Icon started Drlling in Otish now
We should keep an eye on this one too.
Icon Begins Drilling on Otish Property
14:23 EDT Tuesday, June 17, 2008
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 17, 2008) - IconIndustries Limited ("Icon" or the "Company") (TSX VENTURE:ICN) ispleased to announce that it has commenced drilling on its Otish UraniumProject area (the "property"), located in the Otish Mountains ofCentral Quebec. The main targets being drilled were outlined by ahigh-resolution, airborne radiometric-magnetic survey undertaken latein 2007 by Geo Data Solutions Inc. ("GDS") (as described in an earlierpress release January 15, 2008) which succeeded in locating a number of"drill-ready" targets on the property. The reader is referred to therelevant maps on the Company's Website under the URL https://www.iconindustriesltd.com/s/Projects.asp.
The aerial survey defined a large, 2x6 kilometer, northeasttrending, high uranium/thorium radiometric anomaly that containsinternal areas of high radiometric intensity that locally arecoincident with an uraniferous boulder train (Lac Henri area) and apitchblende-bearing vein at Jean's showing. Within the larger anomaly,a pronounced east-west trending magnetic break (interpreted fault)coincides with the sharp, linear, northern boundary of a series ofstrong subsidiary radiometric anomalies and the Lac Henri boulder trainat their interpreted up-ice termination, suggesting that the source ofthe anomalies may lie along the fault over a greater than 2 km strikelength. This structure, which is parallel to known mineralized faultsin the region, will be the target of several of the initial drillholes, and forms the highest priority drilling target. Other targetsinclude several other high uranium/thorium and total radiometricanomalies which also appear to terminate up the transport direction ofglacial ice along magnetic breaks which also may represent faults.
A 12-15 hole helicopter supported diamond drill program hascommenced to test these GDS survey anomalies as a first phase. MajorDrilling Group International and Canadian Helicopters Ltd. have beencontracted and fuel and camp facilities have been positioned for theprogram's estimated two month duration. Drilling will take place about20km northwest of the Matoush deposit, where Strateco Resourcesrecently (April 14th) announced its intention to go underground bymid-2009.
The technical information in this news release was compiled by DavidRhys P. Geo., a qualified person as defined by N.I. 43-101 and aDirector of Icon.
The Company also announces the granting of 150,000 stock options @ $0.35 to Consultants of the Company.