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Iconic Minerals - ICM.V

Discussion in 'Canadian Stocks Message Boards' started by Kayakfan, Dec 14, 2016.

  1. Xa¡on

    Xa¡on Active Member

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    Metallurgical Research & Development

    Lithium Extraction

    Bonnie Claire


    Iconic’s material from Bonnie Claire has been further concentrated. Air Classification trials are on-going to tweak the process. Results will be integrated in the final report this month on the concentration portion of the process. Concentration was improved by a factor or 2 and batch column floatation with a silicate salt saturated medium has beenimproved, also increasing the selectivity. The company is still conducting tests with the concentrate past the leach step and will also integrate some of these results in the final report for phase 1.

    Other tests with spodumene concentrate have been commissioned.
    The material from Bonnie Claire is a close parent from spodumene concentrate when in leach solution.

    https://webfiles.thecse.com/MonthlyReportSXApril2019.pdf?PuvBVR02o5dRX5p25TNgHehcF0c4quyd
     
  2. Xa¡on

    Xa¡on Active Member

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  3. Xa¡on

    Xa¡on Active Member

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  4. Xa¡on

    Xa¡on Active Member

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    Metallurgical Research & Development

    Lithium Extraction

    Bonnie Claire
    Phase 2 trials are underway. The company is working with equipment vendors to improve the economics of the final stage of the process, the purification of the lithium and magnesium coming out of the leached solution.

    Other Lithium Initiatives

    Pilot Plant
    St-Georges management has partnered with an academic institution to designa pilot plant that will allow the company to test in an industrial setting its extractions processes for lithium, as well as its copper, nickel and ironextraction process research initiatives. The partners’ plans are based on a governmental contribution in the form of a grant expected to cover the majorityof the costs.

    https://webfiles.thecse.com/MonthlyReportSXJune2019.pdf?pTwnX7W3NwfCrV4egQz333.pwTRC10pO
     
  5. Xa¡on

    Xa¡on Active Member

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    Iconic Initiates 2019 Exploration Plan at Bonnie Claire Lithium Project, Nevada

    Vancouver, British Columbia--(Newsfile Corp. - July 10, 2019) - Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) ("Company" or "Iconic") is pleased to announce that it is preparing to mobilize to the Bonnie Claire project and initiate the 2019 exploration plan ("Exploration Plan").

    Five drill holes averaging 90 meters (300 feet) depth will be drilled in the southern portion of the project area in an area of anomalous surface lithium values and interpreted faults. Down-hole sediment samples will be collected continuously in 6 meter (20 feet) intervals and sent to a geochem lab for analysis.

    In Addition to the commencement of the Exploration Plan, the Company would like to announce that it has received the draft report titled: "Bonnie Claire Metallurgical Evaluation and Process Development", by St. Georges Eco Mining ('SX"), who collaborated with an independent lab, SGS Lakefield Laboratories ("SGS") where an elemental analysis and crystalline analysis of Bonnie Claire's material were performed.

    Iconic's technical team is reviewing the report in conjunction with independent verification in accordance with 43-101 compliant standards.

    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. Quartz-rich volcanic tuffs, that contain anomalous amounts of lithium, occur within and adjacent to the valley. 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, and the current estimates of depth to basement rocks range from 600 to 1,200 meters (2,000 to 4,000 feet). Four drill holes have identified an open ended, 43-101 compliant resource of 28.58 billion kilograms of lithium carbonate equivalent. The drilling that defined the current resource only covered an area of 3.0 km2 (1.2mi2), while previously run MT geophysics show a potentially mineralized area of 27.3 km2 (10.5mi2). Drilling to date has shown strong correlation between the MT results and the lithium mineralization. The thickness of the lithium mineralization is unknown, but drilling indicates it is greater than 600 meters (2,000 feet). The current claim block covers an area of 57.5 km2 (22.2mi2). Further drilling has been permitted and metallurgy to determine the most efficient recovery method is currently in progress.

    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

    Richard Kern, President and CEO
    Contact: Keturah Nathe, VP Corporate Development (604) 336-8614

    For further information on ICM, please visit our website at 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.
     
  6. Xa¡on

    Xa¡on Active Member

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  7. Xa¡on

    Xa¡on Active Member

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    Iconic Announces Additional Metallurgical Results Bonnie Claire Lithium Project, Nevada
    https://ceo.ca/@newsfile/iconic-announces-additional-metallurgical-results-bonnie

    Vancouver, British Columbia--(Newsfile Corp. - July 25, 2019) - Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) ("Iconic") is pleased to announce that St-Georges Eco-Mining Corp. (CSE: SX) has presented a Phase I Independent Review of its Phase I report titled "Bonnie Claire Metallurgical Evaluation and Process Development" to Iconic. SX has developed Nitric Acid leaching methodology that puts between 99.97% and 100% of the lithium from the sediments into solution at room temperature within 1-4 hours. SX has reached the Phase 1 Benchmark which calls for the issuance of 2,000,000 of Iconic's common shares to St-Georges. The shares will remain in escrow for three years. Iconic has also met its other obligations derived from this agreement by participating in St-Georges' private placement in January 2019 for CAD $100,000.

    Additional details of the Nitric Acid leaching is quoted below from an SX press release dated July 24, 2019:

    St-Georges' Process: Selective Leaching with Nitric Acid

    "Leaching with a passivating acid normally used to clean steel and passivate the welds of stainless steel was performed in the hope of selectively removing the magnesium (Mg) and all the salt metals like sodium (Na), calcium (Ca), lithium (Li) and magnesium (Mg).

    The initial results with a 4-hour leach showed that all the salt metals and carbonate formations leached easily. This follows the logic of cleaning acid and leaves most of the other elements behind, such as silica (Si), alumina (Ai), potassium (K).

