Intrepid cuts new zone at Casposo

Channel sampling of the newly discovered Julieta vein structure on Intrepid Minerals‘ (IAU-T) Casposo property in Argentina’s San Juan province has yielded up to 56.9 grams gold and 274 grams silver per tonne.

Those high grades were encountered over a 1-metre interval of colloform-banded quartz veining situated about 4.5 km northwest of the property’s Kamila deposit.

Other selected results from an 800-metre portion of the north-south oriented vein system include:

• Channel sample 10044 1.6 metres grading 2.24 grams gold and 213 grams silver;
• Channel sample 10050-51 — 2.4 metres at 5.7 grams gold and 15.1 grams silver;
• Channel sample 10055 — 2 metres of 4 grams gold and 25.4 grams silver;
• Channel sample 5425 1 metre containing 22.1 grams gold and 324 grams silver.

In all, the vein structure was tested by 75 channel samples at 25 metre intervals, with 35% of the samples yielding more than 1 gram gold, and 10% exceeding 5 grams gold.

So far, Julieta has been traced over 1.2 km; the system comprises banded and brecciated quartz-carbonate veining with true widths of 1-5 metres.

Intrepid says drill testing of Julieta will have to wait until further surface preparation and improvement to access roads is completed later this year.

Meanwhile, drilling continues on several other mineralized vein structures within a 2-km radius of the proposed Kamila open-pit.

The Kamila open pit is home to an indicated resource of 1.5 million tonnes grading 5.76 grams gold and 140 grams silver, equivalent to 355,700 oz. gold-equivalent. The inferred resource stands at 535,000 tonnes grading 2.3 grams gold and 69 grams silver, or 55,400 oz. gold-equivalent (T.N.M., Mar. 21-27/05).

News of the discovery sent share in Intrepid 3, or more than 7%, higher to 45 in morning trading in Toronto on April 28.