Interra Copper (CSE:IMCX, OTCQB:IMIMF, FRA:3MX) explores prolific assets in Chile and Canada, both Tier-1 jurisdictions with mining-friendly regulations, existing infrastructure and skilled local workforces.
After merging with Alto Verde Copper Inc., Interra Copper now focuses on three Chilean copper assets: Tres Marias, Pitbull and Zenaida. The project's proximity to world-class copper mines is a strong indication of what's possible with the new projects.
The company’s new flagship asset is the Chilean Tres Marias copper project. This mid-stage project covers 16,250 hectares and is 25 kilometers north of BHP’s Spence Mine. Historical exploration of the asset demonstrates high-grade copper deposits, with drill results returning up to 4.5 percent copper at 4 meters. The other two Chilean assets - Pitbull and Zenaida - are near-term exploration stage assets.
Interra’s properties in British Columbia, Canada, demonstrate significant potential to increase shareholder value as they are explored. The Thane project contains six areas with significant copper mineralization, some with high-grade silver and gold. The Chuck Creek asset also has historical silt sample concentrations up to a significant 58,600 parts per billion (ppb) gold.
This Interra Copper profile is part of a paid investor education campaign.*
Interra Copper Corp. (CSE: IMCX) (OTCQB: IMIMF) (FSE: 3MX) ("Interra" or the "Company") is pleased to provide details of the first phase of the planned 2024 exploration program at the Thane Copper-Gold Project (the "Project" or "Thane") in North Central British Columbia.
THANE PROJECT HIGHLIGHTS
Visit Interra's current presentation for further detail information about Thane Project: https://interracoppercorp.com/site/assets/presentation
CURRENT WORK - HIGH-RESOULTION MULTISPECTRAL ANALYSIS:
In Q2 Interra purchased high resolution satellite imagery and topographic data and acquired additional multispectral imagery data to support planned target development. ALS GoldSpot have been retained to provide advanced processing and mineral mapping of the altered and mineralized zones using proprietary clustering algorithms to support geological observations. This work is expected to dramatically increase the efficiency and success rate of the 2024 field work.
THANE 2024 FIELD PROGRAM:
The 2024 exploration program is expected to be completed in two phases, an initial field level mineral system review completed by senior porphyry specialists in early July followed by a focussed alteration and mineralization mapping and sampling program in August.
Figure 1 - Six Copper-Gold mineralized centres (Red) across interpreted alteration footprint (Orange)
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The 2024 field program will advance the six main target areas identified to date, visit additional peripheral target zones, determine the distribution of prospective host rocks, identify and define the alteration footprints and paragenesis, characterize the known mineralization in the context of current global alkalic porphyry research and district understanding, and design any additional geophysical and geochemical surveys required in advance of drilling. The expected outcome of the programs is to provide compelling, optimized targets for future discovery drilling at Thane.
Technical information contained within this news release has been reviewed and approved by Phil Smerchanski, M.Econ.Geol., P.Geo., an advisor to the Company and a qualified person as defined by National Instrument 43-101 policy.
About Interra Copper Corp.
Interra Copper Corp. is an exploration and development company focused on creating shareholder value through the advancement of its current interests that include the Thane Copper-Gold Project in north-central British Columbia, and the Rip Copper-Molybdenum Project in north-west British Columbia. Utilizing its heavily experienced leadership team, Interra Copper continues to source and evaluate assets and projects to further generate shareholder value.
The Thane property covers approximately 206 km2 and is located within the prolific Quesnel Copper-Gold porphyry Terrane of north-central British Columbia, midway between the previously operated open pit Kemess Mine and the currently operating Mount Milligan mine. The Thane Project includes several highly prospective mineralized areas identified to date, including the Cathedral, Gail/Cirque, Aten, CJL, Mat and Lake targets that contain high-grade copper-gold mineralization which has only been partially tested by limited exploration. Interra Copper Corp. would like to acknowledge that its Thane Project is located in the traditional territories of Takla Nation and Tsay Keh Dene Nation.
