Resource News

Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) (the "Company" or "Iconic") and its 50% partner in Bonnie Claire, Nevada Lithium Resources Inc. (CSE: NVLH) (FSE: 87K) ("Nevada Lithium") are pleased to provide an update on the 2022 mineral exploration and development work that has commenced on the Bonnie Claire Lithium Project (the 'Project' or 'Property'), located in Nye County, Nevada.

Drill contracts for mud rotary and core drilling at the Property have been signed with initial drilling expected to begin shortly. Site preparations have begun, with initial work being conducted under the Notice of Intent ("NOI") environmental permit currently in place. Further drilling will commence after the approval of the Plan of Operations. The drill program will include core and mud rotary drilling. The core drilling contractor is American Drilling Corporation based in Spokane Valley, Washington. All mud/rotary holes will be drilled by Harris Exploration Drilling based in Fallon, Nevada.

The core program will test to depths of 2,000 feet (610 meters) and gather material for metallurgical testing, and geochemical sampling to support a targeted increase in mineral resource confidence from the inferred category to the indicated and measured categories. As part of the program, geological core logging, geotechnical analysis, and water sampling will be completed. Geophysical surveying of the core hole will also be completed and aid in targeting permeable zones ahead of pumping tests.

The next phase of metallurgy has begun using previously drilled material and is being conducted by Hazen Research Inc. under the guidance of Global Resource Engineering Ltd. The source material for this phase of metallurgy is core from last year's drilling and will be supplemented with material from the pending 2022 drill program upon its completion. The metallurgical program being advanced at Hazen will build upon the work completed as part of the recently completed Preliminary Economic Assessment, and include the essential components required to support a Prefeasibility Study on the Bonnie Claire Project. This includes further derisking and demonstration of the flowsheet through to the production of marketable battery grade lithium carbonate.

The Company has also contracted Barr Engineering Company of Minneapolis to design and execute a demonstration test program for borehole mining at Bonnie Claire. Geotechnical information collected from core holes and down-hole well testing will be used to design and carry-out the borehole test. A borehole mining approach offers the opportunity to significantly reduce surface disturbance compared to a conventional open pit operation.

Qualified Person

Richard Kern, Certified Professional Geologist, a qualified person as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Mr. Kern is not independent of the Company as he is the Chief Executive Officer of Iconic.

Bonnie Claire Property

The Bonnie Claire Property is located within Sarcobatus Valley, which is approximately 30 km (19 miles) long and 20 km (12 miles) wide. Quartz-rich volcanic tuffs containing anomalous amounts of lithium occur within and adjacent to the valley. Drill results from the salt flat have included lithium values as high as 2550 ppm Li and a 1560 foot (roughly 475 meter) vertical intercept that averaged 1153 ppm Li. The current 43-101 resource from the PEA report for borehole mineable portion of the resource is 3,407 million tonnes grading 1,013 ppm Li or 18,372 million kilograms of lithium carbonate equivalent. (though this is a resource, not a reserve, and has not yet proven economic viability). 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 74 km2 (28.6 mi2) with potential for brine systems and further sediment resources.

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 Iconic, 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.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to the Option, the Joint Venture, the amount of the Offering, the expected use of proceeds from the Offering and the future business plans and exploration activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "will", "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that investor interest will be sufficient to close the Offering, that market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals required for the Option Agreement and the future development of the Company's projects in a timely manner.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, including on the Smith Creek Property, requirements for additional capital, future prices of lithium and gold, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the business, financial condition and exploration and development activities of the Company, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including of the TSX Venture Exchange in respect of the Option Agreement and the Offering, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim Management's Discussion and Analysis and filed with the Canadian Securities Authorities. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119423

News Provided by Newsfile via QuoteMedia

ICM:CA
Iconic Minerals Announces Exploration Update for Bonnie Claire Lithium Project

Iconic Minerals Announces Exploration Update for Bonnie Claire Lithium Project

Iconic Minerals Ltd. (TSXV: ICM) (OTCQB: BVTEF) (FSE: YQGB) (the "Company" or "Iconic") and its 50% joint venture partner in Bonnie Claire, Nevada Lithium Resources Inc. (CSE: NVLH) (FSE: 87K) ("Nevada Lithium"), are pleased to announce that drilling of the Bonnie Claire Lithium Project (the "Project" or "Property") is underway and proceeding according to plan.