    Multiple 1-hour leach tests confirmed the leaching of 100% of the lithium leaving behind most of the leachable elements from other acids such as potassium (K). The only loss of lithium that occurred during some of these tests was due to the water in the filter with the solids and represented less than 0.03% of the total lithium value. It also corresponds directly to the water retained with this type of fine material. Additional trials are being performed with reduced time of contact and temperature to optimize the lithium-bearing fines leaching.

    The lithium in the super fines leached completely in each test performed with nitric acid. The trials to selectively optimize leaching the lithium with less calcium and magnesium are expected to be performed in the third quarter of 2019. It is expected that calcium can be reduced partially by filtering the coarser calcium formation as per SGS results and partially with less contact time with the acid. The same for magnesium. New samples will be treated once received."

    Iconic looks forward to the SX Phase II report which will include plans for a pilot plant.

    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. Quartz-rich volcanic tuffs, that contain anomalous amounts of lithium, occur within and adjacent to the valley. 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, and the current estimates of depth to basement rocks range from 600 to 1,200 meters (2,000 to 4,000 feet). Four drill holes have identified an open ended, 43-101 compliant resource of 28.58 billion kilograms of lithium carbonate equivalent. The drilling that defined the current resource only covered an area of 3.0 km2 (1.2mi2), while previously run MT geophysics show a potentially mineralized area of 27.3 km2 (10.5mi2). Drilling to date has shown strong correlation between the MT results and the lithium mineralization. The thickness of the lithium mineralization is unknown, but drilling indicates it is greater than 600 meters (2,000 feet). The current claim block covers an area of 57.5 km2 (22.2mi2). Further drilling has been permitted and metallurgy to determine the most efficient recovery method is currently in progress.

    On behalf of the Board of Directors

    Richard Kern, President and CEO
    Contact: Keturah Nathe, VP Corporate Development (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.
     
  8. Xa¡on

    Xa¡on Active Member

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    https://ceo.ca/@newsfile/iconic-disposes-of-its-interest-in-the-hercules-project

    Iconic Disposes of its Interest in the Hercules Project, Nevada


    Vancouver, British Columbia--(Newsfile Corp. - August 9, 2019) - Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) ("Iconic" or the "Company") announces that it has entered into an agreement dated August 9, 2019 (the "Hercules Option Agreement") with Great Basin Resources Inc. ("Great Basin"), Eclipse Gold Mining Corporation ("Eclipse") and Hercules Gold USA, LLC ("HGU"), a subsidiary of Eclipse, in respect of the Hercules gold property located in Lyon County, Nevada (the "Hercules Project").

    Iconic currently holds an option (the "Existing Option") from Great Basin to acquire a 100% interest in the Hercules Project, and it owns certain exploration data relating to the Hercules Project (the "Existing Data").

    Pursuant to the Hercules Option Agreement, Iconic will terminate the Existing Option and a revised minerals lease agreement assigned to Iconic by way of assignment dated October 4, 2013 (the "Lease") and transfer to HGU the Existing Data (the "Data Transfer").

    In consideration for the Data Transfer and the termination of the Existing Option and the Lease, Eclipse will:

    • make a cash payment to Iconic in the sum of CAD $325,000 within five business days of the execution of the Hercules Option Agreement; and
    • issue to Iconic up to an aggregate of 4 million common shares in the capital of Eclipse ("Eclipse Shares") as follows:
    • 1 million Eclipse Shares on the date which is 10 days immediately following the date on which Eclipse's shares become listed on a public stock exchange or stock quotation system (the "Listing Date"); and
    • 1 million Eclipse Shares on each of the first, second, and third anniversary dates of the Listing Date.
    Under the terms of the Hercules Option Agreement Great Basin has granted an option (the "HGU Option") to HGU under which HGU must complete certain exploration expenditures over a three year period and make cash payments to Great Basin.

    In the event that HGU fails to exercise the HGU Option in accordance with the Hercules Option Agreement, Iconic may elect to receive an assignment of HGU's rights and benefits under the Hercules Option Agreement and to assume certain of HGU's remaining obligations under the Hercules Option Agreement as may be outstanding at such time. The term of the HGU Option is the earlier of the date of exercise of the HGU Option, the termination of the Hercules Option Agreement or 12 years from the Listing Date.

    Related Party Transaction and MI 61-101 Considerations

    Great Basin and Richard Kern may be considered "related parties" of the Company as Richard Kern, a director, the President and the CEO of the Company, owns and/or controls Great Basin and the transactions contemplated under the Hercules Option Agreement (collectively the "Transaction") may be a "related party transaction" under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101").

    The directors of Iconic have determined that the Transaction, if it were determined to be a "related party transaction", would be exempt from the formal valuation requirements under section 5.4 of MI 61-101 as the Company's securities are not listed or quoted on any of the stock exchanges enumerated therein and the minority shareholder approval requirements under section 5.6 of MI 61-101 in reliance on the exemption set forth in section 5.7(a) of MI 61-101.

    On behalf of the Board of Directors

    SIGNED: "Keturah Nathe"

    Keturah Nathe, Director
    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.
     
  9. Xa¡on

    Xa¡on Active Member

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    https://ceo.ca/@newsfile/iconic-provides-update-on-drilling-program-and-phase

    Iconic Provides Update on Drilling Program and Phase 2 Metallurgical Testing For Bonnie Claire Lithium Project, Nevada

    Vancouver, British Columbia--(Newsfile Corp. - February 20, 2020) - Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) ("Company" or "Iconic") is pleased to announce that it is planning a spring drilling campaign as soon as the weather is conducive for entry into the Bonnie Claire Lithium Deposit in Nevada.

