CU-AU-PORPHRY PROSPECT IN WASHINGTON-ADAMS COUNTY
The Freeze Project, located in Washington and Adams Counties, Idaho, is a premier Cu-Au porphyry prospect with district-scale potential. Spanning 31,645 acres, the property is 100% owned by IDEX and is strategically positioned within a highly active exploration corridor with recent activity by major players such as Barrick Gold, Rio Tinto, Teck Resources, and BHP.
IDEX’s early exploration efforts have shown significant potential for copper, gold, and silver mineralization.The Freeze Project benefits from road access and proximity to the town of Council, Idaho, with a favorable regulatory and jurisdictional profile.
Early exploration by IDEX has outlined multiple high priority targets defined by large scale copper-in-soil anomalies, high grade rock samples, and coincident geophysical signatures, all within a district-scale land position with significant growth potential.
LARGEST CONTIGUOUS MINERAL LEASE IN IDAHO STATE
- Located within the newly emerging Idaho Copper Belt (ICB)
- In 2023, Hercules Metals’ Leviathan discovery triggered a $23M equity investment by Barrick Gold
- Staking rush secured ground for Barrick, Rio Tinto, Teck, BHP & IDEX Metals ~120,000 acres staked over 1 year period
- IDEX now controls 31,645 acres at Freeze, including a 28,432 acre Idaho Department of Lands (IDL) mineral lease
- The Freeze property is road accessible, with power &water, and is serviced from the town of Council, Idaho
- Favourable regulatory and jurisdictional risk profile – Idaho, USA
The Freeze Project is part of a northeast trending belt of Tertiary aged, quartz rich, Cu-bearing porphyry systems hosted within a northwest dipping volcano-sedimentary sequence. The region hosts occurrences of porphyry Cu-Au and epithermal Au mineralization, making it a key target for exploration. Major structural controls, including the Bayhorse Thrust Fault, are thought to be a major control on fluid flow and mineralization.
Preliminary mapping and sampling by IDEX have identified favorable lithologies, structures, and geochemical anomalies. This initial exploration work has returned significant copper, gold, and silver values, further supporting the project’s potential.
The property’s geology is characterized by erosional windows cutting through post-mineral basalt cover, providing direct exploration access to mineralized Triassic rocks that would otherwise be concealed. Combined with widespread geochemical anomalies and coincident geophysical signatures, these results suggest strong potential for the discovery of a significant copper-gold porphyry system within the Freeze Project area.
Kismet Corridor Geophysics – MT & ELF Surveys Align at North Breccia Anomaly
MT & IP Survey Delineated 11x4km Structural Corridor
Induced Polarization (IP) Survey
IP Results, High Chargeability Feature Trending NW Along the Kismet Corridor
- Ground based magnetotelluric (MT) geophysical survey outlined a NW-SE trending structural corridor with three major high-resistivity anomalies
- Corridor mapped over 11 km length by 4 km width
- Anomalies interpreted as intrusive centers / potassic-altered cores, flanked by mineralized breccias
- Both Kismet and CM targets occur on margins of resistive centers, consistent with intrusive-related Cu systems
- Hole KSMT25001 & KSMT25002 was drilled through moderately resistive features ranging from 200-600 Ohm-m; on the flank of a major >800 Ohm-m body
- Provides strong geophysical support for district scale magmatic-hydrothermal system
OVERVIEW
DRILL-READY TARGETS
- Kismet Target: 500 x 500 m(1) copper-in-soil anomaly, tourmaline breccia, strong oxide/sulphide expression, phyllic overprint
- North Breccia Target: Second copper-bearing breccia body identified 700 m north of Kismet, with malachite–chalcopyrite mineralization in porphyritic granodiorite, expanding the mineralized footprint.
