Ironwood Gold to Proceed With 18-Hole, 6000m Drill Program at Falcon Property, Carlin Trend, Nevada
February 21 2012 - 4:15PM
Marketwired
Ironwood Gold Corp. (OTCBB: IROG) ("Ironwood" or the "Company")
wishes to advise of plans to proceed with an 18-hole, 6000 meter
drilling program after receiving a favorable assessment from
Snowden Mining Industry Consultants Inc. ("Snowden"). The Company
is pleased to announce that Snowden successfully completed its 2011
fieldwork and geophysical surveys enabling the completion and
delivery of an in-depth Preliminary Assessment on the company's
Falcon Mine gold prospect.
Based on the results from surface mapping, sampling and a
geophysical program, Snowden has identified a number of significant
mineralization targets that are recommended as warranting a follow
up exploration drilling program. Snowden strongly recommends that
the proposed models be tested with a next phase of exploration
drilling. The exploration work completed to-date suggests that the
Falcon mine property has potential to host three types of economic
mineralization. These are:
1. Shallow volcanic hosted, low sulphidation, low grade
mineralization (open pit).
2. Deeper, volcanic hosted, Midas-type, low sulphidation high
grade mineralization (underground).
3. Deeper, sediment hosted, Meikle-type high grade
mineralization (underground).
Murray Lytle, P.Eng Divisional Manager of Snowden Mining
Industry Consultants, stated, "Snowden commenced the Falcon mine
exploration project to find indicators for Carlin-type
mineralization. The geophysical and sampling efforts undertaken
have resulted in very strong, coincident anomalies (geophysics,
soil analysis and rock chip sampling), which support models for
three different mineralization styles including potential for
sediment-hosted gold mineralization. The highly anomalous soil
sampling grades were particularly encouraging. Snowden has
identified 18 drill-hole targets and strongly recommend a next
phase of exploration to test the subsurface mineralization of the
coincident anomalies and is optimistic about the potential for
exploration success."
Ironwood is in the process of appointing a drilling contractor
in conjunction with Snowden as consultants. We plan to commence
drilling once favorable weather conditions persist.
Ironwood's CEO, Bezhad Shayanfar, states, "We are delighted with
the results from our efforts on the ground. Furthermore we are
actively engaging a number of resource-focused potential investors
with the view to fund both the current exploration program at the
Falcon Mine and potential future acquisitions."
The Falcon Mine property is located in an area bordered by
claims held by major global mining operators at the northern end of
the Carlin Trend gold belt, the most prolific gold producing area
in the USA and the 2nd most productive gold region in the world. A
copy of the report and a detailed description of the property is
available here:
http://www.ironwoodgold.com/projects/redwood.aspx.
Additional details regarding the Company and its agreements are
filed as part of the Company's continuous public disclosure as a
reporting issuer under the Securities Exchange Act of 1934 filed
with the Securities and Exchange Commission's ("SEC") EDGAR
database. For more information visit: www.ironwoodgold.com.
ABOUT IRONWOOD GOLD CORP. (OTCBB: IROG)
Ironwood Gold Corp. is a mineral exploration and development
company building a portfolio of prospective properties containing
known deposits of strategic precious metals in politically stable,
mining-friendly North American districts with recognized production
histories. For more information visit: www.ironwoodgold.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that
term is defined in Section 27A of the United States Securities Act
of 1933, as amended and Section 21E of the Securities Exchange Act
of 1934, as amended. Statements in this press release which are not
purely historical are forward-looking statements and include any
statements regarding beliefs, plans, expectations or intentions
regarding the future. Such forward-looking statements include,
among other things, the development, costs and results of new
business opportunities. Actual results could differ from those
projected in any forward-looking statements due to numerous
factors. Such factors include, among others, the inherent
uncertainties associated with new projects and development stage
companies. These forward-looking statements are made as of the date
of this news release, and we assume no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements. Although we believe that any beliefs, plans,
expectations and intentions contained in this press release are
reasonable, there can be no assurance that any such beliefs, plans,
expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should
also refer to the risk factors disclosure outlined in our annual
report on Form 10-K for the most recent fiscal year, our quarterly
reports on Form 10-Q and other periodic reports filed from
time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD
Ironwood Gold Corp.
-----------------------------
Behzad Shayanfar, CEO
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Investor Information: Red Oak Communications, Inc. Phone:
1-888-356-4942 Email: info@ironwoodgold.com Web:
www.ironwoodgold.com