Ironwood Gold Corp (OTC.BB: IROG) enters LOI for 100% interest in unpatented mining claims in Cassia
Mineral exploration and development company Ironwood Gold Corp (OTC.BB: IROG) said on Wednesday that the company has signed a Letter of Intent (LOI) to acquire a 100% interest in mining operations on 12 unpatented mining claims known as the Artesian Project property.
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This property is located southwest of Twin Falls in Cassia County, Idaho.
Ironwood Gold said that previous exploration work at the Artesian Project indicates that anomalous gold occurs along a zone that is at least 1 mile long and approximately 0.5 miles wide and untested at depth. The resource potential for the Artesian area is placed at a minimum of one million ounces of gold, but will require exploratory drilling to confirm.
The north side of the Artesian Project claim block is currently being explored for disseminated gold by Agnico-Eagle Corporation. Additionally, the Black Pine Mine, located 60 miles to the east and operated by Pegasus in the late 1990s, produced approximately 600,000 ounces of gold by heap leach processing at an average grade of 0.020 oz/ton gold within the same geological formation.
According to Ironwood Gold, excellent potential exists for open pit mining operations within the project area. The company intends to undertake a review of all available data with the aim of uncovering additional targets along the fault zones found in previous mapping.
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This property is located southwest of Twin Falls in Cassia County, Idaho.
Ironwood Gold said that previous exploration work at the Artesian Project indicates that anomalous gold occurs along a zone that is at least 1 mile long and approximately 0.5 miles wide and untested at depth. The resource potential for the Artesian area is placed at a minimum of one million ounces of gold, but will require exploratory drilling to confirm.
The north side of the Artesian Project claim block is currently being explored for disseminated gold by Agnico-Eagle Corporation. Additionally, the Black Pine Mine, located 60 miles to the east and operated by Pegasus in the late 1990s, produced approximately 600,000 ounces of gold by heap leach processing at an average grade of 0.020 oz/ton gold within the same geological formation.
According to Ironwood Gold, excellent potential exists for open pit mining operations within the project area. The company intends to undertake a review of all available data with the aim of uncovering additional targets along the fault zones found in previous mapping.
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