The Rip Project is under option for up to an 80% earn in by Interra Copper, over a multi-year period. The property is 47 km2 in area and located in the prolific Stikine Terrane, in a Late Cretaceous host that contains significant Cu-Mo Porphyry deposits. Historical Induced Polarization (IP) geophysics has outlined a zone of high chargeability, coincident with the strong quartz sericite-pyrite alteration interpreted to suggest the potential of a mineralized porphyry alteration system at depth.
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 of Interra Copper Corp.
"Rick Gittleman"
President, CEO & Chairman
For further information contact:
Katherine Pryde
Investor Relations
+1 (778) 949-1829
investors@interracoppercorp.com
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, statements relating to the closing of the Private Placement, the receipt of all necessary regulatory and other approvals, the use of proceeds from the Private Placement, and the revolving credit facility, including the terms thereof, 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 related to the Company receiving all approvals necessary for the completion of the Private Placement and revolving credit facility and the timing thereof. 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.
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Interra Copper Corp. (CSE: IMCX) (OTCQB: IMIMF) (FSE: 3MX) ("Interra" or the "Company") is pleased to provide detail of the first phase exploration program at the Rip Copper Project (the "Project" or "Rip") in the Stikine region of British Columbia. The Rip Project is situated approximately 33 km northeast of Imperial Metals' past producing Huckleberry copper-molybdenum ("Cu-Mo") mine (see Figure 1), which is presently on care and maintenance. Imperial Metals Corporation is exploring Huckleberry and its surrounding claims for additional Cu-Mo resources.
In late 2023, the Company first announced its option agreement with ArcWest Exploration Inc. ("ArcWest") to acquire an 80% interest in ArcWest's Rip Cu-Mo project. Interra can earn the first tier of its interest in the project by completing staged exploration work totalling C$2.0 million and direct payment of C$100,000 and annual share payments over 4 years until end of 2027. Interra is currently funded for, and anticipates, it will meet and likely exceed its 2024 and 2025 obligations for the earn-in of C$300,000 and C$500,000 in expenditures respectively with the budget outlined in this 2 stage program. The initial program is staged into 2 work phases: 1) A geophysical program to define drill targets, commencing in late April and; 2) A diamond drilling program tentatively scheduled for Q3/Q4 of 2024.
The stage 1 exploration program consists of an airborne magnetic survey flown by Precision Geosurveys followed by a 3D-IP survey to be completed by DIAS Geophysical The 3D-IP survey is designed to further delineate and potentially expand upon a historical chargeability anomaly identified on the project by Kennco in the late 1970s, as shown in Figure 2.
Shallow percussion drilling of this chargeability anomaly by Kennco intersected porphyry copper style alteration and anomalous Cu-Mo mineralization over a broad area. A lone diamond drill hole intersected anomalous Cu (0.07%) and Mo (0.005%) over 74m in strongly quartz-sericite-pyrite ("QSP") altered volcanic rocks cut by late feldspar porphyry and mineralized quartz diorite dykes; the bottom 64m consists of intrusive clast-rich polymictic breccia cut by abundant pyrite, gypsum and quartz veins with local secondary biotite. QSP, intermediate argillic ("IA") and propylitic alteration predominate in the holes, suggesting that the Kennco holes only tested the upper levels of a shallowly eroded porphyry Cu-Mo system.
Figure 1 - Rip Regional Google Earth Map Image of Satellite Photo
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https://images.newsfilecorp.com/files/7923/206939_2cc7675014a13a07_002full.jpg
Potential therefore exists at Rip for the discovery an underlying Cu-Mo mineralized potassic core. The upcoming geophysical program has a much greater survey area than that of the historical surveys, and as such, will play a key role in evaluating the depth potential of the Rip porphyry Cu-Mo system. The airborne magnetic survey is estimated to commence in late April, with the 3D-IP survey estimated to commence in May/June. Details of this survey are as shown in Figure 3.
