http://minerals.nv.gov/Programs/DMRE/NotOfIntentTD/ http://minerals.nv.gov/Programs/DMRE/DM_NOI/N0012_20200811_Bonaventure_Nevada_S12T9SR44E/ http://minerals.nv.gov/Programs/DMRE/DM_NOI/N0013_20200811_Bonaventure_Nevada_S02T9SR44E/ http://minerals.nv.gov/Programs/DMRE/DM_NOI/N0014_20200811_Bonaventure_Nevada_S12T9SR44E/ http://minerals.nv.gov/Programs/DMRE/DM_NOI/N0015_20200811_Bonaventure_Nevada_S01T9SR44E/ http://minerals.nv.gov/Programs/DMRE/DM_NOI/N0016_20200811_Bonaventure_Nevada_S02T9SR44E/ Intended start dates: 18.08. Core 1 22.08. Core 2 25.08. RC 1 28.08. RC 2 31.08. RC 3
Drill holes overview (credits to phobieeee) white dots = previous drill holes (BC1601, BC1602, BC1701, BC1801) red squares = Core drill holes of 2020 drill program (BC2001C, BC2002C) red dots = RC drill holes of 2020 drill program (BC2003, BC2004, BC2005)
https://ceo.ca/@newsfile/iconic-grants-stock-options Iconic Grants Stock Options Vancouver, British Columbia--(Newsfile Corp. - September 2, 2020) - Iconic Minerals Ltd. (the "Company" or "Iconic") (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) announces the grant, pursuant to its 10% Rolling Stock Option Plan that was ratified and approved by shareholders on February 26, 2019 and accepted for filing by the TSX Venture Exchange on March 7, 2019, of stock options to certain eligible directors, officers and consultants to purchase a total of 7,500,000 common shares. The stock options vest immediately and are exercisable, in whole or in part, on or before September 2, 2022 at an exercise price of $0.11 per share. On behalf of the Board of Directors SIGNED: "Richard Barnett" Richard Barnett, CFO and Secretary 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
Iconic Completes Core Drilling and Initiates RC Drilling at Bonnie Claire Lithium Project, Nevada Vancouver, British Columbia--(Newsfile Corp. - September 28, 2020) - Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) ("Company" or "Iconic") is pleased to announce that it has completed two core holes at the Bonnie Claire Lithium Deposit in Nevada. A total of 221 meters (726 feet) of drilling was completed in the two vertical holes. Both NQ (7.57 cm or 3 inch diameter) core holes had excellent recovery except in rare sandy beds. Dark green claystone, indicative of lithium bearing sediments, were intersected from 2.4 meters (8 feet) to total depth in both holes. The claystone is overlain by thin alluvial cover. The core was quartered using a core saw and one quarter sent to ALS Chemex in Reno, Nevada for multi-element analysis. Results are expected in 15-20 days. The remaining core will be used in engineering studies for a Preliminary Economic Assessment (PEA). An RC (reverse circulation) drill rig is being mobilized to the site and will drill 3-5 holes to expand the resource and collect samples for metallurgy. Water samples will be taken from cuttings exiting the drill hole at 6 meter (20 foot) intervals. Because water is added to the hole during drilling this is a simple but imprecise way of determining if there is anomalous lithium or boron in the groundwater. Because of the current slow turn-around of geochem lab, results for both sediment and water sampling is not expected for 5-6 weeks. 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. 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: 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 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. https://ceo.ca/@newsfile/iconic-completes-core-drilling-and-initiates-rc-drilling
Iconic Receives Core Drilling Geochemistry for Bonnie Claire Lithium Project, Nevada Vancouver, British Columbia--(Newsfile Corp. - October 30, 2020) - Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) ("Company" or "Iconic") is pleased to announce that it has received geochemical results for sediments from two core holes at the Bonnie Claire Lithium Deposit in Nevada. Both drill holes contain intercepts of +1,000 ppm lithium and continue to show that results are consistent with those from prior drilling. Sediment geochemical analysis was done by ALS Chemex of Reno, Nevada. Core hole BC2001C intersected 67 meters (220 feet) averaging 1209 ppm Li and contained a high of 1710 ppm Li. Core hole BC2002C contained a high of 1070 ppm Li. Occasional lighter colored sediments seen in the core may indicate some leaching of soluble elements is occurring. Water samples, highly diluted by added drill water, were taken from each core hole. The water samples were analyzed for dissolved lithium by Western Environmental Testing of Sparks, Nevada. Of the four samples taken the high for dissolved lithium was 38 ppm. The highest water sample taken in all of Iconic's previous drilling at Bonnie Claire, with the exception of one non-repeatable sample, was 4.1 ppm Li. As a result of these encouraging results the water sampling was also taken in the RC drilling program. These samples were taken at rod changes after clearing the hole of drill water. The RC (reverse circulation) drilling has now been completed. A total of four holes ranging from 61 to 109 meters (200 to 358 feet) were drilled to expand the resource and collect samples for metallurgy. Samples have been sent for testing to ALS Chemex of Reno Nevada for assaying. The drilling extended the current resource approximately 2,500 meters (8,200 feet) to the south. 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. 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: 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 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.
