Breaking News IROG: Ironwood Gold Completes Mobile Metal Ion Survey at Rock Creek Project, Nevada – Data Identifies 1.6km Gold Anomaly at Carlin Trend Location

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Ironwood Gold Corp.
(OTCBB: IROG)
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Ironwood Gold Completes Mobile Metal Ion Survey at Rock Creek Project, Nevada

Data Identifies 1.6km Gold Anomaly at Carlin Trend Location

SCOTTSDALE, AZ — (Marketwire) — Ironwood Gold Corp. (OTCBB: IROG) (the “Company”) is pleased to provide an update and announce the favorable results of the Mobile Metal Ion (MMI) soil survey that was completed October 12th at its Rock Creek property in Nevada.

The MMI data indicates a strong 1.6km long gold-arsenic anomaly that extends from the south east claim boundary to the western edge of the Bluto Claim Block. It should be noted that diamond drill hole CC-2 which is located at the North West side of the MMI stopped in Paleozoic rocks. A brief description of the hole is given from an N.I. 43-101 report prepared by Russell Crosby, P Geo.: “One hole (CC-2, penetrated a portion of the Paleozoic section. The top 265 feet of this hole penetrated altered tuff with numerous gold shows. At 240 feet the hole encountered 25 feet of weak gold mineralization and then bottomed in 135 feet of pyritized, carbonaceous siltstone. The bottom 180 feet of this hole contained 0.1 opt (‘ounce per ton’) Ag and was increasing notably in the bottom 50 feet.”

The Rock Creek property is in the northern part of the Carlin Trend and has similar geology and deep seated structures found in the mineralized zones within the more southern part of the trend. Newmont, Barrick and other companies have located and are mining gold deposits that have at least 1 – 5 million ounces of gold and some, like the Goldstrike mine (Barrick), had 17 million ounces of gold reserves in 2005. Newmont has reserves of over 33 million ounces and is the largest land owner in the trend. Over 50 million ounces of gold has been mined already and it is estimated that the trend has the potential to produce 200 million ounces.

The MMI method was chosen for the Rock Creek-Dry Creek claim blocks because this type of analysis of soil samples has been known to detect gold and other types of mineralization at depths of up to several hundred meters. There are two gold targets that have been modeled for these claim blocks; one a shallow vein/structure such as mineralized quartz veins and breccia zones located in the volcanic rocks that cover much of the property and deep seated Carlin trend type gold deposits located in the lower plate rocks. MMI geochemical maps are being prepared and Ironwood anticipates their completion shortly, at which time they will be published on the Company website at www.ironwoodgold.com.

The results from the Dry Claim Block have indicated several strong gold-arsenic anomalies with one very strong silver association and one with a very strong mercury anomaly. Since this claim block is adjacent to the Falcon Mine and some of the mineralized structure extend into the Dry Creek Claims it was not a surprise that the soil survey identified good gold soil anomalies.

Dr. Howard Lahti Ironwood’s VP of Exploration comments, “The MMI results have outlined a very evident gold arsenic anomaly that extends 1.6km in an approximately NNW-SSE direction in the southern part of the Bluto Claims. The anomalous zone is about 400m wide suggesting multiple mineralized quartz veins and /or breccia zones or substantial gold mineralization at depth… possibly in the lower plate rocks where Carlin type mineralization is found. The same area is currently undergoing a geophysical IP survey, so if anomalous IP results are coincident with the MMI anomaly then a very promising gold target would obviously be a prime candidate to be tested by a drilling program.”

Rock Creek with its geographical, geological and structural setting and indications of gold has the capability to host a similar 1 – 5 million ounce deposit with the potential of even greater than 5 million ounces. This is exemplified by the Jerritt Canyon gold deposit (10 – 25 million ounces) owned by Yukon Nevada Gold due east of the Rock Creek property and the Anglo Gold Property (2 – 5 million ounces) located just to the north of Jerritt Canyon.

Additional details regarding the Company and its agreements are filed as part of the Company’s continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission’s (“SEC”) EDGAR database. For more information visit: www.ironwoodgold.com.

ABOUT IRONWOOD GOLD CORP. (OTCBB: IROG)
Ironwood Gold Corp. is a mineral exploration and development company building a portfolio of prospective properties containing known deposits of strategic precious metals in politically stable, mining-friendly North American districts with recognized production histories.

Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements” as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

ON BEHALF OF THE BOARD

Ironwood Gold Corp.
—————————–
Behzad Shayanfar, CEO

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Investor Information:
Red Oak Communications, Inc.
Phone: 1-888-356-4942
Email: info@ironwoodgold.com

irog

Ironwood Gold Corp.
(OTCBB: IROG)
StockGuru ProfileCompany Website

Ironwood Gold Corp. (OTCBB: IROG)

Ironwood Gold Corp. engages in the acquisition, exploration, and development of mineral properties with a high quality portfolio of exploration properties being accumulated.