Interra looks forward to the results of our programs in conjunction with our partners, ArcWest, and the recently rejuvenated copper and precious metals markets. Updates are anticipated to be every couple of months throughout the exploration season.
Figure 2 - Rip chargeability high from historical survey and alteration from percussion drill holes
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https://images.newsfilecorp.com/files/7923/206939_interrafig2.jpg
Figure 3 - Transmitter and receiver stations for the 2024 3D-IP survey (Dias Geophysical). A chargeability anomaly delineated by a historical IP survey is in red.
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https://images.newsfilecorp.com/files/7923/206939_2cc7675014a13a07_004full.jpg
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 6 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 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 of Interra Copper Corp.
"Rick Gittleman"
President, CEO & Chairman
For further information contact:
Katherine Pryde
Investor Relations
+1 (778) 949-1829
investors@interracoppercorp.com
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, statements relating to the closing of the Private Placement, the receipt of all necessary regulatory and other approvals, the use of proceeds from the Private Placement, and the revolving credit facility, including the terms thereof, 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 related to the Company receiving all approvals necessary for the completion of the Private Placement and revolving credit facility and the timing thereof. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206939
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Interra Copper Corp. (CSE: IMCX) (OTCQB: IMIMF) (FSE: 3MX) ("Interra" or the "Company") is pleased to issue the following letter from its Chairman, President & Chief Executive Officer, Rick Gittleman, updating shareholders on the Company's plans for unlocking value from its assets while executing on a prudent yet strategic work plan in 2024.
To our fellow shareholders of Interra Copper Corp.,
I'm writing to you today with great enthusiasm for a busy and productive 2024. Over the year, Interra's leadership will be focused on maximizing shareholder value through exploration on multiple projects and initiatives. The team has spent time prioritizing and re-evaluating the Company's projects - re-interpreting data to identify the best targets and regions within those projects. The overall goal was to determine optimal exploration programs and to also eliminate non-productive assets and costs that are generating no real value for the Company.
We ended 2023 on a positive note - closing on a multi-round non-brokered flow-through private placement financing raising C$1.14 million in December 2023 and positioning the Company for near term exploration work in British Columbia. We are especially excited to put this money to work and commence exploration at the Rip Copper-Molybdenum Project, the newest addition to our exploration assets. In December 2023, in connection with the Rip Project, we acquired an option for up to an 80% earn-in and joint venture agreement with ArcWest Exploration Inc. Rip's geological attributes make a compelling case for prioritized exploration. The fully permitted exploration project is located in central British Columbia (BC), an established mining region on Canada's west coast, and situated in a prolific belt of Late Cretaceous intrusions (Bulkley Plutonic Suite), host to numerous past producing mines and well-known Copper and Molybdenum deposits, such as Huckelberry, Endako, Granisle and Granduc.
Together with our partner, ArcWest, we have begun to develop a significant exploration plan for the Rip Project. New work, completed in late 2023, included a modest till cover geochemical sampling program. Follow-up work to aid with drill target definition will include a drone supported high resolution magnetic survey in addition to a 3D Induced Polarization survey this summer. The Rip technical committee is also currently in the process of finalizing options and costs for a modest drill program based on an assumption of success with the early exploration. Interra has flow-through qualified CEE "Canadian Exploration Expenses" funds available to support both of our BC projects, with funds not going to Rip in 2024 to be dedicated to our other exciting BC porphyry project, the Thane Project.
Our 100% owned Thane Project is a district scale copper-gold project covering a 20,658-hectare concession within the Quesnel Terrane in Northern British Columbia. The Quesnel Terrane is a prolific porphyry belt with significant copper, gold, silver, molybdenum mineralization. Thane sits amongst existing mines and other known significant deposits, such as Centerra Gold's Mt. Milligan Mine and Kemess North Deposits, North-west Copper's Kwanika and Stardust and Pacific Ridge's Kliyul Deposits and the Company classifies it as underexplored. Six mineralized copper-gold target areas have been identified to date and in late 2023 Interra engaged in an independent review to re-assess past work and re-interpret the project data with a view to an integrated life of project dataset and a new strategy for discovery. Our consultant has extensive and relevant experience with Northern Cordillera copper-gold systems both as a senior exploration specialist with major mining companies and with specific direct experience in the district surrounding Thane Project as a technical adviser on the same style of deposits Thane has the potential to host.
