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a u g u s t / s e p t e m b e r 2 0 1 6 www.resourceworld.com 31 miNiNg Iconic Minerals starts lithium brine project drilling by Ellsworth Dickson Iconic Minerals Ltd. [ICM-TSXV; YQGB- FSE] has received encouraging results from its initial exploration at the 100%-con- trolled Bonnie Claire lithium brine project 30 miles north of Beatty, southern Nevada. The project is in the valley adjacent to North America's only producing lith- ium mine – Albemarle's Silver Peak Mine that has been in operation for about 50 years. A MagnetoTelluric (MT) geophysical survey has identified a widespread con- ductor interpreted to be a brine horizon averaging over 300 metres thick. The results show a well-defined, very low resistivity layer starting approximately 200 metres below the surface and getting deeper to the east. The low resistivity layer is interpreted to be a brine filled reservoir unit. Evaporitic material sampled on surface, was inter- preted to be derived from a brine which, when analyzed, was found to contain lith- ium values ranging from 50 to 340 ppm. These results followed an earlier report stating that several of the geophysical lines were underlain by open-ended anomalies which prompted the company to increase its land position to 28.75 square miles (75 km 2 ). Since the potential brine hori- zon extends beyond the original survey, an additional MT survey is under way to determine its extent. The claims cover the gravity low and associated mud flats that could be used for evaporation ponds if significant lithium brines are discovered with drilling. Iconic Minerals has a strong technical team that includes Dr. David Shaw, P.Geo, who was formerly Chairman of Salares Lithium whose Chilean lithium project was acquired by Talison Minerals. The team also includes Dr. Ian Hutcheon, P.Geo, who also consulted on the Chilean lithium project. Richard Kern, President and CEO, has extensive experience in exploration in Nevada where he was involved in several mineral discoveries. Referring to the prospectivity of the Bonnie Claire Project, Dr. Shaw told Resource World, "So far, so good. The grav- ity survey shows we have a large basin making for a major sediment host reservoir potential. We have sampled the evaporite surface material which contained lithium. Odds are that the brine we anticipate encountering at depth will contain lith- ium. The geophysical survey indicates the reservoir runs for kilometres in length and width and is hundreds of metres thick." He added that the grade will be determined with the upcoming drilling program. Iconic has secured water rights options for evaporation ponds. The company has been granted a notice of intent (NOI) by the Bureau of Land Management (BLM) to start its lithium brine drilling program. Six of the eight approved drill locations that were applied for through the BLM have been approved. A drilling rig is being mobilized to the property. The initial drilling program is three vertical drill holes designed to test poten- tial brine horizons identified by the MT geophysical surveys. Drill targets will be spaced an average of 1.3 miles (2.1 km) apart and drilled to depths of 1,200-2,000 feet (365-610 metres) deep. The brine target thickness to be tested, as defined by MT, ranges from 330-980 feet (100-300 m) thick. Iconic Minerals has raised about $3 mil- lion, sufficient for its Bonnie Claire lithium exploration plans. n www.resourceworld.com