The three properties contain known deposits of gold and are located in Nevada, where 80% of all gold in America is produced today. These extraction opportunities were formerly available only to industry leaders such as Barrick, Newmont, Kinross and Placer Dome. Currently, Ironwood Gold has three substantial claims in Nevada. The Company was founded in 2007 and is based in Scottsdale, Arizona.

Unlike in the petroleum sector, there is no debate that the world is past “peak gold”. Very few world-class precious metal mines have been brought on line in the past two decades. Production from South Africa is on a rapid decline, and the majority of untapped resources remain in areas of significant political risk or unreasonable royalty requirements.

Ironwood Gold Corporation is in the right place, at the right time. Worldwide gold production is in serious decline while the metal is more in demand and more valuable than at any time in history. The Company has the projects, the corporate partners and the management team in place to rapidly become a significant regional producer for the world’s most precious resource.

Prospect Acquisition Plan

Ironwood Gold Corp. has three substantial claims in Nevada, including one in the Carlin Trend, the nation’s richest orebody:

  • Rock Creek
  • Cobalt Canyon
  • Haystack

Four Criteria for Mining Properties

1. The property must be adjacent to, or within the confines of, a district with an established history of economic mineral production.
2. The project must be located in a stable, mining-friendly political jurisdiction.
3. Previous work on the property must have established a very high probability of developing, and advancing to pre-feasibility stage, a minimum one-million gold-ounce equivalent resource.
4. Having satisfied these first three criteria, the project must qualify for financing to bankable feasibility.

Three Ironwood Nevada Gold Projects and
Relationship with Teck Mining (NYSE: TCK)

Ironwood has targeted several highly prospective locations in proximity to a number of major producing companies, assembled an expert team, developed a business relationship with Teck Mining, and has received three independent N.I. 43-101 reports detailing the assets and offering favorable exploratory recommendations. Teck Resources, Ltd. (NYSE- TCK),a $27 billion market cap corporation, is one of North America’s largest integrated resource companies. It is the largest and most profitable diversified mining and mineral processing companies in Canada.

Rock Creek Project – Ironwood’s Flagship Project

Ironwood’s flagship property is the 1,640-acre Rock Creek Project, a joint-venture with Teck Resources, Ltd.

Rock Creek is located in the prolific 50 million-ounce to-date (200 million ounces projected) Carlin Trend, Nevada’s richest ore body.

Ironwood controls 100 percent of the claim through the exploration phase, with Teck having a buy-back option of up to 65 percent of the project in return for financing and mining operations.

Rock Creek Project Highlights

  • Located in Nevada’s Carlin Trend
  • Second richest gold district in the world
  • Surrounded by major operators (Barrick, Newmont, Yukon- Nevada, Anglo Gold- Ashanti)
  • Has the capability to host a 1 to 5 million ounce deposit
  • Favorable structure and lithologies
  • Potential for greater than 5 million ounces
  • A region known to host large gold deposits

The Company’s recently completed N.I. 43-101-compliant survey estimates 1 million to 5 million ounces of economically recoverable gold-equivalent resources. If this grade of mineralization extends deeper or further along strike, as is the case in several other Carlin Trend mines, Rock Creek’s resource could grow proportionately.

(Rock Creek 43-101 Report)

An excerpt from the recent 43-101 independent survey summary follows:

“The potential of this strategically situated property can be put into context by realizing that many major companies have worked in the Carlin Trend (Texas Gulf, Homestake, Barrick, Goldfields, Placer Dome and Newmont) all who have found extensive gold deposits with alteration and major structures similar to that found in the Rock Creek claims. Similarly, rock sampling in a north/south direction over the claims by Teck Resources has found numerous rock chip surface samples with anomalous gold concentration.

This property is in the northern part of the Carlin Trend and has similar geology and deep seated structures found in the mineralized zones within the more southern part of the trend.” “Newmont, Barrick and other companies have located and are mining gold deposits that have at least 1-5 million ounces of gold and some, like the Goldstrike mine (Barrick), had 17 million ounces of gold reserves in 2005. Newmont has reserves of over 33 million ounces and is the largest land owner in the trend. Over 50 million ounces of gold has been mined already and it is estimated that the trend has the potential to produce 200 million ounces.”