    Iconic has received an update from St-Georges Eco-Mining Corp. ("St-George") (CSE: SX) regarding Phase 2 metallurgical testing of the lithium-rich sediment from Iconic's Bonnie Claire lithium deposit in Nevada. Iconic is encouraged by this update and is sending additional drill cuttings to meet St-Georges' requests and allow further progress toward completing the Phase 2 report.

    St-Georges is proceeding with the next stages of tests within Phase 2, where its current focus is the optimization of chemicals consumption and purification steps to meet the requirements for lithium hydroxide. Iconic looks forward to receiving further metallurgical results from St Georges.

    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. Quartz-rich volcanic tuffs, that contain anomalous amounts of lithium, occur within and adjacent to the valley. 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, 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 35 km2 (13.5 mi2) with potential to be underlain by lithium-rich sediments.

    On behalf of the Board of Directors

    SIGNED: "Richard Kern"

    Richard Kern, President and CEO
    Contact: Keturah Nathe, VP Corporate Development (604) 336-8614

    For further information on ICM, please visit our website at www.iconicminerals.com
    The Company's public documents may be accessed at www.sedar.com
     
  10. Xa¡on

    Xa¡on Active Member

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    https://ceo.ca/@thenewswire/winter-corporate-update

    Winter Corporate Update
    (TheNewswire)

    [​IMG]

    Montréal, Montreal – TheNewswire - February 10, 2020 – St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) would like to update its shareholders on its on-going corporate developments.


    Highlights

    - Lithium Processing: technology initiatives, patent formalization, battery recycling process and lithium metal manufacturing;

    - Pilot plant potentially de-risked through discussions with ready-built facilities;

    Mineral Processing Research & Development

    Lithium Processing Technology

    Stage I of the development of the Company’s lithium processing technology, in collaboration with Iconic Minerals (TSX-V: ICM), was completed in the first half of 2019 (See July 24, 2019 Press Release). Following the delivery of the Stage I independent report to ICM, St-Georges has accelerated the work and obtained results on many tasks that are part of Stage II and Stage III of the planned development.

    On-going testing has confirmed, so far, the portability of the process developed for sediments to hard rock sources of lithium.


    The Company is looking at opportunities to apply its technologies to other advanced mining projects, in particular, ones that currently produce spodumene concentrate, but have not yet decided to build an expensive tech plant for refining. Potential adopters of the technology have been identified, and discussions initiated. In addition, the Company is looking at the potential to retrofit existing facilities. Management will update the public on the status of these discussions when materiality requires it.

    St-Georges filed the final documentation with the US Patent Office allowing its patent application to move from its provisional status to the formal patent application stage. The Company also filed a PCT application for the same patent potentially giving it protection in an additional 152 countries. The final version of the patent application now allows for the recovery of lithium from recycled batteries. St-Georges intends to position itself as an ideal partner to provide strategic materials to the battery industry, which includes recycling and recovery of the new generation of batteries, including solid-state batteries. Additionally, this patent application covers recycling as well as lithium metal and alloys manufacturing.

    Pilot Plant(s)

    St-Georges’ management and the metallurgical team have worked on the design, the sourcing of equipment, and the financial aspects of its proposed pilot plant for the better part of the last six months. In an effort to lower the risk of the proposal, the team has initiated discussions with ready-built facilities with extra capacity. This could allow St-Georges to build its pilot plant’s processing circuit faster with only minor modifications to the ready-built facilities. Early estimates confirm that capital expenditure should only be a fraction of the original budgeted cost as the Company will be leasing the facilities long-term. The Company expects to have secured an agreement for the pilot plant facilities in Q2 2020.

    https://ceo.ca/@thenewswire/update-on-lithium-processing-technology-initiative

    Update on Lithium Processing Technology Initiative & Iceland Gold Exploration
    (TheNewswire)

    [​IMG]

    Montréal – TheNewswire - April 24, 2020 – St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE: 85G1) is pleased to announce that it has secured vendors and accepted proposals from third-party laboratories to further its lithium metallurgical processing technology’s advanced bench testing and its pilot plant.

    Up to recently, the Company had strategically divided the research workload between various laboratories to protect the intellectual property being developed. These segmented R&D silos will now come together and be integrated within the pilot plant operations.

    As previously announced on February 10, 2020, in the “Winter Update” press release, the Company expected to secure an agreement within the second quarter of 2020. The use of ready-made facilities will generate significant cost reductions and represent a faster alternative than the building of a pilot plant from scratch. St-Georges’ management evaluated different proposals from various potential providers that were intended to meet the Company’s requirements.

    The main contractor retained tipped the balance in its favor with a wealth of experience and state-of-the-art, ready-made facilities that only required certain adjustments specific to the St-Georges process. The team expects an adjustment period, and plant trial runs during Q2 and Q3 2020, subject to Quebec COVID-19 confinement releases. Full pilot scale testing should be initiated in or around the beginning of this year Q4.

    The Company is expecting to receive materials from Iconic Minerals Ltd. (TSX-V: ICM) in accordance with the next phase of the on-going research and development program in place with the Company. Discussions are being held with various mines operators and mineral developers. Producers of spodumene concentrate have shown interest in supplying material for testing.

    Quebec Lithium Resources

    St-Georges also sourced material from a Quebec-based lithium project. The Company’s contractors will be preparing 10 to 15 tonnes of material that should yield results of approximately three metric tonnes of industry-grade spodumene concentrate suitable for pilot testing with the St-Georges’ process. The material should be available to the metallurgical team in the weeks following the Quebec government’s lifting of the COVID-19 lock-down. Sourcing local Quebec material qualifies the Company to apply for certain governmental grants, and the Company expects to apply for these grants in 2020.

