IDEX Metals (IDEX.V) has announced it has received the approval issued by the Idaho Department of Lands which greenlights the company’s Phase 1 exploration plan on the Hornet Block, which is a part of its Freeze exploration project in the state. The Hornet block consists of in excess of 28,000 acres and the new permit will allow for an initial 5 acres of surface disturbance. IDEX has already designed 20 pads and this will allow the company to hit the ground running on its Kismet target.
As a reminder, IDEX Metals plans to drill up to 2,500 meters at the Kismet and CM Targets (the CM target is located on USFS land and approvals there are still pending). As discussed in a previous update, historical drilling at Kismet has encountered near-surface copper mineralization with an interval of just over 41 meters containing 0.85% copper and this makes this zone a high priority target.
The initial drill program will be executed by Scout Drilling, a local Idaho-based drill contractor with experience in the Idaho Copper Belt. The drill program is obviously fully funded after IDEX recently completed its C$5M go-public transaction.
Disclosure: The author has a 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.
