VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/06/11 -- ICN Resources ("ICN" or the "Company") (TSX VENTURE: ICN) is pleased to report initial sample results from a late fall geologic and surface geochemical sampling program at the Rockland-Pine Grove project, located approximately 90 miles south-southeast of Reno, Nevada, in the Walker Lane Volcanic Belt.
The mapping and sampling program was conducted in two separate areas: (1) on strike from the Rockland Mine (both rocks and soils), located in the western portion of the property, and (2) in the East Zone target (two recon soil lines), located approximately 2 miles to the east of the Rockland Mine in the eastern, lower portion of the property.
Rockland Mine Area - Rock Samples
Eleven surface rock samples, primarily, but not exclusively from historic prospect pits in the Rockland target area, returned encouraging results. Six of the eleven samples returned values greater than 9.9 g/t Au, with four of these six samples also returning grades in excess of 100 g/t Ag. The highest grade sample contained 73.3 g/t Au and 679 g/t Ag and was taken from vein material at the collar of an old shaft. The samples were surface grab samples from the western anomaly, lying north of the historic Rockland mine workings. This target area has not been adequately explored in the past, nor has it ever been drill tested. This initial geologic work confirms the presence of high grade, mineralized material along strike of the historic Rockland Mine, in an area with a few historic prospect pits, but no significant mine workings or known past production.
--------------------------------------------------------------------------- Sample # Sample Type Au (g/t) Ag (g/t) --------------------------------------------------------------------------- 28171 1m chip sample; partially caved adit 9.94 170.0 28172 1m chip sample; west rib of same adit 15.85 106.0 28173 Random grab; shaft collar - vein subcrop 73.30 679.0 28174 Selective grab; on dump below shaft collar 20.40 76.8 28175 Random grab; shaft collar 3.77 58.5 28176 Selective grab; prospect pit 9.58 114.0 28177 Random grab; on dump in front of caved adit 1.29 7.2 28178 1m chip subcrop; above projection DH RK-13 10.25 28.9 28179 Selective grab; at caved 900' level adit dump 2.03 35.3 28180 1-2m chip; rhyolite on projection of DH RK-17 0.11 4.4 28181 1m panel chip; outcrop of felsic volcanic unit 0.02 0.2 --------------------------------------------------------------------------- (i) grab samples (either selective or random) are by nature unlikely to represent true average grades.
Soil Samples - Rockland and East Zone Targets
In addition to the above rock samples, five lines of soils (108 samples) were completed on the property. Three lines focused in the main Rockland area with each line averaging 660 meters long with samples collected at 30 meter intervals. Two additional lines (1,000 meters long and sampled at 60 meter intervals) were run over the East Zone target, located approximately 2 miles to the east of the Rockland Mine.
At the main Rockland target, two distinct anomalous zones are apparent from the soil sample results; one is a zone in a dominantly covered area located significantly east of the historic Rockland Mine workings, and the other is a western zone in an area with a few prospects, but with no significant mine workings or any drill holes. The rock chip samples discussed above are from this latter area and together with the preliminary soil data, appear to define a possible concealed vein zone located approximately 75 meters north and parallel to the historic Rockland vein. With additional work, this zone could develop into a significant drill target for 2011 in the main Rockland area.
Two verification soil sample lines were also collected in the East Zone, over an area previously sampled but exhibiting only one minor gold anomaly. The ICN sampling has identified additional and higher grade gold anomalies relative to the previous sampling and with additional sampling, will likely define new drill targets in this covered area. Anomalous gold values (greater than 15 ppb and up to a high of 547 ppb) and arsenic (greater than 30 ppm and up to a high of 562 ppm) were found on the lines. The available historic soil data is believed to be incomplete and appears to locally understate the true magnitude of the gold anomalies. Based on this verification work, an expanded and more detailed follow-up geochemical sampling program is required to better define the anomalies.
Both the rock and soil analyses were completed at ALS Chemex in Reno, NV an ISO:9000 laboratory. Over limit Au and Ag samples from initial FA/AA analyses were subsequently analyzed by Chemex utilizing fire assay with a gravimetric finish. Tim Percival, P.Geo., a Qualified Person as defined by National Instrument 43-101, and a consultant to the Company, conducted the sampling work and has reviewed and verified the technical information contained in this news release.
The surface program will resume at Rockland when weather permits, most likely in the East Zone target area since it lies at lower elevation than the Rockland target area. ICN was not able to complete further work late in 2010 at the Hog Ranch Project due to early winter weather conditions. The Company has however acquired additional historic drill hole data, and this information is being compiled to integrate into the Hog Ranch database.
About ICN Resources
ICN is primarily focused on exploration for volcanic-hosted precious metal deposits in western Nevada, emphasizing targets with geological similarities to Sleeper, Sandman, Hollister, Midas and Aurora in Nevada and El Penon in Chile. ICN plans to explore for the high-grade feeder zones associated with large low-grade gold and silver systems, primarily in western Nevada, but is looking for other opportunities in established metallogenic belts elsewhere in the United States. The ICN management and geologic team have extensive experience in Nevada and will utilize this experience to generate prime opportunities for ICN shareholders.
On Behalf of the Board of Directors of ICN Resources Ltd.
Carl Hering, President & CEO
ICN Resources Ltd.
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, ICN does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. By its very nature, such forward-looking information requires ICN to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.