Intrepid Minerals diamond drilling results
Intrepid Minerals Corporation
IAU
Shares issued 13,910,800
2000-04-07 close $0.3
Monday Apr 10 2000
Mr. Laurence Curtis reports
Intrepid Minerals Corporation released the results today of twin diamond hole 00DH-7,
completed as part of Intrepid's quality control protocol for drilling at the Cerro Colorado III
discovery in western El Salvador. The hole was designed to duplicate reverse circulation hole
99RC-1, and represents the true width intersection through the baryte stockwork capping Cerro
Colorado III.
The diamond hole returned 53 metres of 285 grams per tonne silver, including two higher-grade
intervals of:
14 metres assaying 698 g/t silver, 0.15 g/t gold, 0.58 per cent lead and 1.09 per cent zinc;
11 metres assaying 118 g/t silver, 0.20 g/t gold, 1.14 per cent lead and 5.81 per cent zinc;
By comparison, 99RC-1 returned 305 g/t silver over 55 metres, including five metres of 832 g/t
silver and four metres of 926 g/t silver. When silver assays are cut to 1000 g/t, the average silver
grade over a 53 metre interval is 271 g/t for 99RC-1 and 272 g/t for 00DH-7, or a 0.4 per cent
variance.
INTERVAL LENGTH Ag Au Pb Zn Ag (1)
(m) (m) g/t g/t % % Equiv
g/t
Hole 99 RC-1
0-55 55.0 305 0.06 0.30 0.80 308
cut(2)
2-55 53.0 271 0.06 0.30 275
incl.
21-26 5.0 832 0.08 0.35 1.16 837
incl.
39-43 4.0 926 0.10 0.18 2.26 932
00 DDH-7
2-55 53 285 0.11 0.69 1.61 292
cut(2)
2-55 53 272 0.11 0.69 279
incl.
20-34 14.0 698 0.15 0.65 1.09 707
incl.
044-55 11.0 118 0.20 2.27 5.81 130
incl.
44-46 2.0 295 0.69 2.41 11.87 336
(1) Silver equivalent of Ag:Au equals 60:1 calculated on the basis of
$5.00 (U.S.) per ounce for silver and $300 (U.S.) per ounce for gold
excluding any value for zinc.
(2) All assays cut to 1000 g/t silver
(3) All assays were carried out at CAS Laboratories in Honduras with
check assays carried out by an independent Canadian laboratory.
The last metre interval of 00DDH7 assayed 7 per cent zinc, 1.96 per cent lead and 54 g/t silver,
again confirming that the baryte-silver stockwork has a zinc-enriched footwall which has been
intersected in deeper holes drilled during this program. This twin diamond hole is currently being
extended.
In other news, Intrepid's joint venture partner, Montana Gold Corp. is making progress at the San
Cristobal project in eastern El Salvador. Geophysical surveys are planned over three mineralized
breccia zones. One of these zones is 4.5 km long, up to 500 metres wide and hosts the historic
silver-gold Encuentros mine. Soil samples over a portion of this breccia complex averaged 1.3 g/t
gold over 150 metres and 1.5 g/t over 200 metres. To earn a 60-per-cent interest in San
Cristobal, Montana is required to spend $300,000 (U.S.) in exploration expenditures on this
property by Dec. 31, 2000, and a further $300,000 (U.S.) by Dec. 31, 2001.
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