Interra Copper Reports Further Anomalous Cathedral Main Zone Drill Results

Interra Copper Reports Further Anomalous Cathedral Main Zone Drill Results

Interra Copper Corp. (CSE: IMCX) (OTCQB: IMIMF) (FRA: 3MX) (" Interra " or the " Company ") announces further 2021 summer season drilling results from the Cathedral Area at its 20,600 hectare Thane Property, located on traditional territory of the Takla and Tsay Keh Dene First Nations in North-Central B.C.

Results are from drill holes TH21-3, TH21-4, TH21-6, and TH21-12. TH21-3 and TH21-12 were designed to test the southern extent of a 600 square meter IP chargeability along line 5300N within the Cathedral Main zone. TH21-4 was drilled within the Cathedral South zone on the western extent of IP line 5200. TH21-6 was designed to test a broad, hidden, near surface 200 square meter IP chargeability anomaly approximately 350 meters to the east also on line 5300N. Drill holes intersected indicator low grade copper-gold mineralization. Anomalous mineralized intervals of significant copper (Cu), gold (Au), silver (Ag) or molybdenum (Mo) include:

TH21-3

20.65m of 0.08% Copper from 20.10 to 40.75m hole depth.

TH21-4

17.30 m of 0.05% copper, 0.03 ppm gold, 0.2 ppm silver and 7.20 ppm molybdenum from 108.20 to 125.50 m hole depth and a 0.08 Copper Equivalent ("CuEq") CuEq grade.

TH21-6:

36.71 meters of indicator mineralization within an intercept from 120.0 m to 156.71m hole depth, containing 0.07% copper, 0.5 ppm silver and 5.0 ppm molybdenum and a "CuEq" grade of 0.09%.

TH21-12

5.00 meters of indicator mineralization within an intercept from 113.35m to 118.35m hole depth, containing 0.21% copper, 0.07 ppm gold, 0.6 ppm silver and 23.6 ppm molybdenum and a CuEq grade of 0.28%.

See chart in Table 1 for significant mineralized intercepts.

As with all other holes previously released, mineralization styles intersected within the drill holes consist of localized, structurally controlled, quartz-pyrite-chalcopyrite-±arsenopyrite fractures, veins and rare semi-massive mineralization at shallow to moderate depths proximal to diorite-(quartz) monzonite and latite porphyry contacts and south-southwest to south-southeast trending moderate to steeply (40-80°) westerly dipping chloritic shears and dilational breccias.

Continued Drilling within the Cathedral Main and the Valley zones on 300N ( see figure 5) focused on the following;

  • 100 meter step out to the south of TH21-1 and TH21-2 to further test mineralization within the 600 square meter IP chargeability high (up to 34 mV/V with a background of 5 mV/V) within highly K-spar and silica altered and resistive diorite to (quartz) monzonite and (quartz) syenite hosts;
  • test a broad, blind, near surface 200 square meter IP chargeability anomaly approximately 350 meters to the east.

Drilling within the Cathedral South zone on Line 5200N focused on the following;

  • 350m step out to the west of the Cathedral Main zone chargeability targeted the depth extent of north-south trending, west dipping sheeted-stockwork actinolite-magnetite-pyrite-chalcopyrite mineralization and the potential for porphyry related potassic alteration and mineralization at depth below pervasive surficial sodic to sodic-calcic alteration within an associated chargeability low.

A plan map and cross section of these holes with drill results are included below. See Figure 5 for plan view of relevant drill holes, and Figures 6 through 8 for cross-section view of the drill holes illustrating mineralized intercepts.

Interra's goals at the Cathedral Main, Cathedral South, and Valley Areas in 2021 included:

  • confirming and expanding hidden copper and gold mineralization to the south, east, west and at depth from previous surface exploration programs;
  • testing near sub-surface chargeability and resistive high and deeper resistive low targeted areas observed within the 2019 and 2020 IP programs; and
  • drilling angled holes across interpreted porphyry related alteration and associated mineralization and structural zones.

