International Iconic Gold Exploration Corporation (TSXV:
ICON) (OTC
: MFMLF)
(FRA:
MMRB) (“
Iconic Gold” or the
“
Company”) announces that, in coherence with
is new business development plans, it has embarked on a preliminary
bench-scale metallurgical study program (the
“
Program”) of its wholly owned San Roque Gold
endowed low-sulphidation epithermal polymetallic mineral deposit
(“
San Roque”). The property is located in
Northeast Patagonia near the Atlantic coast in the Province of Rio
Negro, Argentina, and is held by Minas San Roque S.A., a wholly
owned subsidiary of the Company.
The main objective of the Program is to
determine the practicability of recovering the metallic minerals
and metal elements, mainly gold, from the San Roque deposit.
Another objective is to gain data which the Company intends to use
to convert as much of the project’s National Instrument 43-101 –
Standards of Disclosure for Mineral Projects (“NI
43-101”) Inferred Mineral Resources (see the Company’s
SEDAR filing of September 12, 2019 – Technical Report (the
“Technical Report”)) possible, to a higher
resource category (Indicated or Measured, as such terms are defined
the Canadian Institute of Mining, Metallurgy and Petroleum),
thereafter to be potentially applied in the preparation of a
Preliminary Economic Assessment (or “PEA”) for a
potential mining project.
“Our NI 43-101 technical results for San Roque
showed 1,499,900 ounces of Gold Equivalent,” commented Robert
Abenante, President and CEO of Iconic Gold. “We believe by
performing metallurgy, we can increase the resource categories and
even potentially be in a position to prepare a PEA on the project,
which will significantly increase its value,” continued Mr.
Abenante.
Iconic Gold has retained two leading industry
recognized service companies to conduct the Program. The primary
contractor is SGS Canada, Inc. (“SGS”), who has
been engaged by the Company to conduct the bench-scale
metallurgical tests and report those findings, and secondarily
Tetra Tech Canada Inc. (“Tetra
Tech”), whose contract is to provide technical
oversight of SGS’ test work as it progresses on behalf of the
Company. SGS has an 80-year background of metallurgical testing in
Canada and Tetra Tech is a prominent, global geologic and
engineering consulting firm.
The Company has provided SGS with 215 kilograms
of San Roque drill core samples for the Program. This material
consisted of 61 core splits of original assay sample run intervals
that represent about 58 meters of quartered HQ size drill cores and
was obtained from 19 widely spaced drill holes. These samples were
selected by Tetra Tech in such a way so as to fairly represent all
four Inferred Mineral Resource zones as defined in the Technical
Report as well as the down hole oxidized, transition oxide to
sulfide, and sulfide portions of each of those mineral zones, save
one where the transition section could not be clearly defined.
SGS has blended all 61 of those samples into 13
composite samples to be used as feed for individual tests aimed at
characterizing the extractive metallurgy of the various oxidized
and unoxidized portions in each of the four identified resource
zones. The key Program deliverables of the SGS preliminary
metallurgical study will involve all of the 13 composited San Roque
core samples and include:
- Sample Preparation
and Characterization (crushing, blending and assaying including
metallic screen assaying for gold)
- Determinative Mineralogy by
Scanning Electron Microscopy (includes Gold characterization)
- Grindability (for determining rock
hardness (work index), and sulfide deportment and liberation)
- Gravity Separation (for recovery of
free or particulate Gold)
- Batch Flotation (create flow sheet
configurations for Rougher & Cleaner sulfide concentrate
extractions)
- Cyanide Precious Metals Leaching
(bottle roll method)
- Modified Acid Base Accounting
(determining the sulfur (aka acidity) of flotation and/or cyanide
leach tailings to determine it neutralization potential)
The Company believes this early-stage
bench-scale metallurgical test work will provide an indication of
payable metal recovery as well as an indication of tailings
characterization in terms of acid rock drainage, both of which will
play large rolls in determination of the potential economic
viability of the San Roque mineral deposit. At this point, the
Program is progressing smoothly in a timely manner with the
laboratory work expected to be completed sometime in early
December, and the publishing of a final report by the end of the
year. In the interim, the Company intends to issue periodic updates
of the Program’s status.
Qualified Person
The technical information disclosed within this
news release has been prepared by Richard R. Walters, Executive
Vice President of International Iconic Gold and has approved the
disclosures herein. Mr. Walters is a Qualified Person as defined in
NI 43-101, and is the person under whose directions the San Roque,
Argentina exploration program has been and is being carried out.
Mr. Walters is a certified Professional Geologist by the American
Institute of Professional Geologists (AIPG) and holds a Legion of
Honor Membership in the Society for Mining, Metallurgy and
Exploration (SME).
ON BEHALF OF ICONIC GOLD
Robert Abenante,President & CEO
Email:info@iconicgold.com Website:
www.iconicgold.com
For further information regarding International Iconic Gold
Exploration Corp., please refer to the Company’s filings available
on SEDAR (http://www.sedar.com) or at ICON’s Website
(http://www.iconicminerals.com)
Disclaimer for Forward-Looking
Information
Certain statements in this release are
forward-looking statements, which reflect the expectations of
management regarding the Company. Forward-looking statements
consist of statements that are not purely historical, including any
statements regarding beliefs, plans, expectations or intentions
regarding the future, including but not limited to, the anticipated
design, timeline, and contents of the Program, statements regarding
the potential economic viability of the San Roque mineral deposit,
the Company’s ability to upgrade San Roque’s Inferred Mineral
Resources to a higher resource category, the production of a PEA on
San Roque, and the Company’s intention to provide periodic updates
of the Program’s status. Forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the Company to
differ materially from any future results, performance or
achievements expressed or implied by the forward-looking
information. Such risks and other factors include the inability of
the Company to execute its business plans and carry out planned
future activities, including those related to the Program and, more
specifically, its design, timeline, and contents. The novel strain
of coronavirus, COVID-19, also poses new risks that are currently
indescribable and immeasurable. Other factors may also adversely
affect the future results or performance of the Company, including
general economic, market or business conditions, future prices of
gold or other precious metals, changes in the financial markets and
in the demand for gold or other precious metals, changes in laws,
regulations and policies affecting the mineral exploration
industry, and risks related to the Company’s investments and
operations in the mineral exploration sector, as well as the risks
and uncertainties which are more fully described in the Company’s
annual and quarterly management’s discussion and analysis and other
filings made by the Company with the Canadian securities regulatory
authorities under the Company’s profile on SEDAR. Readers are
cautioned that forward-looking statements are not guarantees of
future performance or events and, accordingly, are cautioned not to
put undue reliance on forward-looking statements due to the
inherent uncertainty of such statements. These forward-looking
statements are made as of the date of this news release and, unless
required by applicable law, the Company assumes no obligation to
update the forward-looking statements or to update the reasons why
actual results could differ from those projected in these
forward-looking statements.
Neither 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.
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