Iconic Minerals secures approval for drill hole in Nevada, US

9 April 2018 (Last Updated April 9th, 2018 12:06)

The Division of Minerals in Nevada, US, has granted approval to exploration company Iconic Minerals to drill a deep hole at the Bonnie Claire Project in the state's southern region.

The Division of Minerals in Nevada, US, has granted approval to exploration company Iconic Minerals to drill a deep hole at the Bonnie Claire Project in the state’s southern region.

Iconic previously obtained permit for the initiative from the Bureau of Land Management (BLM) and has assigned Harris Exploration Drilling as the drilling contractor.

The company is set to begin work on the development upon the closing of its current funding round.

Iconic will now be permitted to drill up to 610m in order to assess the grade and thickness of the lithium-bearing sediments, as well as sample any brines that may be intersected by the hole.

"Iconic will now be permitted to drill up to 610m in order to assess the grade and thickness of the lithium-bearing sediments."

St-Georges Eco-Mining is scheduled to collect samples of sediments in 3m intervals for assaying, along with another set of larger ones for bulk sample metallurgy purposes.

ALS Chemex has been selected to carry out the assaying works as part of the plan.

Favourable brine host rock will be located using downhole geophysics methods, which will be followed by downhole brine sampling for analysis by the Western Environmental Testing Laboratory.

In addition, an NI 43-101-compliant resource report will be generated on the basis of the latest deep drill holes, as well as two earlier drillings.

Together, the three holes form a triangle comprising a 1,212,100m2 area, with the previously drilled holes featuring more than 1,000 parts per million (ppm) lithium sediments with thicknesses ranging between 300m and 460m.

The Bonnie Claire Project is located within the Sarcobatus Valley of Nevada and the associated drainage basin occupies 57km2.

The basin and its surrounding area are said to possess quartz-rich volcanic rocks containing anomalous amounts of lithium, which was found to be approximately 340ppm following geochemical analyses.