A table accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2f13b3d6-7aca-48cb-8914-fc1ac913f987

1. True widths of the reported mineralized intervals have not been determined.

2. Assumptions used in USD for the copper equivalent calculation were metal prices of $3.25/lb. Copper, $1,650/oz Gold, $20/oz Silver, and USD $40/ lb. Molybdenum. Recovery is assumed to be 100% / even par given no current metallurgical testing at Thane Property to date. The following equation was used to calculate copper equivalence: CuEq = Copper (%) + (Gold (g/t) x 0.74) + (Silver (g/t) x 0.0090) + (Molybdenum (ppm) x 0.0006)

Interra's Thane Property summer drill program results to date have confirmed:

  • mineralization and associated alteration within the reported intervals above are hosted within the Thane Creek diorite (207 and 194Ma) and the Duckling Creek monzonite to syenite (182 and 175Ma) intrusive phases of the Hogem Batholith;
  • porphyry related K-spar, lessor albite alteration and structurally controlled quartz-sulphide vein style mineralization is observed throughout the Cathedral Area;
  • late phase tourmaline-quartz-pyrite veining and associated sericitic alteration may be potentially related to an overprinting upper alkalic-cap;
  • Copper-gold mineralization is coincident with near sub-surface, sub-vertical to easterly dipping areas of moderate to high chargeability observed within the 2019 and 2020 IP programs;
  • sub-vertical to westerly dipping resistive areas observed within the 2019 and 2020 IP programs appear associated with increased K-spar-quartz±albite alteration and silicified, interpreted south-southeasterly trending sub-vertical and shallow westerly dipping chloritic shear structures;
  • sulphides of pyrite, chalcopyrite, molybdenite and localized arsenopyrite and bornite occur as quartz-sulphide veins (Figure 1), fractures and disseminations proximal to intrusive contacts (Figure 2) localized magnetite veins and breccias (Figure 3), and within silica±carbonate (calcite) healed and brecciated south-southeasterly trending subvertical to westerly dipping shear structures (Figure 4) proximal to intrusive contact margins;
  • increased copper and gold grades on surface samples are frequently observed proximal to mapped diorite-(quartz) monzonite sheared contact margins
  • both sulphides and areas with increased veining, brecciation and replacement magnetite are noted to correlate with areas of high chargeability and increased magnetic intensity within airborne magnetics;
  • copper and gold mineralization at depth is at reduced grades to samples collected from the surface, which may be due to secondary supergene enrichment of the surface samples; and
  • at least one phase of mineralization within Thane Creek and Duckling Creek suites of rocks may be related to a later intrusive phase within the batholith.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/7c108173-a566-418f-a37e-af2b38c5d048

https://www.globenewswire.com/NewsRoom/AttachmentNg/164877d8-9e2d-4360-a3b8-875a9daaa13b

https://www.globenewswire.com/NewsRoom/AttachmentNg/8b8e79b7-de5a-4c01-9ca1-0b4e9c46aa3c

https://www.globenewswire.com/NewsRoom/AttachmentNg/85cd9f12-2787-4771-8d2a-c89a160dfd78

https://www.globenewswire.com/NewsRoom/AttachmentNg/bf884477-b766-41b5-8c73-d777898d5b75

https://www.globenewswire.com/NewsRoom/AttachmentNg/cdaedcb1-7983-4439-b8ca-4c8d5985344b

https://www.globenewswire.com/NewsRoom/AttachmentNg/2f89adfc-1cc9-4a70-b7be-2ac4d23a29bf

https://www.globenewswire.com/NewsRoom/AttachmentNg/4fb16892-5772-4b6b-a6ff-391f325f8182

The scientific and technical information disclosed in this news release was reviewed, verified, and approved by Christopher O. Naas, P. Geo., COO of Interra Copper Corp, who is a "Qualified Person" as defined in N.I. 43-101 regulations.

ON BEHALF OF Interra Copper CORP.

