Iron Creek Capital Corp. (TSXV:IRN) announced exploration updates from the Victoria project.
As quoted in the press release:
Further drilling at the Picaron porphyry copper target, which now totals 3,707m in seven diamond drill holes, has cut a fully formed, dioritic porphyry copper-gold-moly system, with multiple intrusive phases and veinlet types, but with low metal grades to date. However, the system remains open, particularly to the east under post-mineral cover. Further drilling under the cover will be considered in the future.
Iron Creek’s President, Tim Beale, said:
Although the Victoria property remains highly prospective for both porphyry copper mineralization and precious metals mineralization, with a number of targets subject to ongoing exploration, and several other targets requiring future exploration investment, current market conditions dictate that Iron Creek must reduce its interest in the project in order to bring future financing commitments to a more manageable level.
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