Highlights
- An advanced stage, 100% controlled copper project in Arizona
- Over 50,000m of historical drilling has been completed within the district, with near surface mineralization of copper, silver, zinc and gold, including 126.2 metres of 1.24% copper
- Robust land package of over 8,970 acres (14 square miles) of mineral rights
- Anglo American retains an interest on a portion of the project
Ideally Located
- The Corral Copper Project is located in Cochise County, Arizona, 15 miles east of the famous mining town of Tombstone and 22 miles north of the historical Bisbee mining camp which has produced more than 8 billion pounds of copper with grades of up to 23%. Production from the Bisbee mining camp is not necessarily indicative of the mineral potential at the Corral Copper Project.
- Corral Copper consists of 8,972 acres (3,631 hectares) of mineral rights and over 1,700 acres of surface rights and ownership from patented rights.

Mining History
- The district has a mining history dating back to the late 1800s, with several small mines extracting copper from the area in the early 1900s, producing several thousand tons with grades up to 9.2% copper ore. Between 1950 and 2008, various companies explored parts of the district, but the effort was uncoordinated, non-synergistic and focused on discrete land positions and commodities due to the fragmented ownership. Intrepid has been able to secure data from various sources which provides a solid foundation in creating geological interpretations and identifying new target areas.
- Anglo American began exploring the district in 2016, conducted mapping and airborne geophysics which identified numerous new target areas through the district. Intrepid has acquired Anglo American's data package and in exchange, Anglo American has retained an interest over a portion of the project area in the form of a right of first refusal over transfers if certain conditions are met.
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Over 50,000m of historical drilling has been completed within the district, with significant near surface intercepts, including 126.2m (30.4m to 156.6m) of 1.24% copper in Drill Hole 20_01. This drill result is historical in nature. Intrepid has not undertaken any independent investigation ofthe sampling nor has it independently analyzed the results of the historical exploration work in order to verify the results. Intrepid considers these historical drill results relevant, as the Company will use this data as a guide to plan future exploration programs. Intrepid also considers the data to be reliable for these purposes; however, the Company’s future exploration work will include verification of the data through drilling.
Historical Drill Results
Copper (“Cu”) highlights, as well as the corresponding silver (“Ag”), gold (“Au”) and zinc (“Zn”) grades, from historic drilling on the Corral Copper Project included:
- 126.2m at 1.24% Cu and 3.45 grams per tonne (“g/t”) Ag (30.4m to 156.6m), including 5m at 3.6% Cu in Hole 20_01
- 104.9m at 1.31% Cu, 4.89 g/t Ag and 0.43 g/t Au (60.8m to 165.7m), including 7.6m at 3.74% Cu in Hole 20_21
- 71.4m at 0.75% Cu and 26.43 g/t Ag (66.9m to 138.3m), including 6m at 3.5% Cu in Hole NCTR_11
- 44.0m at 1.35% Cu, 30.38 g/t Ag, 0.21 g/t Au and 0.28% Zn (35.0m to 79.0m), including 7.6m at 3.9% Cu and another 41.0m at 0.32% Cu and 9.18 g/t Ag (106.4m to 147.4m) in Hole BR_06_81
- 51.7m at 1.01% Cu, 7.98 g/t Ag and 0.39 g/t Au (63.8m to 115.5m) in Hole 20_37
- 62.4m at 0.74% Cu and 3.85 g/t Ag (25.8m to 88.2m) in Hole 20_36
- 63.9m at 0.62% Cu, 8.50 g/t Ag, 0.42 g/t Au and 0.25% Zn (79.0m to 142.9m) in Hole BR_06_100
- 41.0m at 0.73% Cu and 3.01 g/t Ag (21.3m to 62.3m) and another 30.4m at 0.70% Cu, 5.03 (“g/t”) Ag and 0.35 g/t Au (79.0m to 109.4m) in Hole 20_03
- 41.1m at 0.86 % Cu and 17.70 g/t Ag (25.8m to 66.9m) in Hole CG_08
- 25.9m at 1.10% Cu, 6.68 g/t Ag, 0.39 g/t Au and 0.20% Zn (101.8m to 127.7m) in Hole NCTR_07
- 62.3m at 0.36% Cu (0.0m to 62.3m) in Hole 20_08
- 36.5m at 0.37% Cu, 11.9 g/t Ag and 0.44 g/t Au (68.4m to 104.9m) in Hole 20_09
- 27.4m at 0.91% Cu, 5.72 g/t Ag and 0.47 g/t Au (85.1m to 112.5m) in Hole 20_13
- 39.5m at 0.30% Cu and 3.35 g/t Ag (112.5m to 152.0m) in Hole 20_34
- 36.5m at 0.54% Cu and 0.26 g/t Au (6.1m to 42.6m) in Hole 20_41
- 35.0m at 0.52% Cu (67.8m to 102.8m) in Hole NCTR_08
- 30.4m at 0.45% Cu, 7.28 g/t Ag and 0.32 g/t Au (7.6m to 38.0m) and another 42.6m at 0.68% Cu, 14.18 g/t Ag, 0.26 g/t Au and 0.21 Zn (54.7m to 97.3m) in Hole BR_06_73
Note: The drill results are historical in nature. Intrepid has not undertaken any independent investigation of the sampling nor has it independently analyzed the results of the historical exploration work in order to verify the results. Intrepid considers these historical drill results relevant, as the Company will use this data as a guide to plan future exploration programs. Intrepid also considers the data to be reliable for these purposes; however, the Company’s future exploration work will include verification of the data through further drilling.
Intrepid’s Plan
Intrepid is confident that by combining modern exploration techniques with historical data and with a clear focus on responsible development, the Project can quickly become an advanced exploration stage project and move towards feasibility level studies.
Intrepid is currently compiling the historical data into a new database and re-examining it, in order to distinguish the copper mineralization (e.g. supergene chalcocite, supergene oxide and primary sulfide zones) ahead of more detailed modeling. This modeling will help guide Intrepid's initial drill program, planned for later this year. The initial 30-hole drill program (6000 meters) is proposed to confirm historical data as well as test new areas within the mineralized trend.