Jason Nickel, P.Eng.
Chief Executive Officer
Telephone: +1-604-754-7986
Email: CEO@interracopper.com

INVESTOR RELATIONS:

Email: invest@interracopper.com
Telephone: +1-604-588-2110
Website: https://interracopper.com

ABOUT Interra Copper CORP.

Interra is a junior exploration and development company focused on creating shareholder value through the advancements of its current assets that include the Thane Property in north-central British Columbia. Utilizing its heavily experienced management team, Interra continues to source and evaluate assets to further generate shareholder value.

The Thane Property covers approximately 206 km 2 (50,904 acres) and is located in the Quesnel Terrane geological belt of north-central British Columbia, midway between the previously-operated open pit Kemess Mine and the current open pit Mount Milligan mine, both two copper-gold porphyry deposits. The Thane Property includes several highly prospective mineralized areas identified to date, including the ‘Cathedral Area' on which the Company's exploration is currently focused.

Forward-Looking Statements: This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to further exploration on the Company's Thane Property, the submission of core samples and receipt of assays thereof. 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 through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

IMCX:CC
Interra Copper

Interra Copper Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Interra Copper (CSE:IMCX)

Interra Copper


Keep reading...Show less
Interra Copper Issues Letter to Shareholders

Interra Copper Issues Letter to Shareholders

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.,

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Interra Copper Announces Securities for Debt Settlement

Interra Copper Announces Securities for Debt Settlement

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.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Interra Copper Announces Distribution of Securities for Debt Settlement

Interra Copper Announces Distribution of Securities for Debt Settlement

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.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Interra Copper Closes Final Round of Flow-Through Private Placement Financing

Interra Copper Closes Final Round of Flow-Through Private Placement Financing

Interra Copper Corp. (CSE: IMCX) (FSE: 3MX) ("Interra" or the "Company") announces that, further to its news releases of December 7th, 15th, and 19th, 2023, it has closed the final round of its flow-through private placement financing issuing an aggregate of 880,000 flow-through shares of the Company (the "FT Shares", and each, an "FT Share") at a price of $0.29 per FT Share for aggregate gross proceeds of $255,200 (the "Final Round"). This Final Round was part of a larger offering, of which the first round closed December 15, 2023, at which time an aggregate of 3,041,397 flow-through shares of the Company were issued generating proceeds of $882,005 (the "First Round"). Together, the First Round and Final Round issuances have raised an aggregate of $1,137,205 in gross proceeds (the "Proceeds").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Interra Copper Announces Additional Flow-Through Share Issuances and Securities for Debt Settlement

Interra Copper Announces Additional Flow-Through Share Issuances and Securities for Debt Settlement

Interra Copper Corp. (CSE: IMCX) (FSE: 3MX) ("Interra" or the "Company") announces that, further to its news releases of December 7, 2023, and December 15, 2023, and due to additional demand for flow-through shares of the Company (each, an "FT Share"), the Company intends to issue a further 880,000 FT Shares at a price of $0.29 per FT Share on a non-brokered private placement basis for aggregate gross proceeds of $255,200 (the "Private Placement").

There are no warrants associated with the FT Shares and, subject to the receipt of all necessary regulatory and other approvals, the Company anticipates closing the Private Placement prior to yearend.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Forum Commences Mobilization for 10,000 Metre Drill Program at the Aberdeen Uranium Project, Thelon Basin, Nunavut

Forum Commences Mobilization for 10,000 Metre Drill Program at the Aberdeen Uranium Project, Thelon Basin, Nunavut

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") announces it has commenced mobilization of its camp, fuel, equipment and second drill to its camp location on the Aberdeen Uranium Project, located adjacent to Orano's 133 million pound Kiggavik uranium deposit in the Thelon Basin, Nunavut. Forum plans a 10,000 metre drill program just two months away in June to follow-up on its successful drill program in 2023. Four drill holes into the Tatiggaq deposit intersected up to 2.25% U3O8 over 11.1 metres over a 200-metre strike length. The structure hosting uranium mineralization extends for 1.5 kilometres within a highly altered uranium mineralized system.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Copper bars.

