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Iconic Commences New MT Survey at Smith Creek Lithium Property, Nevada
Vancouver, British Columbia--(Newsfile Corp. - February 10, 2023) - Iconic Minerals Ltd. (TSXV: I...
About this update from Iconic Minerals Ltd
[{"type":"text","content":"Iconic Commences New MT Survey at Smith Creek Lithium Property, NevadaVancouver, British Columbia--(Newsfile Corp. - February 10, 2023) - Iconic Minerals Ltd. (TSXV: ICM) (OTCQB: BVTEF) (FSE: YQGB) (the \"Company\" or \"Iconic\") is pleased to announce it has commenced a new MT survey (the \"Survey\") at its Smith Creek Project (the \"Smith Creek\") in Lander County, Nevada. The purpose of the new Survey is to define the location and depths of high conductivity zones in the subsurface more precisely. Smith Creek has previously completed one MT line, surface sampling, including 5 shallow RC drill holes, which showed that the conductivity highs are over 2,000 feet (610 meters) below surface. There are 7 lines that comprise the Survey which average roughly 4.1 miles (6.6 kilometers) in length and are each spaced roughly 1 mile (1.6 kilometers) apart. The 7 lines cover nearly all of the dry lakebed.The MT lines are designed to run perpendicular to most faulting that has occurred in the Smith Creek basin, which will help define these structures. Faults serve both as fluid conduits and barriers. Understanding subsurface structure is therefore critical to exploring for a potential brine hosted lithium system. The 7 new lines of the Survey are designed to reveal the areas with highest lithium brine potential. Following the results of the Survey, a drill program will be implemented to target these newly defined high conductivity zones this summer.Qualified PersonRichard Kern, Certified Professional Geologist, a qualified person as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Mr. Kern is not independent of the Company as he is the Chief Executive Officer of Iconic.About the Smith Creek ProjectThe Smith Creek Project is located within Smith Creek Valley in Nevada, which is approximately 60 km (37 miles) long and 16 km (10 miles) wide. Quartz-rich volcanic tuffs containing anomalous amounts of lithium occur within and adjacent to the valley. Surface sampling around hot springs on patented ground just off the claim block assayed a maximum of 470 ppm Li. The gravity low within the valley is 16 km (10 miles) long, and the current estimates of depth to basement rocks range from 1,300 to 1,500 meters (4,200 to 5,000 feet). The current claim block covers an are...