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Iconic Minerals Ltd.
Summary
| Project: | Bonnie Claire | |
|---|---|---|
| Deposit: | Bonnie Claire | |
| Location: | United States | |
| Commodities: | Lithium | |
| Date: | 9/15/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 15-9-2016: Iconic Minerals Ltd. announces an Exploration/Drilling Update report for its Bonnie Claire deposit at the Bonnie Claire project. Analysis of drill cuttings gives 250m @ 1020ppm Li from 49m. (September 15, 2016) – Iconic Minerals Ltd. (the “Comp | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Richard Kern (Internal) | |
| ABSTRACT: | (September 15, 2016) – Iconic Minerals Ltd. (the “Company” or “Iconic”) (TSX-V: ICM) (OTC: BVTEF) (FSE: YQGB) is pleased to announce that it has received the first geochemical results from the sampling of drill cuttings (the “Samples”) taken from BC1601, the first monitor well drilled at its Bonnie Claire project. Beginning at a depth of 160 feet (49 m) and continuing to the ending sample at 980 feet (299 m) lithium values range from 800 ppm to 1,410 ppm. These highly anomalous results verify that lithium is abundant in the sediments within Bonnie Claire basin. The Samples were collected in 20 foot (6.1 m) intervals, during the drilling of BC1601. The 820 feet (250 m) of samples taken from between 160 feet (49m) and 980 feet (299 m) averaged 1,020 ppm lithium. Additional Sampling results are pending for the remainder of the drill hole [total depth = 1,560 feet (475 m)]. Clay minerals including Hectorite are the probable host for the lithium. At this time, it is unknown what if any relationship exists between lithium in the drill cuttings and lithium in associated brines. The drill cuttings sampling of BC1601 was conducted by an independent geologist following QC guidelines and shipped to ALS Chemex in Reno, Nevada for analysis. ALS Chemex is an ISO registered and accredited laboratory. Brine sampling of the well is expected to be completed shortly and additional drill cuttings geochemical results are pending. | |
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