Additional Surface Gold/Silver Sampling Results Announced for the Hercules Project, Nevada
Vancouver, BC / TheNewswire / August 4, 2015 - Iconic Minerals Ltd. (the "Company" or "Iconic") ((TSX-V: ICM) (FSE: YQG) announces it has received initial outcrop rock chip channel sampling results for the Loaves and Northeast targets at its Hercules Project ("Hercules"), located approximately 17 km (10.6 miles) east-southeast of the Comstock District in Lyon County, Nevada. Like the results from the two targets released to date (see July 8th and July 22nd press releases) the additional results have numerous intercepts of gold/silver grades consistent with gold/silver heap leaching in Nevada. Summary sampling results are shown in the table below.
Outcrop sampling at Loaves was done over a strike length of 830 metres (2,700 ft.) and average width of 200 metres (650 ft.). Outcrop sampling at Northeast was done over a strike length of 650 metres (2,100 ft.) and average width of 100 metres (330 ft.). A total of 165.6 metres (543 ft.) of heap leach grade gold/silver values (>= 0.005 oz/ton (0.17 g/t) gold equivalent) have been defined on surface at these two targets. This mineralization, which will have a minimal stripping ratio, will be used along with drilling and underground sampling results to define a NI 43-101 resource. A map showing the extent of the alteration, veining and sample line locations is available on the Company's website. Like several other epithermal hot springs occurrences in Nevada, Hercules veins exposed at the surface are primarily low temperature quartz, indicating the boiling zone where most gold/silver deposition occurred is at depth.
South of the sampled portion of the Northeast Target there is an additional 700 metres (2,300 ft.) of poorly outcropping alteration that is not suitable for rock chip sampling. Several mineralized drill holes occur within this area. This indicates a significant portion of the mineralization does not outcrop.
Several surface sample lines will be extended using an excavator. Surface geologic mapping, and mapping and sampling of underground workings at the Hercules Target are ongoing. Underground sampling results are expected within two-three weeks and will be published soon after they are received. All of these results will be used to finalize a drilling program planned later this year.
Hercules is a Comstock-type target, with strong potential for bulk minable, heap leachable gold/silver mineralization (+0.2 g/t Au) at surface, as well as potential high-grade (+10 g/t Au, to bonanza-grade (+68 g/t Au) at depth. Analogous to Comstock, the level of erosion at Hercules is slightly less than at Comstock as shown by a higher gold/silver ratio at Hercules. Therefore, any potential of high grade veins can be expected at greater depths than at Comstock.
| 2015 Trench Results Loaves / NE Targets (>= 1.5 feet @ >= 0.005 oz/ton gold equivalent) 07/28/15 | ||||||||||
| Hole No. | From | To | Interval | True | Gold | Silver | True | Gold | Silver | Au Equiv. |
| (feet) | (feet) | (feet) | Width (ft.) | (oz/ton) | (oz/ton) | Width (m) | (g/t) | (g/t) | (oz/ton) | |
| HTL1A | 5 | 10 | 5.0 | 3.2 | 0.008 | 0.0 | 0.98 | 0.271 | 0.9 | 0.008 |
| HTL1 | 25 | 30 | 5.0 | 4.9 | 0.013 | 0.2 | 1.50 | 0.432 | 6.7 | 0.016 |
| HTL1 | 60 | 65 | 5.0 | 4.9 | 0.005 | 0.0 | 1.50 | 0.176 | 1.0 | 0.006 |
| HTL1 | 122 | 130 | 8.0 | 7.9 | 0.015 | 0.1 | 2.40 | 0.508 | 2.2 | 0.016 |
