San Cristobal:
The San Cristobal District encompasses approximately 250 km2, and has been aggressively explored by Intrepid since 1997. Intrepid has a 10-year history in the region and is the largest mineral title holder in the country. Multiple targets have been generated at San Cristobal and Intrepid is currently exploring about 120 km2 of the district in four exploration licenses.
San Jacinto:
- Initial results from all prospects have been encouraging at the 100% held San Jacinto prospect.
- In February 2006, Intrepid completed 27 trenches that tracked the vein system for at least one kilometre.
- Results from this trenching program provided gold values of 8 m of 5.1 g/t gold from trench 20 (see March 23/06 press release). These results are consistent with many upper level epithermal precious metal vein systems.
- Exploration for 2006 will include: geophysics, mapping, trenching and ~3,000 m diamond drilling at San Jacinto and other targets.
Rio Seco:
- Located less than one kilometre from the historic gold and silver producing Montecristo mine area which hosted some of the richest and deepest high-grade gold and silver veins mines in the San Cristobal District
- Geophysical surveys and trenching were completed in 2005 returning results from vertical channels cutting flat-vaines of 4.30 g/t gold and 60 g/t silver, 5.33 g/t gold and 139 g/t silver, 6.38 g/t gold 100 g/t silver over one to two metre intervals.
- An initial four hole diamond drill program in planned for 2006
Potonico District:
Two exploration licenses (Cerro Petancol and Ojo Blanco) are held by a joint venture between Intrepid and Au Martinique Silver Inc. (TSXV:AUU). Au Martinique has completed its earn-in on this project and two additional exploration licenses have been acquired – the Santa Catarina and Arcatao. The total land package consists of 149.5 km2. Significant precious metal values of up to 136 g/t gold and 915 g/t silver were encountered in 2004 at the Potonico Zone on the southern part of the Cerro Petancol property. Reconnaissance rock samples taken during the same program from the San Antonio Zone northeast of Potonico, returned anomalous gold values ranging to 55 g/t gold.
- This hydrothermal system contains a mega stockwork over 10 km2 in size and textures are representative of gold veins found in typical epithermal gold systems.
- Work to date - stream sediment survey, reconnaissance mapping and rock sampling - on the Ojo Blanco license, has obtained gold values exceeding 20 g/t from quartz veining exposed by deep erosion.
- A budget of C$1 million has been allocated to extend mapping and sampling coverage of the vein and alteration systems for the joint venture with a view to determining drill targets for testing later in the year.
