(May 8, 2018) – Iconic Minerals Ltd. (TSX‑V: ICM) (OTC: BVTEF) (FSE: YQGB) has signed a contract to drill a deep drill hole at the Bonnie Claire Project, located in southern Nevada. This hole will be the third deep hole and allow the Company to do a resource analysis of the sediment hosted lithium discovered in 2016. Drilling will commence on May 15th, 2018.
A contract has been signed with Harris Exploration Drilling of San Diego, California. Using a mud-rotary rig the hole will be drilled vertically 610 meters (2,000 feet) if conditions allow. It will test the grade and thickness of lithium bearing sediments and also sample brines intersected by the drill hole. Sediment samples will be analyzed by ALS Chemex of Reno, Nevada. Brine samples will be analyzed by Western Environmental Testing Laboratory of Reno. Bulk sediment samples will also be collected and shipped to St-Georges Eco-Mining Corp. of Montreal for further metallurgical testing. Matt Vitale of South Lake Tahoe, California will be the consulting hydrologist for the drilling.
The Bonnie Claire Lithium Property Characteristics:
The Property is located within Sarcobatus Valley that is approximately 30 km (19 miles) long and 20 km (12 miles) wide, the associated drainage basin covers an area of 57 square km (22 sq mi). Quartz-rich volcanic rocks, that contain anomalous amounts of lithium, occur within and adjacent to the drainage basin. Geochemical analysis of the local salt flats has yielded lithium values up to 340 ppm. The gravity low within the valley is 20 km (12 miles) long, the current estimates of the depth to bedrock range from 600 to 900 meters (2,000 to 3,000 feet). The current claim block covers the brine bearing potion of the gravity low as defined by geophysics.
Richard Kern, Certified Professional Geologist (#11494) and CEO of Iconic is the Qualified Person who has prepared and reviewed this press release in accordance with NI 43-101 reporting standards.
On behalf of the Board of Directors
SIGNED: “Richard Kern”
Richard Kern, President and CEO
Contact: Keturah Nathe, VP Corporate Development (604) 336-8614
For further information on ICM, please visit our website at www.iconicmineralsltd.com. The Company’s public documents may be accessed at www.sedar.com
Forward Statement: This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Iconic expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.