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How many shares are there now outstanding,
25,000,000 or 250,000,000
??
Time for another reverse split and name change.Do not trust this company.Last time they executed r/s without any warning to investors!
IROG's stock priced budged not a penny while the price of gold
cratered 20% in a few days and the big gold stocks prices
dropped to new 52 week lows in near unison.
Held on for over two years and finally
Some light to irog.
Only around 8mil O/S with just 25mil A/S...WOW! Looks good and undiscovered here...I'm in!
News about A Canadian company takeover today???
News about A Canadian company takeover today???
hi, well the lab results we noit that great some ran 0.05 and 0.06 per gold oz per ton. and yes there are mines running on these grades. but in the zip code we are in we should becoming in to some gold 1 oz per ton or higher. the silver results ran from 1/2 oz to 4 oz.....Just not the stuff I get excited over. Painting the kiln room tommorrow so I hope I get bittin by the bug and make a discovery. Iron wood has fallen off the radar with no calls email or investing in the project. I went to royal gold but they told me I was to early in exploration to give us funds. They wanted proven reserves wich are obtained through drill results. So if we can come up with 4.2 million dollars the drilling can begin....I think I will open up a lemonade stand!!! Take care elkomike
It's moved to a higher tier that requires more stringent reporting standards....more transparency...positive development.
Is this on IROG's property?
IROG is now OTCQB as of today, What is your take?
Any news you here?
Hi elco whats going on
After a year and half holding, I been thinking of selling all my shares @ .001
but never got there,
looks a little active today, i'm a little disapointed.
It's been one month since the notification of late filing of 10Q.
Has this stock been delisted?
Thanks, Mike. We appreciate your updates!
Major fire this last week. Burned up the shaft house with the hoist and core samples. Burnt almost the whole 1600 acres of claims.
The good news was that ironwood did not loose any equipment for the drill holes.... they couldn't becasue they have yet to bring any equipment in. What was the $100,000.00 they raised from alpha capital? It wasn't used to pay the falcon group or the $91,000 they aledgly owe the Snowden enginering firm who place a lean on the falcon group for the claims. PS got paperwork to back that one up. The good news is sent in 9 samples for assays on new possable vein. I will post the when they arive in 2-3 weeks. I have become one of the best silver miners around or one of the best pyrite miners around. Good luck to all and for now I can say
I have yet to see a single drill. Might go after Royal Gold for the start up capital my self,,, The ore is there it just needs to be removed from the ground...Take care Mike
With the price of gold wakeing up today,
maybe there be a turn around in metals.
Congrats, we always appreciate your posts.
Thanks!
Hey, elkomike.
Congrats on the bar pour. its got to be cool to see an end product
for all your hard work.
I'm just a lurker here for now and I like your posts for info.
Take care.
E
Well we poured a 6.5 ounce silver bar on 4/22/2012. It was fun using the new kiln. Learned we have alot of pyrite. The second pour stuck in the slag ore from the Scorpion v.s. the Falcon. Got some sodium nitrate that should let the silver and gold out of the slag by oxidizing the iron. Sunday we are going into the mine to get more ore and just enjoy the day. Hoping my geologist friend goes to check out the new vein. As for Ironwood if you read their sec filling last I knew they restructured their debt and got an extra $100k in their account if I read it right. To my knowledge I do not see where they have raised the money for drilling or have made their payments to the Falcon group. I hope they come up with it, who knows. To all take care and good luck. Elkomike
I'm hanging in to the end, so my advise is just buy only what you can afford to "gamble", 6 or 7 cents looks like a steal, I thought it a steal at 20, 15, 12, and 10, cents.
e' came off today,how low you think this will go? was gonna try 07 but no cash today
IROGE----Whats going on--no news is that good or is it bad.
Getting near the end of April, should we wait for the end of May or June for some news?
The only good news that I see is at the end of the month they have to report to the SEC. Then we can see if they raised the capital to do the drilling. I just do not see the money right now on their finacal sheets. We crushed some ore last week and panned it. My friend who is teaching me about assaying looked at the vial we panned and told me "I have bad news for you, that's gold". He went on to tell me it was not leach grade either which means its a higher value ore. I set up 2 neffco bowls this weekend to run the ore through. We should have some of the concentrates processed by next Monday. I still have to work my day job. If ironwood drills this will be a no brainer. Take care elkomike
Any news out there or we just going to drift to new lows.
