• Iconic Minerals Ltd. (ICM) has provided an update on its recent lithium assays for the Bonnie Claire Lithium Project in Nevada
  • Results highlighted continuous lithium mineralization in a shallow zone which averaged 110 metres in thickness
  • Another, deeper zone was discovered with a 274-metre-thick average and showed higher-grade lithium mineralization
  • The company is now drilling hole BC2205C, which is expected to be done before the end of this year
  • Iconic Minerals Ltd. (ICM) is down 5.56 per cent and is trading at $0.08 per share as of 2:51 p.m. EST

Iconic Minerals Ltd. (ICM) has provided an update on its recent lithium assays for the Bonnie Claire Lithium Project in Nevada.

According to the company, geochemical results and final drill logs have been received for holes BC2002C and BC2004C. Results highlighted continuous lithium mineralization in a shallow zone which averaged 110 metres in thickness.

Another deeper zone was discovered with a 274-metre-thick average and showed higher-grade lithium mineralization. However, both zones exceeded the 600 parts per million cut-offs used in the company’s resource estimate.

The drilling outlined a target area that was 1,220 metres long in an east-west direction and another 618 meters long in a north-south direction.

CEO of Iconic Minerals, Richard Kern, commented,

“Defining a shallow resource, as well as a deeper, higher-grade resource, are steps toward future production… Bonnie Claire continues to show itself to be one of the largest lithium resources in the U.S.”

Iconic Minerals is exploring both open pit mining and borehole mining to extract the mineralized material. The continuity of the two flat-lying mineralized horizons shows there may be similar mineralization across the basin. The company is now drilling hole BC2205C, which is expected to be completed and in for assay before the end of this year.

Iconic Minerals Ltd. (ICM) is down 5.56 per cent and is trading at $0.08 per share as of 2:51 p.m. EST.


More From The Market Online

@ the Bell: Market drop and overseas tensions hurt TSX

Gains among materials and energy sectors couldn’t help Canada’s main stock index recover its weekly losses.

Red Light Holland’s largest psilocybin order received by CCrest Labs

Red Light Holland has revealed it has made its largest shipment to date of 5 kilograms of psilocybin truffles to CCrest Labs.

Centenario to begin Phase 2 exploration at Eden Property

Centenario Gold (TSXV:CTG) has revealed it is planning for the next phase of exploration at its...
Mandalay Resources - Mandalay's Costerfield gold operation in Australia.

Three top mining stocks from exploration to production

When picking top mining stocks, quality is the name of the game, regardless of their focus on exploration, development or production.