Iconic Minerals - ICM.V

Last 25 Trades
http://web.tmxmoney.com/quote.php?qm_symbol=ICM

Regards Xa¡on

 

The company has a unique approach to finding lithium in Nevada . The Bonny Claire Valley in Nevada has all of the characteristics of the Clayton Valley, and has been sampled positively for lithium. http://canada.stoxline.com/q_ca.php?s=icm.v

 

Good evening Ladies and Gentlemen,

two events forthcoming right on ICM's doorstep.

Vancouver Resource Investment Conference 2017
January 22-23, 2017
Vancouver, British Columbia

The Vancouver Resource Investment Conference is the world’s largest resource investment conference dedicated to resource exploration. Investment thought leaders and wealth influencers provide our audiences with valuable insights. C-suite company executives covering every corner of the mineral exploration sector as well as metals, oil & gas, renewable energy, media and financial services companies are available to speak one on one. This is a must-attend for investors and stakeholders in the global mining industry. http://www.cambridgehouse.com/event/54/vancouver-resource-investment-conference-2017

Mineral Exploration Roundup 2017
January 23-26, 2017
Vancouver, British Columbia

This year’s conference will bring together geoscientists, prospectors, investors, suppliers and First Nation partners to share ideas that will help shape the future of mineral exploration and development.
http://roundup.amebc.ca/

Regards Xa¡on

 

January 23, 2017

Lithium Panel
Workshop 4, 1:30-2:00 pm
Lithium X
Iconic Minerals Ltd.
Neo Lithium Corp.
Millennial Lithium Corp.

In addition, ICM has an own booth (809) at the Vancouver Resource Investment Conference.

Regards
Xa¡on

 

Hello Kayakfan,

ICM is present at the Vancouver Resource Investment Conference 2017 but not sure about the Mineral Exploration Roundup 2017 since it's focus is more on the technical side of exploration.
PDAC 2017 is also a great opportunity to get in touch with investors and present oneself.

Corporate update / news / assays due any day now + as far as I know there is a conferance call planned within short.

Regards Xa¡on

 

http://www.iconicmineralsltd.com/in...-provides-update-on-its-bonnie-claire-project

ICONIC BEGINS EXPLORATION AT SMITH CREEK VALLEY LITHIUM PROJECT, NEVADA AND PROVIDES UPDATE ON ITS BONNIE CLAIRE PROJECT

Iconic Minerals Ltd. (the “Company” or “Iconic”) (TSX V: ICM) (OTC: BVTEF) (FSE: YQGB) is pleased to announce that it has initiated work at its recently acquired Smith Creek Valley lithium project (“Smith Creek”), located 140 miles (225 km) east of Reno, near Austin, Nevada. Claim staking, geologic mapping, surface geochemical sampling and gravity interpretation have been completed on Smith Creek. A map of the Smith Creek property is available on the Company’s website.

Iconic controls 808 placer claims totaling 25.25 square miles (65.4 km2) over a major gravity low. The enclosed Smith Creek Valley Basin covers 582 square miles (1,507 km2), which is slightly larger than Clayton Valley Basin where lithium brines are produced. Smith Creek Valley is over +40 miles (+64 km) long in a north-northeast direction and averages 9 miles (14.5 km) in width. The vast majority of rock weathering into the basin is felsic ash flow tuff, which is an excellent source of lithium. The Smith Creek basin itself is composed of alluvium surrounding a mud flat, a remnant of a paleo-lake. Brine evaporate is found around the edges of the mud flat, but not in sufficient quantity to be mapped as a unit. The basin is bounded by a series of step faults that down-dropped the central basin several thousand feet. Some of these step faults serve as fluid conduits for present day hot springs that border the mud flats. Activity in this geothermal location is believed to be a major contributing factor to the presence of economic lithium brines. Previous shallow drilling by the USGS in the valley for a ground water study discovered the presence of brine, though it was not assayed for lithium.

