Iconic Announces Completion of Drilling Program for Hercules Project; Shares Jump 40%

By Midnight Trader,  September 18, 2012, 02:20:37 PM EDT

Iconic Minerals Ltd. (ICM.V) announced the completion of its drilling program at its Hercules Project, Nevada, which included 12 reverse circulation drill holes and eight core holes for a total of 2,021 metres.

The drilling was primarily situated to test the four areas of known mineralization designated as the Hercules, West Cliffs, Loaves and Northeast targets.

Iconic's 2012 drill program encountered significant widths of typical heap-leachable grade gold/silver mineralization in all but two holes.

Additional road cut mapping and sampling was carried out during the drilling program. This work identified both high grade gold and silver in narrow veins and confirmed wider zones of silicified volcanic rock with lower grades of gold and silver.

ICM shares jumped two cents, or 40%, to $0.07.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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