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Potential

The objective on the Rock Creek property is to define a deep drilling target that may lead to the discovery of Carlin-type gold mineralization hosted in Palaeozoic sediments, preferably in the “lower plate” rocks. This property has already been the subject of several concerted exploration efforts. And although these efforts were directed primarily at discovering near-surface gold/silver resources, the data already collected could substantially aid in the campaign of exploring for deeper Carlin-type targets.

The Rock Creek area is underlain by a classic epithermal volcanic-hosted gold-silver epithermal system. The extensive alteration and total sized of the system, at greater than 9km in strike length, indicate high potential for discovery of significant mineralization.

In the northern Falcon and Red Cow areas, alteration and textural features suggest that the current surface may lie above potential high-grade Au-Ag mineralization at depth. Given these features and its location in gold-rich north central Nevada and proximity and similarity to the Midas high-grade epithermal vein discoveries, the Rock Creek property has strong potential for the discovery of similar high grade, underground mineable, bonanza Au-Ag vein systems.

Ironwood Gold proposes to develop and complete a thorough exploration program and to drill test the project in preparation for further development.

Haystack Property

The Haystack property is located in Pershing County, Nevada, approximately 70 km west of Winnemucca and encompass sixty federal mining claims of the Solo group covering 1.110 acres (450 ha). Gold-bearing quartz veins hosted in granodiorite were discovered in 1914 in the Haystack district. Evidence from historic underground mining of these veins, grading approximately one ounce per ton, attests to presence of a mineralized system. Past exploration has been sporadic, but demonstrates that two target types merit testing to fully evaluate the property:

(1) Large, low-grade intrusion-related gold. Analogous to Fort-Knox style of the Tintana Gold Belt of Alaska and the Yukon; and

(2) A system of stacked or laterally extending high-grade epithermal vein(s) or lying peripheral to the known mineralization.

Evidence from historic underground mining of these veins, grading approximately one ounce per ton, attests to the presence of a mineralized system. Gold mineralization on the Haystack property occurs within <1 m wide, generally north-south trending quartz veins with shallow to moderate dips to the east. The past producing veins graded up to several ounces gold per ton, however additional lower grade (ie. 1-4 g/t Au) veins exist proximal to the workings and have not been exploited. Additional narrow, <1 m gold-bearing quartz veins have been located away from the historic workings but the structural controls and extent of this mineralization have not been fully documented. Surface rock chip samples taken from the Haystack Project range up to 23 g/t Au. Other assay highlights include underground data with samples up to 130 g/t Au and 3.8 g/t gold over 3.0 m from a 2004 drill hole.

Ironwood controls 100 percent of the claim through the exploration phase, with Teck having a buy-back option of up to 65 percent of the project in return for financing and mining operations.
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Potential

Based on past sporadic exploration, the Haystack property clearly demonstrates the potential for a significant gold-mineralized system. The association of gold with quartz veins, their alteration mineralogy, geochemical association, structural controls and wider geologic setting provide evidence for the existence of both Fort Knox-style intrusion-related and epithermal-style mineralization. Furthermore, the presence of cover rocks to the east and the occurrence of mineralized quartz float in excess of 1 km from outcropping veins demonstrate how open the property is for evaluation. Ironwood Gold Corp. aims to develop and conduct a systematic exploration program as soon as practicable.

(Haystack Report)

Cobalt Canyon Property

Cobalt Canyon in southeastern Nevada is wholly owned by Ironwood. The Company’s recently performed 43-101 report estimates of 1.3 to 3 million ounces of recoverable gold-equivalent resource.

  • Potential for 1.5 million ounces of gold
  • High grade ore samples – 1.16 opt Au
  • Cobalt Canyon in southeastern Nevada is wholly owned by Ironwood.

Given the high grades in some samples – up to 1.16 opt Au, Cobalt Canyon appears to have potential for an underground mine. If mineralization is also disseminated in wall rocks around the mineralized structures as suggested by several samples, the property may also hold tonnages and grades that could support an open-pit mine. The block outlined by current surface sampling could hold 69 million metric tons; if the ore were a grade of 0.02 opt Au, the project could contain approximately 1.5 million ounces of gold. If this grade of mineralization extended deeper or farther along strike, the resource could approach 3 million ounces of gold. Although the possibility of a deposit this size is limited, the potential for discovering up to 1.5 million ounces of gold on the project appears to be quite good.We believe that the project deserves substantial exploration. Ironwood’s work on Cobalt Canyon during 2010 will include verification of historical drill results by Homestake et. al, along with further in-fill and step-out reverse-circulation drilling to prove up the deposit to 43-101 resource estimate standards.


