Intrepid hits gold-copper at Gama

THE DRILL SERGEANT: ASX-listed Intrepid Mines and TSX-listed Cornerstone Capital Resources have announced the completion of the first six holes of an 11-hole (2,900 metres) drilling program.

The Phase 1 diamond drilling program was carried out on the Gama prospect, located in the north western part of the Shyri property in southern Ecuador.

Intrepid is earning an initial 60% interest in the Shyri project, and may earn an additional 20% on specific project areas.

The recent drilling commenced in March this year and is ongoing.

Results received to date include: 45 metres at 0.71 grams per tonne gold and 0.18% copper within a broader zone of 101m at 0.41 g/t gold and 0.13% copper in a porphyry environment.

“The geology encountered in the first part of this scout drilling program is very encouraging,” Cornerstone Capital Resources president Brooke Macdonald said.

“The size, intensity and complexity of the hydrothermal systems are confirmed. Gold and copper are present over large areas and occur in multiple rock units.

“A significant mineralized gold-copper zone was intersected in the porphyry in hole GAD-002, and this zone is open in all directions.

“We are now moving north and east into the epithermal part of the system, and are hoping to receive good results from this primary target”.

Cornerstone’s optimism is obviously shared by the folk over at Intrepid.

“Intrepid is encouraged by these results from the first drilling program at Gama prospect,” EGM exporation and new business at Intrepid Mines Malcom Norris said.

“They confirm the geological model and have delivered some positive assay results. These first five holes have provided an excellent start to discovering a potentially significant gold-copper system.”