Intrepid Metals (TSXV:INTR) (OTC:IMTCF), a company focused on the exploration of high-grade copper, silver, lead, and zinc mineral projects, announced in April this year its agreement to acquire an additional 22 unpatented lode mining claims at its Corral Copper Project in Cochise County, Arizona. This transactionmarks a significant expansion for Intrepid Metals footprint in the region, bringing its total land package at the Corral Copper Project to 8,972 acres.
The success of Intrepid Metals in securing these new mining claims can largely be attributed to the strategic leadership of Mark Morabito, a Vancouver-based executive and Intrepid’s Chair. With more than 20 years of experience in the public markets, Morabito’s expertise in raising capital and corporate development has been instrumental to the company’s growth.
Mark Morabito is the founder of King & Bay West, a merchant bank and technical services company that specializes in identifying, funding, developing, and managing high-potential opportunities. Over the years, he has been the driving force behind several resource development companies, including Alderon Iron Ore Corp. and Excelsior Mining Corp. To date, Morabito has raised more than $1 billion in capital and commitments and has secured two listings on the New York Stock Exchange.
Ken Brophy, CEO of Intrepid, expressed enthusiasm about the new acquisition, stating, “These new claims were identified as an integral part of our expanded land package and had considerable exploration work completed throughout the claim package previously. We look forward to our technical team evaluating all the newly acquired data as part of our continued efforts to unlock the value from the district-scale opportunity the Corral Copper Project presents.”
While the Sara Claim Group has not yet undergone diamond drilling, it has been subjected to extensive exploration, including trenching, grab and chip sampling, mapping, geophysical surveys, and geochemical work. It is viewed as a tertiary-aged low-sulfidation system, with historical work focusing primarily on gold.
The Corral Copper Project is a district-scale advanced exploration and development opportunity situated 15 miles east of Tombstone, an area with a mining history dating back to the late 1800s. Despite various companies exploring parts of the district between 1950 and 2008, efforts were fragmented and uncoordinated due to the previously divided land ownership. With Intrepid’s consolidation of over 8,972 acres, the company can now create more comprehensive geological interpretations and identify new target areas for drilling.
The acquisition of the Sara Claim Group is one more step in Intrepid’s strategic consolidation efforts in the region, reflecting the company’s commitment to responsible exploration and development. Intrepid continues to demonstrate its ability to consolidate land ownership in a region that has long been sought after for its mineral potential., driven in part by the leadership of Mark Morabito and a skilled technical team.