Iconic Announces Additional Expansion of Lithium Claims and Initiation of Geophysical Survey
VANCOUVER, BC / ACCESSWIRE / April 21, 2016 / Iconic Minerals Ltd. (TSXV: ICM) (FSE: YQG) announces that it has expanded its Bonnie Claire lithium project located in Nye County, Nevada (the "Property") from 731 mining claims comprising 14,620 acres to 784 claims comprising 15,680 acres (24.5 mi(2)) (refer to News Release dated April 6, 2016). The additional claims primarily cover mud flats suitable for building evaporation ponds.
A geophysical crew has arrived and initiated geophysical surveying over the Bonnie Claire project area. The surveys will identify the depth and extent of highly conductive brine layers, major faults, and the depth to basement rocks, the basin shape, as well as the attitude of the various stratigraphic units.
The following is a brief summary on the Property:
The Property is a lithium brine target. It is located within a valley that is over +20 miles (+30 km) long and 12 miles (20 km) wide into which streams from an +800 mi(2) (2,070 km(2)) drainage basin empty. The source rocks are quartz-rich volcanics that contain anomalous amounts of lithium. Sampling of salt flats within the basin indicates lithium values in salt samples ranging from 50 to 340 ppm. The deeper part of a gravity low within the valley is 12 miles (20 km) long, and initial estimates of the depth to bedrock ranges from 1,500 to 2,000 feet (460-610 m) within this low. The current claim block covers the gravity low and associated mud flats that could be used for evaporation ponds if significant lithium brines are discovered in drilling.
Richard Kern, Certified Professional Geologist (#11494) and CEO of Iconic is the Qualified Person who has prepared and reviewed this press release in accordance with NI 43-101 reporting standards.
On behalf of the Board of Directors
SIGNED: "Richard Kern"
Richard Kern, President and CEO
Contact: (604) 336-8614
For further information on ICM, please visit our website at www.iconicmineralsltd.com
The Company's public documents may be accessed at www.sedar.com
Forward Statement: This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Iconic expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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.
SOURCE: Iconic Minerals Ltd.