Based upon the results of the review, we are anticipating work contemplated for 2024 will include both ortho-imagery and high-resolution topographical surveys to support field reviews and targeted rock geochemistry to help vector towards mineral centres. This work will be focused on maximizing the use of previously invested data and ensuring a well thought out systematic discovery program can be developed for the next phase of work. This next stage of work is expected to include detailed magnetic geophysical surveys and focused geological mapping of the mineralization and alteration of specific copper-gold target zones to prepare for discovery drilling.
Given the large size of the property and multiple mineral centres identified to date, Interra has also begun a search for a senior company partner in order to accelerate these plans and provide support to a longer-term discovery strategy to maximize the value of the asset. Exploration plan details for 2024 will be shared with the market in the coming weeks.
While Thane is fully permitted for all planned work in 2024, ahead of this work, we have continued previous discussions with local First Nations representatives to ensure open and transparent communication with the Nations and local communities and to allow for integration of traditional territories. Interra is committed to responsible exploration in the regions in which we operate and we look forward to working closely with local First Nations and partners as we further advance our assets in this region.
Chile has proven to be of decreasing attractiveness especially over the past twelve to eighteen months, culminating with what amounts to a burdensome "tax" on exploration ventures and capital. Management does not see this policy improving anytime soon. Our drilling program at Tres Marias yielded no positive results. Pitbull and Zenaida are greenfield projects in very early stages of exploration which technically rank lower than our BC exploration portfolio. Unfortunately, the government of Chile this year increased significantly the annual claim fees that need to be paid to maintain the concessions; claim fees that amount to unacceptable overhead costs to the Company and that represent a drastic increase from previous years. Accordingly, based upon the results at Tres Marias, the Interra board of directors (Board) has consented to divesting these projects for nominal compensation or to return the claims to the government. Nonetheless, we are very excited about both Rip and Thane. We need to use our resources prudently. Accordingly, these projects will be pursued with much greater focus and resources. We believe that our funds can and must be better spent in jurisdictions like BC, Canada.
Interra anticipates 2024 will be a pivotal year for the Company, both in terms of improving market conditions, and with new discovery focused programs initiating at two projects in British Columbia. With the backdrop of strong metals prices, particularly copper and gold, we look forward to unlocking the potential of our highly prospective exploration assets located in a great jurisdiction. Additionally, consistent with our corporate strategy, the Company continues its search for brownfield and resource-level copper development project opportunities with the potential for high impact. We continue to seek out special opportunities that will prove valuable to the Company and our shareholders.
Finally, and on a personal note, it has been a great pleasure working with my colleagues on the Interra Board and with the Interra management team. I have also been extremely impressed by our shareholders who stand by and support the Company. The support I have received is meaningful to me personally. Originally it was not my intent to take on the role of the Chief Executive Officer on a permanent basis as recently announced, however, the past six months have convinced me that the Interra team and vision is the right one and that the shareholders of Interra need a CEO fully committed to the Company's success. Moreover, I have, along with other Board members, increased our shareholdings in Interra and financially invested in the Company through participating in the recent and current private placements.
Thank you again to you, the shareholders, for your ongoing support coming out of what has been a very tough market. Interra has a very skilled and dedicated leadership team with a long track record of success. We remain committed to creating value through our focused copper-gold discovery programs.
Sincerely,
Rick Gittleman
Chairman of the Board, President & Chief Executive Officer
Interra Copper Corp.
About Interra Copper Corp.