A gravity study of the Smith Creek Valley area completed by Frank Fritz of Fritz Geophysics of Fort Collins, Colorado, discovered a large gravity low under the southern portion of the valley. The mud flat sediments have a calculated thickness of over 4,000 feet (1,220 m). Sampling of brine evaporates deposited in the mud flat downslope of hot springs, located just northwest of the flat, returned lithium values of up to 470 ppm. It is possible that the lithium is being brought to the surface from brine at depth by geothermally heated groundwater.
A MagnetoTelluric (MT) geophysical survey has been conducted at Smith Creek Valley and is currently being interpreted. The purpose of this survey was to verify the extent and depth of the potential brine deposit.

Bonnie Claire Project Update

McClelland Laboratories, Inc. of Sparks, Nevada has commenced agitated leach testing of the drill cuttings from BC1601. These tests will determine the leachability of lithium from the sediments using several different leaching agents including water, dilute hydrochloric and dilute sulfuric acid. Results of this first phase of metallurgical testing are expected within a few weeks. After determination of the optimal leaching agent, concentration and leaching time, advanced metallurgy including column leach testing is planned.

Additional geophysical surveying has been scheduled north of drill hole BC1601, in order to determine the location of the major east-west fault that is interpreted to truncate the brine horizon. This fault could be a major feeder structure for lithium brine and therefore, is a high priority drill target. Subject to the ground conditions, the survey will be conducted in February.

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.

Regards Xa¡on

 

Should Iconic Minerals take Hercules Private?

https://www.evernote.com/shard/s316...80be461f4640/0cba9868f6b8b70abc62df9063758ceb



Iconic Minerals Ltd (CVE:ICM) reported in their MD&A dated Dec 2016 that they have decided to concentrate their resources and efforts towards its Bonnie Claire and Hercules Project Properties, and accordingly impaired the New Pass Property to a nominal value, but continue to hold the rights to explore.
Iconic Minerals is a Lithium and Gold exploration companies with exploration assets mainly in Nevada. Their Hercules Project is located in the Como Mining District, approximately 15 kilometres away from the Comstock Mine, part of the Comstock mining district which is famous for being the first and most significant discovery of silver ore in United States.
Currently Hercules requires another 200+ drill holes to bring the resource up to NI43-101 compliance.
In light of the capital requirement to come to complete the work, should Iconic Minerals consider taking Hercules private then?

Historical Exploration Results were verified and they confirm the existence of alteration and mineralization
Geological information with respect to Hercules Project are compiled from at least six separate exploration groups over a period of some 30 years. Majority of the data was generated by respected major and minor mining companies and it is likely their respective procedure and methodologies will have met industry standards at the time of their work. In addition, information from historical work has been consistently confirmed by various successor companies over the years.
“Based on 30 years of experience with RC and core drilling programs in Nevada, Mr. Douglas H. McGibbon from McGibbon Consulting LLC, generally confirms that historically reported grades and thickness of mineralization can reasonably be expected to be present in all the four previously defined target areas.”
"Moreover, the data also provides confidence with respect to other historical data in that check assaying in most cases shows remarkable consistency and repeatability for both gold and silver assays”
These results have lead Mr McGibbon to believe that historic assays from the Hercules Project are reliable and that assay results are likely to be verified by subsequent drilling or reassaying programs.
WCE conducted a non Ni43-101 resource estimate in 2011 prior to t/o by Iconic
In 2011, Mr Paul Moland conducted an independent technical report for Iconic’s JV partner Willow Creek Enterprises Inc (WCE) to ascertain the potential of Hercules and provide guidance on further drilling.