IROG maybe like a RCON
Up $3 to $4 today.
We are getting at least some ASK hits past week or so.....if the company os diluting I personally dont see it.
This is my allllll tiiiiime lucrative gold play........UNREAL potential with this company, the SS and the location where they are at.....
To not throw some duckets at this is not wise: I look to buy more end of month!
Elkomke: I updated the IBox to only now show Behzad as the CEO...I dont have pictures or backgrounds on Anton and Brill - so for now I will just leave our CEO there.
Also I wil leave the maps intact unless and until they are changed on the company website...and one more thing - I agree completely with you that what is compelling to me is that Ironwood I think has learned a lot from past mistakes on their Haystack and Rock Creek former attempts to 'mine for gold' - and that was right next door to their current claims...you said:
"Did I mention that I think Behzad is learning from his mistakes at Haystack and rock creek with Teck..."
This imo bodes very well that they know exactly what NOT TO DO lol again...and makes me really exciting for this sleeper Gold Play that could end up being a Monster with this TINY lol Share Structure!!!
Take care,
DiamondFire!
Hi elkomike,
Thank you very much for all the information, I really appreciate it.
Notice of a proposed R/S usually appears on the company's
"overview" page of my TDA account, and this time it didn't until "after-the-fact", so it seemed as if they were trying to keep it"quiet".
If I'd done some checking around, I know I could have found out (SEC), but I didn't think I needed to (IROG's been on my "back-burner" for some time).
Thanks again for your help!
GOD Bless
hi Romans828, Snowden is a reputable engineering firm that is giving their preliminary assessment of the property. If you look on page 2 of the report you will see no copying of report except as required under the Canadian securities legislation. This means Snowden can write the NI-43-101.Their geologist and geophysasist(damn I can't spell) have the credtials to write th 43-101. Now if I understand correctly Ironwood has to ask them to write it and pay for them to write it to file with the Canadians where ever it goes. It is my understanding that Ironwood always tries to get the 43-101's from reading all their past deals because it gives them validity to go with the reverse stock split. Part 1 of you question. the reverse stock split I beleive is to increase the share price. this plus 43-101's make them more credible for getting on the TSX exchange. the golden exchange of gold companies. At sub pennie levels they could not get on this exchange, like I said Ironwood is learning from their mistakes before the reverse spit they did a forward split and created 500,000,000 shares, the posabilities of dilution were huge. which brings us to your third question will they dilute?? In my opinion probably to fund the exploration and their lease agreement with the falcon group. The good news is there's only a max of 25million AS, so anything more and you would have a forward split and as diamond fire said 100,000oz Au = $6.00 per share. hope that helps. take care elkomike
Hi DiamondFire,
Thank you.
It is my understanding that a" National Instrument-43-101" is the "gold standard"(no pun intended), of geological reports.
They can only be performed and compiled by individuals with "special certifications and qualifications" regarding their high level of expertise.
Although they originated in Canada, the NI-43-101 is recognized globally.
GOD Bless
Romans: I will try to contact company again about why they did the RS. They sent me a generic investors newsletter via email when I sent a request in about the RS and if they are going to need to dilute in order to pay for drilling...and other developments....so I will send them another message.
This to me is also a 'back-burner' looooooong play: the gold all around them is just imo too lucrative to not have even a small position.
Who knows how long till this runs - if ever. The Snowden Report though is as thourough a report as I would want, though I personally dont know what the difference between the two are. Maybe ElkoMike would know?
So imo if you need the money perhaps consider leaving a little bit here in case some huge news hits later on in the year, and then you wont kick yourself lol for years to come....
...keep you and the Board posted on any new info I get....and I am on my IPAD last several days and cannot change the IBOX and update their mgtmt team - but I will get my laptop out later and do it!
God Bless....take care Romans!
I would really appreciate your opinions on: 1) how IROG handled the R/S ( lack of "typical" notice) 2) credibility and validity of Snowden's analysis vs. an NI-43-101 3) probable dilution due to method of funding exploration and production costs
I have been holding for quite some time and have put my following of IROG on a "back-burner", due to other pressing issues, but I need to get up-to-speed and make some decisions.
You are obviously well-versed on these topics ( I also appreciate elkomike's views).
Thank you very much.
The Very Best to You!
