Iconic Receives Core Drilling Geochemistry for 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 Receives Core Drilling Geochemistry for Bonnie Claire Lithium Project,
Nevada
Vancouver, B.C. - October 30, 2020 – Iconic Minerals Ltd. (“Company” or “Iconic” )
(TSX-V: ICM) (OTC: BVTEF) (FSE: YQGB) is pleased to announce that it has
received geochemical results for sediments from two core holes at the Bonnie Claire
Lithium Deposit in Nevada. Both drill holes contain intercepts of +1,000 ppm lithium and
continue to show that results are consistent with those from prior drilling. Sediment
geochemical analysis was done by ALS Chemex of Reno, Nevada.
Core hole BC2001C intersected 67 meters ( 220 feet ) averaging 1209 ppm Li and
contained a high of 1710 ppm Li. Core hole BC2002C contained a high of 1070 ppm Li.
Occasional lighter colored sediments seen in the core may indicate some leaching of
soluble elements is occurring. Water samples, highly diluted by added drill water, were
taken from each core hole. The water samples were analyzed for dissolved lithium by
Western Environmental Testing of Sparks, Nevada. Of the four samples taken the high
for dissol ved lithium was 38 ppm. The highest water sample taken in all of Iconic’s
previous drilling at Bonnie Claire , with the exception of one non -repeatable sample, was
4.1 ppm Li. As a result of these encouraging results the water sampling was also taken in
the RC drilling program. These samples were taken at rod changes after clearing the hole
of drill water.
The RC (reverse circulation) drill ing has now been completed. A total of four holes
ranging from 61 to 109 meters ( 200 to 358 feet ) were drilled to expand the resource and
collect samples for metallurgy . Samples have been sent for testing to ALS Chemex of
Reno Nevada for assaying. The drilling extended the current resource approximately
2,500 meters (8,200 feet) to the south.
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 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 feet). 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”
2
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
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.