Interra Copper Corp. is focused on building shareholder value through the exploration and development of its portfolio of early-stage exploration copper assets located in British Columbia, Canada and Chile.
The Company's portfolio includes three exploration projects in British Columbia: Thane, Chuck Creek and Rip. The Thane Project located in the Quesnel Terrane of Northern BC spans over 20,658 ha with 6 high-priority targets identified demonstrating significant copper and precious metal mineralization. Chuck Creek is an early-stage exploration project located within the Eagle Bay Assemblage. 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. The Company also owns three copper projects located the Central Volcanic Zone, within a prolific Chilean Copper belt: Tres Marias and Zenaida in Antofagasta Region, and Pitbull in Tarapaca Region.
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 of Interra Copper Corp.
Rick Gittleman
Chairman, President & CEO
For further information contact:
Katherine Pryde
Investor Relations
+1 (778) 949-1829
investors@interracoppercorp.com
Forward-Looking Information
Forward-Looking Statements: This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to the Company's plans on the Thane and Rip Projects, and the potential results of exploration work on the projects, as well as the Company's intent and ability to divest its Chile assets. 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.sedarplus.ca and the Company's website. We seek safe harbor.
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Interra Copper Corp. (CSE: IMCX) (FSE: 3MX) ("Interra" or the "Company") announces that it has entered into a securities for debt settlement agreement dated January 15, 2024 (the "Agreement") with a professional advisor of the Company.
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.
The Agreement and the issuance of the securities thereunder are subject to the approval of the CSE. The securities will be subject to a hold period of four months and one day pursuant to CSE policies and applicable securities laws.
On behalf of the Board of Interra Copper Corp.
Rick Gittleman
Interim CEO & Chairman
For further information contact:
Katherine Pryde
Investor Relations
+1 (778) 949-1829
investors@interracoppercorp.com
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, statements relating to the debt settlement transaction and the receipt of all necessary regulatory and other approvals, 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, the ability of the Company to obtain the necessary approvals in connection with the Agreement and the transactions contemplated thereby, the ability to complete exploration work, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. 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.
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Interra Copper Corp. (CSE: IMCX) (FSE: 3MX) ("Interra" or the "Company") announces that, further to its news release of December 19, 2023, the Company has distributed an aggregate of 282,148 units (each, a "Unit") at a deemed price of $0.25 per Unit in connection with a securities for debt settlement agreement dated December 18, 2023 (the "Agreement") with a consultant of the Company, pursuant to which the Company has agreed to settle debt in the amount of $70,537.00.
Each Unit is 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 is 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 is subject to acceleration where the volume-weighted average trading price of the Company's common shares on the CSE is equal to or greater than $0.45 for a continuous 30-day period at any time after that date which is four (4) months following the date of issuance, 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.
The securities issued under the Agreement are subject to a hold period of four months and one day pursuant to CSE policies and applicable securities laws.
On behalf of the Board of Interra Copper Corp.
Rick Gittleman
Interim CEO & Chairman
For further information contact:
Katherine Pryde
Investor Relations
+1 (778) 949-1829
investors@interracoppercorp.com
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, statements relating to the use of Proceeds 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, the ability to complete exploration work, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. 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.
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Vancouver, British Columbia TheNewswire - April 14 th, 2025 Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut") is pleased to announce a non-brokered financing of up to $2,650,000. Crescat Capital Funds LLC ("Crescat") has agreed to make a strategic investment representing a 28.95% ownership of the Company post-funding on a partially diluted basis. Juggernaut welcomes this strategic investment from Crescat Capital and technical support from Dr Quinton Hennigh. Juggernaut's Big One Project is garnering strong interest and support from leading institutions and miners globally, confirming the quality of the newly discovered 11 km Highway of Gold surrounding the Eldorado porphyry system on the Big One property. The exciting discovery is in an area of glacial and snowpack abatement next door to the world-class gold-rich porphyry systems at Newmont Mining's Galore Creek. The Big One Property is a discovery with assays up to 79.01 gt gold (2.54 ozt gold) and 3157.89 gt silver (101.5 ozt silver) from over 200 gold-silver-copper rich polymetallic veins up to 8 m wide and striking for up to 500 m that all remain open at surface. The Big One Project covers 33,693 hectares in a world-class geologic terrane with tremendous additional discovery potential in the heart of the Golden Triangle, British Columbia.
