Iconic Gold Provides Further Geographical and Mineralization Information on its Flagship San Roque Gold Property

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[{"type":"text","content":"VANCOUVER, British Columbia, Nov. 24, 2021 (GLOBE NEWSWIRE) -- International Iconic Gold Exploration Corp. (“Iconic Gold” or the “Company”) (TSXV:ICON) (OTC:MFMLF) is pleased to announce that, further to its news release dated November 4, 2021, the Company has recently increased its ownership in Minas San Roque SA (“MSR”) to 100%. MSR holds legal title to the mining claims comprising Iconic Gold’s flagship San Roque property (“San Roque” or the “Property”) located in Northeast Patagonia near the Atlantic coast in the Province of Rio Negro, Argentina. BACKGROUND San Roque is an early-stage exploration property with 112 drill holes totaling 16,683 meters and having so far incurred an accumulated investment of approximately US$8.5 million, leading to the identification of a substantial body of mineralization which the Company geologically categorizes to be a gold endowed low-sulphidation epithermal polymetallic mineral deposit. OWNERSHIP MSR’s ownership of the deposit and the prospective geology around it are protected by a system of mine rights. Three federal government mining concessions, known as “Minas”, totaling 94.5 sq. km. have been granted to MSR. They represent real and taxable property rights and as such comfortably and securely include all of the Property’s known mineral assets. In addition, MSR controls eleven temporary mineral exploration licenses, known as “Cateos”, covering 645 sq. km around the Minas. Should significant mineralization be established on a Cateo it could ultimately be converted into a Mina by due process application of the Argentinian federal Mining Code. The Minas are real estate upon which annual taxes are paid and carry a 3% “pit head” (aka mine-mouth) federal production royalty. The Property is not subject to any other royalty encumbrances at this time. GEOLOGIC SETTING The San Roque mineral deposit(s) is set in the Somuncura Massif, a crustal scale morphostructural (a major topographic feature that coincides with a geologic structure formed by tectonic movements) unit consisting of Precambrian to Cambrian age metamorphic, Paleozoic plutonic intrusive, and Mesozoic to Cenozoic age volcanic and sub-volcanic rocks. San Roque occurs primarily in Jurassic age intermediate to felsic volcanics (mostly dacite and rhyolite ash-flows) which unconformably overlie late Precambrian age metamorphic rock –...

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