VANCOUVER, Oct. 7 /CNW/ - Iron Creek Capital Corp. (TSX-V: IRN) is pleased to provide an update on the drilling program at the Vaquillas Property in northern Chile being conducted by our Joint Venture partner, Hochschild Mining Holdings Limited ("Hochschild").
According to Hochschild, precious metal mineralization has been identified at the Vaquillas mine target where 4,000 meters of RC drilling was completed in 14 holes. Partial results from 9 holes confirm a broad zone of highly anomalous gold and silver mineralization over an area of 1km by 1km, with high-grade, discrete veins also being encountered. The Company will release the results from all 14 holes when they become available along with results from drilling in the Vetas Negras area. Hochschild also completed a ground magnetic survey in the Vaquillas mine area the results of which will be reported upon review of the data.
Terra Service S.A., an independent drilling contractor, was used to complete the drilling program. Hochschild's samples were collected in accordance with accepted industry standards and best practices. The samples were submitted to ACME laboratories in Santiago, Chile for analysis. As standard procedure, Hochschild conducts routine quality assurance and quality control analysis on all assay results, including the systematic utilization of certified reference materials, blanks, and field duplicates.
Hochschild Joint Venture
Hochschild has the option to acquire a 60% interest in the northern portion of the Vaquillas, now being referred to as the Victoria Project, by incurring US$6.0 million in exploration expenditures by December 31, 2013. Of the $6.0 million, Hochschild has a firm commitment to incur $750,000 by December 31, 2009.
About Vaquillas Property
The Vaquillas Property covers approximately 45,000 hectares (including the Victoria JV with Hochschild) and is prospective for copper and precious metal mineralization. The southern portion of Vaquillas is also prospective for both porphyry copper mineralization as well as bulk-tonnage, low-grade gold mineralization where the Company is currently looking for a joint venture partner.
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.
Qualified Person: Gregory F. Smith, 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 press release.
ON BEHALF OF THE BOARD
Michael Winn, 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 statements.
SOURCE Iron Creek Capital Corp.
For further information: For further information: Suite 830-355 Burrard Street, Vancouver, BC, Canada, V6C 2G8, T: (604) 682-1545, F: (604) 682-1514, www.ironcreekcapital.com, firstname.lastname@example.org