Sorry I went back and read an old post. It was them probably restating their position in Ironwood after the reverse 20:1 split. My bad. elkomike
ElkoMike: unless they are selling their postion via 8K or 10 Q report: to me this is good. Now someone on this Board posted that they are a toxic financier last Fall: but they havent sold any shares and like your own real world on the ground analysis says: WHO WOULD WITH ALL THE REAL GOLD AROUND THEM!
...and with a bullish Snowden Report just issued....I think we have a potential for a very very very lol lucrative 2012...
So I see ALPHA CAPITAL ANSTALT filed a Schedule 13G/A on 2-22-2012 stating they have on line 7. Sole dispositive power-619,380 shares of common stock, i.e. 9.99% of represented class.. What the heck does that mean?? did they issue more os shares or did they give them 9.99% of the os shares of the 6,199,960 for some financing capital?? I do not see any monies listed. I clicked on Ironwoods SEC website link. Take care everyone elkomike
Thank you ElkoMike! I was wondering about their BOD and Advisors...: I will change the IBOX probably tomorrow as much of my time is currently elsewhere today. I also lol work crazy hours - 41 hours in 3 days over the weekend lol...and I need to rest too...and I am Mod on some other Boards...so THANK YOU AS ALWAYS WITH YOUR HONEST AND DIRECT RESPONSES!!!!
DimondFire!
Hi, Might want to erase Howard Lati their senior geologist and several others you have listed. The web site only list 3 employees Behzad,Anton, and Keith Brill. Also the picture showing Barrick to the east of the claims is incorrect, I know Ironwood had this on their web site but Barrick is actually to the west and south, ah who's kidding us they suround us every direction except to the east. Did you know that Teck Resources that has approximatly 100 claims to the north of us is worth 23.3 billion and has 577.2 million outstatnding shares of which one of the top 4 chinese gold companies owns 101 million shares. Maybe Behzad can approach them for financing. D.F., thanks for the updated site it looks nice Elkomike Did I mention that I think Behzad is learning from his mistakes at Haystack and rock creek with Teck,,,,I actually have hope for this guy and I envite him to contact me if he needs help putting this together.
Well Step One is done with the Snowden Report. Now we wait for financing for the drilling, as company said they are in discussion with investors. Then we hopefully drill here when the weather is appropriate.
So we sleeeeeeep for a while........and rest our golden bones........and dream of Elves, Gold and a pps explosion lol!....for the Patient that is....
Hi DF,
Yes!
Thank you.
The very best to you, IHN!
Guys: I updated the IBOX...check it out and if you want anything added or even taken away - PM me and I will consider it.
I removed and revamped EVERYTHING lol! It was outdated and had claims that were no longer even held by IROG...IROG btw for anyone new, and there ain't more then one or two lol of you - is almost now completely focused on this Falcon Mine claim of theirs. The Snowden Report confirmed what they already suspected -and what they had found with their previous finds in claims they have lost at Rock Creek right next to it: 'der probably is Gold in 'dem dar hills lol!'
So check it out and good night!!! Fun to be on a Board with even just a few peeps...cause this is how every Great pps revolution starts...hehe...
Thank you and Romans for clearing that up for me. If i find out anything new I will post. elkomike
Board Marks lol only 53: I dont expect that number to change much till drilling starts in a few months...but this post is just for hopeful comparison purposes later this year if/when we start rocking and revving our IROG-Z 28 5.7 liter engine lol!
Elkomike hello! Like Romans said the company could issue these additional shares and dilute then into the market. Any comapny can do this - and in fact most all of them do. Penny stocks in particular are notorius for this practice.....they issue like a billion shares or AS: Authorized Shares, then have say 250 million Outstanding Shares or OS which is how many possible shares they can dilute into the market Float. The Float is less then the OS because their are often Restricted Shares held by Insiders in the OS....so in this case say with OS 250 million for Company 'X', theyhave 100 million Restricted Shares which are not tradeable in the current Float - so then the everyday and tradeable float when the market is open for this company would be 150 million shares which is then the current Float.
BUT: the great thing with IROG is that the AS and OS ARE EXTREMLY SMALL....lol....to say the least. Even if the company diluted all the rest of the 18 million AS shares and added them imto the OS (then the AS and OS would be maxed out) to finance drilling......at the end of the day thats only 18 million shares. Now the stock price would go down BIG if they tried to do this because there is little to at times like today no liquidity - no trades. So worst case scenario here imo is that they try to dilute tanking the stock prices to a coupke cents - yes if your still holding you lose....but with this tiny share structure and potential gold-strike this year: Iknow I would BUYand buy big.
