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Icon Energy Ltd V.ICN


Primary Symbol: ICNOF

Icon Energy Limited is an Australia-based oil and gas exploration company. The Company has a 100% interest in, and is operator of, the ATP 855 tenement and the basin-centered gas resource that it contains. The Company’s ATP 855 is located in the Cooper-Eromanga Basin on the eastern side of the Queensland and South Australian border. The Company's tenements include ATP 855, PRL's 33-49, ATP 594, PEP 170, PEP 172, and PEP 173. PRL's 33-49 are adjacent to ATP 855 on the western side of the border, and both permits share part of the Nappamerri Trough. ATP 855 is located in the Nappamerri Trough, one of the six troughs within the Cooper Basin. The tenement covers the deepest part of the trough, containing the thickest sequence of Permian sediments in the entire Cooper Basin. It is within these sediments that a large, unconventional, basin-centered gas resource has been discovered that extends across the entire tenement. ATP 855 occupies a total area of 1,679 square kilometers (km2).


OTCPK:ICNOF - Post by User

Comment by mdjbrownon May 19, 2011 10:16am
368 Views
Post# 18599906

RE: BUY ALL YOU CAN

RE: BUY ALL YOU CANExcellent post oiltar,

There are going to be a lot more results flowing in shortly.

Not only the results from the first 11 holes that twinned historic holes, but they now drilling new exploration targets as you read this.    4600 meters as per the May 4, 2011 news update 





ICN Updates Goldfield Bonanza Project

May 4, 2011 (Marketwire Canada) --



     ........................................................................................................................................................................
Eleven core holes have been completed to date, for a total of 4,550 feet (1400 metres). All assays are being completed by ALS Chemex in Reno, Nevada, an ISO certified laboratory, and initial assay results are anticipated within 5 to 10 days.

More recently a RC (Reverse Circulation) rotary drill arrived on site. RC drilling is a faster and more cost effective method of completing drilling on exploration targets. Initially, the RC rig also twinned a few holes for comparative purposes, but it is now drilling on exploration targets identified from historic literature and summaries of historic mining at the Silver Pick, Phelan, January and Church workings. Following completion of the CSAMT interpretation, RC drill holes will test specific geologic and geophysical targets in order to complete initial exploration in areas of untested potential. Assay results from the first RC drilling should be available towards the end of May.

The core rig will continue drilling through May, while the RC rig has been contracted for a minimum of 15,000 feet (4,600 m). Results of the initial core and RC drilling will aid in verification of the historic data and generate information on new exploration targets. This initial drilling will assist in more detailed geologic interpretation of previously identified zones, as well as generating information on any new zones of mineralization encountered.

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