of simplified geology, structures and interpreted Manto-style feeder mineralization toward the east.

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Laboratory Procedures and QA/QC

In total, 888 chip samples were collected from the six RC drill holes and analyzed in the ALS Global laboratory by multi-acid digestion ICP ME-MS61 + Au ICP 21 method (30 g Fire Assay). The chip sampling interval was systematic at every 2 metres except for 11 composite samples taken over 10 m intervals from holes TM23R-001 (8 samples) and TM23R-006 (3 samples). For the laboratory's respective QA/QC control, duplicate samples (51) were collected every 20 samples, with an alternating high-grade (26) and low-grade (27) copper standard inserted every 20 samples. In addition, a blank (26) was inserted after every high-grade copper standard. A total of 130 standard and control samples were assayed representing approximately 13% of the total 1,029 samples assayed, No samples were sent to a referee laboratory.

Technical Disclosure/Qualified Person

The scientific and technical information in this press release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo., PhD, PMP), Principal Geoscientist and Managing Director at Caracle Creek Chile SpA and an independent consultant and Qualified Person as defined in National Instrument 43-101.

About Interra Copper Corp.

Interra Copper Corp. is focused on building shareholder value through the exploration and development of its portfolio of highly prospective/early-stage exploration copper assets located in Chile S.A. and British Columbia, Canada.

The Company's portfolio includes three copper projects located the Central Volcanic Zone, within a prolific Chilean Copper belt: Tres Marías and Zenaida in the Antofagasta Region, and Pitbull in the Tarapaca Region. The Company now holds a significant land package covering an area of 20,050 ha with the projects situated amongst several of the world's largest mines owned by the largest global mining companies including Glencore, Anglo American, Teck Resources and BHP among others. The Company also owns two exploration projects in Northern British Columbia: Thane and Chuck Creek. The Thane Project is located in the Quesnel Terrane of Northern BC and spans over 20,658 ha with 6 high-priority targets identified demonstrating significant copper and precious metal mineralization.

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 and Interra Copper Corp.

Rick Gittleman
Interim CEO & Chairman

For further information

Katherine Pryde
Investor Relations Contact
investors@interracoppercorp.com

Twitter
LinkedIn

Forward-Looking Information

Forward-Looking Statements: This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to exploration on the Company's Tres Marías Copper Project, and the potential results of exploration work on the project. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the Canadian Securities Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, 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 regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available on SEDAR at www.sedar.com and the Company's website. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180066

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Pursuant to the Agreement, the Company has agreed to settle debt in the amount of $34,723.05 through the issuance of 138,892 units (each, a "Unit") at a deemed price of $0.25 per Unit, whereby each Unit shall be comprised of one (1) common share in the capital of the Company (each a "Share") and one half (1/2) of one (1) Share purchase warrant (each whole, being a "Warrant"). Each Warrant will be convertible into an additional Share (a "Warrant Share") at an exercise price of $0.35 per Warrant Share and will expire on the date that is three (3) years following the date of issuance (the "Expiry Date"). The Expiry Date shall be subject to acceleration where the volume-weighted average trading price of the Company's common shares on the Canadian Securities Exchange is equal to or greater than $0.45 for a continuous 30-day period at any time after that date which is 4 months following their date of issue in which case the Expiry Date of the Warrants shall automatically accelerate and the Warrants will expire on that date which is 30 days after the date on which notice of such acceleration event is provided to the holder.

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Doré Copper Mining Corp. (" Doré Copper ") (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) today announced that it has filed and is in the process of mailing the management information circular (the " Circular ") and related materials for the special meeting (the " Meeting ") of shareholders of Doré Copper (" Doré Copper Shareholders ") to be held December 16, 2024. At the Meeting, Doré Copper Shareholders will be asked to consider and vote on a special resolution (the " Arrangement Resolution ") approving a statutory plan of arrangement (the " Plan of Arrangement ") pursuant to Section 192 of the Canada Business Corporations Act (the " Arrangement "), subject to the terms and conditions of an arrangement agreement dated October 14, 2024 (the " Arrangement Agreement ") entered into among Doré Copper, Cygnus Metals Limited (" Cygnus ") and 1505901 B.C. Ltd., a wholly owned subsidiary of Cygnus, all as more particularly described in the Circular.

