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Iconic Minerals Ltd. (ICM.V)
TSXV - TSXV Real Time Price. Currency in CAD
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Surprised this didn’t move more with the last announcement. This should start building some momentum once SX finalizes the extraction process method and the project moves to the next phase.
Are we ready to pop? Hope the news comes any moment...
Man I loaded the boat. I hope it doesn't bail on me
Iconic Announces Accelerated Development Towards Lithium Production Through Receipt of Initial JV Funding
Vancouver, British Columbia--(Newsfile Corp. - February 12, 2021) - Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) (the "Company" or "Iconic") announces that the Company has received additional Phase I funds totaling CAD $1,200,000 (USD $940,000) (the "Funding") to date from its joint venture partner Nevada Lithium Corp., ("Nevada Lithium") towards receiving its right to earn 20% interest in the joint venture interests on the Bonnie Claire Property (the "Property").
Richard Kern, Iconic's President and CEO, stated, "This funding provided by Nevada Lithium will help Iconic move Bonnie Claire forward at an accelerated pace toward production."
Iconic, through its wholly owned subsidiary, Bonaventure Nevada Inc. ("Bonaventure") granted Nevada Lithium the option (the "Option") to earn up to a 50% interest in the Bonnie Claire lithium property located in Nye County, Nevada (the "Property"). Pursuant to the Option Agreement, Nevada Lithium may exercise the Option in three stages by funding USD $5,600,000 in cumulative exploration expenditures on the Bonnie Claire Property on, or before October 1, 2021 (See the news release dated December 15, 2020).
With this additional funding, Iconic has initiated the Joint Venture Phase I Exploration program for the completion of its Preliminary Economic Assessment (PEA) on the Property, of which Global Resource Engineering Ltd. (GRE) of Denver, Colorado has been retained to complete the PEA.
This initial Funding will allow the Company to conduct the following work on the Property:
Additional resource definition drilling;
Additional detailed metallurgy;
Completion of PEA;
Initiation of Plan of Operation;
Update NI 43-101 Technical Report and;
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 report on the project notes that, with a cutoff grade of 600 ppm Li and average grade of 1,027 ppm Li, one square mile contains an inferred resource of 5.025 billion kilograms Li (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.
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.
Awesome news today!! Hold on tight we're going up fast
Iconic Announces TSX Acceptance of JV Lithium Option Agreement and Initial Funds Advancement
How soon before results are posted. Seems like we have been waiting for an eternity.
The potential here is massive absolutely massive.
Nice pops this month. What's happening?
They will have a huge contract with an EV-company
Lithium project in Nevada right beside Tesla and you people are selling this here 😂 thanks for the cheapies
Im new to the lithium sector/craze but this seems to have potential. Any thoughts? maybe a good time to jump in.
Looks like there are some price catalysts coming up, such a small market cap compared to virtually any other lithium play I can find, huge potential resource too
Just look at their inferred resources (yes, I know, inferred is the keyword here) compared to other companies. Lots of potential here. $SX has risen like crazy today already. 2021 might just be the year of lithium.
.25 plus open next Wednesday. Bank in it!
Do they have water rights to the land yet?
What will Monday bring?
continue accumulating while you still can
just bought a few more, looking forward to the news
Has anyone heard if the spin out of Midas South and New Pass gold properties mentioned in August is still in the works?
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