| HTL1 | 141.5 | 145 | 3.5 | 3.4 | 0.049 | 0.3 | 1.05 | 1.670 | 11.0 | 0.054 |
| HTL1 | 165 | 201 | 36.0 | 35.5 | 0.016 | 0.1 | 10.81 | 0.552 | 4.7 | 0.018 |
| HTL2 | 33.5 | 38 | 4.5 | 4.2 | 0.008 | 0.0 | 1.29 | 0.266 | 1.6 | 0.009 |
| HTL2 | 141 | 178 | 37.0 | 34.8 | 0.005 | 0.0 | 10.60 | 0.164 | 0.9 | 0.005 |
| HTL2 | 203 | 223 | 20.0 | 18.8 | 0.012 | 0.1 | 5.73 | 0.408 | 1.9 | 0.013 |
| HTL2 | 233 | 241 | 8.0 | 7.5 | 0.008 | 0.1 | 2.29 | 0.285 | 2.9 | 0.010 |
| HTL2 | 265 | 277 | 12.0 | 11.3 | 0.005 | 0.0 | 3.44 | 0.172 | 1.7 | 0.006 |
| HTL3 | 0 | 3 | 3.0 | 3.0 | 0.008 | 0.1 | 0.90 | 0.290 | 3.0 | 0.010 |
| HTL3 | 20 | 48 | 28.0 | 27.6 | 0.009 | 0.0 | 8.41 | 0.297 | 1.3 | 0.009 |
| HTL3 | 61.5 | 76.5 | 15.0 | 14.1 | 0.005 | 0.0 | 4.30 | 0.175 | 1.5 | 0.006 |
| HTL3 | 86.5 | 109.5 | 23.0 | 21.6 | 0.005 | 0.0 | 6.59 | 0.166 | 1.3 | 0.005 |
| HTL3 | 131 | 193.5 | 62.5 | 62.3 | 0.012 | 0.1 | 18.97 | 0.424 | 2.2 | 0.013 |
| HTL3 | 203.5 | 209.5 | 6.0 | 6.0 | 0.007 | 0.1 | 1.82 | 0.242 | 2.0 | 0.008 |
| HTL3 | 225 | 255 | 30.0 | 29.9 | 0.010 | 0.1 | 9.11 | 0.328 | 2.2 | 0.011 |
| HTL3 | 263 | 275 | 12.0 | 12.0 | 0.005 | 0.1 | 3.64 | 0.155 | 1.8 | 0.005 |
| HTL4 | 0 | 10 | 10.0 | 10.0 | 0.006 | 0.0 | 3.05 | 0.214 | 1.4 | 0.007 |
| HTL5 | 0 | 14.5 | 14.5 | 14.0 | 0.010 | 0.0 | 4.27 | 0.353 | 1.6 | 0.011 |
| HTL5 | 34 | 41.5 | 7.5 | 7.5 | 0.006 | 0.0 | 2.29 | 0.192 | 0.7 | 0.006 |
| HTL5 | 50 | 75 | 25.0 | 23.5 | 0.007 | 0.0 | 7.16 | 0.229 | 1.1 | 0.007 |
| HTL6A | 13 | 18 | 5.0 | 4.9 | 0.007 | 0.0 | 1.50 | 0.247 | 1.3 | 0.008 |
| HTL6A | 34 | 39 | 5.0 | 4.9 | 0.006 | 0.1 | 1.50 | 0.199 | 3.7 | 0.008 |
| HTL6B | 0 | 26 | 26.0 | 25.6 | 0.006 | 0.1 | 7.81 | 0.195 | 2.1 | 0.007 |
| HTL6C | 0 | 10 | 10.0 | 9.7 | 0.006 | 0.0 | 2.94 | 0.213 | 1.5 | 0.007 |
| HTL6C | 20 | 25 | 5.0 | 4.8 | 0.016 | 0.2 | 1.47 | 0.558 | 5.2 | 0.019 |
| HTL6C | 35 | 42 | 7.0 | 6.8 | 0.008 | 0.1 | 2.06 | 0.283 | 2.1 | 0.009 |
| HTL7 | 0 | 5 | 5.0 | 5.0 | 0.004 | 0.1 | 1.52 | 0.137 | 2.0 | 0.005 |
| HTL7 | 30 | 35 | 5.0 | 5.0 | 0.007 | 0.1 | 1.52 | 0.229 | 2.2 | 0.008 |
| HTL7 | 40 | 50 | 10.0 | 10.0 | 0.016 | 0.1 | 3.05 | 0.557 | 3.0 | 0.018 |
| HTL8 | 5 | 12 | 7.0 | 6.8 | 0.007 | 0.1 | 2.06 | 0.227 | 2.3 | 0.008 |
| HTL9 | 0 | 5 | 5.0 | 4.8 | 0.003 | 0.1 | 1.47 | 0.117 | 1.9 | 0.004 |
| HTL10 | 0 | 9 | 9.0 | 9.0 | 0.013 | 0.2 | 2.74 | 0.446 | 6.0 | 0.016 |
| HTL10 | 20 | 44 | 24.0 | 24.0 | 0.013 | 0.2 | 7.32 | 0.439 | 6.6 | 0.016 |
| HTN1 | 0 | 13 | 13.0 | 13.0 | 0.038 | 0.3 | 3.96 | 1.314 | 10.8 | 0.044 |
| HTN2 | 0 | 13 | 13.0 | 12.2 | 0.007 | 0.1 | 3.72 | 0.235 | 3.2 | 0.008 |
| HTN4 | 0 | 19 | 19.0 | 19.0 | 0.010 | 0.1 | 5.79 | 0.333 | 4.5 | 0.012 |
| HTN5 | 5 | 15 | 10.0 | 10.0 | 0.006 | 0.1 | 3.05 | 0.218 | 2.9 | 0.008 |
| Note: Au Equiv. calculation uses Au/Ag ratio of 1/60 | ||||||||||
Richard Kern, Certified Professional Geologist (#11494) and CEO of Iconic is the Qualified Person who has prepared and reviewed this press release in accordance with NI 43-101 reporting standards.
ON BEHALF OF THE BOARD
SIGNED: "Richard Kern"
Richard Kern, CEO
Contact: (604) 336-8614
For further information on ICM, please visit our website at www.iconicmineralsltd.com
The Company's public documents may be accessed at www.sedar.com
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Iconic expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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