SCOTTSDALE, AZ — (Marketwire) — 02/21/12 — 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:
.
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:
.
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: .
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
Investor Information:
Red Oak Communications, Inc.
Phone: 1-888-356-4942
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