The WCE Report described the Hercules property as containing a "drill indicated resource" of 24 million tons at an average grade of 0.024 opt Au-equivalent based on 0.010 opt Au-equivalent cut-off grade equating to approximately 580,000 contained
ounces (470,000 ounces Au and 6,500,000 ounces Ag).The WCE Report also described an “inferred mineral resource" of approximately 24 million tons at an average grade of 0.021 opt Au-equivalent for approximately 527,000 contained ounces (427,000 ounces Au and 6,000,000 ounces Ag). Based on a 1/60 Au value, total equivalent ounces for inferred and indicated came out to be 1,200,000 ounces.
However the WCE estimate is an historical estimate and does not represent curretn mineral resources or reserves under NI 43-101
Iconic has focused on confirmatory exploration since acquisition.
Iconic has been active on Hercules since they took over in 2011. Currently they hold 100% of the property through a lease agreement from the underlying claim owner, MinQuest. Iconic are now responsible for the commitments of the underlying agreement, which are,

Iconic has since completed a summer drilling program consisting of 12 RC and 8 core holes (total 2021m) in 2012, a surface alteration mapping program in 2014, outcrop sampling and assaying in 2015.
Iconic obtained a Plan of Operation (POO) permit by Bureau of Land Management (BLM) in Jan 2015, which allowed them to drill an additional 200+ holes for the purpose of delineating an NI 43-101 resource. Completion of this work is subject to additional funding.

Bigger fish to fry for Iconic?
Iconic entered into a Brine Lithium property option agreement in Dec 2015, to acquire 100% of Lithium claims located in Nye County Nevada. Iconic has since progressively extended the number of claims from 784 (15,680 acres) to 921 claims (18,429 acres) by July 2016.
By Nov 2016, Iconic has entered into two more Lithium Property Option Agreements to acquire 100% interest in 1,185 place mining claims comprising 23,700 acres in Nevada. The Company may earn its 100% interest in these claims through a series of spending on exploration and filing expenses which could reach US$4.5mil over 4 years.
Hercules being a Gold project with a rich history of exploration activity and within a world-class mining district, wouldn’t it make better sense to go a step further and take it off market to develop it privately?

Regards Xa¡on

 

Conference Call will take place today but unfortunately on invitation only. Nevertheless I guess ICM will provide a transcript or playback afterwards.

Thursday, January 19th, 2017 at 10:00AM (PST)

Regards Xa¡on

 

Iconic Minerals – Lithium Recovery Of Up To 98% & Gold Projects JV’ed With McEwen Mining
Palisade Research January 20, 2017
Category: Research

Iconic Minerals (TSXV:ICM, OTCMKTS:BVTEF, FRA:YQGB) has found a new way to recover lithium. Lithium hosted in sediments to be exact.

The company received very encouraging results from its initial tests taken from samples from its Bonnie Claire project in Nevada, headlined by recovery rates of up to 98%.

Normally, the lithium in Clayton Valley is hosted in clay, which means the lithium is stranded; there is simply no economic way of extracting it. Lithium in sediments was almost no better… until now.

In three samples taken from different elevations from Bonnie Claire, the fine-grained sediments showed leach recoveries of 98%, 93% and 89% lithium, leaching with dilute acid. More importantly, the lithium in the brine leachate appears to be lithium chloride, which is how lithium occurs in Clayton Valley brines. This means after leaching, Iconic’s lithium can be processed conventionally.

This discovery has the potential to completely change how the market currently views Iconic. The company has 23,100 acres of contiguous placer claims and if further tests verify this recovery method, Iconic will have an enormous resource. Iconic can thank its President and CEO, Richard Kern, for this revelation. If not for his comprehensive background in heap leaching, this approach would never have been considered.

Next steps? Iconic is currently working with McClelland Laboratories and has already started agitated leach testing some drill cuttings. This means using different leaching agents, including water, dilute hydrochloric and dilute sulphuric acid to determine the leachability of lithium from the sediments. Results from this are expected in the next couple of weeks.

After determining the optimal agent, a column leach test is next on the docket. This test will take longer, most likely 60 to 90 days, but is needed to determine permeability. The good news is, Iconic plans on drilling concurrently. We expect the company to drill two more holes to get to resource, and this number will be substantial.