But this worst case scenario is imo doubtful, because of IROG's managements track record. Yes they did a Reverse Split last October, 20 for 1, but it is important to note that they DIDNT COME ANYWHERE NEAR DILUTING THE OS TO MAX AS OF 500 MIL AT THE TIME. The OS before the split was around 120 million. If IROG was your typical scammy Pink Sheet OTC stock, they would have dumped most of their AS of 500 million into the market before the RS, all the while coming out with 'pumping' PR's to create Buyers and liquidity to purchase all these shares to be dumped. Then the company would do the RS...and do the process again: DUMPING AS SHARES INTO THE OS AND FLOAT IS A COMPANY PRINTING MONEY THEMSELVES-!!! .....
So the good news is IROG did not do this. Neither do they come out with frequent and pumping PR's. ALSO important to note is as Poster Nobody3 mentioned last Fall: IROG also decreased their AS by the RS 20 for 1
split. Some companies only RS the OS....which is terrible to do......cause then they have that much more room to dilute i.e.: if IROG only RS'd the OS and still had an AS of 500 million - I and others here would shudder to think how much dilution lay ahead with the huge gulf between the 6 mil OS and 500 mil AS. -- But again, fortunately this is not the case.
So all this leads to one thing to me: with IROG's TINY AS and OS as compared to most every company out there, and the fact that they cant really dilute that many shares into market with such low liquidity - and if they do we all then will have a chance to buy around a penny again but this time with a lol 25 mil AS, and the fact that they just had a bullish preliminary Snowden Report that "strongly" suggets to start drilling - and that in the second most prolific gold zone on Earth that is home to all the worlds largest gold companies who not only have mined a couple hundred million oz's of AU here the last 30 years - but are STILL discovering NEW GOLD TODAY.......:
IROG could be a mammoth, massive stock later this year 2012 when we get the drilling results back.
Hope all this helps, sorry to go on so long....but imo a stock like this does not come around very often!
I appreciate your ground zero findings, as well as your posts ElkoMike!
DiamondFire!
Outstanding shares are those that they have already issued,while Authorized shares are the total amount that they are currently allowed to issue, so in this case, if they so desire, they are able to issue an additional 18.8 million shares (to raise additional capital), but issuing additional shares causes Dilution ( when earnings begin, the level of EPS is less than if the additional shares had not been issued)
Hope that makes sense, I'm in kind of a hurry.
Thanks for your helpful insights and information.
Hi DiamondFire, Maybe you could teach me something about the stock. What is the differance between 25mil AS and 6.2 mil OS? Does that mean the company has control of the 18.8 million shares and that there is 6.2 million shares out there free trading? Just trying to understand the stock end of it. thanks elkomike
First I appriciate that some of you actually went to their site a read the data for yourself. And I appriciate the positive post so I say thankyou. Now to let you know to my knowledge there currently are not any redwood claims. I would have to recheck blm of nevada's web site to see if that has changed. Also if you go by Ironwoods elegant web page where they had planned on putting these Redwood claims 1/2 of the area is already owned by Barrick through a land process called state select. Where the fedral government allowed states back in the 1880 or 1890's I can't remember the exact date, to own part of the federal land. Which later the state sold to private parties. So it is not even worth it in my opinion for the to go claim the area the current falcon property can probably hold its own. So figure 4 way wrong the stuff to the east of the dry claims is private land so they ca not claim them. If ironwood needs an updated map the can call me. haha.. Teck resource's TCK worth 23 billion is ajacent to us in the north and Barrick ABX worth 49 billion is ajacent to us to the west and south.. Yes there is money to buy this if the drill results are positive. PS the name elkomike cause i live in elko nevada and yes this is a mining community take care
Major Gold Companies Mining Around IROG
http://www.ironwoodgold.com/projects/redwood/nearby_companies.aspx
This is the second most prolific Gold region...on planet earth lol!
And its in the good ol' USA so logistics are good and also: no crazed foreign governments to deal with and cut deals to with any gold found.
