Advanced Development 
The Kamila mining license is the key value driver of the 100 km2 Casposo gold-silver project located in the Cordillera Frontal, San Juan Province, Argentina. Intrepid owns 100% of this property and 92.5% of the 75,000 ha surface land position covering the Kamila Deposit and surrounding areas. Intrepid holds an additional 19 properties in the region. Kamila is a bonanza gold-silver system having produced multi-ounce gold and silver values over widths of 5-10 m to depths of 200 m, and is one of four gold-silver zones currently being tested along a 4 km mineralised structure. It is analogous to other multi-million ounce gold-silver deposits such as the Cerro Vanguardia Mine in Argentina and the Pajingo Mine in Australia. The Kamila Deposit, as currently defined, averages a grade of 7 g/t gold equivalent (5.5 g/t gold and 120 g/t silver) and contains a global indicated resource of 404,000 ounces of gold equivalent (which includes 7.6 million ounces of silver) at a cut-off grade of 1.4 g/t gold equivalent. In November 2005, Intrepid commissioned a feasibility study of the Kamila Deposit, selecting AMEC Peru S.A. as its lead consultant. The study is anticipated to be completed by year-end 2006. Intrepid has drilled over 5,000 m to date, and has extended its campaign to accommodate further diamond drilling for deep mineralisation below the currently optimised pit at Kamila, and to continue targeting new structural extensions to the Kamila vein systems to the southeast and the northwest. |
Argentina
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