As we mentioned in our first write-up, the company’s valuation is back-stopped by great gold assets in Nevada, including the 100%-owned Hercules gold-silver property with a historic resource of about 900,000 ounces of gold and 12.5 million ounces of silver; and the 50%-owned New Pass gold-silver property, which holds 260,000 ounces of gold and 2.5 million ounces of silver, all 43-101 compliant. Iconic’s last gold asset, the 50%-owned Squaw Creek, located near Battle Mountain and contains strongly anomalous gold mineralization.

It is definitely worth noting that Iconic’s JV partner in New Pass and Squaw Creek is McEwen Mining, a C$1.5 billion, 150,000-ounce producer. While Iconic has incredible lithium assets, we still believe the market is attributing zero value to the gold assets.

Iconic Minerals only has a market cap of C$7.6 million, and this company is on the verge of something big. We strongly suggest taking a deeper look and calling management to learn more about their assets and team.

Palisade Global Investments Limited holds shares of Iconic Minerals. We receive either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate. The information contained in such write-ups is not intended as individual investment advice and is not designed to meet your personal financial situation. Information contained in this report is obtained from sources we believe to be reliable, but its accuracy cannot be guaranteed. The opinions expressed in this report are those of Palisade Global Investments and are subject to change without notice. The information in this report may become outdated and there is no obligation to update any such information. Do your own due diligence.

http://palisade-research.com/iconic...-to-98-gold-projects-jved-with-mcewen-mining/

Regards Xa¡on

 

Is Lithium the new Gold?



“You are look at an industry that is growing 5 or 6 times in a short period of time” says Lithium X CEO Brian Paes-Brage to Kitco News in June 2016. “Electric vehicles are really the big driver, I expect electric vehicles to increase demand for lithium over the next decade”.

So how can investors get exposure to the sector?
The author thinks that it is important to look at junior companies in the industry. Unlike gold, where investors has many options, there isn’t that many for investors of Lithium. So investors can focus on junior companies operating in the sector, and one such company is Iconic Minerals Ltd

About Iconic Minerals Ltd (CVE:ICM)

Iconic Minerals Ltd. is an exploration company focused on acquiring, exploring and developing projects of merit in North America. The Company’s main focus is to discover and develop lithium deposits through the exploration of high quality projects; located primarily in Nevada in areas of historically large discovery potential, which would allow for development and mine production at low cost rates.


Iconic’s crown jewel is the ownership of a 100% controlling interest in a large lithium brine claim position of 23,100+ acres (9,348 ha) in Nevada. The Bonnie Claire property is located just 60 km (37 mi) south of North America’s only producing lithium operation, Albemarle’s (NYSE – ALB) Silver Peak property, which has been producing for the past 50 years.

Related story: Albemarle (NYSE:ALB) could be targeting these Nevada Lithium Juniors

Exploration Program

In 3Q 2016, Iconic commenced a three drill hole program to test a portion of the currently defined 27.5 square km (10.6 square miles) interpreted brine zone. Total footage drilled in the Drill Program is expected to be 1,525-1,830 m (5,000 to 6,000 ft), and will be followed by additional programs heading into the fall. Although drilling of the Wells spaced approximately 1.3 miles (2.1 km) apart will take at least two and half months, initial lithium brine geochemical results are expected very soon. If successful, as we expect they will be, the drill holes will be reamed to a larger diameter and pumping tests will be performed to determine potential production grade and flow rates. Successful testing would then result in turning the test holes into production wells.

Encouraging Lithium Leaching Results from First Drill Hole

Sampling of salt flats within the basin, have found lithium values in salt samples yielding up to 340 ppm, 500ppm by the USGS. The deeper part of a gravity low within the valley is 12 miles (20 km) long and initial estimates are the depth to bedrock ranges from 1,500 to 2,000 feet (460-610 m) within this gravity 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

The source rocks are quartz-rich volcanics that contain anomalous amounts of lithium.