Guys, if you are new there is so much information on this Northern Region of Nevada and the Carlin Trend - specifically how much gold is mined there right now...that please if you are looking for a longer term hold to at least see what the drill samples say this Spring/Summer 2012: then Google 'Carlin Trend Gold' and see the massive potential here. Check out this recent Dec. 2011 article recapping THE NEW GOLD FINDS of the year in Nevada by gold monstrosity Barrick Gold...some highlights:
'Since the 1980s, more than 240 million ounces of gold have been mined in Nevada, says Jon Price, state geologist. The Carlin Trend alone has produced more than 76 million ounces and should exceed the 100-million-ounce mark by 2021. The region accounted for 41 percent of total gold production in the state for 2010.'
...also guys, IF significant gold is found - do you think IROG's neighbors have the money to buy them out lol:
'Barrick Gold will spend upwards of $100 million in exploration in Nevada in the coming year, says Lou Schack, Barrick's Elko-based director of communications."
http://www.nevadaappeal.com/article/20111211/NEWS/111219981
btw: even if they find mineable gold of around a measly 100,000 oz's...what does that do to a 25 mil AS and 6 mil OS lol?
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Ironwood Gold
Share Sturcture
as of November 30th, 2011:
Authorized Shares:25,000,000 million
Outstanding Shares: 6,199,960 million
Please see Pages 9 and 10 of the January 23, 2012 10 Q:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8347405
USA Office
7047 East Greenway Parkway,
Suite 250,Scottsdale, AZ, 85254
Email: info@ironwoodgold.com
Investor Relations
Red Oak Communications, Inc.
Tel: 1-888-356-4942
investors@ironwoodgold.com
Auditor
Madsen Brothers & Associates
684 E. Vine St., Suite 3
Salt Lake City, UT 84107-5540
Transfer Agent
Holiday Stock Transfer
2939 N 67th Place, Ste C
Scottsdale, AZ, 85251
Legal Councel
Greenberg Traurig, LLP
1201 K Street, Suite 1100
Sacramento, CA, 95814-3938
Where Ironwood is about to drill 2012:
Falcon Mine Property
...from the January 23rd, 2012 10 Q, Pages 6 and 7:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8347405
Mineral Properties
Falcon Mine Property
On 2 February 2011, the Company entered into an acquisition agreement (the "Falcon Agreement") for an interest in the prospective gold-silver project known as the Falcon Mine Property with the signing of a 2-year lease agreement which included a 50% earn-in Joint Venture agreement option. The property consists of 6 patented claims and 60-100 newly staked claims that join the patented claims on which the mine is situated.
The Falcon Agreement calls for cash payments of $225,000 by 1 September 2012, issuance of 75,000 shares of common stock by 28 January 2011, issuance of another 75,000 shares of common stock by 30 November 2011, and a minimum of 8 drill holes by 30 November 2012 with 4 holes completed by 30 November 2011. As of 30 November 2011, the Company had paid $75,000, and had issued the initial 75,000 shares of its common stock.
The Significance of being in and surrounded by
the Carlin Trend Gold Belt:
Located in Nevada's Carlin Trend - 2nd richest gold district in the world:
Explanation of the Carlin Unconformity by Wikipedia:
http://en.wikipedia.org/wiki/Carlin_Trend
The Carlin Unconformity or Carlin Trend is a geologic feature in northeastern Nevada which represents a period of erosion or non-deposition likely associated with a collision between a tectonic crustal block called a terrane and the North American Plate. The collision occurred during the Mississippian Period, about 350 million years B.P. The collision is associated with the Antler Orogeny.
The collision induced higher crustal temperatures and pressures which produced numerous hot springs along the suture zone. Several episodes of subsurface magmatism are known to have occurred subsequent to the collision, associated with tectonic forces affecting the entire Basin and Range. During each of these episodes, and particularly during the Eocene epoch, hot springs brought dissolved minerals toward the surface, precipitating them out along fissures. Among these minerals were gold and silver.
The Carlin Gold trend is one of the world's richest gold mining districts. It is a belt of gold deposits, primarily in Paleozoic limy sediments, that is about 5 miles wide and 40 miles long, extending in a north-northwest direction through the town of Carlin, Nevada. Gold was first discovered in the area in the 1870s, but there was very little production until 1909, and only about 22,000 ounces was produced through 1964. By 2008, mines in the Carlin Trend had produced over 70 million ounces of gold, worth around US$85 billion at 2010 prices.
