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Iconic Minerals Starts Drilling at the New Pass Gold Property in Nevada

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Iconic Minerals (ICM.V) on Thursday said it launched an exploration-drilling program at its New Pass Gold Property in Nevada.

The program is designed to test extensions of a mineralized zone that has already been defined over more than 3,000 feet of strike length and remains open along strike and at depth.

New Pass is being explored under a joint venture agreement with McEwen Mining (MUX.TO) with Iconic serving as operator.

"We are excited to have drilling underway at New Pass as we target extensions of the mineralized zone," said chief executive Richard Kern. "Core recovery has been excellent, and the drilling is helping define the structure and alteration associated with the system. We have already identified a decalcified and silicified limonite-stained section that we believe represents the mineralized zone. Importantly, the geological characteristics intercepted to date appear analogous to Carlin-type mineralized structures found elsewhere in Nevada."

Iconic Minerals shares were last seen up $0.005 to $0.085 on the TSX Venture Exchange.

Price: $0.09, Change: $+0.01, Percent Change: +6.25%

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