It should be noted that Bonnie Claire’s large gravity low drainage basin, is 1½ times larger than the existing Clayton Valley’s basin, the legacy Albemarle site, enhancing the potential value of the site and the volume of production resource.

Management carefully selected this gravity low property because it is adjacent to the Clayton Valley basin, and has lithium–rich host rocks and highly anomalous lithium in surface salt deposits. Moreover, this unexplored, undepleted, virgin resource has demonstrated surface brine evaporation yielding up to 500 ppm of lithium according to USGS sampling, which is greater than the Clayton Valley results. Early production average grade in Clayton Valley was only in the 400ppm range. Plus, 9 lines of MT Geophysics conducted shows the property is underlain by an extensive brine horizon

A Notice of Intent was filed with the BLM to drill 6 wells (with a potential for 8 locations) and following the drilling of the test wells, samples of the brine will be taken to determine lithium content. In addition, a standardized test program is being initiated to ensure quality and consistency of brine sampling chemical analysis.

Iconic’s Other Properties

Although the lithium property is the Company’s crown jewel, Iconic also owns other properties in Nevada.
Located in the Western Nevada Walker Lane Mineral Belt, 17 kilometers from the famous Comstock Lode Mine. Iconic has 100% ownership of 116 mining claims, 2,320 acres a historical resource being 1 Mi+ oz Au(*Non-43-101 Compliant Resource). With the geology demonstrating a Comstock “Look Alike”, it has the potential to be a heap leach, open pit Bulk Minable Target, which has been partially tested. Additional high grade material of over 10 g/t has further potential to be milled on site, with potential bonanza grade targets untested at depth. The Hercules project is permitted and has been approved by the BLM to drill 200+ holes.

The New Pass project is a gold and silver property which, is comprised of 107 unpatented lode mining claims (2,231 acres). The property is located in eastern Churchill County, Nevada; in the New Pass Mining District, 27 miles west of Austin, Nevada and 105 miles east of Reno. Iconic Minerals has a controlling interest in the property, in a joint venture with McEwen Mining, with Iconic earning a 50% interest.

True Explorers

Iconic’s technical advisory team consists of world renowned experts who possess over 30 years of knowledge and experience which has translated into success in both the lithium and mining space. Richard Kern, President and CEO and his team are utilising the experience gained through their previous exploration and development on the Talison lithium brine project in Chile.

Richard is a Professional Geologist and brings over 25+ years of experience in base and precious metal exploration in the U.S., Central America, South America and Australia. He has been involved in major discoveries in the Western U.S. and Australia, discoveries including recent finds at Fire Creek Mine, Nevada, Moss Mine, Arizona and the Bruner Property, Nevada.

What’s in-store for 2017?

Looking ahead, Iconic will engage in a series of events in the coming months that should enhance the Company’s valuation. These include bulk sampling and brine level measurement per minute from the pump following the conclusion of the production well drilling and pumping. The next stage, whereby a resource estimate can be determined, is typically where a big jump in value occurs, and is slated to occur in 2017.



Iconic is currently conducting a Private Placement at 0.11 per Unit, including a half-warrant excisable at 0.22 for one year from issuance. Offer to close on 20 Jan 2017.


For more info, contact



Corporate Communications

Peyvand Bayzae

WhatsApp/Mob: +1 604 653 1871

Email: [email protected]



CAUTIONARY STATEMENT

Statements in this article may contain forward-looking information including, statements regarding the favourable results from its exploration program or the potential for any commercial relationships. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Companies mentioned. Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to provide positive results from its exploration program, failure to obtain an economically viable deposit, inability to complete further development of the project, the failure to raise required capital, and general economic, market or business conditions. Thereader is cautioned not to place undue reliance on any forward-looking information.

