Interra Copper Extends Cathedral (Gully) Anomalous Zone 800 Meters to the South

VANCOUVER, British Columbia, Jan. 14, 2022 (GLOBE NEWSWIRE) -- Interra Copper Corp. (CSE: IMCX) (OTCQB: IMIMF) (FRA: 3MX) ("Interra" or the "Company") announces further Drilling Results from the Gully Area at its 20,600 hectare Thane Property, located on traditional territory of the Takla and Tsay Keh Dene First Nations in North-Central B.C.

Results are from drill holes TH21-7, TH21-8 and TH21-11 which tested the eastern portion of the Gully Zone's IP chargeability anomaly along lines 4700N and 4600N respectively as well as the southern end of line 6350E. All three holes intersected indicator low grade copper-gold mineralization. Mineralization styles intersected within the drill holes consists of localized, structurally controlled, quartz-pyrite-chalcopyrite±arsenopyrite fractures, veins and rare semi-massive mineralization at shallow to moderate depths proximal to diorite-(quartz) monzonite and latite porphyry contacts and south-southwest to south-southeast trending moderate to steeply (40-80°) westerly dipping chloritic shears and dilational breccias. Significant mineralized intervals anomalous in some or all of Cu, Au, Ag, Mo include:

TH21-07

24.5 meters of indicator low grade copper-gold intercept from 70.0 m to 94.5 m, with an average grade of 0.13% Cu, 0.03 ppm gold, and 4.1 ppm molybdenum, and a CuEq of 0.15% CuEq.  

TH21-08

TH21-8 contains two indicator style low grade copper-gold intercepts, 19.4 meters of 0.05% CuEq and 34.5m of 0.04% CuEq,

TH21-011

a low grade indicator style copper gold intercept, a 10.5m composite interval from 82.5 m to 93.0 m, grading 0.14% Cu, 0.07 ppm gold, 0.7 ppm silver and 5.5 ppm molybdenum.

See Table 1 for the chart format of these intercepts and CuEq calculation, and Figure 6 for Drill hole cross sections.

Table 1 ? Chart of Composite intervals and Copper Equivalent Calculations.
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1 True widths of the reported mineralized intervals have not been determined.

2 Assumptions used in USD for the copper equivalent calculation were metal prices of $3.25/lb. Copper, $1,650/oz Gold, $20/oz Silver, and USD $40/ lb Molybdenum; Recovery is assumed to be 100% / even par given no current metallurgical testing at Thane to date. The following equation was used to calculate copper equivalence: CuEq = Copper (%) + (Gold (g/t) x 0.74) + (Silver (g/t) x 0.0090) + (Molybdenum (ppm) x 0.0006)

Drilling at the Gully Zone tested the depth potential of the following surface results: 

• a 200 square meter IP chargeability high (up to 31 mV/V with a background of 10) within a highly K-spar and silica altered and resistive diorite to (quartz) monzonite and (quartz) syenite hosts; 
• copper-gold outcrop mineralization of up to 3.13% Cu and 0.18 g/t Au within magnetic high and lows; and 
• soil samples up to 1865 ppm Cu, 0.173 ppm Au, 0.8 ppm Ag and 29.2 ppm Mo. 
  

A plan map and cross section of these holes with drill results are included below.  See figure 4 for plan view of relevant drill holes, and figures 5 and 6 for section view of the drill holes illustrating the mineralized intercepts.

Interra's goals at the Gully Zone in 2021 included;

• confirming and expanding copper and gold mineralization at depth from previous surface exploration programs;
• testing near surface chargeability and coincident resistivity highs targeted areas observed in the 2019 and 2020 IP programs and
• drilling angled holes across interpreted porphyry related alteration and associated mineralization and structural zones.
  

Interra's results to date have confirmed;

