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Iconic Minerals Identifies Potential Brine Zone at Smith Creek Valley Lithium Project, Nevada
Vancouver, British Columbia--(Newsfile Corp. - March 1, 2017) - Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) (the "Company" or "Iconic") is pl
About this update from Iconic Minerals Ltd
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - March 1, 2017) - Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) (the \"Company\" or \"Iconic\") is pleased to announce that it has completed interpretation of a Magneto Telluric (MT) geophysical survey (the \"Survey\") at its second lithium project, Smith Creek Valley (the \"Smith Creek\"), located 140 miles (225 km) east of Reno, near Austin, Nevada. The Survey has identified a major 4.47 mile (7.6 km) long resistivity low which is interpreted to be a brine horizon. The MT cross section can be viewed on the Company's website. The Survey was conducted along the long axes of the valley to determine the presence and the extent of the brine. The survey identified two probable brines. There is a thin, near surface anomaly that correlates with brine drilled by the USGS in a 1989 hydrology study of the basin. The USGS did not include an analysis of lithium within this study. The Survey also identified a deeper probable brine averaging 1,300 feet (400 m) in interpreted thickness, which dips gently to the south and extends beyond the Survey to the north. The top layer of this brine anomaly occurs 650-1,600 feet (200-500m) below the surface. There were two major interpreted faults identified on this section. Iconic believes it has identified a major brine target and will move forward with additional exploration of Smith Creek Valley. Further MT surveying is planned to identify potential feeder faults and optimize drill targets. It should be noted that Nevada experienced an extraordinary wet winter, which has delayed this work; however, plans will commence once the lake evaporates sufficiently. Iconic's Smith Creek Valley Lithium Property: Iconic currently controls 808 placer claims totaling 25.25 square miles (65.4 km2) over a major gravity low. The enclosed Smith Creek Valley Basin covers 582 square miles (1,507 km2), which is slightly larger than Clayton Valley Basin where lithium brines are produced. Smith Creek Valley is over +40 miles (+64 km) long in a north-northeast direction and averages 9 miles (14.5 km) in width. The vast majority of rock weathering into the basin is felsic ash flow tuff, which is an excellent source of lithium. A large gravity low under the southern portion of the valley has been filled with mud flat sediments that have a calculated...