Interra Copper Corp. (CSE: IMCX) (OTCQB:IMIMF) Announces Key Update On The Rip Copper Project
As a new week begins, investors are likely to look into those stocks that may have recorded strong gains last Friday, and one of those was the Interra Copper Corp. (CSE: IMCX) (OTCQB:IMIMF). The stock clocked gains of 20% after the company announced that it started the Phase One Drilling Program at its RIP Copper Project, located in British Columbia.
Interra Announces Commencement Of Drilling On The Rip Copper Project
The project is located not too far away from the past producing Huckleberry copper-molybdenum mine owned by Imperial Metals or the active Ox/Seal/Berg projects of Surge Copper. In the news release, the company revealed that it contracted the services of Atlas Drilling Ltd. for the drilling program, which would be of around 2000 meters in depth.
The project would be run from out of the Huckleberry mine site camp situated around 88 kilometers to the south-west of Houston, British Columbia. The suggestion from the company’s geophysical survey was that of a pair of copper-molybdenum mineralization. It was also noted that one of the two targets was entirely untested at the RIP Copper Project.
The company considers the project to be a wholly unexplored copper-molybdenum system that is covered largely by overburden. In light of the announcement last Friday and the rally in the stock, it could be a good time to keep an eye on the Interra Copper stock this week.
CEO Comment
CEO Brian Thurston commented, “We are excited to drill these two classic porphyry copper-moly deposit-style bullseye targets. In well-established porphyry districts like this one, it is unusual to have untested classic porphyry targets, but at RIP, one of the targets is entirely untested by diamond drilling, and the other target was only tested with a single diamond drill hole, which was aimed away from the center of the bullseye and nevertheless hit, encouraging mineralization. We feel enthused by the untested potential of this property and are excited to commence this first phase drill campaign.”