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Iconic Releases Resource Report That May Indicate Bonnie Claire Is the Largest Known Lithium Resource in North America
Vancouver, British Columbia--(Newsfile Corp. - September 1, 2021) - Iconic Minerals Ltd. (...
About this update from Iconic Minerals Ltd
[{"type":"text","content":"Iconic Releases Resource Report That May Indicate Bonnie Claire Is the Largest Known Lithium Resource in North AmericaVancouver, British Columbia--(Newsfile Corp. - September 1, 2021) - Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) (the \"Company\" or \"Iconic\") is pleased to announce it has released an updated NI 43-101 resource report for the Bonnie Claire project (the \"Property\") located 48 km (30 miles) north of Beatty, Nevada. The report was done by Global Resource Engineering Ltd. (\"GRE\") of Denver, Colorado. Modelling the resource using two open pits in areas of shallow higher grade lithium mineralization along with borehole mining of deeper high grade mineralization GRE calculated an Inferred Resource estimate of 18.68 million tonnes of Lithium Carbonate Equivalent (LCE) (the \"Resource\"). This Resource is significantly larger than identified resources reported by other lithium companies in Nevada.GRE reported using data collected from drilling results of three deep drill holes (average 550 meters or 1,800 feet) and seven shallow drill holes (average 90 meters or 300 feet) drilled to date. The resource estimate was completed using Leapfrog® Geo and Leapfrog® Edge software. GRE used three estimation methods to model Li grade into a block model: inverse distance to the second power (the \"ID2\"), ordinary Kriging (Kr), and nearest neighbor (NN). The block model was validated and classified as the inferred resource.\"For the shallow, pit constrained resource, GRE generated pit shells using Lerchs-Grossman \"pit optimizer\" software, where two open pits on the Property were defined. The first identified pit is located under the shallow portion of deep hole BC 1601 and the second identified pit is located under the shallow drill holes BC 2001C, BC 2003 and BC 2006, at 3,000 meters (9,800 feet) to the south. GRE designed the pits based on experience and benchmarking against similarly defined projects. GRE states it \"considers that the two blocks located within the resulting conceptual pit envelope show \"reasonable prospects for economic extraction\" and can be reported as a mineral resource\". The Resource is reported in the table below which was extracted from the NI 43-101 technical report.For the deeper, potentially borehole mineable and much larger resource, GRE used past experience with ...