New Pass Gold Property
A Carlin Trend-Type Gold System with Resource Growth Potential
Extensive drilling, oxide mineralization, and a clear pathway for resource expansion.
New Pass is the cornerstone asset of Iconic Minerals. Located in Eastern Churchill County, Nevada, the project hosts a near-surface oxide gold system with characteristics similar to other successful Nevada heap-leach operations.
The project benefits from decades of exploration and a substantial drilling database supporting the geological model. Mineralization remains open along strike and at depth.
Why New Pass? A Compelling Nevada Gold Asset
- Defined gold resource with expansion potential
- Large historical drill database supporting geological continuity
- Near-surface oxide mineralization suitable for open-pit development
- Strong metallurgical recoveries demonstrated in testing
- Located in Nevada – a premier global mining jurisdiction
- Joint venture partner with Nevada operating experience
Location & Geology
- Eastern Churchill County, Nevada
- 107 mining claims (2,140 acres)
- Located along Nevada’s Sulfur–Lovestock–Austin structural gold trend
- Approximately 75 km south-southwest of the McCoy-Cove Mine (3.3 Moz Au historic production)
Exploration History
- 1982–1992: Westmont Gold drilled 165 holes
- 1995: Santa Fe drilled 11 holes
- 1998–2004: White Knight (McEwen) completed mapping and geochemical sampling
- 2005–2008: Bonaventure JV drilled 89 RC/Core holes
Historical NI 43-101 Resource (2010)
- 15,515,488 short tons
- 0.022 opt AuEq (~0.69 g/t AuEq)
- 341,750 oz AuEq
Contained metals include:
- 282,986 oz Au
- 3,134,129 oz Ag
Drilling Database
- 329 drill holes
- 30,553 metres drilled
- Average depth 114 metres
Average grades:
- 0.51 g/t Au
- 0.62 g/t AuEq
- 6.92 g/t Ag
Highlight Drill Intercepts
- 23 m @ 1.95 g/t Au
- 56.4 m @ 0.93 g/t Au
- 1.5 m @ 30.58 g/t Au
- 3.6 m @ 8.60 g/t Au
Metallurgy
- Approximately 75% of the deposit is oxidized
- Bottle-roll testing returned 75–77% gold recovery
- Mineralization amenable to heap-leach processing
Exploration Upside
- Exploration target 12–17 million short tons
- Potential grade 0.015–0.025 opt AuEq
- Potential 180,000–425,000 additional ounces AuEq
Permitting & Development
- Approved Plan of Operations
- Permits 40+ drill holes
- Up to 25 acres disturbance
New Pass Growth Strategy
Advancing New Pass Toward Development
1. Expand the Resource
Systematic drilling targeting extensions of known mineralization.
2. Update Technical Studies
Compile historical drilling and metallurgical data to support updated resource evaluation.
3. Advance Toward Development
Evaluate potential open-pit heap-leach mining scenarios.
New Pass Comparison to Nevada Producers
Benchmarking Against Successful Nevada Gold Mines
Several Nevada heap-leach mines began as exploration projects similar to New Pass. These examples illustrate how Nevada oxide gold projects can evolve from exploration assets into producing mines.
Gold Bar Mine – McEwen Mining
- 631,056 oz produced
• AISC ~ $1,790/oz
Pan Mine – Nevada
- 340,753 oz produced
• AISC ~ $1,683/oz
Mineral Ridge – Nevada
- 1,045,000 oz produced
New Pass – Iconic Minerals
- 341,750 oz AuEq historical resource
- Oxide gold system
- Significant exploration upside
Midas South Property
Exploration Potential on the Carlin Trend
The Midas South Property provides Iconic Minerals with exposure to a structurally controlled high-grade gold exploration target along Nevada’s famous Carlin Trend. Situated between the Ivanhoe and Midas mines, the project lies within a well-established gold district where major discoveries have been made along fault-controlled hydrothermal systems. Historical work has identified multiple exploration targets that could host deeper high-grade mineralization similar to nearby deposits.
Carlin Trend Structural Target
Located between the Ivanhoe and Midas mines along Nevada’s Carlin Trend.
Highlights
- Three identified exploration target zones
- Major north-south trending, west-dipping fault system
- Increasing gold grades with depth in historical drilling
- Structural model similar to high-grade Midas system
Historical Work
- 2005 CSMT geophysical survey identified three major anomalies
- 2006–2008 drilling intersected major fault structures
- Deeper drilling indicated improving grades and thickness
The objective at Midas South is to test deeper structures capable of hosting a high-grade “Midas-style” underground gold deposit.
