- Nevada Lithium Resources Inc. (NVLH) and Iconic Minerals Ltd. (ICM) have provided an update on the Bonnie Claire Lithium Project
- Bonnie Claire is one of the largest lithium resources in North America
- Several core holes have been drilled to test high-grade lithium close to the surface
- Assays are pending with prospective visual indications so far
- Nevada Lithium Resources Inc. (NVLH) is up 12.5 per cent trading at $0.13 per share as of 4:16 p.m. ET
- Iconic Minerals Ltd. (ICM) is down 5 per cent trading at $0.09 per share as of 4:16 p.m. ET
Nevada Lithium Resources (NVLH) and Iconic Minerals (ICM) have updated their 2022 exploration plans for the Bonnie Claire Lithium Project in Nevada.
Bonnie Claire is one of the largest lithium resources in North America, with a current inferred mineral resource of 3.40 million tonnes grading 1,013 parts per million lithium.
Hole BC2201C reached a vertical depth of 610 metres, and all samples not collected for engineering use were submitted for geochemical analysis. Logging has been completed, and two thick zones of dark green claystone have been identified. The companies expect the initial assay results within a couple of weeks.
Hole BC2202C is west of BC2201C and tested whether higher grade lithium is closer to the surface than holes near the margins of the alluvial cover. The on-site rig drilled to 440 metres out of a planned 610 metres.
A second core rig arrived on site and is set up south of BC2201C. This drill hole, BC2203C, is further out on the playa than BC2201C and will also test whether higher-grade lithium is close to the surface. The hole has been completed at 609 metres and is currently being prepared for geophysical logging.
Vertical hole BC2201 will be drilled to a depth of 610 metres right next to BC2201C. Based on the previous drilling, the company anticipates that the core lithium values may be 10-15 per cent higher than the mud/rotary hole.
Nevada Lithium Resources Inc. (NVLH) is up 12.50 per cent, trading at $0.13 per share as of 4:16 p.m. ET.
Iconic Minerals Ltd. (ICM) is down 5 per cent trading at $0.09 per share as of 4:16 p.m. ET.