Argentina and El Salvador
News

Intrepid reports Casposo drilling progress

Bnamericas Published: Friday, February 14, 2003
Toronto-based Intrepid Minerals (TSX: IAU) said it has completed 500m of a 2,000m drill program at the Casposo property in northwest Argentina's San Juan province. The program is aimed at verifying the resource previous outlined by Battle Mountain Gold Mining Company, since being taken over by Denver-based Newmont Mining (NYSE: NEM), the junior company said in a statement. Drilling is currently confined to the bonanza grade Aztec, Inca and B veins, the statement said, and includes both twin holes for metallurgy and in-fill holes at the intersections of the veins. Exploration work is also continuing to the north of Casposo in preparation for the second phase of a drilling program which is due to start in April, the company said. Targets for phase II include the Mercado zone and the southeast extension of Kamila where veins up to 15m wide have been identified on surface, it said. In El Salvador, a drill program is continuing on Intrepid's 60%-owned Aldea Zapote property in conjunction with joint venture partner ASC Central America (ASC), a subsidiary of Apex Silver Mines (Amex: SIL), the statement said. Intrepid is currently drilling at San Casimiro, north of Cerro Colorado III. The most recent hole is collared in high-grade mineralization, and assayed 592g/t silver, 0.2g/t gold and 5.5% combined lead and zinc over a 4m channel taken at surface, Intrepid said. A total of 2,200m has been drilled to date of the current 2,500m program, it said. At Intrepid's 100% owned San Cristobal project in eastern El Salvador, the company is preparing a 5,000m drill program to be completed this year, it added.

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