The planned drill program will entail drilling from five (5) separate drill sites (See news release dated May 4, 2022), which are spaced approximately one-half mile apart and being drilled to a depth of 2,000 feet (610 meters). Both core and mud/rotary holes will be drilled. Each drill hole will be logged and drill samples will be securely sent to a qualified geochemical lab for assaying. One mud/rotary drill hole will be preserved as a drill water well, following the pumping tests that will be conducted by our borehole mining consultants, Barr Engineering Company of Minneapolis ("Barr"). Barr will also collect core samples for extensive materials testing.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Drilling Commences at the Bonnie Claire Lithium Project, Nevada

Drilling Commences at the Bonnie Claire Lithium Project, Nevada

Nevada Lithium Resources Inc. (CSE: NVLH) (OTCQB: NVLHF) (FSE: 87K ) (" Nevada Lithium " or the " Company ") and its 50% partner in Bonnie Claire, Iconic Minerals Ltd. (TSXV: ICM ) (OTC: BVTEF) (FSE: YQGB ) (" Iconic ") are pleased to announce that drilling of the Bonnie Claire Lithium Project (the "Project" or "Property") has commenced.

Nevada Lithium Resources Inc. Logo (CNW Group/Nevada Lithium Resources Inc)

Nevada Lithium CEO, Stephen Rentschler , comments: "We are pleased to report that our 50% partner, Iconic, who is operator of our initial joint work program, has advised us that drilling is now underway at Bonnie Claire. This drilling is additive to the metallurgical and geophysical work now advancing the Project. We firmly believe that Bonnie Claire is one of the most attractive global lithium assets remaining in junior developers' hands."

The drill program is anticipated to include five (5) holes spaced approximately one-half mile apart, with a target end-of-hole depth of 2,000 feet (610 meters) for each hole. Both, core, and mud/rotary holes will be completed. Each drill hole will be logged and chip/core samples sent to a qualified geochemical lab for assaying. One mud/rotary drill hole will be preserved as a water well and pumping tests conducted by our borehole mining consultants, Barr Engineering Company of Minneapolis, Minnesota ("Barr"). Barr will also collect core samples for extensive materials testing in preparation for a borehole mining demonstration hole.

QP Disclosure
Darren L. Smith , M.Sc., P. Geo., Vice President of Exploration of the Company, and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.

Subscribe to updates about Nevada Lithium Resources here: https://www.nvlithium.com/

About Nevada Lithium Resources Inc.
Nevada Lithium Resources Inc. is a mineral exploration and development company focused on shareholder value creation through its core asset, the Bonnie Claire Lithium Project, located in Nye County, Nevada , where it currently holds a 50% interest. A recently completed NI 43-101 Preliminary Economic Assessment returned attractive investment metrics and the Company is actively advancing the Project towards Pre-Feasibility. Learn more: https://www.nvlithium.com/

ON BEHALF OF THE BOARD OF DIRECTORS:

Stephen Rentschler
CEO

Find Nevada Lithium on Social Media: on Instagram and Twitter

The CSE does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of any of the word "will" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements include, but are not limited to, the proposed exploration program, development of the Bonnie Claire Project, and advancement of the Bonnie Claire Project to pre-feasibility. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/drilling-commences-at-the-bonnie-claire-lithium-project-nevada-301566227.html

SOURCE Nevada Lithium Resources Inc

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2022/13/c8548.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Iconic Announces 2022 Work Program at Bonnie Claire Lithium Project

Iconic Announces 2022 Work Program at Bonnie Claire Lithium Project

Iconic Minerals Ltd. (TSXV: ICM) (OTC PINK: BVTEF) (FSE: YQGB) (the "Company" or "Iconic") is pleased to provide an update on the 2022 mineral exploration and development plans for the Bonnie Claire Lithium Project (the 'Project' or 'Property'), located in Nye County, Nevada. The work plan is the culmination of discussions between the Company and its 50% partner in Bonnie Claire, Nevada Lithium Resources Inc. (CSE: NVLH; FSE: 87K) ("Nevada Lithium"). The approximately $5M USD work program has been fully funded by Nevada Lithium through its Property earn-in payments to Iconic, as part of the Option Agreement whereby Nevada Lithium obtained its 50% interest.

