- Iconic (ICM) has released a resource report for the Bonnie Claire Project that may make it the largest lithium resource in North America
- The NI 43-101 resource report indicates an inferred resource estimate of 18.68 million tonnes of lithium carbonate equivalent
- Drill results from Bonnie Claire have included lithium values as high as 2,550 ppm
- Iconic Minerals is focused on lithium and gold exploration projects in Nevada
- Iconic (ICM) is up by 13.95 per cent trading at $0.245 per share
Iconic (ICM) has released a resource report for the Bonnie Claire Project that may make it the largest lithium resource in North America.
The NI 43-101 resource report, overseen by Global Resource Engineering, indicates an inferred resource estimate of 18.68 million tonnes of lithium carbonate equivalent.
For the shallow, pit-constrained resource, Global Resource generated pit shells using Lerchs-Grossman pit optimizer software to define two open pits on the property. Global Resource considers that the two blocks located within the conceptual pit envelope show reasonable prospects for economic extraction and can be reported as a mineral resource.
For the mineral resource that may be potentially borehole mineable, Global Resource assumes a 60 per cent mining recovery, but does not include mining dilution, plant recovery, refining penalties or pit constraints.
Bonnie Claire mineral resource estimate
| Class | Extraction method applied for constraint | Mass (million tonnes) | Li grade (ppm) | Li (million kg) | Li carbonate equivalent (million kg) |
| Inferred | Open-Pit (North) | 288.7 | 947.9 | 273.7 | 1,456.9 |
| Inferred | Open-Pit (South) | 200.9 | 784 | 157.5 | 838.4 |
| Inferred | Borehole | 3,289 | 936.0 | 3,078 | 16,385 |
| Total | 18,680.3 |
Iconic and its JV partner, Nevada Lithium Resources, have nearly completed a soon-to-be-released preliminary economic assessment.
Drill results from Bonnie Claire include lithium values as high as 2,550 ppm Li. The current 43-101 report on the project notes that, with a cutoff grade of 600 ppm Li and an average grade of 1,027 ppm Li, one square mile contains an inferred resource of 5.025 billion kg of Li.
Richard Kern, Iconic’s President and CEO, stated,
“I am pleased that the updated 43-101 report shows such a significant mineral resource at Bonnie Claire from such a small number of drill holes. This project is beginning to get the attention it deserves, and I look forward to our upcoming PEA.”
Iconic Minerals is focused on lithium and gold exploration projects in Nevada.
Iconic (ICM) is up by 13.95 per cent trading at $0.245 per share as of 9:31 am ET.