    Enrico Di Cesare, President of St-Georges Metallurgy Corp., commented: “Our partners’ facilities seem built for St-Georges. Under the circumstances, it would be non-sensical to spend time and money to replicate the facilities that they own. These groups have significant experience with concentrating, acids and solutions we will be using. In addition, it de-risks St-Georges by allowing us to focus on development work that is on-going. St-Georges looks forward to working with all our partners at CTMP (Centre de Technologie Minérale et de Plasturgie inc.), which has performed the early development work and will continue to work with the St-Georges team. We feel we will be able to accelerate the development and eventual market acceptance of the products we intend to produce. We believe this combination of laboratory work at bench scale and eventual large-scale pilot plant operations will accelerate our development work. We feel blessed to have two quality partners to move forward with, and we continue our collaborations with universities that specialize in this field of work.”

    St-Georges Metallurgy Corp.

    On February 27, 2020, St-Georges incorporated a new subsidiary, St-Georges Metallurgy Corp., and appointed Enrico Di Cesare as its President and CEO. This entity is owned 100% by St-Georges and will handle all metallurgical R&D, laboratory partnerships, metallurgical joint ventures, and related intellectual property.

    In April, the Company has secured the services of a veteran metallurgist, Mr. Ian J. Cox, to work on the projects with a focus on both lithium and nickel

    Ian has a degree in fuel and combustion science, from Leeds University, UK. With post-grad courses in project management from the University of Tennessee, leadership from Harvard, and finance from the Massachusetts Institute of Technology (MIT), he is an experienced project manager/process engineer with extensive experience in new process development and transition from development to design and operation. Ian has built a profitable business in highly competitive international markets. He builds strong multi-function teams with international joint venture/partnering experience.

    ....

    ON BEHALF OF THE BOARD OF DIRECTORS

    “Vilhjalmur Thor Vilhjalmsson”

    Vilhjalmur Thor Vilhjalmsson

    President and CEO

    https://ceo.ca/@newsfile/iconic-announces-negotiation-of-equity-financing-up-f9cd7

    Iconic Announces Negotiation of Equity Financing up to $1,000,000

    Vancouver, British Columbia--(Newsfile Corp. - May 28, 2020) - Iconic Minerals Ltd. (TSXV: ICM) (FSE: YQGB) (OTC: BVTEF) announces the negotiation of a private placement for gross proceeds of up to $1,000,000 (the "Financing"), subject to acceptance by the TSX Venture Exchange. These funds will be raised by the Company issuing up to 20,000,000 units (the "Units"), at a price of $0.05 per Unit, each Unit consisting of one common share and one share purchase warrant, each whole warrant entitling the holder thereof to purchase one additional common share, exercisable for a period of two (2) years from the date of issuance at a price of $0.07 per share in the first year and $0.10 per share in the second year.

    Proceeds raised will be used towards exploration, corporate development and general working capital purposes.

    The Company may pay finders' fees in connection with the Financing in accordance with the rules and policies of the TSX-V.

    Insiders may participate for up to 5,000,000 Units from the Financing.

    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.iconicminerals.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.
     
    #110 Xa¡on, Jul 6, 2020
    Last edited: Jul 12, 2020
  11. Xa¡on

    Xa¡on Active Member

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    https://ceo.ca/@newsfile/iconic-minerals-announces-closing-of-non-brokered-private

    Iconic Minerals Announces Closing of Non-Brokered Private Placement

    Vancouver, British Columbia--(Newsfile Corp. - June 29, 2020) - Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB)(the "Company") that it has closed its non-brokered private placement (the "Private Placement") issuing 20,000,000 units (the "Units") at CAD$0.05 per Unit for gross proceeds of CAD$1,000,000.

    Each Unit is comprised of one common share of the Company (a "Share") and one transferable common share purchase warrant (a "Warrant"), with each Warrant exercisable to purchase one common share of the Company (a "Warrant Share") for a period of two (2) years from the date of closing of the Private Placement at a price of $0.07 per Warrant Share in the first year and $0.10 per Warrant Share in the second year.

    All securities issued will be subject to a four month hold period pursuant to securities laws in Canada.

    The Company intends to use the proceeds from the Private Placement for exploration work, corporate development and general working capital.

    The Company paid finder's fees of $3,000 and 60,000 finder's warrants (the "Finder's Warrants") to Canaccord Genuity Corp. The Finder's Warrants are exercisable at $0.07 per Share for a period of 1 year.

    Insiders of the Company subscribed for a total of 3,400,000 Units, with Richard Kern, President, CEO and a director of the Company, subscribing for 2,500,000 Units; Keturah Nathe, a director of the Company, subscribing for 500,000 Units; and Richard Barnett, CFO of the Company, subscribing for 400,000 Units. As a result, the Private Placement is a related party transaction (as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied upon the "Fair Market Value Not More Than $2,500,000" exemptions from the formal valuation and minority shareholder approval requirements, respectively, under MI 61-101.

    ON BEHALF OF THE BOARD

    "Richard Barnett"

    Richard Barnett, CFO

    Contact: Keturah Nathe, VP Corporate Development (604) 336-8614

    For further information on ICM, please visit our website at www.iconicminerals.com. The Company's public documents may be accessed at www.sedar.com

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    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.
     
  12. Xa¡on

    Xa¡on Active Member

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    "Metallurgical Development Activities: The company’s contractors and partnerlaboratorieshave initiated deconfinement in June and are expected to be operating by July 13, 2020. The company has ordered lithium material from differentsources to allow a steady flow of testing allowing its stage II and stage III research to be near completionby the end of the Summer. An important South American spodumene producer that claimsto be on track to be thefuturegreenest lithium producer in the worldhas organizeda first multi-tonshipmentto the Company pilot-plant in Québec.

