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Iconic Completes MT Survey and Expands Claim Block Smith Creek Lithium Property, Nevada
Vancouver, British Columbia--(Newsfile Corp. - May 12, 2023) - Iconic Minerals Ltd. (TSXV: ICM) (...
About this update from Iconic Minerals Ltd
[{"type":"text","content":"Iconic Completes MT Survey and Expands Claim Block Smith Creek Lithium Property, NevadaVancouver, British Columbia--(Newsfile Corp. - May 12, 2023) - Iconic Minerals Ltd. (TSXV: ICM) (OTCQB: BVTEF) (FSE: YQGB) (the \"Company\" or \"Iconic\") is pleased to announce it has completed a new Magnetotellurics (MT) survey at its Smith Creek Project in Lander County, Nevada. The 7 lines, interpreted by Fritz Geophysics, revealed a low resistivity zone roughly 1000 feet (305 meters) below surface that may indicate a brine system or salty sediments, as seen in the figure below. This was the target of the MT survey, and the spatial definition of this large, low resistivity layer is now much better understood. In several MT sections, such as the one below, the lower resistivity target is interpreted to be at least 700 feet (213 meters) thick.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4609/165908_7eb5cab964a0cb9e_002full.jpgRichard Kern, CEO of Iconic Minerals, comments: \"The Smith Creek Basin has a large area underlain by what our geophysicist calls brine. Additional work to further define and rank drill targets is planned before drill testing. This work should define high angle faults and permeable horizons capable of hosting lithium-rich fluids or sediments.\"In response to the encouraging results of the MT survey, the claim block at Smith Creek has been expanded from 566 claims to 818, and now covers an area of roughly 26 square miles (67 square kilometers). While the new MT lines have enhanced understanding of the low resistivity zone's extents and properties, additional MT, along with other geophysical methods including active or passive seismic, are being evaluated to better define the target. 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 sa...