July 20, 2011
Iron Creek Provides Pampa Buenos Aires and Pampa Sur Update; Vein Float Samples Return up to 9.97g/t Au
VANCOUVER, July 20, 2011 /PRNewswire/ - Iron Creek Capital Corp. (TSX-V: IRN -
"Iron Creek") is pleased to provide an update on exploration progress
at the Pampa Sur property (100% IRN), and the contiguous Pampa Buenos
Aires property (a 50:50 joint venture with Andina Minerals Inc. TSX-V:
ADM - "Andina"). The properties are being explored principally for El
PeÃ±on-style gold and silver bearing epithermal veins, and also for
possible porphyry copper systems.
-- Sampling of epithermal quartz-vein float material on the surface of post-mineral gravel-covered pampas returned values from trace up to 9.97g/t Au; 22.4g/t Ag; 3,890ppm As; and 114ppm Sb, coincident with some of the principal geochemical and geophysical anomalous trends -- CSAMT geophysical survey results have defined a series of high resistivity anomalies interpreted to reflect broad areas of silicification and alteration possibly related to an epithermal system below surface -- The principal geophysical anomalies are broadly coincident with major antimony and arsenic geochemical anomalies in colluvium and soil previously reported
The combination of the geochemical and geophysical results is extremely
encouraging. Major anomalous trends occur in both data sets, and many
of the principal anomalies are wholly or partially coincident. The
occurrence of metal-bearing epithermal quartz-vein float material
coincident with some of the principal geochemical and geophysical
anomalies may indicate the presence of mineralized epithermal quartz
veins in the bedrock beneath the gravel cover. Iron Creek's geological
team is now drawing up plans to drill test the best anomalies.
Geochemical and geophysical maps are available on IRN's website at www.ironcreekcapital.com.
Grab Samples of Vein Float
Iron Creek's geologists collected samples of epithermal quartz-vein
float material at surface in several locations on the gravel-covered
pampas. The vein float occurs along linear trends coincident with some
of the principal colluvial and soil geochemical anomalies, and CSAMT
anomalies. The assay results show that many samples are anomalous in
gold, silver, arsenic and antimony with values ranging from trace to
9.97g/t Au and 22.4g/t Ag.
Of 65 samples of vein float material, 15 returned anomalous gold - from
trace up to 9.97ppm; 20 returned anomalous silver - from trace up to
22.4ppm; 63 returned anomalous arsenic - up to 3,890ppm; and 34
returned anomalous antimony - up to 114ppm. Arsenic and antimony are
common pathfinder elements for low sulphidation quartz veins.
The highest gold result (9.97g/t Au), coincident with elevated silver
and arsenic, came from epithermal quartz-vein float material collected
towards the northern end of the Pampa Buenos Aires concession,
coincident with the presumed trace of the Dominador Fault Zone. Other
samples anomalous in silver, arsenic, antimony and minor gold are
clustered on the western and eastern sides of the Pampa Sur concession,
associated with colluvial and soil geochemical anomalies, and CSAMT
Twenty-six (26) line kilometers of Controlled Source Audio-Frequency
Magnetic-Telluric (CSAMT) surveying were completed along three
east-west oriented survey lines at Pampa Sur, and 55 line kilometers of
CSAMT surveying completed along five east-west oriented survey lines at
the Pampa Buenos Aires property. Survey line spacings were wide,
ranging from 2.5km to 4.0km.
The surveys were designed to: 1) follow-up extensive surface colluvial
and soil geochemical anomalies on the properties; 2) to help define the
normally resistive features that may host epithermal quartz veins
beneath the extensive post-mineral gravel cover; and 3) to test for
similar features beneath a silica cap at Cerro Buenos Aires within the
Pampa Buenos Aires property.
Relatively high resistivity anomalies aligned along structures can
identify broad areas of silicification caused by an epithermal system.