    Large strategic equipment acquisitions for the pilot plant that will allow production of lithium hydroxide and lithium metal are being negotiated."

    https://webfiles.thecse.com/MonthlyReportSXJune2020_.pdf?DlYczljHu6aqGDzIsKS35E2IB8JDY0Os
     
  13. Xa¡on

    Xa¡on Active Member

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    Lithium Pilot-Plant Service Agreement Executed

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    Montréal – TheNewswire - July 10, 2020 – St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to announce that it has executed a pilot-plant service agreement with a Québec-based, publicly funded laboratory. The agreement allows the Company to have access to a lithium metallurgical processing pilot plant and start operations of the pilot plant as soon as current test work is completed.

    St-Georges Metallurgy Corp., the Metallurgical Research & Development arm of St-Georges Eco-Mining Corp., now has access to a larger, exceptional, and highly skilled team of scientists with experience and in-depth knowledge in chemical, mining, metallurgy, and hydrometallurgy domains. The laboratory has, in the past, done lithium and magnesium pilot plant work.

    The infrastructure now in place allows industrial-scale testing and enables the Company to accelerate its contribution to its different partners’ research. Consequently, St-Georges will provide the scientific data required for them to complete their respective feasibility or pre-feasibility studies (PFS/BFS/PEA).

    Shareholders should expect more details in a follow-up press release in the coming days.

    St-Georges’ lithium extraction technology is now being tested at scale at the refining stage. Current tests focus on the scalability of battery-grade purity material production. The Company and its partners are currently planning additional efforts aimed at the production of lithium metals for the new generation of solid-state batteries. The overall research protocol to test the direct production of lithium hydroxide requires the acquisition and the adaptation of specialized industrial equipment that has already been identified and is in the process of being evaluated.

    St-Georges has notified Iconic Minerals (TSX-V: ICM) that it will now be ready to process its bulk material in short order. Both companies have initiated discussions to expand the scope of their original agreement (Refer to December 18, 2017, Press Release) in order to cover the new lithium metal research development segment.

    Enrico Di Cesare, St-Georges Metallurgy Corp commented: “(…) “We are excited to complete this service agreement (…) In the truly short term, this agreement allows us to keep our focus and spend our energy on the reminder of the process development instead of planning and building facilities. (…) While it also allows us to continue to work on the latest stages of the bench trials with Co:alia (formerly known as CTMP) (…) meanwhile, in parallel, we are looking to reach the point of operating the pilot plant and producing samples for the industry as quickly as possible. We now have the ability to do trials at a smaller scale and larger scale (…)”

    The Company would also like to disclose that it has agreed to take over, from a Québec-based industrial partner, a Québec government research grant, that will be used towards the lithium and nickel initiative research with Co:alia (formerly CTMP).

    ...

    https://ceo.ca/@thenewswire/lithium-pilot-plant-service-agreement-executed
     
  14. Xa¡on

    Xa¡on Active Member

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    Lithium Processing Technology Update

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    Montréal, July 19, 2020 – TheNewswire - St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) is pleased to provide additional information regarding the contracted pilot plant facilities of Carrefour innovation sur les matériaux de la MRC des Sources or “CIMMS” initially disclosed in a press release on July 10, 2020. The Company is also providing an update on its research and development process that is now fully reactivated following a slower development period in the last quarter.

    The pilot plant operations

    The pilot plant being contracted is a “state of the art” newly-built facility owned and operated by CIMMS.

    The agreement has an 18-month duration and can be extended. It marks the beginning of a new phase of testing in the development of the Company’s lithium processing technology.

    CIMMS-contracted infrastructures and resources allow St-Georges Metallurgy to scale up instantly without the lag time usually experienced when research teams integrate new members and train on new equipment. CIMMS also contributes immediately to the Company’s bank of resources and expertise by making available experienced and highly respected lithium metallurgy researchers. The CIMMS-led team consists of:

    Yu-Mei Han, Ph.D. Metallurgy, who is the technical director and was the process engineer during the start up of the Quebec lithium mine. She is very experienced in lithium pilot plant design and conception.

    Denys Pinard, Chemist with nearly 40 years’ experience in hydrometallurgy. Denys was the 4th person hired by Québec Lithium, where he participated in the start up of their commercial plant. His expertise revolves around lithium extraction processes, spodumene decrepitation, sulfidation, lixiviation, purification, and carbonation.

    Jonathan Viens, Operation supervisor of the CIMMS, Jonathan has experience in characterization and optimization of spodumene acidulation processes. He has worked on the realization of different projects, specifically on optimizing lithium recovery.

    Sylvain Couture, Eng. Director of CIMMS, Sylvain accumulates decades of experience in industrial equipment conception. Over the years, he contributed to various R&D initiatives focusing on industrial reject alternative usage and was involved in the start up of various industrial plants.

    Enrico Di Cesare, St-Georges Metallurgy’s President, commented: “(…)With the extent of the partners and the laboratories we now have integrated with our research initiatives, we have the flexibility and scalability to fulfill all our research needs (…) the infrastructure and experience that is available and the elimination of team integration and equipment learning curves should reduce the lag time between design and conception and real-life industrial testing significantly. (…) The current approach allows development and innovation in parallel or allows multiple technical teams to work in conjunction to achieve innovation or solutions as required. (…) The elimination of fixed costs, building and commissioning, and the level of control we now have on our development and testing costs allow us to take chances on concepts that would have been put aside before. We will continue to focus on Key Performance Indicators but have some flexibility to try outside the box thinking and more freedom to innovate (…)”

    For pictures and description of the CIMMS facilities, please scroll down to the end of this press release

    Lithium Processing Technology Advancements

    Shareholders and stakeholders alike should remember that the Company was able to concentrate mechanically the lithium found in the clay in the material obtained from Nevada Lithium projects. Air classification resulted in the elimination of 55% of the gangue material with no lithium loss resulting in an increase of approximately 2.2 times the lithium content in the resulting material (See Press Release “Independent Review of Phase One Lithium in Clay R&D Completed”, July 24, 2019).