Iconic Minerals Ltd. CEO, Richard Kern, comments: "With funding in place and our Plan of Operation (PoO) filed with the BLM, the Company will complete a major expansion of its exploration and development program in 2022. The transition from resource to reserve and moving toward completion of a Pre-Feasibility Study (PFS) is a major step forward in defining this major Lithium deposit."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Iconic Receives Final Option Payment of $2MM USD for Its Bonnie Claire Lithium Project

Iconic Receives Final Option Payment of $2MM USD for Its Bonnie Claire Lithium Project

Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) (the "Company" or "Iconic") is pleased to announce that the Company has received the third and final option payment of $2MM USD from Nevada Lithium Resources Inc. ("Nevada Lithium"). With this payment, Nevada Lithium has fully earned its option for an aggregate 50% ownership in the Bonnie Claire Project.

"We are pleased to announce the receipt of the third option payment from Nevada Lithium and look forward to working in our Joint Venture Agreement on the Bonnie Claire Lithium Project to confirm what we believe to be one of the largest world class lithium deposits," said Iconic CEO, Richard Kern.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Iconic Receives 2nd Option Payment for Bonnie Claire and Extends Deadline for Final Payment

Iconic Receives 2nd Option Payment for Bonnie Claire and Extends Deadline for Final Payment

Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) (the "Company" or "Iconic") is pleased to announce that the Company has received the second option payment of $2MM USD from Nevada Lithium Resources Inc. ("Nevada Lithium") which increases Nevada Lithium's aggregate ownership in the Bonnie Claire Project to 35%. Concurrent with the payment, Iconic and Nevada Lithium have also agreed to an amendment of the Option Agreement, which extends the deadline for the third and final option payment under the agreement until December 15th, 2021. Upon payment of the third option of $2MM USD, Nevada, will have fully earned its option for an aggregate 50% ownership in the Bonnie Claire Project.

"We are pleased to announce the receipt of the second option payment from Nevada Lithium and look forward to working in partnership to confirm what we believe to be one of the largest world class lithium deposits. The Company anticipates the acceptance of the Plan of Operations in the near future and is eager to commence our 2022 drilling campaign at the Bonnie Claire Property. The data collected from this campaign is integral to the completion of the Pre-Feasibility Study and the next stage of our development towards Pre-Production," said Iconic CEO, Richard Kern.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
LPI Becomes Largest Tenement Holder In Greenbushes Region & Buys Holding In Eastern Goldfields

LPI Becomes Largest Tenement Holder In Greenbushes Region & Buys Holding In Eastern Goldfields

Lithium Power International Limited (ASX:LPI)(“LPI”or“theCompany”) is pleased to announce that it has signed agreements to significantly increase its tenement holdings in Western Australia.

Keep reading...Show less
Balkan Mining and Minerals

Balkan Secures Canadian Lithium Project

Balkan Mining and Minerals Ltd (BMM or the Company) (ASX: BMM) is pleased to announce it has secured an exclusive option to acquire up to 100% of the Gorge Lithium exploration project located in the Georgia Lake Area, Thunder Bay North Mining District of Ontario, Canada (the “Gorge Lithium Project” or “Project”).

Keep reading...Show less
Oceana Lithium Limited

Oceana Lithium (ASX: OCN) Lists on ASX

Oceana Lithium Limited (ASX:OCN) (Oceana or the Company) is pleased to advise that it is set to commence trading on the Australia Securities Exchange (ASX) at 12.00 pm AEST today under the code “OCN”.

Highlights

Keep reading...Show less
electric vehicle charging

VIDEO — Sigma Lithium: EV Trend "Inevitable," Speed Has Brought Lithium Demand Forward

Sigma Lithium: EV Trend "Inevitable," Speed Has Brought Lithium Demand Forwardyoutu.be

Rising lithium prices have attracted investor attention, and while the market has cooled somewhat in recent months, experts agree that the crucial battery metal's story still has a long way to go.

Speaking at the Prospectors & Developers Association of Canada (PDAC) convention, Ana Cabral-Gardner, co-chairperson and co-CEO at Sigma Lithium (TSXV:SGML,NASDAQ:SGML), explained that higher electric vehicle (EV) demand from the western world surprised the market in 2020 and led to a major run in prices.

"That took the whole industry by surprise, and then as per the current price levels it was clear that the industry wasn't expecting it and it wasn't ready for it," she explained to the Investing News Network.

Keep reading...Show less
Balkan Mining and Minerals

Balkan Mining and Minerals Limited (ASX: BMM) – Trading Halt

Description

The securities of Balkan Mining and Minerals Limited (‘BMM’) will be placed in trading halt at the request of BMM, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Monday, 4 July 2022 or when the announcement is released to the market.

Keep reading...Show less

Latest Press Releases

Related News

×