The forward-looking statements contained in this article are made as of the date of this press release and Companies mentioned does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.

https://www.evernote.com/shard/s316/sh/563daa83-b1f1-4371-a13d-2e9f9b2c9a2e/282f8d9345013e3c

Regards Xa¡on

 

Jan 26 2017 - Interim financial statements/report - English
Jan 26 2017 - MD&A - English
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00003100

Regards Xa¡on

 

equity.guru / Chris Parry - The lithium-ion battery primer: How to invest in what’s next - 03.02.2017

https://equity.guru/2017/02/03/lithium-ion-battery-primer-invest-whats-next/

"...Back to the Clayton Valley, I talked last week to Kit Nathe, who is in corporate development at Iconic Minerals (ICM.V). This is very easy to do, because Kit is whip smart, very experienced in her field, and is not a middle-aged white man in a Men’s Warehouse 2-for-1 suit.

She pointed out that Iconic fell almost bass ackwards into lithium, being as it was entrenched in Nevada’s gold scene, with three projects being explored, when it became clear that there was lithium in them thar’ hills and that maybe they should go get some.

The gold is great in and of itself, with historic resources and a potential million oz in their flagship property, but the lithium is what’s making their tires squeal. The plan is to spin out the gold properties to unlock the value in the lithium play, so if you buy into them today, you’re going to get shares in multiple companies going forward.

The lithium side is interesting, in that the whole water rights thing in the Clayton doesn’t effect them, on any of their three lithium properties. That is, while everyone in the Clayton is fighting over who can take water out of the aquifer, the Iconic property is actually located in the next county, and private water rights are uber available.

The kicker here beyond that little twist is that Iconic thinks they’ve found a way to draw more lithium out of their property through some experimentation they’ve done with heap leaching, that’s bringing them hand-wringingly good results. They expect an NI 43-101 resource to be completed within six months.

None of this is reflected in Iconic’s share price, which rose over $0.40 during the peak lithium craze last year, but sits at $0.10 today, which means for $6 million in market cap, you get three gold properties and three lithium plops in the deal, which is CRAZY undervalued."

— Chris Parry

FULL DISCLOSURE: Almost all of the companies mentioned above are Equity.Guru marketing clients and we own stock in many of them. Graphite One, Lithium-X, and Iconic Minerals are not Equity.Guru clients, nor do we own stock in those companies.

Regards
Xa¡on

 

http://www.iconicmineralsltd.com/ne...-drill-hole-at-bonnie-claire-lithium-property

Regards Xa¡on

 

ICONIC RECEIVES INITIAL LEACH RESULTS FROM SECOND DRILL HOLE AT BONNIE CLAIRE LITHIUM PROPERTY

Iconic Minerals Ltd. (the “Company” or “Iconic”) (TSX V: ICM) (OTC: BVTEF) (FSE: YQGB) is pleased to announce that it has received initial lithium leaching results from sediments drilled in BC1602 at its Bonnie Claire project. Four samples (the “Samples”) from different elevations of the 1,170 feet (357 m) thick, continuously mineralized section of fined grained sediments show leach recoveries of 83% to 87% Li, leaching with dilute acid and 45% to greater than 56% leaching with distilled water. Sample depths, lithium content of the original sample, lithium content of the acid and water leachate, and total recovery are shown in the table below.




Samples were leached with dilute hydrochloric/nitric acid and another set with deionized water, the leachate was analyzed by Inductively Coupled Plasma (ICP) by ALS Minerals of Reno, Nevada. The sediment assays average 850 ppm lithium, with the highest lithium value of 1,790 ppm occurring at the bottom of the hole. It is believed that the lithium-rich sediments continue below the currently drilled depth. While the acid leach results are interesting, the fact that distilled water recovered an average of over 51% of the lithium has even greater implications. If plain water can be utilized as a leaching agent, this should reduce the cost of any potential future production. These results may indicate significant implications as to how lithium brine ends up in major faults and intersecting permeable beds at Clayton Valley. Fresh water moving along these structures may be leaching lithium from the surrounding sediments and forming the lithium brine produced in the valley.

