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Iconic Minerals Ltd.
Summary
| Project: | Bonnie Claire | |
|---|---|---|
| Deposit: | Bonnie Claire | |
| Location: | United States | |
| Commodities: | Lithium | |
| Date: | 9/26/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 26-9-2016: Iconic Minerals Ltd. announces an Exploration/Drilling Update report for its Bonnie Claire deposit at the Bonnie Claire project. Analysis of drill cuttings gives 110m @ 1730ppm Li from 299m. (September 26, 2016) – Iconic Minerals Ltd. (the “Com | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Richard Kern (Internal) | |
| ABSTRACT: | (September 26, 2016) – Iconic Minerals Ltd. (the “Company” or “Iconic”) (TSX-V: ICM) (OTC: BVTEF) (FSE: YQGB) is pleased to announce that it has received additional geochemical results from the sampling of drill cuttings (the “Samples”) taken from BC1601, the first monitor well drilled at its Bonnie Claire project (Refer to News Release dated, September 15, 2016). Starting where previous results ended at 980 feet (299 m) and continuing to 1,340 feet (408 m) lithium values range from 960 ppm to 2,550 ppm. Below 1,340 feet, lithium values gradually decrease to a low of 390 ppm near the bottom of the hole at 1,560 feet (475 m). These results show that lithium content is highly anomalous for a total of 1,180 feet (360 m). The Samples were collected in 20 foot (6.1 m) intervals, during the drilling of BC1601. The 360 feet (110 m) of samples taken from between 980 feet (299 m) and 1,340 feet (408 m) averaged 1,730 ppm lithium. The average lithium value for the entire 1,180 feet (360 m) intercept is 1,307 ppm. At this time it is unknown what if any relationship exists between lithium in the drill cuttings and lithium in associated brines. Iconic is also pleased to announce that it has initiated its second exploration monitor well (the “BC1602”) located approximately 1.43 miles (2.30 km) southeast of BC1601. The drill hole is currently approaching 1,000 feet (305 m) and is expected to be drilled to a total depth of 2,000 feet (610 m). Logging to date indicates BC1602 contains more abundant sand and less clay in sediments than BC1601.This indicates a shallower, near-shore environment, with abundant permeable strata. | |
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