Precious metals bearing quartz veins are known elsewhere in the
district to be emplaced into or adjacent to such high resistivity
The CSAMT survey defined a series of relatively high resistivity
anomalies, some of which are continuous between profiles despite the
wide line spacing. Critically, some of the best CSAMT high resistivity
anomalies coincide with strong surface colluvial and soil geochemical
anomalies, suggesting that they may reflect silicified zones or
structural features related to potentially mineralized veins at depth.
At Cerro Buenos Aires, a significant series of resistivity anomalies
coincide with an outcropping silica cap which is interpreted to
represent the highest levels of an epithermal system. Importantly, a
series of deeper, sub-vertical high resistivity anomalies indicate the
possible presence of epithermal-related alteration zones beneath the
silica cap. Cerro Buenos Aires is highly anomalous at surface in
arsenic and antimony, with minor mercury, silver and gold.
The principal geophysical anomalies were determined from both the CSAMT
modelled profiles, and from a series of modelled depth slices of
resistivity at -50m, -100m, -200m and -300m depths. These principal
geophysical anomalies were integrated and compared with the known
geochemical anomalies, historic airborne and ground magnetics data, and
with mapped geology and areas of hydrothermal alteration.
Exploration & Drilling Plans
Iron Creek is soliciting tenders for a preliminary 3,000m reverse
circulation (RC) drilling programme at Pampa Sur, and a further 3,000m
RC programme with Andina at Pampa Buenos Aires. Iron Creek hopes that
preliminary drill testing of the highest priority anomalies at Pampa
Sur can start in late August or early September, with drilling of the
priority anomalies at Pampa Buenos Aires to follow immediately
afterwards. Further drilling and in-fill geophysics will be planned
based on results, and after consultations with Iron Creek's joint
venture partner as relevant.
About Pampa Sur and Pampa Buenos Aires
The 11,300ha Pampa Sur Property together with the 34,450ha Pampa Buenos
Aires Property in northern Chile cover more than 30km of continuous
strike length of the prospective Dominador Fault Zone (DFZ) in the
Palaeocene-Eocene volcanic belt, which is prospective for El PeÃ±on /
Fortuna and Guanaco-style epithermal gold and silver mineralization and
also for possible porphyry copper mineralization. The northern boundary
of the property package is located approximately 15km southwest of
Yamana's El PeÃ±on and Fortuna deposits (+7 million oz Au and +200
million oz Ag). The properties are located immediately adjacent to the
Pan American highway with easy access.
Geochemical samples are collected in accordance with accepted industry
standards and best practices. Samples are submitted to ALS Chemex
Laboratories in La Serena, Chile, for preparation by PREP31 (250gr),
with digestion by aqua regia and analysis for 35 elements by ICP-AES
(ME-ICP41). Gold is analyzed by 50gm fire assay (Au-AA24). As standard
procedure, Iron Creek conducts routine quality-assurance and
quality-control analysis on all assay results, including the systematic
utilization of certified reference materials, blanks and field
The geophysical surveying work was carried out by Zonge Ingenieria y
Geofisica (Chile) S.A. ("Zonge"), a company widely recognized as having
particular expertise in this type of geophysical data acquisition. The
geophysical work was monitored on behalf of Iron Creek and Andina by
Mr. Robert Ellis of Ellis Geophysical Consulting Inc. Mr. Ellis has
extensive experience in this type of geophysical surveying, in
particular for the exploration of low-sulphidation epithermal veins of
the El PeÃ±on type.
Demetrius Pohl, P. Geo., is the Company's Qualified Person as defined by
National Instrument 43-101, and is responsible for the accuracy of the
technical information in this news release.
About Iron Creek
Iron Creek Capital Corp. is a Vancouver-based mineral exploration
company engaged in the acquisition and exploration of precious and base
metals projects in Chile.
ON BEHALF OF THE BOARD
"Timothy J. Beale"
Timothy Beale, President
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.
Some of the statements in this news release contain forward-looking
information that involves inherent risk and uncertainty affecting the
business of Iron Creek Capital Corp. Actual results may differ
materially from those currently anticipated in such statement.
SOURCE Iron Creek Capital Corp.