Intrepid tables mixed results (September 17, 2001)

Vancouver — A 1,047-metre drill program over the Aldea El Zapote silver project in El Salvador has prompted operator Intrepid Minerals (IAU-V) to focus further work on the Cerro Colorado III zone.

The final hole of this year’s program tested the depth extension of the Cerro Colorado III breccia pipe.

The hole cut an encouraging 42 metres grading 1.78% zinc, 0.65% lead and 180 grams silver per tonne from 82 metres down-hole. Included in this section was a 6-metre interval running 4.9% zinc, 1.7% lead and 532 grams silver.

Mineralization is hosted within the breccia body, occurring as sphalerite, barite and acanthite. Previous drilling over the zone in 1999 and 2000 yielded results of up to 1.61% zinc, 0.69% lead and 272 grams silver over 53 metres.

“We need to focus on delineating and extending the zone,” says Laurence Curtis, Intrepid’s president. “Similar deposits of this style in Mexico have proven to have great depth extent.”

Two holes were collared around the San Casimiro mine site and five shallow holes tested a zinc-silver-lead geochemical anomaly at Santa Carolina. None of these holes returned any significant values.

The drill program was funded by Apex Silver Mines (SIL-X), which is earning a 60% interest in the 50-sq.-km property.