Potential

Additional deep drilling below the oxide levels to determine sulfide grades in the quartzites is also anticipated. Cobalt Canyon appears to have potential for 1.5 million ounces of gold—and possibly considerably more—as either an open-pit or underground target. Given the high grades in some samples—up to 1.16 opt Au, Cobalt Canyon appears to have potential for an underground mine. If mineralization is also disseminated in wall rocks around the mineralized structures as suggested by several samples, the property may also hold tonnages and grades that could support an open-pit mine. The block outlined by current surface sampling could hold 69 million metric tons; if the ore were a grade of 0.02 opt Au, the project could contain approximately 1.5 million ounces of gold. If this grade of mineralization extended deeper or farther along strike, the resource could approach 3 million ounces of gold. Although the possibility of a deposit this size is limited, the potential for discovering up to 1.5 million ounces of gold on the project appears to be quite good. We believe that the project deserves substantial exploration.

(Cobalt Canyon Report)

Management and Board of Directors

Mr. Behzad Shayanfar | CEO
He began as a civil engineer overseeing major construction projects in Iran. Was a team member tasked with the network strategy design for a multimillion-dollar oil exploration project in southern Iran. Became a lead project manager assisting in design and build of the national broadcasting center. He earned a second degree from the London School of Economics and became a highly successful commodities futures trader. He moved into private investor/developer real estate opportunities in Dubai, India, the U.K. and the U.S. then determined to apply his business and financial acumen to the resource sector.

Mr. Robert J. Reukl | President
Mr. Reukl has worked as a geologist in the mineral exploration and mining business for over 25 years. His work has taken him to many of Canada’s major mining camps including Val D’Or, Rouyn/Noranda, Timmins and Hemlo and has worked for a variety of major mining companies and consultants including Placer Dome Canada, Noranda and A.C.A. Howe International Ltd.

Rodney A. Blakestad | Director
Mr. Blakestad is a senior exploration and resource geologist with more than thirty years North American and international experience. Mr. Blakestad was involved in exploration throughout interior of Alaska resulting in more than 20 mineral discoveries. He has acted as Principal Investigator for numerous placer gold, lode gold, and tungsten exploration projects and has been involved in regional reconnaissance and exploration for gold, silver and/or platinum group metals (PGM) deposits in Mexico, Ghana, Guyana, Alaska, and Nevada.

Dr. Howard Lahti | VP Exploration, Director
Dr. Lahti has worked in a wide variety of exploration roles beginning in 1967 with Texas Gulf Co, followed by stints with Dresser Minerals Inc, Boliden Preusag, Millennium Gold (Thailand) Ltd., Pancontinental (Canada) Ltd, Barringer Research and Cerro Canada Ltd. He has focused on both precious and industrial metals throughout a career that has taken him around the world, from Canada, to South America, to Africa and Asia. He has managed drilling and other mineral exploration projects for diamonds, gold and base metals in Ontario, Northwest Territories, British Columbia, Panama, Brazil, Peru and Africa. He also incorporated and ran Deep Search
Exploration Technologies Inc. (DSET), a geochemical service company.

Dr. Petra I. Zasterova | Director
Dr. Zasterova is currently the Chief Operating Officer responsible for Europe, Middle East & Africa (EMEA) affairs for Calyon CIB of London, a subsidiary of Credit Agricole Group S.A., the largest retail bank in Europe with more than 21 million clients and a presence in over 60 countries. She is fluent in seven European languages and upon a wide variety of EMEA banking issues.

Andy McCreath | Advisory Board Member
Mr. McCreath is a noted marketing, public relations and communications professional and producer of sophisticated geopolitically relevant and market-centric conferences and events. His projects encompass such topics as bilateral relations, macro-economics, leadership and global communications. He has produced many national events and has worked with many well-known and influential global leaders.

David Bensimon | Advisory Board Member
Mr. Bensimon is an award-winning author, acclaimed forecaster, hedge-fund manager and prolific speaker at industry conferences, educational seminars, and company roadshows around the world. His insightful analysis can regularly be found in the financial media on television, radio, print and the internet. He brings over 20 years of experience with interbank, exchange-floor, and proprietary trading and investing across foreign exchange, interest rate, equity index, and commodity markets.

Ironwood Gold Corp.
7047 East Greenway Parkway
Suite 250
Scottsdale, AZ 85254
United States – Map
Phone: 888-356-4942
Website: http://www.ironwoodgold.com

About: Ironwood Gold Corp. is a mineral exploration and development company building a portfolio of prospective properties containing known deposits of strategic precious metals in politically stable, mining-friendly North American districts with recognized production histories.

Notice Regarding Forward-Looking Statements This news release contains “forward-looking statements” as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.


irog

Ironwood Gold Corp.
(OTCBB: IROG)
StockGuru ProfileCompany Website
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