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Greyhound Lake, Nunavut
In June 2006, Intrepid signed an option agreement with Aura Silver Resources
Inc. whereby Intrepid is earning an interest in the Greyhound Property
located 40km north of Baker Lake, Nunavut. Intrepid has completed its
minimum of US$200,000 commitment for 2006 to earn a 25% interest in the
project. Intrepid is earning an additional 25% interest by spending a
further US$150,000 in 2007, for a total direct interest of 50%.
In 2006, Intrepid completed a MEGATEM airborne survey. Additionally, a brief
5 day prospecting program was conducted on the property, tracing known iron
formation and bedded horizons as a basis for comparison with airborne
results.
The project received a three week mapping and ground follow-up program in
July and August of 2007 consisting of mapping and geophysical anomaly follow
-up and geochemical sampling programs. The results of this program are being
evaluated with a view to testing the property via drilling if warranted.