    Additional concentration with Nitric and Citric acid allowed for the elimination of up to 96% of the material without loss of lithium. The resulting 4% having 99.9% of the lithium still present in the solution and being equivalent to a 25-fold increase of lithium concentration in the resulting solution.

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    Fig. 1 St-Georges’ Hydrometallurgical Lithium Extraction Process Phases

    Larger scale tests now take in account the moisture content of the material, often up to 17% moisture, that the clay sediment carries and which results in almost the same percentage of acid loss that cannot be recycled in the process and also, currently, of some lithium loss up to the same 17% when the leach solution is filtered.

    A conceptual scenario using 44 tonnes of feeding material from a blend of lithium-in-clay type projects would result in 24 tonnes being discarded and 20 tonnes being sent to an acid bath of 180 tonnes of a proprietary mix of acid dominated by nitric acid.

    In the tests conducted during Phase I and previously disclosed, the Company metallurgists were able to leach within less than an hour, over 99.9% of the lithium into solution, at atmospheric pressure and ambient temperature.

    However, the lithium needs to be recuperated, and the Phase I report initially underlined a significant challenge for the process at the time. Fine materials like clays can retain much of the acid and lithium in filter cake losses. That can represent retention of humidity that is higher than other concentrates, up to 17% compared to a maximum of up to 8% in traditional lithium concentrates obtained from spodumene hosted in hard rock material. The Company’s R&D efforts are now focused on further concentration and the reduction of acid losses in the residues.

    This phenomenon seems to be universal to all lithium-in-clay projects across the industry and is not a specific situation. It impacts the recuperation grade and cannot be overlooked. Optimizing the purification steps and minimizing chemical losses will continue to be the priority along with minimizing energy requirements. The intent is also to be able to show value-added by-products such as fertilizer and start working with the industry to optimize chemistry to meet clients’ needs and improve value.

    This led to an interesting discovery by the metallurgical team. A new approach was introduced in the conception of the Phase II processing technology applied to this type of material. The Company is now ready to conduct scaling tests with a proprietary adaptation of resin balls that will allow the recuperation of the lithium in the leach solution without filtration. The Company believes that this will significantly reduce the loss due to the moisture content. Tests need to be conducted on a large scale to test the potential recuperation improvements as well as the loss of acid that would remain in the acid leach containers and be recycled to process more material. It is important to note that the lithium loss due to moisture in the filtration press ends up in the mining residue without creating important challenges. However, the acid rejected constitutes a more important issue as it needs to be neutralized, increasing infrastructure, neutralization material, and workforce costs that, even if it is not estimated yet, are guaranteed to be significant. The ability to scale the solution recently discovered is then paramount and constitutes an important and positive development.

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    ON BEHALF OF THE BOARD OF DIRECTORS

    “Vilhjalmur T. Vilhjalmsson”

    VILHJALMUR THOR VILHJALMSSON


    President & CEO

    About Carrefour d’innovation sur les matériaux de la MRC des Sources (CIMMS)

    CIMMS is a publicly funded research and development corporation located in Asbestos, Quebec. It is supported by numerous local and regional organizations, along with the provincial and federal governments. CIMMS develops and carries out technological innovation projects specifically related to the industrial, mining/metallurgy and innovative materials sectors.

    About St-Georges Metallurgy Corp.

    Created to manage all metallurgical research and development, joint ventures and partnerships, and hold all mineral processing technology intellectual property and patents. The Corporation is a wholly-owned subsidiary of St-Georges Eco-Mining Corp.

    About St-Georges Eco-Mining Corp.

    St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry. The Company controls all the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & the Manicouagan Palladium Project on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1

    The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

    https://ceo.ca/@thenewswire/lithium-processing-technology-update

    ----

    http://cimms.ca
     
  15. Xa¡on

    Xa¡on Active Member

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    0.jpg

    Our Bonnie Claire property, located in Nevada, is home to lithium-rich sediments which make it easier to extract lithium from compared to older materials, such as clay.

    We believe that lithium will power the future and we are excited by the greater extraction potential of lithium at our Bonnie Claire property:
    http://iconicminerals.com/bonnie-claire-property/

    https://www.instagram.com/iconicicm/
    https://www.linkedin.com/company/iconic-minerals/
    https://twitter.com/IconicICM
    https://www.facebook.com/IconicMinerals/
     
    #115 Xa¡on, Aug 10, 2020
    Last edited: Aug 11, 2020
  16. Xa¡on

    Xa¡on Active Member

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    Iconic Initiates Drilling Program at Bonnie Claire Lithium Project, Nevada
    Vancouver, British Columbia--(Newsfile Corp. - August 11, 2020) - Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) ("Company" or "Iconic") is pleased to announce that it has mobilized a drill crew and drilling equipment to the Bonnie Claire Lithium Deposit in Nevada. The drilling contract was signed with Harris Exploration Drilling of Fallon, Nevada, for both core and RC drilling.