Dr. Quinton Hennigh has taken on the role of special technical advisor to the Company. He is the technical consultant for all Crescat's gold and silver mining investments. Dr. Hennigh is a world-renowned exploration geologist with over 40 years of experience with major gold mining firms, Homestake Mining, Newcrest Mining, Newmont Mining, and Kirkland Lake/Fosterville. In just the last five years, Dr. Hennigh was instrumental in several material discoveries, including Goliath / Surebet, Newfound / Queensway, SCM / Isidorito, Eloro / Iska Iska, Snowline / Valley, Sitka / RC Gold Project, and Tectonic / Flat.
Dr. Hennigh stated , "The Big One gold-silver project has a very similar feel to Goliath's Surebet gold discovery. To date, reconnaissance prospecting and sampling conducted by Juggernaut's exploration team have identified a multitude of multi-meter thick quartz-sulfide veins, many of which have yielded +oz per tonne Au and multi-oz per tonne Ag assays. Early indications suggest there is a genetic association of veins with late-stage magmatism in the area, an association seen at Surebet. This season, Juggernaut has a clear mandate to follow up on these results with detailed mapping and channel sampling, much like Goliath did during the early days of the Surebet discovery. The Company's mission is to get as many targets as possible ready for drill testing either late season or for 2026. I am very eager to see if a new "Surebet" type discovery is in hand.
View Juggernaut videos by Clicking Here .
The charity flow through funding will consist of up to 2,000,000 charity flow through units ("CFT Units"), priced at $0.825 each for gross proceeds of up to $1,650,000. Each CFT Unit will consist of one charity flow-through common share plus one warrant to purchase one non flow-through common share at $0.75 for a sixty month period with a forced conversion at $1.50, 10 consecutive trading days at or above the strike price, callable at management's discretion.
Juggernaut is concurrently raising 2,000,000 hard dollar units priced at $0.50 each for gross proceeds of up to $1,000,000. Each hard dollar unit will consist of one common share plus one warrant at $0.75 for a sixty month period with a forced conversion of $1.50, 10 consecutive trading days at or above the strike price, callable at management's discretion. Upon completion of the charity flow-through and hard dollar financings for a combined total of $2,650,000, which is projected to close on or before May 15th, Crescat will own 28.95% in the company post-financing.
"Gold exploration is all about swinging for the fence. Persevering with a diversified portfolio of great management and technical teams with bold targets is the key. The cool thing about Juggernaut is that it has the same geologic team as the one behind Goliath Resources, where their Surebet gold discovery has already been a home run, based on personal experience. We are happy to invest in Juggernaut and this team. It's time for Big One, which may be the best target yet for this company and team. We are eager to support them with capital for another at-bat." - Kevin Smith, CFA, Founder & CEO of Crescat Capital .
Directors and officers of the company may acquire securities under the placement, which participation would be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
Mr. Dan Stuart, Director, President, and CEO of Juggernaut, states:
"We are pleased to strengthen our relationship, both with Crescat Capital as a strategic investor and Dr. Hennigh as a Special Technical Advisor and investor. I look forward to working with our partners who bring a proven track record of both financial and technical strength. This will enable Juggernaut to unlock the full potential of its assets over the long term, building value for all shareholders. This investment and strategic partnership, coupled with the ongoing support and interest from other globally recognized Institutions and senior miners, is a strong endorsement that clearly demonstrates the significant near-term discovery potential of our 100% controlled properties. Post financing, Juggernaut will have an extremely tight capital structure of just 18,355,169 shares, no debt, and a strong cash position of ~ $3,000,000. As such, we are well-positioned to move forward with our plans of drilling The Big One Discovery. With much anticipation, we look forward to executing the inaugural exploration program and reporting results."
