# Iconic Minerals Initiates Drilling at New Pass Gold Property, Nevada

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/iconic-minerals-initiates-drilling-at-new-pass-gold-property-nevada--2eda5ff2-3a6f-4298-85fe-a1b0c7b26ea1

Original source: https://money.tmx.com/en/quote/ICM/news/6872056935957814/iconic-minerals-initiates-drilling-at-new-pass-gold-property-nevada

Publisher: tmx

Original announcement: 2026-05-21T15:44:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Iconic Minerals Ltd.

- Ticker: ICM

- Exchange: TSX

- Region: Nevada

- Primary commodity: Gold

- Secondary commodities: Silver

- Document categories: Drill results, Resource update

- Extracted: 2026-08-20 22:48:10 UTC

Narrative sentiment: 0.40 · Bullish

## Minestarters Atlas summary

Iconic Minerals has commenced HQ core drilling at the New Pass Gold Property in Nevada to test extensions of a known Carlin-type gold-silver system. The company aims to expand the existing inferred resource, which currently contains approximately 282,980 ounces of gold.

Reasoning: The announcement marks the commencement of a new drilling program to expand an existing resource, but lacks new intercept data.

- Positive factor: drilling underway at a known Carlin-type system

- Positive factor: existing inferred resource provides a technical foundation

- Positive factor: excellent core recovery reported

- Negative factor: no new assay results reported in this release

Facts used in scoring: 3

## Classification and evidence

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: The resource is entirely categorized as Inferred.

Evidence · text

> Inferred Resource Summary

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: The release mentions drilling core will be processed at ALS Limited laboratories for fire assay analysis.

Evidence · text

> Drill core will be processed in Reno, Nevada before shipment to ALS Limited laboratories for fire assay analysis.

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: Richard Kern, a Qualified Person, has reviewed and approved the technical information.

Evidence · text

> Qualified Person Richard Kern, Certified Professional Geologist, a qualified person as defined by NI 43-101, has reviewed and approved the technical information

## Extracted facts

Stored fact records: 3. Some facts used in scoring do not have a stored record.

## Drill Results (3)

### Fact 1

[Link to this fact](https://atlas-staging.minestarters.com/news/iconic-minerals-initiates-drilling-at-new-pass-gold-property-nevada--2eda5ff2-3a6f-4298-85fe-a1b0c7b26ea1#fact-drill-facts-0)

gold

#### Identity

- Commodity: gold
- Ticker: ICM

#### Geometry

- Grade: 0.018
- Grade Unit: oz/ton

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Existing inferred resource component of the deposit.

- Positive factor: established scale

- Negative factor: inferred category

Evidence · text

> Average Gold Grade: 0.018 oz/ton Contained Gold Ounces: 282,98

### Fact 2

[Link to this fact](https://atlas-staging.minestarters.com/news/iconic-minerals-initiates-drilling-at-new-pass-gold-property-nevada--2eda5ff2-3a6f-4298-85fe-a1b0c7b26ea1#fact-drill-facts-1)

silver

#### Identity

- Commodity: silver
- Ticker: ICM

#### Geometry

- Grade: 0.202
- Grade Unit: oz/ton

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Existing inferred resource component of the deposit.

- Positive factor: established scale

- Negative factor: inferred category

Evidence · text

> Average Silver Grade: 0.202 oz/ton Contained Silver Ounces: 3,139,054

### Fact 3

[Link to this fact](https://atlas-staging.minestarters.com/news/iconic-minerals-initiates-drilling-at-new-pass-gold-property-nevada--2eda5ff2-3a6f-4298-85fe-a1b0c7b26ea1#fact-drill-facts-2)

gold

#### Identity

- Commodity: gold
- Ticker: ICM

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-05-21T00:00:00.000Z

Reasoning: Reported gold-equivalent grade for the inferred resource.

Evidence · text

> Average Grade AuEq: 0.022 oz/ton

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.