NOTE: It is important to realize that Ironwood's Falcon Mine claims are both 'in-line' with the above mentioned "north-northwest direction" gold deposits from other gold companies (some of largest in the world), and also surounded by these deposits on all sides. See this first Map provided by Wikipedia, then compare it to the next four Maps that Ironwood provides on their webpage. This is of course no guarantee, but of all the regions in the world, in North America, in the United States, lol and even in Nevada - areas like where Ironwood has its claims are where you want to be in as a gold exploration company...:
...more from Ironwood's webpage now about the Carlin Trend and why they are there looking for GOLD:
http://www.ironwoodgold.com/projects/redwood.aspx
"Nevada now produces 82% of all new gold in America. At the heart of the gold productive region in the State is a 2 mile wide by 20 mile long geographic anomaly bisecting north central Nevada laterally as it migrates south-east and is known as the "Carlin Trend." This deposit is home to some of the largest mining companies in the world with over 50 million ounces of gold mined to-date and with an estimated potential to produce 200 million ounces -- more gold than all of California ever produced and production has grown exponentially to where it is today -- the second richest gold district in the world, second only to Witwatersrand, South Africa. This is where Ironwood Gold Corp. has commenced staking new mineral claims, an area generally acknowledged as one of the most prolific gold mineralized regions in the world.
The potential of this strategically situated property can be put into context by realizing that many major companies have worked in the Carlin Trend (Texas Gulf, Homestake, Barrick, Goldfields, Placer Dome and Newmont) (see map) and all have found extensive gold deposits with alteration and major structures similar to that found in the Falcon / Redwood claims. Similarly, initial rock sampling over the claims found numerous rock chip surface samples with anomalous gold concentration.
The Falcon Mine and Redwood Claims properties (Falcon / Redwood) are located in the northern part of the Carlin Trend and indicates similar geology and deep seated structures found in the mineralized zones within the more southern part of the trend. Newmont, Barrick and other companies have located and are mining gold deposits that have at least 1-5 million ounces of gold and some, like the Goldstrike mine (Barrick), had 17million ounces of gold reserves in 2005. Newmont has reserves of over 33 million ounces and is the largest land owner in the trend.
Over 50 million ounces of gold has been mined already and it is estimated that the trend has the potential to produce 200 million ounces. Falcon / Redwood with its geographical, geological and structural setting and indications of gold has the capability to host a similar 1 - 5 million ounce deposit with the potential of greater than 5 million ounces. This is exemplified by the Jerritt Canyon gold deposit (10-25 million ounces) owned by Yukon Nevada Gold due east of the Falcon / Redwood property and the Anglo Gold Property (2-5 million ounces) located just to the north of Jerritt Canyon.
Carlin type gold deposits are among the most important being mined at present anywhere in the world. Total production from the Carlin Trend, since the original mine began operation in 1964, has now exceeded 50 million troy ounces and there appears to be no end in sight. Many of the gold deposits found in the Carlin Trend fall in the range of 1 to 5 million ounces of gold and several exceed 10 million ounces of gold. Newmont has reserves of 33.3 million ounces. Barrick Gold Corp, as of 2005, had gold reserves of over 17 million ounces at their Goldstrike Mine alone. Clearly, these deposits are worthwhile and attractive targets.
Mr. Behzad Shayanfar | CEO
He began as a civil engineer overseeing major construction projects in Iran. Was a team member tasked with the network strategy design for a multimillion-dollar oil exploration project in southern Iran. Became a lead project manager assisting in design and build of the national broadcasting center. He earned a second degree from the London School of Economics and became a highly successful commodities futures trader. He moved into private investor/developer real estate opportunities in Dubai, India, the U.K. and the U.S. then determined to apply his business and financial acumen to the resource sector.
New this year - February, 2012:
Snowden Preliminary Assesment of the
Falcon Mine Property:
"Results from the surface mapping, sampling and geophysical program indicate a number of signifcant mineralisation targets that warrant a follow up exploration drilling program. The exploration work completed to-date suggests that the Falcon mine property may contain 3 types of economic mineralization and Snowden strongly recommends that the proposed models be tested with a next phase of exploration drilling. The proposed 18 hole, 6,000 m drill program has an estimated cost of $4.2 million..."
http://www.ironwoodgold.com/projects/images-redwood/pdf/Snowden-Final-Report.pdf
...and here's the Press Release on the release of the Snowden Report by Ironwood...notice that it says that work will begin once the weather permits...and soon it will be Spring:
"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: http://www.ironwoodgold.com/projects/redwood.aspx.
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: www.ironwoodgold.com.
http://ih.advfn.com/p.php?pid=nmona&article=51291149
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