Lithium Processing Technology Update St-Georges technical team is now ready to initiate work aimed at optimizing the purification process of its lithium process and recuperation technology. The objectives are to minimize chemical losses, optimize total process recovery and optimizing the value of the byproducts. The company also intends to validate multiple resources and assure the selectivity of lithium recovery works on different types of resources. Multiple initiatives will be run in parallel with the company’s strategic partners and suppliers. This effort should lead to a complete metallurgical simulation to size and price equipment. St-Georges is committed to utilizing multiple laboratories in parallel in order to protect intellectual proprietary processes and to accelerate IP extension. St-Georges contractors have completed the preparation of a spodumene concentrate sourced from a Québec based mineral resources and the company is now ready to initial leaching tests in a pilot plant environment. The company is expecting material recently prepared from the Bonnie Claire Project in Nevada from its partner Iconic Minerals. The company expects to run a complete pilot mining processing circuit on reception of the material. This next development effort should establish the recuperation and purification parameters needed specifically for that project as well as the final tweaked chemical recipe for the resin used to coat the lithium balls used in the last recuperation and refining stage. https://ceo.ca/@thenewswire/st-georges-inks-licensing-development-agreement
Iconic Announces Option Agreement with Nevada Lithium for Bonnie Claire Property and Announces $1 Million Non-Brokered Private Placement Vancouver, British Columbia--(Newsfile Corp. - December 15, 2020) - Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) (the "Company" or "Iconic") announces that, subject to TSX Venture Exchange acceptance, it has entered into an option agreement (the "Option Agreement") with Nevada Lithium Corp. ("Nevada Lithium"), whereby Iconic, through its wholly owned subsidiary, Bonaventure Nevada Inc. ("Bonaventure") granted Nevada Lithium the option (the "Option") to earn up to a 50% interest in the Bonnie Claire lithium property located in Nye County, Nevada (the "Bonnie Claire Property"). Richard Kern, the Company's Chief Executive Officer, commented, "We are very excited to be working with Nevada Lithium to develop the Bonnie Claire Property and advance it to the production stage." Option Terms Pursuant to the Option Agreement, Nevada Lithium may exercise the Option in three stages by funding USD $5,600,000 in cumulative exploration expenditures on the Bonnie Claire Property, as set out in the table below: Option Phase Exercise Date Exploration Expenditures (USD) Interest Acquired Phase I On or before March 8, 2021 $1,600,000 20% Phase II On or before June 1, 2021 $2,000,000 20% Phase III On or before October 1, 2021 $2,000,000 10% TOTAL: $5,600,000 50% Upon the exercise of the Option in full, the Company and Nevada Lithium will form a joint venture for the development of the Bonnie Claire Property (the "Joint Venture"), with the initial Joint Venture interests of the parties being 50% as to the Company and 50% as to Nevada Lithium. The Company and Nevada Lithium will each fund approved Joint Venture work programs in proportion to their Joint Venture ownership percentage; provided that if a party contributes less than its proportionate interest to a work program, that party's interest in the Joint Venture will be reduced. If a party's interest is reduced to 10% or less, such party's ownership interest will automatically convert to a 0.5% net smelter returns ("NSR") royalty if the Phase II exploration expenditures have not been funded or a 1% NSR royalty if the Phase II exploration expenditures have been funded. The non-diluting party may repurchase at any time (i) the 0.5% NSR royalty for USD $1,000,000; or (ii) the 1% NSR royalty for USD $2,000,000, payable in cash. If Nevada Lithium fails to fund the Phase I exploration expenditures before the applicable exercise date, the Option Agreement will terminate and Nevada Lithium will not acquire any interest in the Bonnie Claire Property. If Nevada Lithium fails to fund the Phase II or Phase III expenditures before the applicable exercise dates, Nevada Lithium will retain any interest in the Bonnie Claire Property already acquired pursuant to the Option Agreement and the each of the parties will each fund approved work programs