The Company may pay finder's fees of the gross proceeds from the financing in cash, and compensation options on units being sold. This non-brokered private placement is subject to TSX Venture Exchange approval. All shares issued pursuant to this offering and any shares issued pursuant to the exercise of warrants will be subject to a four-month hold period from the closing date.
About Crescat Capital LLC
Crescat is a global macro asset management firm headquartered in Denver, Colorado. Crescat's mission is to grow and protect wealth over the long term by deploying tactical investment themes based on proprietary value-driven equity and macro models. Crescat's goal is industry-leading absolute and risk-adjusted returns over complete business cycles with low correlation to common benchmarks. Over the last several years, Crescat has been building activist stakes in a portfolio of precious metals explorers to express one of its primary macro themes. The company's investment process involves a mix of asset classes and strategies to assist with each client's unique needs and objectives, and includes Global Macro, Long/Short, Large Cap, and Precious Metals funds.
About Juggernaut Exploration Ltd.
Juggernaut Exploration Ltd. is an explorer and generator of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. Its projects are in world-class geological settings and geopolitical safe jurisdictions amenable to Tier 1 mining in Canada. Juggernaut is a member and active supporter of CASERM, an organization representing a collaborative venture between the Colorado School of Mines and Virginia Tech. Juggernaut's key strategic cornerstone shareholder is Crescat Capital.
For more information, please contact
Dan Stuart
President, Director, and Chief Executive Officer
604-559-8028
info@juggernautexploration.com
NEITHER THE 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.
FORWARD LOOKING STATEMENT
Certain disclosures in this release may constitute forward-looking statements that are subject to numerous risks and uncertainties relating to Juggernaut's operations that may cause future results to differ materially from those expressed or implied by those forward-looking statements, including its ability to complete the contemplated private placement. Readers are cautioned not to place undue reliance on these statements. NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE ANY SECURITIES DESCRIBED IN IT.
Copyright (c) 2025 TheNewswire - All rights reserved.
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Copper price, January 2 to April 9, 2025.
Chart via Trading Economics.
The copper price saw significant gains throughout March, breaking through the US$5 mark on March 19. It set a new all-time high of US$5.22 on March 26 before falling to US$5.04 on March 31.
Since then, copper has been under pressure, and the price of the metal plunged to US$4.26 on April 7.
The first quarter of the year was dynamic for copper, but few factors have influenced the market for the base metal more than the threat of tariffs from the US. This possibility has created a wider price gap between London Metal Exchange (LME) copper and Chicago Mercantile Exchange (CME) copper.
According to an ING article published in mid-February, the CME price was more than 10 percent higher than the LME price at the time, prompting traders to begin shifting copper inventories from overseas warehouses into the US.
This movement elevated stockpiles at CME warehouses to over 100,000 metric tons, the highest level since they peaked at 250,000 metric tons during Donald Trump’s first presidency.
Overall, the US relies on copper imports, which account for 45 percent of its domestic consumption. Chile constitutes 35 percent of incoming supply, while Canada contributes 26 percent.
The majority of copper inflows are in the form of refined copper products, which make up 60 percent of US imports.
On February 25, Trump signed an executive order invoking Section 232 of the Trade Expansion Act to initiate an investigation into the impact of copper imports on all forms on national security.
In the order, Trump noted that while the US has ample copper reserves, its smelting and refining capacity has declined. China has become the world’s leading supplier of refined copper, commanding a 50 percent market share.
During a mid-March CRU Group webinar focused on copper, Erik Heimlich, head of base metals at the firm, discussed why Trump may have announced the start of the investigation.
“Their reliance on imports has been growing systematically, and with the closure not so long ago of the Hayden smelter and the Amarillo refinery, that has increased even more,” he said.