    The exploration program will consist of 3-5 vertical reverse circulation (RC) holes 90-120 meters (300-400 feet) in depth and 2 vertical core holes 90-120 meters (300-400 feet) in depth (the "Drill Holes"). The RC drilling will provide additional samples for metallurgical testing as well as expand the existing resource. The core holes will be the first drilled on the Bonnie Claire Project, and will be used in engineering studies for a Preliminary Economic Assessment (PEA).

    All of the planned Drill Holes are south of Iconic's previous deep drilling (BC1601-1801) in an area of linear lithium anomalies found by surface grid sampling. It is hoped that the sediment hosted lithium will begin very shallow in this area which may allow for future bulk sampling using an excavator. In past drilling the shallowest depth of lithium rich sediments that was intercepted was at 6 meters (20 feet) and contained +600 ppm Li, which increased at depth with Li values up to 2250ppm. In addition to collecting the sediments for testing, because the surface anomalies may indicate near-surface lithium brine, preliminary semi-quantitative brine samples will also be taken from all holes during drilling.

    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. Quartz-rich volcanic tuffs, that contain anomalous amounts of lithium, occur within and adjacent to the valley. 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, 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 35 km2 (13.5 mi2) with potential to be underlain by lithium-rich sediments.

    On behalf of the Board of Directors

    SIGNED: "Richard Kern"

    Richard Kern, President and CEO
    Contact: Keturah Nathe, VP Corporate Development (604) 336-8614

    For further information on ICM, please visit our website at www.iconicminerals.com
    The Company's public documents may be accessed at www.sedar.com
     
  17. Xa¡on

    Xa¡on Active Member

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  18. Xa¡on

    Xa¡on Active Member

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    EfPPvO_XkAAXuqR.jpg

    Our gold properties are located in New Pass and Squaw Creek, Nevada.

    With over 2200 acres, a NI 43101 resource of 340,000 oz, and a controlling interest over the land, we are very excited for future drilling results. $ICM

    Learn more here: http://iconicminerals.com/gold-properties/
     
  19. Xa¡on

    Xa¡on Active Member

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    Iconic Announces Spin-Out of New Pass and Midas South Gold Properties
    Vancouver, British Columbia--(Newsfile Corp. - August 18, 2020) - Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) ("Company" or "Iconic") is pleased to announce a spin-out transaction (the "Spin-Out") whereby Iconic will transfer its 50% interest in each of the New Pass and Midas South (previously Squaw Creek) gold properties located in Nevada to a wholly-owned subsidiary of the Company ("SpinCo").

    Iconic intends to distribute the common shares in the capital of SpinCo (each, a "SpinCo Share") to the shareholders of Iconic on a pro rata basis and to apply to list (the "Listing") the SpinCo Shares on the TSX Venture Exchange (the "TSXV"). The number of SpinCo Shares to be distributed to each shareholder of Iconic under the Spin-Out has not yet been determined. There will be no change in the shareholdings of individual Iconic shareholders as a result of the Spin-Out.

    Richard Kern, Iconic's President and CEO, stated, "We believe the value of the New Pass and Midas South gold assets is not reflected in Iconic's current share price and see the spin-out as a way to create additional value for Iconic shareholders. The transaction will allow the new spin-out company to evaluate opportunities in the gold sector, while Iconic retains its primary focus on its Bonnie Claire and Smith Valley Creek lithium properties."

    Further details of the Spin-Out will be announced in the near future. Shareholders of the Company are cautioned that the final details of the Spin-Out are still to be determined and there is no certainty that the Spin-Out or the Listing will be completed on the terms currently proposed or at all. The Spin-Out and the Listing are subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSXV and any applicable securities regulatory authorities.

    New Pass Project Property

    The New Pass property is located in Churchill County, 27 miles west of Austin, Nevada. The property is a joint venture with McEwen Mining Inc., of which the Company holds a 50% interest. Gold mineralization on the property is hosted in medium to thin bedded silty and carbonaceous limestones of the Triassic Lower Augusta Mountain Formation.

    New Pass Drilling

    In April 2006, the Company received a new mineral resource report on the New Pass project compiled by Paul A Pelke, California Registered Geologist, Reno Nevada and Sam S. Arentz III, P.E., Sparks, Nevada, as revised in October 2006 (the "2006 Report"). The 2006 Report was prepared using National Instrument 43-101 ("NI 43-101") guidelines and standards and made additions to the previously filed NI 43-101 report filed on the New Pass project. According to the 2006 Report, which has been superseded by the 2010 Report (as defined below), the New Pass project contains an Inferred Mineral Resource of 11.5 million tons (10.5 million tones) averaging 0.0226 oz/t (0.78 g/t) gold and 0.2214 oz/t (7.59 g/t) silver. This is equivalent to approximately 260,000 ounces of gold and 2.546 million ounces of silver. The shallow and largely oxidized nature of the resource indicates it may be amenable to open pit heap-leach mining methods.

    In February 2008, the Company released results of its 33 hole / 16,785 feet (5,117 m) 2007 Reverse Circulation (RC) drilling program. The Company discovered a mineralized fault well west of the Inferred Mineral Resource at the New Pass project and extended the mineralized system west, north and east. In order to follow these extensions, a Plan of Operations was filed with the Nevada Bureau of Land Management (BLM) to allow for an expanded drilling program.

    In May 2008, the Company resumed exploration drilling on the New Pass project. The plan called for 12,000 feet of reverse circulation drilling. A twenty five hole, 12,220 feet (3,726 m) drilling program was completed by the Company in November 2008. The program included 3 diamond core holes and 22 reverse circulation (RC) holes. Drilling continued to expand the Inferred Mineral Resource to the west. The best example of this is NP-0813, which intersected 160 feet (49 m) averaging 0.053 oz/ton (1.82 g/t) gold and 0.17 oz/ton (5.8 g/t) silver on Section 1200 North.

