VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 09/18/12 — Iconic Minerals Ltd. (the Company or Iconic) (TSX VENTURE: ICM)(FRANKFURT: YQG) is pleased to announce the completion of its drilling program at its Hercules Project, Nevada. The program included 12 Reverse Circulation (RC) drill holes and eight core holes for a total of 2,021 meters (6,631 feet). The drilling was primarily situated to test the four areas of known mineralization designated as the Hercules, West Cliffs, Loaves and Northeast targets. The holes were positioned to fill in between existing wide spaced drill holes. A map showing drill hole locations will be posted on the Company-s website shortly.
Iconic-s 2012 drill program encountered significant widths of typical heap-leachable grade gold/silver mineralization in all but two holes. The two holes that failed to encounter mineralization were lost due to caving before reaching their designated depths. Samples were collected from RC drilling on five foot intervals. Although the recovery was generally nearly 100%, areas of faulting contained low recoveries. Core sampling was continuous and divided into specific lengths ranging from 0.3 to 2 meters. Recovery was generally 100% with relatively minor areas of little or no recovery. The summary table below provides details of the drill results by target area.
Additional road cut mapping and sampling was carried out during the drilling program. This work identified both high grade gold and silver in narrow veins and confirmed wider zones of silicified volcanic rock with lower grades of gold and silver. The samples were collected from road cuts and where outcrop was present adjacent to the excavations. Sampling was continuous across outcrop when available. The following table indicates the type of rock, width and direction of surface sampling.
Iconic is encouraged by its confirmation drilling and surface sampling. „These results continue to confirm the presence of broad zones of disseminated mineralization occurring in permeable host rocks peripheral to identified feeder structures and further work is justified to define the extent of possible bulk minable heap leachable mineralization,“ said Richard Kern, CEO of Iconic. The Company plans to permit a much larger drilling program, subject to raising the required funds, that will allow both infill drilling and testing for extensions of the known mineralization.
The Company has an ongoing joint venture with Willow Creek Enterprises, Inc. pursuant to which the Company has an exclusive right and option to acquire up to a 75% interest in the Hercules project (further details are contained in the Company-s news release dated September 21, 2011).
The scientific or technical information in this release has been reviewed and approved by Mr. Herb Duerr, P. Geo., the VP Exploration and a director of the Company and a -qualified person- as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Duerr verified the data disclosed in this news release and he is also the qualified person responsible for the Company-s current work programs conducted on the Hercules property.
QA/QC
Drill core was sawed, with one quarter sent to ALS Minerals in Reno, Nevada and the rest retained for reference and metallurgical studies. Reverse circulation drilling included sampling of individual five foot sample intervals. Sampling included use of a plastic tub to catch all sample, then splitting the sample into two separate bags, one for assay and a duplicate check sample. The samples for assay were transferred to a secure storage facility after each drill shift. The samples were then transported to ALS Minerals Laboratory in Reno when enough samples were collected. The samples were crushed and a 1000g split was pulverized at the laboratory. Aliquots of the pulped sample were then analyzed for Au and Ag. Gold analyses were done using 50g fire assay with AA finish. Silver values were determined using a 4 acid digestion (HF, HNO2, HClO4, HCl). Follow-up analyses were completed on any „over limit“ analyses of gold or silver and additional reruns were made on any gold values over 1,000 ppb. A gravimetric finish is employed where samples returned gold values in excess of 10,000 ppb. ALS Minerals maintains a strict quality control program with standards, blanks and duplicates included with every sample series. Standards and blanks are inserted regularly by MinQuest personnel into the sample series at their storage facilities. The ALS Minerals Reno analytical facility is individually certified to standards within ISO 9001:2008 and has received accreditation to ISO/IEC 17025:2005 from the Standards Council of Canada for the Fire Assay Au by Atomic Absorption method.
On behalf of the Board of Directors
Richard Kern, CEO
For further information on ICM, please visit our website at .
The Company-s public documents may be accessed at .
Forward-Looking Statements:
This note contains forward-looking statements regarding future events and Iconic-s future results. These statements are based on current expectations, estimates, forecasts, and projections about the industry in which Iconic operates and the beliefs and assumptions of Iconic-s management. Words such as „expects“, „anticipates“, „targets“, „goals“, „projects“, „intends“, „plans“, „believes“, „seeks“, „estimates“, „continues“, „may“, variations of such words, and similar expressions, are intended to identify such forward-looking statements. In addition, any statements that refer to projections of Iconic-s future financial performance, Iconic-s anticipated growth and potentials in its business and other characterizations of future events or circumstances are forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict, including those identified elsewhere herein and Iconic-s filings on . Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Iconic undertakes no obligation to revise or update any forward-looking statements for any reason.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Iconic Minerals Ltd. Richard Kern CEO (604) 718-2800 (604) 718-2808 (FAX)