Heimlich further explained that Trump may want to use copper tariffs to encourage a resurgence of copper processing in the US based on national security concerns. This point was reiterated by Bryan Billie, policy and geopolitical principal at Benchmark Mineral Intelligence, during a virtual panel held at the beginning of April.
“The big question here is whether US dependencies on copper imports are supposedly compromising national security. That’s the legal rationale behind the investigation,” Billie said.
He also discussed the timeline, noting that Section 232 investigations typically take 270 days to complete, although they can be shorter. While it remains uncertain whether the investigation will lead to tariffs, it could also result in export controls, which might pose additional challenges in global copper markets.
Michael Finch, Benchmark’s head of strategic initiatives, suggested that the review is likely to take weeks rather than months, and could actually bring some relief to the market.
“I think, given that the market now expects the announcement on Section 232 to arrive a bit sooner than previously anticipated, I don’t believe as much copper will be trapped in the US as we progress through the coming quarters ... I think it's part of that trend that we’re witnessing a softening in the copper price,” he said.
Other factors that have affected the copper price include a major power outage in Chile at the end of February.
Chile declared a state of emergency to address the outage, which left more than 8 million homes and a significant portion of the country’s mining operations without power.
The outage resulted from a transmission line failure in the northern part of the country, causing BHP (NYSE:BHP,ASX:BHP,LSE:BHP) to shut down operations at Escondida, the world’s largest copper mine.
Although power was restored in a few days, COMEX copper futures for March rose by 0.9 percent.
An additional supply disruption occurred in March, when Glencore (LSE:GLEN,OTC Pink:GLCNF) declared force majeure and halted copper shipments from its Altonorte operation in Chile. The refinery produces 350,000 metric tons of copper anode annually, and a prolonged shutdown could impact an already tight copper market.
On a fundamental level, the International Copper Study Group provided preliminary data for January’s supply and demand conditions on March 21. In its release, the group outlines an apparent deficit of 19,000 metric tons of refined copper in the first month of the year, down from the 24,000 metric ton deficit reported in January 2024.
Supply and demand for refined copper maintained a balance at the start of the year, with each growing by 1 percent. Supply-side growth was largely constrained by a 14 percent drop in Chilean output.
Mine production experienced a 2 percent increase in January, with 7 percent year-on-year growth from Peru. The ramp up of production at Anglo American’s (LSE: AAL,OTCQX:AAUFK) Quellaveco mine was a key factor.
Additionally, supply increased by 6 percent in the Democratic Republic of Congo due to the expansion of Ivanhoe Mines' (TSX:IVN,OTCQX:IVPAF) Kamoa-Kakula mine. A 3 percent increase in Asian production was offset by a 2 percent decline in North America. Chile also saw a fall of 2.7 percent compared to the same period last year.
Copper is tied closely to the global economy, making this a key factor to watch.
“CRU economists continue to expect global GDP to grow by 2.6 percent in 2025, and refined copper demand to grow by around 2.9 percent in both this and next year, which is actually an increase compared to our previous forecast. So despite the dramatic macro and geopolitical events that we have witnessed over the last few months, the base-case demand narrative for copper remains robust,” Heimlich said in mid-March.
However, he also noted that this base-case scenario is surrounded by uncertainty.
That uncertainty has come to the forefront at the start of Q2. Copper prices fell nearly 20 percent at the beginning of April as the Trump administration announced a new round of base-level and reciprocal tariffs.
Investors experienced a significant selloff as the prospect of a recession became more pronounced.
A recession would substantially impact base metals, including copper, as consumers turn away from big-ticket items like new homes and cars, which require large quantities of these materials
For investors, uncertainty will likely remain for some time. A Section 232 outcome could help stabilize copper, or it could escalate other aspects of a trade war between the US and the rest of the world.
It also remains unclear how long Trump’s tariffs will be in place.
This situation could provide opportunities for investors with an appetite for risk who are looking to make bets. Others may prefer to remain on the sidelines and wait for more clarity on the global trade front.
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Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
