Iconic Minerals of Canada Completes Assays for 15 Holes at US Gold-Silver Project

en.Wedoany.com Reported - On October 29, Canadian mining company Iconic Minerals completed assaying of all samples from the first-phase 15 core drill holes at its New Pass gold-silver project in Nevada, USA, with the final 3 holes returning new near-surface gold-silver mineralization data. The project is located in Churchill County, approximately 240 km east of Reno. This round of drilling tested a strike extent of about 600 meters, with the mineralized zone extending approximately 61 meters farther east than the historical drilling locations.

Among the final batch of assay results, hole NP2611 returned 52 meters averaging 0.67 g/t gold and 9.56 g/t silver from surface, including 27 meters from 18 to 46 meters depth averaging 1.10 g/t gold and 17.13 g/t silver. A 3-meter sample interval from 24 to 27 meters depth in this hole initially assayed over 100 g/t silver, reaching the upper limit of the analytical method.

Hole NP2619 returned 15 meters from 15 to 30 meters depth averaging 0.34 g/t gold and 1.48 g/t silver. Hole NP2626 returned 9 meters and 15 meters from 3 to 12 meters and 15 to 30 meters depth, respectively, grading 0.28 g/t and 0.41 g/t gold, and 6.20 g/t and 1.58 g/t silver, respectively.

All 15 holes in this round were oriented at a -45 degree dip, with core sampling targeting the up-dip extension of the known mineralized zone and gaps between historical drill holes. All of the final 3 holes intersected gold mineralization meeting the company's cutoff grade within 15 meters of the collar. Drill samples were collected at approximately 3-meter intervals, with quarter HQ core sent to the ALS Reno laboratory, accompanied by standards, blanks, and duplicates.

Iconic has sent a portion of the oxidized mineralized core from this drilling round to ALS for cyanide leach analysis to test gold leachability. The company plans to conduct column leach tests using the recovered core after receiving the relevant results, and to update the geological interpretation and extension evaluation of the mineralized zone incorporating multi-element assay results. The scope of follow-up drilling will be determined based on the new resource evaluation and metallurgical test results.