IDEX Metals (IDEX.V) has announced it has made a new discovery on its fully owned Freeze project in Idaho. The new breccia body was discovered just 700 meters north of where the current drill program at the Kismet breccia complex is ongoing. Additionally, besides discovering an additional breccia structure, the company’s field teams discovered a new gold-bearing zone (now called the Frostfall Zone) approximately 950 meters further to the north.
The company has summarized all key elements in these bullet points:
The North Breccia zone was discovered approximately 700 meters north-northwest of the Kismet target, and it appears to be a pretty similar type of mineralization to the magmatic breccia system that’s visible at the Kismet target. According to the company, the existence of a second breccia body, this close to Kismet, has several implications; ‘it remains to be determined whether the breccia system is part of the same breccia system as Kismet, or whether it represents a separate magmatic hydrothermal system entirely. Secondly, there may be an important relationship between NW-trending structures at Placer Creek, Hornet Creek and Olive Creek, and exposures of mineralized intrusive lithologies.’
The newly discovered Frostfall zone was discovered under the root systems of newly-fallen trees and the extent of the mineralization remains unknown at this point. But it is interesting to see that the alteration and style of this new zone appears to be identical to the CM zone, which is located about 2,500 meters to the west.
It has been a while since the company released drill results and we hope to see some assay results from hole KSMT25004 and 005 in the near future. IDEX Metals is fully cashed up after its C$5.3M raise.
Disclosure: The author has a small long position in IDEX Metals. IDEX is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