• porphyry related K-spar and lessor albite alteration and structurally controlled quartz-sulphide vein style mineralization observed at depth at Gully zone;
• late phase tourmaline-quartz-pyrite veining (Figure 1, Table 2) and associated sericitic alteration potentially related to an overprinting upper alkalic-cap;
• Copper-gold mineralization is coincident with near surface high chargeability and K-spar-quartz±albite altered highly resistive areas observed in the 2019 and 2020 IP programs;
• sulphides of pyrite, chalcopyrite and localized molybdenite, arsenopyrite and bornite occur as quartz-sulphide veins and fractures (Figure 2, Table 2) and disseminations (Figure 3, Table 2), proximal to intrusive contacts, shear structures and within localized magnetite veins and breccias;
• copper and gold mineralization at depth is at reduced grades to samples collected from the surface, which may be due to secondary supergene enrichment of the surface samples;
• both sulphides and magnetite are noted to occur within areas of high chargeability
• mineralization and associated alteration within the reported intervals above are hosted within the Thane Creek diorite (207 and 194Ma), Duckling Creek (quartz) monzonite to (quartz) syenite (182 and 175Ma) and latite porphyry (162.2±2.6Ma) intrusive phases of the Hogem Batholith (Table 2);
• A Re-Os date of (202.8 +/-0.8Ma) from molybdenite within a quartz vein taken on a Gail rock sample is within the Late Triassic to Early Jurassic porphyry Cu-Au (-Mo) age of mineralization cluster of 215-205Ma observed within porphyries located throughout British Columbia (Table 2) and
• at least one phase of mineralization within the Cathedral and Gully zones may be related to a later intrusive phase within the batholith (Table 2).

Figure 1: Tourmaline+quartz vein cut by pyrite±chalcopyrite and later calcite fractures within TH21-7 @ 69.50m.
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Figure 2: Blebby pyrite+chalcopyrite within quartz brecciated magnetite vein containing late coarse calcite proximal to increased mineralization within TH21-7 @72.50m. Sample# 42580 containing 3.42% Cu, 0.75g/t Au, 7.03g/t Ag and 1.13ppm Mo over 0.50m.
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Figure 3: Quartz-arsenopyrite-pyrite-chalcopyrite vein with sericite altered margins cutting monzonite within TH21-11 @83.00m. Sample# 41958 containing 0.19% Cu, 0.20g/t Au, 0.92g/t Ag and 13.70ppm Mo over 0.50m.
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Figure 4: Cathedral and Gully Zone Drill Hole Plan Map.
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Table 2: Summary of Intrusive Phases, Age, Observed Alteration and Mineralization within Hogem Batholith at the Cathedral and Gully Zones.

1. LA-ICPMS(Zircon) - Jones, G., Ootes, L., Milidragovic, D., Friedman, R., Camacho, A., Luo, Y., Vezinet, A., Pearson, D.G., and Schiarizza, P., 2021. Geochronology of northern Hogem batholith, Quesnel terrane, north-central British Columbia. In: Geological Fieldwork 2020, British Columbia Ministry of Energy, Mines and Low Carbon Innovation, British Columbia Geological Survey Paper 2021-01, pp. 37-56.
2. CA-TIMS(Zircon) - Devine, F.A.M., Chamberlain, C.M., Davies, A.G.S., Friedman, R., and Baxter, P., 2014. Geology and district-scale setting of tilted alkalic porphyry Cu-Au mineralization at the Lorraine deposit, British Columbia. Economic Geology, 109, 939-977.
3. ALS - Earth and Atmospheric Services Department of the University of Alberta, Re-Os isotopic and age data for molybdenite within a quartz-sulphide vein from outcrop sample #3288 within the Gail Zone at Interra Copper's Thane Project in north-central British Columbia.

Figure 5 ? TH21-7 and TH21-8 Drill hole Cross Sections
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Figure 6 ? TH21-11 Drill hole Cross Section
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Additional soil sampling results have been received with results to be compiled and news released in the coming weeks.

The scientific and technical information disclosed in this news release was reviewed, verified and approved by Christopher O. Naas, P. Geo., COO of Interra Copper Corp, who is a "Qualified Person" as defined in N.I. 43-101 regulations.

ON BEHALF OF INTERRA COPPER CORP.

Jason Nickel, P.Eng.
Chief Executive Officer
Telephone: +1-604-754-7986
Email: [email protected]

INVESTOR RELATIONS:

Email: [email protected]
Telephone: +1-604-588-2110
Website: https://interracopper.com

ABOUT INTERRA COPPER CORP.

Interra is a junior exploration and development company focused on creating shareholder value through the advancements of its current assets that include the Thane Property in north-central British Columbia. Utilizing its heavily experienced management team, Interra continues to source and evaluate assets to further generate shareholder value.

The Thane Property covers approximately 206 km² (50,904 acres) and is located in the Quesnel Terrane geological belt of north-central British Columbia, midway between the previously-operated open pit Kemess Mine and the current open pit Mount Milligan mine, both two copper-gold porphyry deposits. The Thane Property includes several highly prospective mineralized areas identified to date, including the ?Cathedral Area' on which the Company's exploration is currently focused.

Forward-Looking Statements: This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to further exploration on the Company's Thane Property, the submission of core samples and receipt of assays thereof. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the Canadian Securities Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.