Copper Crunch Coming as Demand Rises and Mine Supply Falls Short

Since the advent of electricity, copper has played an essential role in energy generation and transmission. It will be similarly unreplaceable as the world moves away from fossil fuels to more sustainable sources of energy.

Pierre Lassonde, founder and chair emeritus of Franco-Nevada (TSX:FNV,NYSE:FNV), emphasized this during the "Where Will the Money Come From?" panel at the Prospectors & Developers Association of Canada (PDAC) convention.

“Copper is required for everything, and today 80 percent of terminal energy is carbon based and only 20 percent is electricity," he said. "If we want a green world, that has to be flipped around, where 80 percent of terminal energy has to be electricity. And the metal that carries electricity is copper in every which way. That is the key metal."

Keep reading...Show less
Avrupa Minerals CEO Paul Kuhn

Avrupa Minerals CEO Eyes Joint Ventures for VMS Projects in Europe

Avrupa Minerals (TSXV:AVU,OTC Pink:AVPMF,FWB:8AM) has achieved exploration milestones at the fully funded Alvalade copper-zinc volcanogenic massive sulfide project in Portugal and the Slivova gold project in Kosovo. CEO Paul Kuhn is keen to look for potential joint ventures to advance the company's projects.

“The idea is that we start the early phases of the project," he said. "We do the early exploration and hopefully discovery, which we've done at Slivova in Kosovo and the Sesmarias (target) in Portugal, and get them to a point where they are 'venturable.'”

Joint ventures, according to Kuhn, work better by allowing Avrupa and its partners to work together and resolve any problems related to exploration.

Keep reading...Show less
World Copper CEO Gordon Neal

New World Copper CEO Shares Plans to Advance Zonia Copper Project to Production

World Copper’s (TSXV:WCU) newly appointed CEO Gordon Neal wants to focus on advancing the Zonia copper oxide project in Arizona, US, to the development stage and transforming World Copper into a US-centric copper company.

“The US government, the Department of Energy, has determined that copper is a critical metal. And so there’s lots of attention and funds available for companies that have a US-domiciled project,” he said.

World Copper’s Zonia project has undergone extensive historical exploration and mine development planning, with a historical 2018 preliminary economic assessment and 2017 mineral resource estimate that show excellent economics, a mine life of 8.6 years and an average annual production rate of 49.1 million pounds.

Keep reading...Show less
 Western Copper and Gold President Dr. Paul West-Sells and CEO Sandeep Singh

Casino Project’s Compelling Attributes Attract "Phenomenal" Investments, WRN Exec Says

Western Copper and Gold’s (TSX:WRN,NYSEAMERICAN:WRN) Casino project is a compelling asset loaded with reserves that could last 27 years, one of the factors that sealed joint ventures with Rio Tinto (NYSE:RIO,ASX:RIO,LSE:RIO) and Mitsubishi Materials (TSE:5711), according to the company’s CEO, Sandeep Singh.

“Both (Rio Tinto and Mitsubishi) are tremendous partners. They lend a significant amount of technical expertise to the asset — things that a junior company could not replicate on its own even if it had the resources to do it,” he said.

“It's not just the scale … But also kind of the other factors going for it — the high-grade core, that it's at surface with next to no strip, the clean metallurgy, the jurisdiction it's in, you know, the state it's in. There's a lot of positive attributes. And it's not a surprise to us that it's attracted interest from those types of groups,” Singh added.

Keep reading...Show less
Miramar Resources

Bangemall Ground EM Surveys Outline Multiple Norilsk-Style Drill Targets

Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to advise that ground electromagnetic (EM) surveys have identified multiple drill targets at the Company’s large 100%-owned Mount Vernon and Trouble Bore Projects in the Gascoyne region of Western Australia.

Keep reading...Show less
Interra Copper

Interra Copper Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×