-- Iconic Minerals (ICM.V) shares rose 10% on Friday after completion of preparations for a major drilling program at the New Pass gold property in Churchill County, Nevada.
American Drilling Corporation of Spokane, Washington, which has been contracted to provide HQ core drilling at New Pass, has mobilized its drilling equipment to the property and is expected to arrive within the next seven days, it said. New Pass is being explored under a joint venture agreement with McEwen Mining (MUX.TO) with Iconic as the operator.
The exploration program will test extensions of the current resource and geophysical anomalies identified in a recent survey, the company said. The 2,140-hectare property is located along a prospective Carlin-type gold trend about 150 miles east of Reno.
Shares of the company were last seen up $0.01 at $0.105 on the TSX Venture Exchange.
Price: $0.11, Change: $+0.01, Percent Change: +10.53%