Intrepid Minerals Defines Extent of New Vein System in Eastern El Salvador.TORONTO -- Intrepid Minerals Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :IAU IAU abbr. 1. International Association of Universities 2. International Astronomical Union ) is pleased to report the results from the completion of Phase 1 activities at the 100% held San Jacinto San Jacinto, river, c.130 mi (210 km) long, rising in SE Texas as the West Fork and flowing S to Galveston Bay. Its chief tributary is Buffalo Bayou, and both the bayou and the lower river are used for the Houston ship channel. prospect located in the San Cristobal San Cris·tó·bal A city of extreme western Venezuela in a mountainous region near the Colombian border south-southwest of Maracaibo. Founded in 1561, it was severely damaged by an earthquake in 1875. Population: 298,000. Mega-district in eastern El Salvador El Salvador (ĕl sälväthōr`), officially Republic of El Salvador, republic (2005 est. pop. 6,705,000), 8,260 sq mi (21,393 sq km), Central America. . The 250 km(2)district has been aggressively explored by Intrepid since 1997 with the Company assembling an extensive data base. Intrepid is currently exploring approximately 120 km(2) in four exploration licences. The San Jacinto Prospect, identified in 2004 as a "green field" prospect, is located 5 kilometers SSW SSW abbr. south-southwest Noun 1. SSW - the compass point midway between south and southwest sou'-sou'-west, south southwest from Intrepid's Oro Nuevo Project and is considered to be part of the Oro Nuevo Corridor. The prospect consists of a north-trending vein system that can be traced on surface for one kilometer. Values from 160 ppb gold to as high as 40 g/t gold have been obtained in grab samples of outcrop and float from this massive to banded quartz vein system. In February 2006, Intrepid completed 27 trenches ( see Map at http://www.intrepidminerals.com/San_Jacinto.pdf ) totaling 566 meters over a total strike length, including vein splits, of over 1.5 kilometers. The Main San Jacinto vein can be traced in surface exposures for over 650 meters and disappears beneath overburden whereas the minor auxiliary veins, the Ulises and Northeast San Jacinto veins can be collectively observed at surface for over 900 meters. The Main San Jacinto vein, ranges in width from two to over 20 meters, is composed dominantly of vein breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. , probably of hydrothermal hydrothermal, hydrothermic relating to the temperature effects of water, as in hot baths. origin, with a fine-grained quartz-chalcedony matrix containing up to 20% silicified si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. andesite andesite Any member of a large family of rocks that occur in most of the world's volcanic areas, mainly as surface deposits and to a lesser extent as dikes and small plugs. and vein fragments. Local banding of the quartz vein is best developed in the southern part of the vein and corresponds with the highest gold values, 8 meters of 5.11 g/t gold in Trench 20. The hosting andesite is widely silicified adjacent to the vein and may contain broad zones of quartz-chalcedony stockwork. Silver values are negligible perhaps owing to owing to prep. Because of; on account of: I couldn't attend, owing to illness. owing to prep → debido a, por causa de surface oxidation of the vein complex. The widespread silicification si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. , quartz-chalcedony composition, banded textures and anomalous gold values suggest that current levels of exposure levels are high within the accepted models for low sulfidization epithermal gold-silver deposits. A summary of significant trench results are shown in Table 1. Intrepid Minerals is pleased with these results, viewing them as consistent with many upper level epithermal precious metal vein systems; the structure is robust and anomalous gold values are present throughout the vein's extent.
Table 1: San Jacinto - Summary of Significant Trench Results
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Trench Interval Grade
Number Width (m) (g/t gold)
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San Jacinto Vein
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10 2.7 1.01
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12 5.4 1.55
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13 2.0 1.02
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14 5.0 1.18
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15 18.8 1.15
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17 2.0 1.69
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18 2.0 1.57
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19 13.5 2.40
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20 8.0 5.11
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21 5.0 4.08
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22 2.0 1.00
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Trenches 1 through 9, 11, 16, 23 to 25 returned low anomalous values of less than 1ppm gold. Trenches 26 & 27 had no veins. All samples were analyzed at CAS Labs of Honduras, utilizing standard AA/fire assay finish and gravimetric check assays on samples reporting greater than 1.0 g/t gold. Silver assays were obtained by standard gravimetric analysis gravimetric analysis n. The determination of the quantities of the constituents of a compound. only. William McGuinty, P.Geo. is Intrepid's Qualified Person on this project. "San Jacinto represents another discovery for the Intrepid team in El Salvador's historic San Cristobal mining district," said President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Laurence Curtis. "We are committed to increasing our level of activity in El Salvador in 2006, leading off with this promising new prospect." The San Jacinto Prospect is currently being prepared for drilling and will be tested in April with a preliminary drill program consisting of about 5 core holes drilled to depths up to 150 meters. Intrepid Minerals is a TSX-listed company engaged in the acquisition, exploration and development of mineral prospects. Intrepid is currently completing a plan of arrangement with NuStar Mining of Australia which will result in the merged entity having an international production, development and exploration profile. The Company, either directly or through joint venture partnership, holds interests in several gold-silver and silver-base metal properties in Argentina, El Salvador, and Canada. Intrepid has 57,034,552 shares outstanding. FORWARD LOOKING STATEMENTS This Press Release contains certain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX has neither approved nor disapproved the information conta ined in this press release. Intrepid Minerals Corporation (TSX:IAU) |
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