Pampa Sur Project - Strong Ag-Sb-As Geochemical Anomalies Defined

VANCOUVER, Sept. 30 /CNW/ - Iron Creek Capital Corp. (TSX-V: IRN) is pleased to announce progress on its 100% owned Pampa Sur Project ("Pampa Sur") in northern Chile. The project covers approximately 11,300 hectares and more than 15km of continuous strike length of the prospective Dominador Fault Zone (DFZ). The DFZ lies within the Palaeocene-Eocene volcanic belt of northern Chile that hosts some of the most important precious metals and copper deposits in the country. Highlights of the recent work at Pampa Sur include:

    
    -   Definition of two significant trends with broadly coincident surface
        colluvial arsenic, antimony and silver anomalies - the typical
        geochemical expression of El Penon style low-sulphidation epithermal
        precious metals veins.

    -   A separate, large, surface colluvial pH anomaly suggesting the
        presence of acid from oxidizing sulphide mineralization in the
        underlying bedrock, coincident with a surface colluvial molybdenum
        anomaly.
    

The clear anomalies defined by Iron Creek's work will be followed up with geophysical survey lines, probably CSAMT, in order to better define specific mineralized structures and veins in the underlying bedrock, ahead of drill testing (CSAMT has proven successful at detecting narrow quartz veins and similar structures at the Yamana's El Penon and Fortuna deposits).

Iron Creek is exploring the Pampa Sur property for epithermal gold and silver mineralization of El Penon/Fortuna and Guanaco types, and also for possible porphyry copper mineralization. The project is located approximately 40km south-southwest of Yamana's El Penon and Fortuna deposits (+6 million oz gold and +185 million oz silver), and immediately south of Iron Creek's Pampa Buenos Aires project which is being explored in joint venture with Andina Minerals.

    
    Geological Setting of Pampa Sur
    -------------------------------
    

The property is largely covered by post-mineral gravels with sparse outcropping Palaeocene-age volcanic rocks towards the southwest of the property area. The property is cut by strands of the DFZ, which defines the structural grain of the project area.

The Palaeocene to Early Eocene Volcanic Belt of northern Chile underlies much of the Atacama Desert in the Antofagasta and Atacama regions of northern Chile. The belt extends north-south for about 600km and is bounded to the west by the Coastal Cordillera and to the east by the Domeyko Cordillera. The geology of the belt is dominated by Late Cretaceous to Early Tertiary calc-alkaline to sub-alkaline bimodal volcanic rocks that range from basaltic andesite to rhyolite, and by sub-volcanic porphyritic intrusions and granitoid stocks.

The portion of the belt between Sierra Gorda in the north and Sierra Overa in the south, which includes Pampa Sur, is characterized by exposures of felsic volcanic rocks, and is host to several precious metal epithermal deposits including the El Penon and Fortuna gold-silver deposits, as well as other significant precious metal deposits at San Cristobal, Faride, El Soldado, Cachinal de la Sierra, El Guanaco, Amancaya and Sierra Overa.

    
    Work Completed To Date
    ----------------------
    

Geological and float mapping and sampling were carried out in conjunction with colluvial and soil pH & ICP geochemical survey programs in three phases. The first sampling phase, between October 2007 and May 2008, consisted of approximately 76 line kilometers along 200m spaced east-west lines, with samples every 25 meters (3,900 samples). At the end of the second quarter of 2009, Iron Creek resumed geochemical surveying at Pampa Sur, focused on the eastern half of the property. The second sampling phase consisted of approximately 40 line kilometers along 1km spaced east-west lines with sampling every 25m (1,715 samples). A third phase of sampling was designed to infill geochemical anomalies with shorter 200m spaced east-west lines, totaling 1,560 samples.

In early 2008 Argali Geofisica Chile E.I.R.L. conducted ground magnetic surveys on a portion of the Pampa Sur property with a line spacing of 50m and readings acquired as a continuous profile on E-W lines. A total of 920 line kilometers of data were acquired.

    
    Results to Date
    ---------------
    

Results from the colluvial and soil geochemical programs are extremely encouraging. As can be seen from the accompanying maps on Iron Creek's website, largely coincident arsenic (refer to link No. 1 below), antimony (link No. 2) and partially coincident silver (link No. 3) geochemical anomalies occur to the east of the DFZ along an approximately 7km long by 1-2km wide zone that trends north-northwest. This is a significant As-Sb-Ag anomaly, with the three metals that are commonly associated with low-sulphidation precious metals veins of the El Penon type - the main target type sought on the property. The zone is open to the north-northwest (onto Iron Creek and Andina Minerals' Pampa Buenos Aires property) and to the south-southeast.

A second, smaller, but very intense coincident arsenic, antimony and silver anomaly occurs to the west of the DFZ (links No. 1-3 below). This anomaly trends approximately north - south and is about 2.5km long by 0.5km wide, although arsenic anomalies continue more than 2km further to the south. It is broadly coincident with a number of quartz float occurrences.

Other smaller anomalies of one or more of these three key indicator metals occur within the property, and may prove to be significant.

Additionally, a large surface colluvial low pH anomaly has been detected in the NW corner of the property coincident with a surface colluvial molybdenum anomaly. The pH anomaly suggests that oxidizing sulphides - related to mineralization in the underlying bedrock - may be present below the colluvial cover (link No. 4, link No. 5). However, the exact significance of these coincident anomalies remains to be determined.

Other, narrow pH anomalies likely represent underlying mineralized structures or veins in the bedrock.

Associated Links:

Link No. 1 pH and As targets: http://www.ironcreekcapital.com/i/maps/PampaSurAs.jpg

Link No. 2 pH and Sb targets: http://www.ironcreekcapital.com/i/maps/PampaSurSb.jpg

Link No. 3 pH and Ag targets: http://www.ironcreekcapital.com/i/maps/PampaSurAg.jpg

Link No. 4 pH targets: http://www.ironcreekcapital.com/i/maps/PampaSurpH.jpg

Link No. 5 pH and Mo targets: http://www.ironcreekcapital.com/i/maps/PampaSurMo.jpg

    
    QA/QC
    -----
    

Geochemical samples are collected in accordance with accepted industry standards and best practices. Iron Creek carries out its own in-house pH measurements on colluvial and soil samples and applies standard protocols as part of the quality control methodology. Samples are then submitted to ALS Chemex Laboratories in La Serena, Chile, for preparation by PREP41 (250gr), with digestion by aqua regia and analysis for 35 elements by ICP-AES. Gold is analysed by 50gm fire assay. As standard procedure, Iron Creek conducts routine quality-assurance and quality-control analysis on all assay results, including the systematic utilization of certified reference materials, blanks and field duplicates.

    
    Qualified Person
    ----------------
    

Demetrius Pohl, P.Geo., is the Company's Qualified Person as defined by National Instrument 43-101, and is responsible for the accuracy of the technical information in this news release. Dr. Pohl has verified that it is an accurate summary of the results from the Pampa Sur exploration programme to date.

    
    About Iron Creek
    ----------------
    

Iron Creek Capital Corp. is a Vancouver-based mineral exploration company engaged in the acquisition and exploration of precious and base metals projects in Chile.

ON BEHALF OF THE BOARD

    
    "Timothy J. Beale"
    Timothy J. Beale, President
    

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release

    
    Forward-Looking Statement
    -------------------------
    

Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Iron Creek Capital Corp. Actual results may differ materially from those currently anticipated in such statement.

For further information: Suite 830-355 Burrard Street, Vancouver, BC, Canada, V6C 2G8, T: [phone], F: [phone], www.ironcreekcapital.com, [email protected]