Ironwood Gold Corp. (fka IROG)

[DiamondFire]

Ironwood Gold to Proceed With 18-Hole, 6000m Drill Program at Falcon Property, Carlin Trend, Nevada


Date : 02/21/2012 @ 4:15PM
Source : MarketWire
Stock : Ironwood Gold Corp. (IROG)
Quote : 0.119 0.044 (58.67%) @ 4:32PM


Ironwood Gold to Proceed With 18-Hole, 6000m Drill Program at Falcon Property, Carlin Trend, Nevada
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Ironwood Gold Corp (OTCBB:IROG)
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Today : Wednesday 22 February 2012

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.

ABOUT IRONWOOD GOLD CORP. (OTCBB: IROG)

Ironwood Gold Corp. is a mineral exploration and development company building a portfolio of prospective properties containing known deposits of strategic precious metals in politically stable, mining-friendly North American districts with recognized production histories. For more information visit: www.ironwoodgold.com.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

ON BEHALF OF THE BOARD

Ironwood Gold Corp.

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Behzad Shayanfar, CEO



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Web: www.ironwoodgold.com