Iconic Announces Additional Metallurgical Results Bonnie Claire Lithium Project, Nevada
Suite 303, 595 Howe Street, Vancouver, B.C. V6C 2T5
Phone: (604) 336-8614 Fax: (604) 718-2808
www.iconicmineralsltd.com
NEWS RELEASE
Iconic Announces Additional Metallurgical Results
Bonnie Claire Lithium Project, Nevada
(July 25, 2019) – Iconic Minerals Ltd. (“Iconic”) (TSX-V: ICM) (OTC: BVTEF) (FSE:
YQGB) is pleased to announce that St-Georges Eco -Mining Corp. ( CSE: SX) has
presented a Phase I Independent Review of its Phase I report titled "Bonnie Claire
Metallurgical Evaluation and Process Development ” to Iconic. SX has developed Nitric
Acid leaching methodology that puts between 99.97% and 100% of the lithium from the
sediments into solution at room temperature within 1 -4 hours. SX has reached the Phase
1 Benchmark which calls for the issuance of 2,000,000 of Iconic's common shares to St -
Georges. The shares will remain in escrow for three years. Iconic has also met its other
obligations derived from this agreement by participating in St-Georges' private placement
in January 2019 for CAD $100,000.
Additional details of the Nitric Acid leaching is quoted below from an SX press release
dated July 24, 2019:
St-Georges' Process: Selective Leaching with Nitric Acid
“Leaching with a passivating acid normally used to clean steel and passivate the welds of
stainless steel was performed in the hope of selectively removing the magnesium (Mg)
and all the salt metals like sodium (Na), calcium (Ca), lithium (Li) and magnesium (Mg).
The initial results with a 4 -hour leach showed that all the salt metals and carbonate
formations leached easily. This follows the logic of cleaning acid and leaves most of the
other elements behind, such as silica (Si), alumina (Ai), potassium (K).
Multiple 1-hour leach tests confirmed the leaching of 100% of the lithium leaving behind
most of the leachable elements from other acids such as potassium (K). The only loss of
lithium that occurred during some of these tests was du e to the water in the filter with the
solids and represented less than 0.03% of the total lithium value. It also corresponds
directly to the water retained with this type of fine material. Additional trials are being
performed with reduced time of contact and temperature to optimize the lithium -bearing
fines leaching.
2
The lithium in the super fines leached completely in each test performed with nitric acid.
The trials to selectively optimize leaching the lithium with less calcium and magnesium
are expected to be performed in the third quarter of 2019. It is expected that calcium can
be reduced partially by filtering the coarser calcium formation as per SGS results and
partially with less contact time with the acid. The same for magnesium. New samples will
be treated once received.”
Iconic looks forward to the SX Phase II report which will include plans for a pilot plant.
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. Quartz -rich volcanic tuffs, that contain anomalous
amounts of lithium, occur within and adjacent to the valley. Geochemical analysis of the
local salt flats has yielded lithium values up to 340 ppm. The gravi ty low within the
valley is 20 km (12 miles) long, and the current estimates of depth to basement rocks
range from 600 to 1,200 meters (2,000 to 4,000 feet). Four drill holes have identified an
open ended, 43 -101 compliant resource of 28.58 billion kilogra ms of lithium carbonate
equivalent. The drilling that defined the current resource only covered an area of 3.0
km2 (1.2mi2), while previously run MT geophysics show a potentially mineralized area of
27.3 km2 (10.5mi2). Drilling to date has shown strong cor relation between the MT results
and the lithium mineralization. The thickness of the lithium mineralization is unknown,
but drilling indicates it is greater than 600 meters (2,000 feet). The current claim block
covers an area of 57.5 km 2 (22.2mi2). Further drilling has been permitted and metallurgy
to determine the most efficient recovery method is currently in progress.
On behalf of the Board of Directors
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 St atement: 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.