Iconic Completes Core Drilling and Initiates RC Drilling at Bonnie Claire Lithium Project, Nevada
ICONIC MINERALS LTD.
Suite 303, 595 Howe Street
Vancouver, B.C. V6C 2T5
Phone: (604) 336-8614 Fax: (604) 718-2808
www.iconicminerals.com
Iconic Completes Core Drilling and Initiates RC Drilling at Bonnie Claire Lithium
Project, Nevada
Vancouver, B.C. - September 28, 2020 – Iconic Minerals Ltd. (“Company” or “Iconic”)
(TSX-V: ICM) (OTC: BVTEF) (FSE: YQGB) is pleased to announce that it has
completed two core holes at the Bonnie Claire Lithium Deposit in Nevada. A total of 221
meters (726 feet) of drilling was completed in the two vertical holes.
Both NQ (7.57 cm. or 3 inch diameter) core holes had excellent recovery except in rare
sandy beds. Dark green claystone, indicative of lithium bearing sediments, were
intersected from 2.4 meters (8 feet) to total depth in both holes. The claystone is overlain
by thin alluvial cover. The core was quartered using a core saw and one quarter sent to
ALS Chemex in Reno, Nevada for multi-element analysis. Results are expected in 15-20
days. The remaining core will be used in engineering studies for a Preliminary Economic
Assessment (PEA).
An RC (reverse circulation) drill rig is being mobilized to the site and will drill 3 -5 holes
to expand the resource and collect samples f or metallurgy. Water samples will be taken
from cuttings exiting the drill hole at 6 meter (20 foot) intervals. Because water is added
to the hole during drilling this is a simple but imprecise way of determining if there is
anomalous lithium or boron in the groundwater. Because of the current slow turn -around
of geochem lab , results for both sediment and water sampling is not expected for 5 -6
weeks.
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 va lley. 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, and the current estimates of depth to basement rocks
range from 600 to 1,200 meters (2,000 to 4,000 f eet). The current claim block covers an
area of 35 km2 (13.5 mi2) with potential to be underlain by lithium-rich sediments.
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.iconicminerals.com
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The Company’s public documents may be accessed at www.sedar.com
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.