12:11 PM EDT, 05/01/2024 (MT Newswires) -- Intrepid Metals ( IMTCF ) shares were last seen up 15% after the company on Wednesday highlighted results from the first 12 diamond drill holes from its initial drill program on the company's Corral Copper Property in Cochise County, Arizona.

The results from the first 12 holes confirmed the 3-kilometer long trend of near-surface carbonate replacement and related supergene enrichment oxide copper-gold-silver-zinc mineralization in the Holliday, Earp, and Ringo zones. These zones fall within Intrepid's private property consisting of patented mining claims and additional surface rights.

Among the highlights, the company reported 193.15 meters of 0.68% copper and 0.33 grams per ton of gold from 27 to 220.15 meters in Hole CC24_011. This includes 105.20 meters of 1.17% copper and 0.55 grams per ton of gold; 48.85 meters of 2.24% copper and 0.97 grams per ton of gold; and 3.90 meters of 6.80% copper and 1.02 grams per ton of gold.

The company also reported 124 meters of 0.52% copper and 0.35 grams per ton of gold from 10 to 134 meters in Hole CC24_001. This includes 100.35 meters of 0.57% copper and 0.41 grams per ton of gold and 4 meters of 2.70% copper and 0.89 grams per ton of gold.

Other highlights include 159.65 meters of 0.57% copper and 0.22 grams per ton of gold from 28.35 to 188 meters in Hole CC24_012 including, 40.45 meters of 0.97% copper and 0.40 grams per ton of gold and 3.85 meters of 3.34% copper and 1.54 grams per ton of gold.

The planned 5,000-meter diamond drill program is ongoing within the three main mineralized zones on the Property.

The company's shares were last seen up C$0.11 to C$0.85 on the TSX Venture Exchange.

Price: 0.85, Change: +0.11, Percent Change: +14.86