The lithium brine created by leaching, has between 0.53% and 0.91% magnesium (Mg) in the acid leachate, and between 0.38% and 0.60% in the water leach tests. Values for potassium (K) ranged from 0.76% to 1.16% in the acid leachate and 0.47% to 0.87% in the water leach tests. Sodium (Na) ranged from 1.48% to 3.41% in the acid leachate and 1.15% to 2.71% in the water leach tests. These values are similar to naturally occurring lithium brines, and should make the leachate suitable for lithium extraction using current production methodology.

It should be emphasized that these are initial tests using high leachate to sample ratios, and the procedure involves some heating of the solutions. Detailed metallurgy using much larger samples will be conducted to determine the detailed leaching characteristics of the sediments at Bonnie Claire. These larger scale tests have been initiated using McClelland Laboratories, Inc., of Sparks, Nevada.


The Bonnie Claire Lithium Property Characteristics:

The Property is located within Sarcobatus Valley that is approximately 30 km (19 miles) long and 20 km (12 miles) wide, the associated drainage basin covers an area of 2,070 square km (800 sq mi). Quartz-rich volcanic rocks, that contain anomalous amounts of lithium, occur within and adjacent to the drainage basin. Geochemical analysis of the local salt flats has yielded lithium values up to 340 ppm. The gravity low within the valley is 20 km (12 miles) long, the current estimates of the depth to bedrock range from 600 to 900 meters (2,000 to 3,000 feet). The current claim block covers the gravity low and the associated mud flats.

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: Richard Kern (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.

 

ICONIC ANNOUNCES FINAL TRANCHE CLOSING OF FINANCING FOR ADDITIONAL GROSS PROCEEDS OF $370,000

Iconic Minerals Ltd. (TSX V: ICM) (OTC: BVTEF) (FSE: YQGB) announces that on February 21, 2017 it received acceptance from the TSX Venture Exchange to close the final tranche of its private placement (refer to ICM News Release dated December 22, 2016).

In accordance with the provisions of Subscription Agreements, on February 22, 2017 the Company issued a total of 3,363,636 Units at a price of $0.11 per Unit, each Unit being comprised of one common share and one-half share purchase warrant, each whole warrant being exercisable into one common share on or before February 21, 2018 at $0.20 per share. No finder’s fees were paid in connection with this final tranche.

These shares, together with any shares that may be issued on exercise of the warrants and Broker’s Warrant will be subject to a hold period under applicable Canadian securities laws expiring on June 23, 2017, and will be subject to such further restrictions on resale as may apply under applicable foreign securities laws.

One Insider (the “Related Party”) subscribed for a total of 3,036,363 Units from the Financing, which increased that Related Party’s pro rata shareholdings in the Company (the “Related Party Transaction”). All of the independent directors of the Company, acting in good faith, have determined that the fair market value of the securities being issued and the consideration paid is reasonable and, with the value of the Related Party Transaction being less than 25% of the Company’s market capitalization, is exempt from the formal valuation and minority shareholder approval requirements of the Ontario Securities Commission’s Rule 61-501.

On behalf of the Board of Directors

SIGNED: “Richard Barnett”

Richard Barnett, CFO
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

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.

This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

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.

 

Iconic Minerals 4,545,454-share private placement

2017-02-22 19:31 ET - Private Placement


The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Dec. 21, 2016.



Number of shares: 4,545,454 shares

Purchase price: 11 cents per share

Warrants: 4,545,454 share purchase warrants to purchase 2,272,727 shares

Warrant initial exercise price: 20 cents

Warrant term to expiry: one year

Number of placees: five placees

Insider: Simco Services Inc. (Joe DeVries), 3,036,363

Finder's fee: Raymond James Ltd., $6,600 cash and 60,000 warrants

Finder's warrant initial exercise price: 20 cents

Finder's warrant term to expiry: issued Dec. 22, 2016, exercisable until Dec. 21, 2017



Note that in certain circumstances the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.

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