- Frostfall Target: Discovery of a gold-bearing zone ~950 m north of the North Breccia which returned up to 2.91 g/t Au, indicating a new structural gold trend north of Placer Creek
- CM Target: 1,500 x 2,000 m1copper-in-soil anomaly with coincident chargeability high
DEVELOPMENT TARGETS
- Olive Target
- Olive South Target
- Devils Slide Target
- Shiver Target
- Shine Target
- Coldsnap Target
DRILL-READY TARGETS
The Kismet Corridor Spans over 1.8km’s of total strike length
Part of the northeast-trending occurrences of Triassic aged quartz rich Cu-bearing porphyry prospects
Reconnaissance rock and soil sampling by IDEX has returned significant copper, gold and silver values from numerous prospects
KISMET
2025 Drilling Delineated Copper Mineralization over 765m (N-S) x 135m (E-W) x 500m (Depth)
IDEX Hit Continuous Copper Mineralization in 6 out of 6 Drill Holes in 2025
Results from the 2025 drill program on the Kismet target showed an interval of 101m at 1.02% Cu.
*Copper equivalent calculations used the following assumptions: US$3.75/lb Copper, US$35/oz Silver, US$30/lb Molybdenum and metallurgical recoveries were assumed to be 90%. All intervals are presented as core lengths as the true thicknesses of mineralization is currently unknown.
Kismet Mineralization Styles include an oxide copper mineralization at depths over 400m, molybdenum mineralization increasing at depth, and intrusive mineralization occurring at the bottom of hole 6.
CUDDY MINE TARGET
LARGE CHARGEABILITY ANOMALY DIRECTLY UNDER 2×1.5KM COPPER-IN-SOILS ANOMALY
- Reconnaissance rock and soil sampling by IDEX in 2023 returned a significant 1,500 x 2,000 m copper-in-soils anomaly (1)
- Coincident with sericite altered rocks and strong IP chargeability response (2024 DIAS geophysical survey)
- Rock samples up to 3.5% Cu and 33 g/t Au2 in vuggy quartz-pyrite-specularite veining
- Unexplored at depth – 2026 drill target
(1) 2023 IDEX Soil Program Results
Drill Results
Results from the 2025 drill program on the Kismet target showed an interval of 101m at 1.02% Cu.
*Copper equivalent calculations used the following assumptions: US$3.75/lb Copper, US$35/oz Silver, US$30/lb Molybdenum and metallurgical recoveries were assumed to be 90%. All intervals are presented as core lengths as the true thicknesses of mineralization is currently unknown.
2026 EXPLORATION PROGRAM
An Induced Polarization (“IP”) geophysical survey over the Kismet-North Breccia-Frostfall targets is underway to define near-surface structures and alteration zones, providing high-resolution targeting data ahead of a planned drill program slated to begin in May 2026.
Drilling will target the buried intrusive centre interpreted beneath the North Breccia and Kismet targets, where soil geochemistry, geophysics, and 2025 drilling (notably, hole KSMT25006), have collectively outlined the highest-priority target on the Property and expand into the interpreted core of a copper-molybdenum porphyry system associated with the molybdenum-tellurium geochemical anomaly, in addition to measuring grade continuity and depth of mineralization beneath the North Breccia.
A focused surface exploration campaign across the Freeze Property, concurrent with drilling, will focus on expanded soil geochemistry, targeted rock sampling, and geological mapping across priority target areas including Frostfall, Devils Slide, Shiver, Shine, Coldsnap and Olive Creek.
2025 EXPLORATION & WORK PROGRAM
PERMITTING
• IDL and USFS drill permit approval granted
FREEZE PROJECT DRILLING
• Multiple holes at Kismet : KSMT25001-KSMT25006
• CM drilling approved and included in Phase II drill program
GEOPHYSICS
• MT survey outlined 3 major high-resistivity anomalies in NW-SE corridor, interpreted as intrusive centers
• IP & ELF surveys completed: show a large anomaly directly below the North Breccia Target
SURFACE EXPLORATION
• Collection of soil and rock samples to refine geochemical anomalies and define new targets
• Property wide geological mapping across unexplored IDL ground, prioritizing controls on mineralization
• Discovery of 1.8km Cu-Mo to Au-Cu corridor linking the Kismet>North Breccia>Frostfall targets
TARGET GENERATION
• The combined results from these exploration programs have defined 5 new large scale drill targets for aPhase II program