ICN Resources Announces Initial Phase II Drill Results From the Goldfield Bonanza Project
2011年11月23日 - 11:00PM
Marketwired
ICN Resources Ltd. (TSX VENTURE:ICN) ("ICN" or the "Company") is
pleased to announce the initial drill results from its Phase II
drill program at the Goldfield Bonanza Project. The project, under
option from Lode Star Gold, Inc. ("Lode Star"), a private Nevada
corporation, is located in the historic Goldfield mining district
of Nevada. The Goldfield district is well known for multi-ounce,
bonanza grade gold ores and has recorded historic production in
excess of 4.1 million ounces of gold at an average grade of greater
than 17 g/t Au (0.5 oz/t). For further information on the option to
acquire an 80% interest in the Goldfield Bonanza Project from Lode
Star see the Company's news releases of March 29, 2011 and April
13, 2011.
Highlights Include:
-- 36.6 metres of 1.68 g/t Au and 21.3 metres of 2.30 g/t Au from the area
above the Newmont Lode, which had never previously been drilled from
surface;
-- 12.2 metres of 1.56 g/t Au from an area in the vicinity of the January
shaft; and
-- 13.7 metres of 6.63 g/t Au in a new area southeast of the Silver Pick
shaft, near the eastern claim boundary.
Table 1. RC Drill Results for Holes ICR-030 to ICR-047
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TD From To Interval Au
Hole ID Azimuth Angle (m) (m) (m) (m) (g/t)
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Newmont Lode Area
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ICR-030 90 -70 91.5 76.2 80.8 4.6 1.33
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ICR-031 90 -75 140.2 88.4 125.0 36.6 1.68
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ICR-032 45 -75 122.0 61.0 82.3 21.3 2.30
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ICR-035 270 -75 115.9 91.5 106.7 15.2 0.78
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ICR-036 90 75 109.8 82.3 94.5 12.2 0.48
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January Shaft
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ICR-033 270 -75 91.5 1.5 13.7 12.2 1.56
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25.9 44.2 18.3 0.79
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ICR-034 270 -75 85.4 no significant results
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ICR-037 80 -75 182.9 22.9 26.5 3.0 0.75
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ICR-038 - vertical 91.5 0.0 18.3 18.3 0.78
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East Perimeter of
January-
Combination Pit
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ICR-039 - vertical 91.5 see Table 2 below
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ICR-040 - vertical 115.9 no significant results
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ICR-041 - vertical 103.7 no significant results
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ICR-042 - vertical 97.6 no significant results
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ICR-043 - vertical 97.6 no significant results
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East of Silver Pick
Shaft
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ICR-044 - vertical 73.2 12.2 25.9 13.7 6.63
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incl. 12.2 13.7 1.5 28.32
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ICR-045 - vertical 67.1 0.0 3.0 3.0 1.90
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21.3 30.5 9.1 0.90
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ICR-046 - vertical 61.0 0.0 3.0 3.0 0.75
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18.3 32.0 13.7 1.63
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ICR-047 - vertical 73.2 no significant results
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Note: Intervals are calculated using a 0.01 oz/ton (0.34 g/t) cut off over
a minimum of 10 feet (3.05 m). True width is unknown as dips of
mineralized zones are variable. No significant results indicates that
there were no intercepts greater than 4.6 m (15 ft) above 0.50 g/t Au.
The Phase II drill program was recently completed with a total
of 11 core holes for just over 1,000 metres and 34 reverse
circulation (RC) holes for approximately 3,750 metres. Both a core
and an RC rig were utilized to follow-up on previous high grade
results (core holes) and to continue initial testing of both
geophysical and new exploration targets (RC holes). Initial results
of the first 18 RC holes are tabulated above in Table 1. Core
results in the Church Area are still awaited, along with the RC
results from drilling of the Church Extension and other identified
geophysical targets.
Carl Hering, President and CEO of ICN Resources, commented that,
"Given the fact that all of these holes are in new areas not
previously tested by ICN and only have limited historic drilling,
we are quite pleased with the results of this first pass test. In
addition, we also await the results of both the core and RC
drilling yet to come, specifically in the area of our previous high
grade discovery."
