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April 17, 2023, VANCOUVER, British Columbia – Interra Copper Corp. (CSE: IMCX, OTCQB: IMIMF, FRA: 3MX) (“Interra” or the “Company”) is pleased to announce its 2023 exploration plans at the Company’s Tres Marias Copper Project (the “Project” or “Tres Marias”) in the Antofagasta region of Chile. Tres Marias is one of three copper projects that the Company acquired in 2021 from Minera Freeport-McMoRan South America Ltda. The Project is located within the Paleocene Copper Porphyry Belt, about 30 km west of the mining centre of Calama and 30 km north of BHP Chile’s Spence Mine.
The planned exploration program consists of 10,500 m of reverse circulation (“RC”) drilling across three target areas within the 16,080 ha of contiguous concessions. The objective of the program is to test a number of targets identified in the technical work completed to date, which includes the reprocessed historical airborne ZTEM and 3D inversion of this airborne data, a 504 km UAV high-resolution magnetic survey, and a 29 line-km GDAS 3D induced polarization survey completed by Alto Verde Copper.
Chris Buncic, President & CEO of Interra stated, “We are excited to kick off our drilling campaign at Tres Marias and test the large coherent chargeability and resistivity anomalies that have been identified. Located on the same prolific copper belt that hosts a number of producing mines, including Spence and Sierra Gorda, the early work at Tres Marias shows that it is prospective for copper porphyry mineralization and we are eager to begin the program to better understand the mineralization and geology.”
The three target areas of interest are clustered in the Eastern, Central, and Western parts of the property, as highlighted in Figure 1. Historical work on the Project had identified Tres Marias East as a target area, but the reprocessing of historical geophysics and the completion of additional studies identified stronger anomalies in Tres Marias Central and West which the exploration program will also test.
Figure 1: Tres Marias Copper Project planned RC drill holes
The planned exploration program will be completed in a phased approach, with the first phase of the program comprising 2,100 m of RC drilling in Tres Marias East. Figure 2 below highlights the collar locations. The initial planned drill holes are aimed at testing different geophysical combinations from the ZTEM reprocessing, UAV MAG survey, and IP/Resistivity survey, as well as the geological model due to their proximity to the Guacate Fault, which has likely imparted some structural control on mineralization. The technical team has begun preparations and mobilization for the exploration program is expected in early May 2023.
Technical Disclosure/Qualified Person
The scientific and technical information in this press release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo., PhD, PMP), Principal Geoscientist and Managing Director at Caracle Creek Chile SpA and an independent consultant and Qualified Person as defined in National Instrument 43-101.
About Interra Copper Corp.
Interra Copper Corp. is focused on building shareholder value through the exploration and development of its portfolio of highly prospective/early-stage exploration copper assets located in Chile and Northern British Columbia.
The Company’s portfolio includes three copper projects located the Central Volcanic Zone, within a prolific Chilean Copper belt: Tres Marias and Zenaida in Antofagasta Region, and Pitbull in Tarapaca Region. The Company now holds a significant land package covering an area of 16,250 hectares with the projects situated amongst several of the world’s largest mines owned by the largest global mining companies including Glencore, Anglo American, Teck Resources and BHP among others. The Company also owns two exploration projects in Northern British Columbia: Thane and Chuck Creek. The Thane Project is located in the Quesnel Terrane of Northern BC and spans over 20,658 ha with 6 high-priority targets identified demonstrating significant copper and precious metal mineralization.
Interra Copper’s leadership team is comprised of senior mining industry executives who have a wealth of technical and capital markets experience and a strong track record of discovering, financing, developing, and operating mining projects on a global scale. Interra Copper is committed to sustainable and responsible business activities in line with industry best practices, supportive of all stakeholders, including the local communities in which we operate. The Company’s common shares are principally listed on the Toronto Stock Exchange under the symbol “IMCX”. For more information on Interra Copper, please visit our website at www.interracoppercorp.com.
On behalf of the Board and Interra Copper Corp.
President & CEO, Director
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Forward Looking Information
Forward-Looking Statements: This news release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, relating to exploration on the Company’s Tres Marias Copper Project, and the potential results of exploration work on the project. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the Canadian Securities Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of regulatory or legal changes that might interfere with the Company’s business and prospects. The reader is urged to refer to the Company’s reports, publicly available on SEDAR at www.sedar.com and the Company’s website. We seek safe harbor.