Twitter Facebook LinkedIn YouTube

Iconic Minerals mobilizes drill crew at Bonnie Claire Lithium deposit in Nevada

Video Platform Video Management Video Solutions Video Player

The Bonnie Claire property, located within Sarcobatus Valley, which is approximately 30 kilometers long and 20 kilometers wide, is one of the company’s two highly prospective Lithium exploration properties in Nevada, the other being the Smith Valley Creek Property.

Additional Information:

Company: Iconic Minerals
Website: http://www.IconicMinerals.com
Stock Symbol: TSXV: ICM
Date Published: Aug 11, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Iconic Minerals has mobilized a drill crew at its Bonnie Claire Lithium project in Nevada.

The Bonnie Claire property, located within Sarcobatus Valley, which is approximately 30 kilometers long and 20 kilometers wide, is one of the company’s two highly prospective Lithium exploration properties in Nevada, the other being the Smith Valley Creek Property.

The Bonnie Claire Lithium project is 60 kilometers southeast of Albemarle’s Silver Peak Mine in Clayton Valley.

The current claim block covers an area of 35 square kilometers with potential to be underlain by lithium-rich sediments, with quartz-rich volcanic tuffs, that contain anomalous amounts of lithium, occurring within and adjacent to the valley.

The gravity low within the valley is 20 kilometers long, and the current estimates of depth to basement rocks range from 600 to 1,200 meters.

Geochemical analysis of the local salt flats has yielded lithium values up to 340 parts per million.

Harris Exploration Drilling of Fallon, Nevada, has been engaged for both core and RC drilling.

The exploration program will consist of 3 to 5 vertical reverse circulation holes, approximately 90 to 120 meters in depth and 2 vertical core holes 90 to 120 meters in depth.

The RC drilling will provide additional samples for metallurgical testing as well as expand the existing resource.

The core holes will be the first drilled on the Bonnie Claire Project, and will be used in engineering studies for a Preliminary Economic Assessment.

All of the planned Drill Holes are south of Iconic's previous deep drilling in an area of linear lithium anomalies found by surface grid sampling.

Management hopes the sediment hosted lithium will begin very shallow in this area which may allow for future bulk sampling using an excavator.

In past drilling the shallowest depth of lithium rich sediments that was intercepted was at 6 meters and contained greater than 600 parts per million lithium, which increased at depth with lithium values up to 2,250 parts per million.

In addition to collecting the sediments for testing, because the surface anomalies may indicate near-surface lithium brine, preliminary semi-quantitative brine samples will also be taken from all holes during drilling.

The company’s gold exploration portfolio includes the New Pass property in the New Pass mining district, and the Squaw Creek property located in the northern area of the Carlin Trend.

The company is well funded having recently raised gross proceeds of $1 million from the placement of 20 million units priced at $0.05.

The shares are currently trading at $0.105.

For more information, please visit the company’s website at www.IconicMinerals.com, contact Keturah Nathe, VP Corporate Development at 604-336-8614 or by email at info@iconicmineralsltd.com

I’m Megan Edwards for Investmentpitch Media