The drill holes reported in Table 1 are grouped based on the
areas in which they were drilled. The first holes reported are
located in the area referred to as the Newmont Lode, and were
designed to test for near surface mineralization above the 300 foot
level where Newmont mined ore averaging 17 g/t (0.5 opt) in the
late 1940's and early 1950's. Phase I ICN drilling located multi
ounce high grade from surface drilling, at 17 metres depth, above
the Church workings, and this current drilling also produced
intercepts at shallower depths than the old Newmont workings, most
notably, hole ICR-032 which contained 21.3 metres of 2.20 g/t Au,
less than 60 metres vertically from surface.
Drilling in the vicinity of the January Shaft, west of the
January-Combination open pit, along the claim boundary with
International Minerals Corporation generated a near surface
intercept of 12.2 metres at 1.56 g/t Au. Other drill holes located
within 50 metres of the western edge of the open pit produced less
encouraging results, although hole ICR-039, located approximately
50 metres southwest of the pit margin, encountered strong
mineralization along the walls of old workings (see Table 2 below).
Encountering this extent of workings was unanticipated, but does
demonstrate that good ore did exist in this area.
Intercepts in holes ICR-044 and ICR-046 come from an area east
of the Silver Pick Shaft. The two holes lie approximately 50 metres
apart in a north-south direction and both have near surface
intercepts, including hole 44 which reported 13.7 metres of 6.63
g/t Au, starting at a depth of 12.2 metres and including 1.5 metres
at 28.3 g/t Au.
Table 2. Results from Drill Hole ICR-039
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TD From To Interval Au
Hole ID Bearing Angle (m) (m) (m) (m) (g/t) Comments
----------------------------------------------------------------------------
ICR-039 - vertical 91.5 0.0 6.1 6.1 0.58
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6.1 21.3 15.2 workings no sample
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21.3 22.9 1.5 1.10
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22.9 25.9 3.0 workings no sample
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25.9 27.4 1.5 1.17
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27.4 35.1 7.6 workings no sample
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35.1 39.6 4.6 2.90
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39.6 47.3 7.6 workings no sample
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47.3 53.4 6.1 3.87
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53.4 56.4 3.0 workings no sample
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56.4 64.0 7.6 1.15
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QAQC
All sampling on the Goldfield Bonanza Project follows National
Instrument 43-101 -- Standards of Disclosure for Mineral Projects
("NI 43-101") accepted principles and is being conducted by ICN
personnel or consultants. Assays for the RC holes were completed at
American Assay Labs, Reno, Nevada, an accredited lab. Initial
one-ton fire assay with atomic adsorption finish is completed for
all samples, and subsequently, for samples in excess of 10 g/t, a
conventional gravimetric assay is conducted. ICN randomly inserts
blind standards, blanks and duplicate control samples to monitor
laboratory performance. Results reported herein have been checked
and have undergone quality control review.
Tim Percival, CPG and a P.Geo., a Qualified Person as defined by
National Instrument 43-101 and Chief Geologist for the Company, has
reviewed and approved the technical information contained in this
news release.
About ICN Resources
ICN is primarily focused on exploration for volcanic-hosted
precious metal deposits in western Nevada, emphasizing targets with
geological similarities to Sleeper, Sandman, Hollister, Midas and
Aurora. ICN plans to explore the feeder zones associated with large
low-grade gold and silver systems, as well as explore for high
grade deposits at the new Goldfield Bonanza Project located in
western Nevada. ICN continues to evaluate opportunities in
established metallogenic belts elsewhere in the United States. The
ICN management and geological team have extensive experience in
Nevada and worldwide, utilizing this experience to generate prime
opportunities for ICN shareholders.
On Behalf of the Board of Directors of ICN Resources Ltd.,
Carl Hering, President & CEO
ICN Resources Ltd.
The forward-looking information contained in this press release
is made as of the date of this press release and, except as
required by applicable law, ICN does not undertake any obligation
to update publicly or to revise any of the included forward-looking
information, whether as a result of new information, future events
or otherwise. By its very nature, such forward-looking information
requires ICN to make assumptions that may not materialize or that
may not be accurate. This forward-looking information is subject to
known and unknown risks and uncertainties and other factors, which
may cause actual results, levels of activity and achievements to
differ materially from those expressed or implied by such
information.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: ICN Resources Ltd. Tasso Baras 1-877-738-3882 or
604-738-3882www.icnresources.com
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