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Project: | Bonnie Claire | |
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Deposit: | Bonnie Claire | |
Location: | United States | |
Commodities: | Lithium | |
Date: | 11/1/2018 | |
Report Code: | NI43-101 | |
Report Type: | Resource Estimation | |
Project Stage: | Pursuing Resources Definition | |
Report details: | 1-11-2018: Iconic Minerals Ltd. announces a Resource Estimation report for its Bonnie Claire deposit at the Bonnie Claire project. Initial mineral resource estimate for the project. (November 1, 2018) – Iconic Minerals Ltd. (“Company” or “Iconic”) (TSX-V: | |
Resources: | (Resource, Inf.): 5574t @ 963ppm Li | |
CP/QP: | [Resources]: Terre Lane (Global Resource Engineering Ltd.) | |
ABSTRACT: | (November 1, 2018) – Iconic Minerals Ltd. (“Company” or “Iconic”) (TSX-V: ICM) (OTC: BVTEF) (FSE: YQGB) is pleased to announce it has completed a NI 43-101 technical resource study of the Bonnie Claire Project (“Project” or “Bonnie Claire”). The report defined an Inferred resource of 5.370 billion kilograms (kg) or 11.839 billion pounds of (LCE). The lithium carbonate equivalent consists of lithium carbonate and lithium chloride. The average grade of the current resource is 963 ppm lithium. The National Instrument 43-101 Mineral Resource Estimate will be filed on SEDAR within 45 days and carries an Effective Date of October 30, 2018. The report resource was estimated by Terre Lane, MMSA Qualified Professional and SME Registered Member, of Global Resource Engineering Ltd. (GRE) of Denver, Colorado. GRE has extensive experience in the resource estimation, mining, and extraction of sedimentary-hosted deposits. The mineral resource estimate incorporates geologic and assay results from drilling of four drill holes done by Iconic in 2016 to 2018.The four drill holes, total 1,737.4 meters (5,700 feet), with an average depth of 434.4 meters (1,425 feet) per hole. Assaying was performed using 6.096-meter-long (20-foot-long) sample intervals by ALS Chemex of Reno, Nevada. GRE created 100-meter composites at consistent elevations between the four drill holes. GRE modeled the composite grades into the 2000-meter diameter maximum area surrounding each drill hole, assuming a constant distribution of grade throughout each 100-meter interval. Using estimated mining and processing costs GRE estimated a cutoff grade of 400 ppm lithium. The results are as follows: | |
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