The board of directors of Doré Copper (the " Doré Copper Board ") and the special committee of independent directors established by the Doré Copper Board (the " Special Committee ") have unanimously determined that the Arrangement is in the best interests of Doré Copper and that the Arrangement is fair to the Doré Copper Shareholders. The Special Committee and the Doré Copper Board reviewed and considered a significant amount of information and considered a number of factors relating to the Arrangement, with the benefit of advice from Doré Copper's management, and the financial and legal advisors of the Special Committee and the Doré Copper Board. The Special Committee unanimously recommended that the Doré Copper Board recommend to Doré Copper Shareholders that they vote FOR the Arrangement Resolution. The Doré Copper   Board unanimously recommends that Doré Copper   Shareholders vote   FOR   the Arrangement Resolution. See pages 33 to 36 of the Circular for a detailed description of the " Reasons for the Arrangement ".

In accordance with the interim order granted by the Ontario Superior Court of Justice (Commercial List) on November 12, 2024, providing for the calling and holding of the Meeting and other procedural matters relating to the Arrangement, the Arrangement can only proceed if, among other conditions, it receives the approval of not less than two-thirds (66⅔%) of the votes cast on the Arrangement Resolution by Doré Copper Shareholders in person or by proxy at the Meeting and not less than a majority (50% + 1) of the votes cast on the Arrangement Resolution by Doré Copper Shareholders in person or by proxy at the Meeting excluding the votes cast by certain interested or related parties or joint actors of Doré Copper in accordance with the minority approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions .

Under the Arrangement Agreement, the parties have agreed to effect the Arrangement, pursuant to which Cygnus will indirectly acquire all of the issued and outstanding common shares in the capital of Doré Copper (" Doré Copper Shares "), and Doré Copper Shareholders will be entitled to receive, for each Doré Copper Share held immediately prior to the effective time of the Arrangement (the " Effective Time "), 1.8297 fully paid ordinary shares (the " Consideration ") in the capital of Cygnus (each one whole share, a " Cygnus Share ").

As a result of, and immediately following the completion of, the Arrangement, Doré Copper will be an indirect wholly-owned subsidiary of Cygnus and the former Doré Copper Shareholders will be entitled to receive the Consideration for each Doré Copper Share previously held by them immediately prior to the Effective Time (subject to rounding, as provided for in the Plan of Arrangement).

Cygnus has applied for its Cygnus Shares to be listed on the TSX Venture Exchange (the " TSXV "). It is a condition of closing that Cygnus shall have received conditional listing approval from the TSXV to list the Cygnus Shares on the TSXV. Listing of the Cygnus Shares on the TSXV will be subject to Cygnus receiving approval from, and fulfilling all of the minimum listing requirements of, the TSXV.

Meeting and Circular

The Meeting of the Doré Copper Shareholders will be held at the offices of Bennett Jones LLP located at One First Canadian Place, 100 King Street West, Suite 3400, Toronto, Ontario, M5X 1A4 on December 16, 2024 at 12:00 p.m. (Toronto time). Doré Copper Shareholders of record as of the close of business on November 13, 2024 are entitled to receive notice of and to vote at the Meeting. Doré Copper Shareholders are urged to vote before the proxy deadline of 12:00 p.m. (Toronto time) on December 12, 2024.

The Circular provides important information on the Arrangement and related matters, including the background of the Arrangement, the rationale for the recommendations made by the Special Committee and the Doré Copper Board, and voting procedures. Doré Copper Shareholders are urged to read the Circular and its appendices carefully and in their entirety. The Circular is being mailed to Doré Copper Shareholders in compliance with applicable Canadian securities laws. The Circular is available under Doré Copper's profile on SEDAR+ at www.sedarplus.ca and on Doré Copper's website at www.dorecopper.com .

Impact of Canada Post Labour Strike

Due to the ongoing Canada Post labour strike, it is possible that Doré Copper Shareholders may experience a delay in receiving the Circular and related materials in respect of the Meeting. Doré Copper Shareholders are encouraged to access the Circular and related materials electronically as noted above. Registered holders of Doré Copper Shares experiencing a delay in receiving the Circular and related materials may contact Computershare Investor Services Inc. at 1-800-564-6253 to obtain their individual control numbers in order to vote their Doré Copper Shares. Registered holders of Doré Copper Shares are encouraged to vote their Doré Copper Shares via the internet at www.investorvote.com or via telephone at 1-866-732-VOTE (8683). Registered holders of Doré Copper Shares are also encouraged to complete and return letters of transmittal by hand or by courier to ensure the appropriate documents are received in a timely manner. Beneficial holders of Doré Copper Shares experiencing a delay in receiving the Circular and related materials should contact their broker or other intermediary for assistance in obtaining their individual control numbers in order to vote their Doré Copper Shares. Beneficial holders of Doré Copper Shares are encouraged to vote their Doré Copper Shares via the internet at www.proxyvote.com or via telephone at 1-800-474-7493 (English) or 1-800-474-7501 (French). It is recommended that any physical forms of proxy or voting instruction forms be delivered via courier to ensure that they are received in a timely manner.

