Iconic Minerals Ltd. (TSXV: ICM | OTCQB: ICMFF | FSE: YQG) has received the second batch of assay results from its 2026 exploration drilling program at the New Pass Gold Property in Churchill County, Nevada. Results from six additional drill holes confirm near-surface gold and silver mineralisation not included in the property's historic resource. Five of the six holes returned continuous mineralised intervals ranging from 30 to 180 feet at or near surface, with silver grades peaking at 42.7 g/t. Investors may be watching for the final assay batch and subsequent metallurgical testing results.

Key Points

  • Iconic Minerals Ltd. (TSXV: ICM | OTCQB: ICMFF | FSE: YQG) announced second-batch assay results from the 2026 New Pass drilling program.
  • Five of six new holes intersected continuous near-surface gold and silver mineralisation, with intercept widths of 30 to 180 feet and average gold grades around 0.35 g/t.
  • Peak silver grade of 42.7 g/t recorded in hole NP2618; a notable antimony intercept exceeding the 1% Sb analytical detection limit was identified in hole NP2601.
  • All 15 core holes in the 2026 program have been drilled; the final assay batch has been submitted to ALS, with initial metallurgical testing to follow.

Second-Batch Assay Results Confirm Near-Surface Mineralisation at New Pass

The release states that five of the six newly reported holes returned continuous gold and silver mineralisation at or near surface, with intercept widths ranging from 30 to 180 feet (9 to 55 metres) and gold grades averaging approximately 0.35 g/t. Hole NP2613 returned the widest interval at 180 feet grading 0.44 g/t gold, including a higher-grade 50-foot sub-interval at 0.95 g/t gold. The sixth hole, NP2605, encountered 30 feet of mineralisation at depth but did not reach its target rock unit. All samples were submitted to ALS Reno with standards, blanks, and repeat samples for quality control.

Elevated Silver and Critical Antimony Grades Add to New Pass Potential

The announcement highlights silver grades as high as 42.7 g/t in hole NP2618, with four individual 10-foot sample intervals assaying above 20 g/t silver across holes NP2614 and NP2618. Separately, multi-element analysis of previously reported hole NP2601 revealed an antimony intercept from 79 to 85 metres that exceeded the analytical upper detection limit of 1% Sb, with the adjacent 3-metre interval returning 0.26% Sb. The same over-limit interval averaged 1.80 g/t gold and 11.9 g/t silver. The company notes that antimony is a U.S. critical mineral and that future drilling will likely include further antimony testing.

2026 Drill Program Complete; Metallurgical Testing and Resource Work to Follow

Iconic Minerals reports that all 15 core holes planned under the 2026 program have now been drilled and the final batch of samples has been submitted for analysis. The company states that initial metallurgical testing will be undertaken to confirm the leachability of mineralised intervals, with recoveries expected to be favourable given the shallow, oxide-dominant nature of the system. Multi-element results will also be reviewed for potentially recoverable critical elements. The disclosure suggests results will inform updated geological interpretations to estimate the size and grade of mineralised extensions beyond the historic inferred resource.