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Iconic Minerals Receives Additional Drilling Assays for Bonnie Claire Lithium Project
Vancouver, British Columbia--(Newsfile Corp. - December 20, 2022) - Iconic Minerals Ltd. (TSX...
About this update from Iconic Minerals Ltd
[{"type":"text","content":"Iconic Minerals Receives Additional Drilling Assays for Bonnie Claire Lithium ProjectVancouver, British Columbia--(Newsfile Corp. - December 20, 2022) - Iconic Minerals Ltd. (TSXV: ICM) (OTCQB: BVTEF) (FSE: YQGB) (the \"Company\" or \"Iconic\") is pleased to provide an additional update on the 2022 drill program for the Bonnie Claire Lithium Project (the 'Project' or 'Property'), located in Nye County, Nevada. Geochemical results and final drill logs have been received for BC2002C and BC2004C. Results appear to show continuous Lithium mineralization in a shallow zone averaging 360 feet (110 meters) thick and a deeper zone averaging 900 feet (274 meters) thick. The drilling delineates an area 4,000 feet (1,220 meters) long in an east-west direction and 2,030 feet (618 meters) long in a north-south direction.Iconic Minerals Ltd CEO, Richard Kern, comments: \"Defining a shallow resource as well as a deeper, higher grade resource are steps toward future production. Both open pit mining and borehole mining are being explored to extract the mineralized material. The continuity of these two flat-lying mineralized horizons indicates similar mineralization may occur basin wide. Bonnie Claire continues to show itself to be one of the largest Lithium Resources in the U.S.\"The average Lithium grades of both mineralized zones drilled are similar in all holes drilled to date. The average grades for both horizons are shown in the table below. While the deeper zone is higher grade, both horizons are well above the 600 ppm cut-off used in the Company's resource estimate.Lithium in All Drill Holes SummaryZoneTotal Intercepts (ft)Total Intercepts (m)Average Li (ppm)Upper1444440.1312953Lower35751089.661854All Averages are Weighted Averages On the following page are a plan view, geology, and lithium values for Section A-A'. The plan shows three holes forming a nearly east-west section and the last path of the section nearly north-south. The Geology Section shows continuous, nearly flat sediments in all four holes. Lithium-rich fine sediments consisting of mudstone and claystone are separated by barren sandstone. A second, deeper sandstone is intersected in the two western-most holes and underlain by conglomerate. The Lithium Values Section shows all +600 ppm Lithium results. There is good correlation between both geology and lithium grade betw...