ICONIC MINERAL CO., LTD (TSXV: ICM; OTCCP: ICMFF; Drilling is continuing at the New Pass gold property in Churchill County, Nevada, and core samples from the first six drill holes of the 2026 program have been prepared and submitted for analysis, FSE (YQG) reported. The 2,140-hectare property is located along a potential Carlin gold trend about 150 miles (240 km) east of Reno.
To date, more than 1,900 feet (580 meters) of core drilling has been completed at nine drill sites. All nine holes drilled to date intersect a limestone unit that hosts the Carlin-type gold mineralization targeted by the program. The core correlates well with nearby historical drilling logs and is divided into quadrants to ensure material remains for future mineralogical testing.
Samples from the first six holes were sent to ALS in Reno for gold and silver analysis. In addition, some representative holes will undergo multi-element analysis to provide additional geochemical information on the mineralization system.
Richard Kern, President and CEO, said: “The drilling program at New Pass continues to progress as planned. Our team has streamlined core processing and sampling to efficiently transport material to the laboratory while maintaining stringent quality standards. American Drilling has done an excellent job under the challenging drilling conditions typical of Carlin-type systems. We look forward to receiving the assay results and incorporating them into our understanding of the deposit.”
Drilling has been completed at nine locations with platforms for an additional 11 holes established. All holes are drilled in N70SE, -45S. The holes are designed to test the mineralized zone to the southwest, which is up to 250 feet (76 m) thick. The stratigraphic section consists of rhyolite tuff overlying the limestone.
Gold and silver mineralization occurs primarily along the contact zone between rhyolite tuff units and limestone and extends into the underlying limestone. The limestone is often altered to jasperoid, and the siliceous contact zone is intense. The pulp is transported securely to Reno, Nevada for logging and core cutting before being sent to ALS in Reno for fire screening as 10-foot (3.05 m) samples.
The New Pass Gold Property is located within Nevada’s Basin and Range Province along the highly prospective Sulfur-Lovelock-Austin structural gold trend, an area known to host Carlin-type gold systems.
The property was initially explored in 1980, when arsenic anomalies in river sediments led to the discovery of the gold-bearing jasperid system. Significant intervals of Carlin-type gold-silver mineralization have since been identified, demarcating the New Pass Au-Ag deposit since that time, with more than 131,000 ft (40,000 m) drilled across 329 drill holes.
The New Pass Au-Ag deposit represents a classic Carlin-type system, with mineralization hosted primarily within siliceous rocks and jasperoids developed in decalcified limestone of the Lower Triassic Mount Augusta Formation. A major structure trending north-northwest to southeast, separating Triassic limestones from younger Tertiary volcanic rocks, served as a major conduit for hydrothermal circulation, alteration, and gold and silver deposition.
The deposits protrude to the surface and have been drilled along about 0.8 mi (1.25 km) of strike length, with the deepest drilling point reaching a vertical depth of about 1,000 ft (295 m). The shallow-gradient tabular deposits to the west remain open along strike in both directions and at depth, offering significant upside exploration.
Inferred Resource Summary (Paul D. Noland, CPG, September 3, 2010): Total short tons: 15,515,488; Average AuEq grade: 0.022 oz/ton; Contains AuEq: 341,750; Average silver grade: 0.202 oz/t; Existing ounces of silver: 3,139,054; Average gold grade: 0.018 oz/t; An ounce of gold contains: 282,986.
The New Pass deposit hosts an inferred mineral resource demonstrating the size and continuity of the mineralized system identified to date. Historical reports NI 43-101 identify an inferred resource containing gold and silver mineralization within an oxide-dominated near-surface system. This existing resource provides a technical basis for continued exploration, with mineralization remaining open along strike and at depth. The combination of a specific resource and multiple untested goals supports the potential for beneficial resource growth through continued exploration.
Iconic Minerals is a Nevada-based gold exploration company that develops high-potential assets in proven mining areas. The company’s flagship New Pass Gold Property hosts an identified resource with significant expansion potential.
