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| | February 08, 2010
Iron Creek Reports Vaquillas Drilling Results
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| | February 8, 2010 - Iron Creek Capital Corp. (TSX-V: IRN) is pleased to report the drilling results from the Vaquillas Project which is part of the Victoria Joint Venture with Hochschild Mining Holdings Ltd. ("Hochschild"). In December 2009, Hochschild completed nine additional reverse circulation holes totaling 2,490 meters. These results continue to demonstrate the potential for both high-grade gold/silver veins, as well as bulk tonnage low-grade gold/silver mineralization.
The mineralized zone has been extended north and south totaling approximately one kilometer along strike and continues open to the south. Hochschild is currently developing the work program for 2010 which will include additional drilling to delineate the ore zone at the Vaquillas target, as well as geophysics, geochemistry and new drill testing at the Cenizas, Nueve Vidas and Incahuasi targets in the southern portion of the Victoria Joint Venture.
The following table summarizes the Hochschild results. Included with this release is a map of all the drill holes completed at Vaquillas.
Drill Hole |
Map
# |
From
(m) |
To
(m) |
Interval
(m) |
Au
(g/t) |
Ag
(g/t) |
Au Eq
(g/t) |
VVQRC09015 |
H15 |
62 |
77 |
15 |
0.06 |
28.5 |
0.54 |
|
|
87 |
98 |
11 |
0.08 |
33.0 |
0.63 |
|
|
100 |
110 |
10 |
0.07 |
49.7 |
0.9 |
|
|
121 |
132 |
11 |
0.13 |
77.6 |
1.43 |
|
|
138 |
144 |
6 |
0.34 |
48.4 |
1.16 |
|
|
196 |
204 |
8 |
0.09 |
32.0 |
0.63 |
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|
208 |
213 |
5 |
0.15 |
23.4 |
0.54 |
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243 |
255 |
12 |
0.31 |
25.0 |
0.73 |
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VVQRC09016 |
H16 |
121 |
145 |
24 |
0.60 |
60.1 |
1.61 |
including |
|
135 |
136 |
1 |
0.70 |
285.0 |
5.45 |
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VVQRC09017 |
H17 |
59 |
129 |
70 |
0.50 |
58.2 |
1.47 |
including |
|
79 |
81 |
2 |
0.65 |
218.0 |
4.28 |
|
|
86 |
88 |
2 |
0.86 |
137.0 |
3.14 |
|
|
98 |
102 |
4 |
0.76 |
136.5 |
3.04 |
and |
|
154 |
160 |
6 |
0.89 |
7.1 |
1.01 |
|
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170 |
175 |
5 |
0.96 |
13.8 |
1.19 |
VVQRC09018 |
H18 |
247 |
282 |
35 |
0.52 |
7.7 |
0.65 |
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VVQRC09019 |
H19 |
Weakly mineralized to no mineralization |
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VVQRC09020 |
H20 |
56 |
61 |
5 |
0.57 |
4.0 |
0.63 |
|
|
79 |
89 |
10 |
0.74 |
14.9 |
0.99 |
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|
100 |
103 |
3 |
0.51 |
14.9 |
0.76 |
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VVQRC09021 |
H21 |
9 |
29 |
20 |
0.28 |
32.3 |
0.82 |
|
|
116 |
122 |
6 |
0.31 |
51.3 |
1.16 |
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|
170 |
186 |
16 |
0.81 |
7.3 |
0.94 |
including |
|
184 |
185 |
1 |
2.80 |
26.6 |
3.24 |
and |
|
212 |
224 |
12 |
0.69 |
60.1 |
1.69 |
including |
|
220 |
222 |
2 |
1.88 |
313.0 |
7.10 |
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|
228 |
241 |
13 |
0.59 |
7.8 |
0.72 |
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VVQRC09022 |
H22 |
195 |
219 |
24 |
0.31 |
93.2 |
1.87 |
|
|
237 |
277 |
40 |
0.27 |
37.4 |
0.89 |
|
|
286 |
289 |
3 |
0.84 |
67.9 |
1.97 |
including |
|
287 |
288 |
1 |
1.48 |
160.0 |
4.15 |
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VVQRC09023 |
H23 |
145 |
148 |
3 |
0.72 |
5.9 |
0.82 |
|
|
174 |
181 |
7 |
0.63 |
9.4 |
0.78 |
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Note: Silver equivalency estimates were derived using a silver-to-gold ratio of 60:1 and it is assumed that the metallurgical recoveries and net smelter returns are 100%. The widths reported are the length of the drill core intersection as the true orientation of the mineralization has not been established.
Hochschild Joint Venture
The Victoria Joint Venture covers approximately 45,000 hectares and is prospective for precious metal and copper mineralization. Hochschild has the option to acquire a 60% interest in the Victoria Joint Venture by incurring US$6.0 million in exploration expenditures by December 31, 2013. Hochschild has advised that as at the end of 2009 it had incurred approximately US$1.5 million on exploration. At the close of 2009, Iron Creek and Hochschild amended the terms of option agreements to include all of the Vaquillas land holdings of Iron Creek for a commitment by Hochschild to expend a minimum US$500,000 on exploration by December 31, 2010 and to pay US$100,000 towards an underlying option payment which has been made.
QA/QC Program
Hochschild manages the Vaquillas Program. Terra Service SA, 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.
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: 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.
ON BEHALF OF THE BOARD
"Michael Winn"
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
Forward-Looking Statement
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.
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| | You can view the Next News Releases item: Thu Feb 11, 2010, Iron Creek Arranges $750,000 Financing
You can view the Previous News Releases item: Tue Dec 29, 2009, Iron Creek and Hochschild Expand Joint Venture at Vaquillas
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