Registered holders of Doré Copper Shares who wish to exercise their dissent rights in connection with the Arrangement are also cautioned to deliver their written objection to Doré Copper by mail using a method other than Canada Post or by facsimile transmission in accordance with the instructions set forth in the Circular to ensure that they are received in a timely manner.

Other Matters

Agreement with SOQUEM

Further to its news release dated July 3, 2024, on July 2, 2024, Doré Copper issued 1,190,476 Doré Copper Shares to SOQUEM at a deemed price of $0.105 per Doré Copper Share in connection with its acquisition of a 56.41% interest in a group of contiguous claims located immediately north and east of its flagship high-grade Corner Bay copper project in the Chibougamau mining camp.

About Doré Copper Mining Corp.

Doré Copper Mining Corp. aims to be the next copper producer in Québec with an initial production target of +50 million pounds of copper equivalent annually by implementing a hub-and-spoke operation model with multiple high-grade copper-gold assets feeding its centralized Copper Rand mill 1 . Doré Copper has delivered its PEA in May 2022 and is proceeding with a feasibility study. Doré Copper has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe Mann mining camps that has historically produced 1.6 billion pounds of copper and 4.4 million ounces of gold. 2 The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometer radius of Doré Copper's Copper Rand Mill.

About Cygnus Metals

Cygnus Metals Limited (ASX: CY5) is an emerging exploration company focused on advancing the Pontax Lithium Project (earning up to 70%), the Auclair Lithium Project and the Sakami Lithium Project in the world class James Bay lithium district in Québec, Canada. In addition, Cygnus has REE and base metal projects at Bencubbin and Snake Rock in Western Australia. The Cygnus Board of Directors and Technical Management team have a proven track record of substantial exploration success and creating wealth for shareholders and all stakeholders in recent years. Cygnus' tenements range from early-stage exploration areas through to advanced drill-ready targets.

For further information about Doré Copper, please contact:

Ernest Mast Laurie Gaborit
President and Chief Executive Officer Vice President, Investor Relations
Phone: (416) 792-2229 Phone: (416) 219-2049
Email: ernest.mast@dorecopper.com Email: laurie.gaborit@dorecopper.com

Visit: www.dorecopper.com
Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, including, without limitation, statements with respect to the proposed Arrangement and the terms thereof, the completion of the Arrangement, including receipt of all necessary court, shareholder and regulatory approvals and timing thereof, the listing of the Cygnus Shares on the TSXV, and the plans, operations and prospects of Doré Copper and its properties are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the ability to obtain approvals in respect of the Arrangement and to consummate the Arrangement, the ability to obtain approvals for the listing of the Cygnus Shares on the TSXV, integration risks, actual results of current and future exploration activities, benefit of certain technology usage, the ability of prior successes and track record to determine future results, changes in project parameters and/or economic assessments, availability of capital and financing on acceptable terms, general economic, market or business conditions, future prices of metals, uninsured risks, risks relating to estimated costs, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and other exploration or other risks detailed herein and from time to time in the filings made by Doré Copper with securities regulators. Although Doré Copper has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Doré Copper disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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(TheNewswire)

Heritage Mining Ltd.

VANCOUVER, BC TheNewswire - November 19, 2024 Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to announce the claim package expansion at its flagship Drayton Black Lake (" DBL ")  based on experts recommendations Brett Davis and Dr. Gregg Morrison in addition to an update on the ongoing 2024 exploration program over the Ontario Project Portfolio. The Company believes the progress achieved to date represents important milestones for systematic exploration in one of the last underdevelopment greenstone belts in Northwestern Ontario.

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Quetzal Copper Announces Brokered Private Placement Offering to Raise $3.0 Million

Quetzal Copper Announces Brokered Private Placement Offering to Raise $3.0 Million

Quetzal Copper Corp. (TSXV: Q) ("Quetzal" or the "Company") a North American focused copper exploration company is pleased to announce that it has entered into an agreement with Independent Trading Group ("ITG") to act as lead agent and sole bookrunner in connection with a "best efforts" private placement (the "Offering") for aggregate gross proceeds of up to $3,000,000 from the sale of the following:

  • up to 6,666,666 units of the Company (the "Units") at a price of $0.15 per Unit for gross proceeds of up to $1,000,000 from the sale of Units; and
  • up to 10,526,315 common shares of the Company (the "FT Shares", and together with the Units, the "Offered Securities") at a price of $0.19 per FT Share for gross proceeds of up to $2,000,000 from the sale of FT Shares. Each FT Share will be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada).

Each Unit issued under the Offering shall consist of one common share in the capital of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.25 per Common Share for a period of 24 months from the Closing Date (as defined below).

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