    The core drilling allowed for great understanding of the structures associated with the bedded mineralized zone at New Pass. This drilling indicated that the bulk of the mineralization is hosted by sedimentary breccias formed by a prolonged weathering cycle and formation of karst within the limestones which were later covered with Tertiary volcanics. The mineralization is not associated with a bedding plane shear and therefore must be fed by high angle faults.

    On September 8, 2010, the Company filed an NI 43-101 technical report dated effective September 3, 2010 and entitled "NI 43-101 Technical Report and Revised Resource Estimation on the New Pass Property, Churchill County, Nevada, Revised" (the "2010 Report"), which included updated information on the drilling conducted at the New Pass project since the 2006 Report. The 2010 Report was authored by Paul D. Noland, CPG, of Elko, Nevada. Noland stated, "The property currently contains an Inferred Mineral Resource of 15,515,488 short tons at 0.022 ounce per ton (opt) gold equivalent [sic] or 341,750 ounces of gold equivalent." Given the date of the 2010 Report, the Company acknowledges that the 2010 Report is not current according to the policies and regulations of NI 43-101. A Plan of Operations which allows drilling over a much expanded area was granted in July 2009 and bonded in November 2009. The Company believes there is significant additional potential to the north under volcanic cover and down dip.

    Midas South Gold Property

    The Midas South property is located 15 miles southeast of the Ken Snyder Deposit between the Ivanhoe Mining the Midas Mining Districts, Nevada. Both the Ivanhoe Mining District and the Midas Mining District lie on the northwest strike projection of the Carlin Trend and within the Northern Nevada Rift. The Midas Mining District lies at the northwest end of a line of gold deposits, which extends to the southeast to the Rain deposit, south of Carlin, Nevada. The Midas South property is a joint venture with McEwen Mining Inc., of which the Company holds a 50% interest.

    According to the NI 43-101 report on the property dated February 20, 2005 entitled "NI 43-101 Report on the Squaw Creek Property, Elko County, Nevada", strongly anomalous gold mineralization has been consistently intersected in drill holes over an area 3 miles long by 1 mile wide. The Company conducted a geophysics survey of the property and a 4 hole deep core drilling program beginning in 2006. The primary target was a high grade vein deposit.

    Midas South Drilling

    The drilling on the Midas South property tested a major north-south trending, west dipping fault system detected by geophysics. SC-0702 intersected at 70 feet (21 m) long fault zone (true thickness of 45 feet or 14 m) starting 250 feet (76 m) below the fault intercept in 0602. SC-0602 contained a 25 feet (8 m) long fault zone (true thickness of 22 feet or 7 m). SC-0702, which intersected the fault at a down-hole depth of 925 feet (282 m), has an average gold grade of 0.030 oz/t (1.02 g/t) over the 70 foot (22.5 m) interval and includes 10 feet (3 m) of 0.073 oz/t (2.50 g/t) gold. Core hole 0602 above, intersected the fault at a down-hole depth of 780 feet (276 m) and has an average gold grade of 0.0125 oz/t (0.43 g/t) over the 25-foot (8 m) interval. Both the width of the fault zone and gold grade increased with depth. Silver values in both holes are low with silver to gold ratios of 1 to 1 or less.

    In September 2008, a 1,358 feet (414 m) long core hole (SC-0801) was completed on the Midas South property to test a mineralized fault zone down dip from drill hole SC-0702 (70 feet @1.02 g/t gold). Previous drilling indicated the fault dipped approximately 70 degrees. However, the fault flattens to roughly 45 degrees causing SC-0801 to intercept the zone only 180 feet (55 m) below the elevation of SC-0702.

    The SC-0801 intercept is 120 feet (37 m) [100 feet true width] compared to 70 feet (21 m) in 0702 [45 feet true width]. The 0801 grade is slightly higher and contains the first +3.0 g/t gold intercepts at the property (3.19 and 3.43 g/t gold over 5 feet samples). Deeper drilling is needed to determine if gold grades continue to increase.

    SpinCo Private Placement

    In connection with the Spin-Out, SpinCo plans to conduct a non-brokered private placement (the "Private Placement") of up to 4,000,000 units (each, a "Unit") at a price of $0.20 per Unit for aggregate gross proceeds of up to $800,000. Each Unit will consist of one SpinCo Share and one-half of one SpinCo share purchase warrant (each whole warrant, a "Warrant"), with each Warrant entitling the holder thereof to purchase one SpinCo share at a price of $0.30 per SpinCo share for a period of 12 months from the closing of the Private Placement, subject to acceleration if the closing price of Spinco's shares on a stock exchange is equal to or greater than $0.50 for a minimum of ten consecutive trading day at any time after the closing of the Private Placement.

    Net proceeds from the Private Placement are expected to be used for working capital and to fund exploration activities on the New Pass and Midas South properties, which will include a further update on New Pass's NI-43-101. The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSXV and any applicable securities regulatory authorities.

    All securities issued in connection with the Private Placement will be subject to an indefinite hold period in Canada until SpinCo becomes a reporting issuer in a Canadian jurisdiction in accordance with applicable Canadian securities laws. The Company may pay finder's fees on a portion of the Private Placement to arm's length parties that have introduced the Company to subscribers participating in the Private Placement, consisting of a cash commission and non-transferable finder's warrants.

    This news release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

    Qualified Person

    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.

    On behalf of the Board of Directors

    "Richard Kern"

    Richard Kern, President and CEO
    Contact: Keturah Nathe, VP Corporate Development (604) 336-8614

    For further information on Iconic, please visit our website at www.iconicminerals.com

    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 news release.
     
  20. Xa¡on

    Xa¡on Active Member

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