in proportion to their ownership interest in the Bonnie Claire Property; provided that if a party contributes less than its proportionate interest to a work program, that party's interest in the Bonnie Claire Property will become subject to dilution and conversion into an NSR royalty, as set out above. Subject to the terms of the Option Agreement, prior to the formation of the Joint Venture, Bonaventure will be the operator of the Bonnie Claire Property. Bonnie Claire Property The Bonnie Claire Property is located within Sarcobatus Valley, which is approximately 30 km (19 miles) long and 20 km (12 miles) wide. Quartz-rich volcanic tuffs containing anomalous amounts of lithium occur within and adjacent to the valley. Drill results from the salt flat have included lithium values as high as 2550 ppm Li and a 1560 foot (roughly 475 meter) vertical intercept that averaged 1153 ppm Li. The current 43-101 report on the project notes that, with a cutoff grade of 600 ppm Li and average grade of 1,027 ppm Li, one square mile contains an inferred resource of 5.025 billion kilograms Li (though this is a resource, not a reserve, and has not yet proven economic viability). 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 74 km2 (28.6 mi2) with potential for brine systems and further sediment resources. Private Placement The Company also announces a non-brokered private placement (the "Offering") to raise aggregate gross proceeds of up to $1,000,000 through the sale of up to 10,000,000 units (each, a "Unit") at a price of $0.10 per Unit. Each Unit will consist of one common share in the capital of the Company (each, a "Share") and one-half of one transferable common share purchase warrant (each whole warrant, a "Warrant"), with each Warrant entitling the holder thereof to purchase one Share at an exercise price of $0.15 per Share for a period of 12 months from the closing of the Offering. All securities issued in connection with the Offering will be subject to a four-month and one day hold period in Canada. The Company may pay finder's fees to arm's length parties that have introduced the Company to subscribers participating in the Offering. The net proceeds from the Offering are intended to be used for general working capital. None of the foregoing securities have been and will not be registered under the United States 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 press 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 SIGNED: "Richard Barnett" Richard Barnett, CFO and Secretary Contact: Keturah Nathe, VP Corporate Development (604) 336-8614 For further information on Iconic, please visit our website at www.iconicminerals.com. The Company's public documents may be accessed at www.sedar.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 release. https://ceo.ca/@newsfile/iconic-announces-option-agreement-with-nevada-lithium
This is growing a lot this week. Just look at their resource size vs. other lithium companies (of course, inferred is the keyword here) but the potential is very promising. Feeling good about this one.
Iconic Minerals, Nevada Lithium property agreement 2021-01-28 16:59 ET - Property Agreement The TSX Venture Exchange has accepted for filing an option agreement dated Nov. 30, 2020, between Iconic Minerals Ltd., its subsidiary, Bonaventure Nevada Inc., and Nevada Lithium Corp. (NLC), whereby the company, through its subsidiary, has granted NLC the option to earn up to a 50-per-cent interest in and to the Bonnie Claire property, located in Nye county of Nevada, by NLC financing a total of $5.6-million (U.S.) in three stages on or prior to Oct. 1, 2021, in cumulative exploration expenditures on the property.
Iconic Minerals 10-million-share private placement 2021-02-01 17:40 ET - Private Placement The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Dec. 15, 2020. Number of shares: 10 million shares Purchase price: 10 cents per share Warrants: five million share purchase warrants to purchase five million shares Warrant exercise price: 15 cents for a one-year period Number of placees: seven placees Finders' fees: Leede Jones Gable Inc., $18,000 cash and 90,000 compensation warrants; Raymond James Ltd., $3,000 cash and 15,000 compensation warrants (Each non-transferable compensation warrant is exercisable into one common share at a price of 15 cents for a one-year period.)
Hi @monke I think that we might not use $SX technology at all. Iconic Minerals wasn't in a hurry to get the material to St-Georges Eco-Mining and now the region in Canada is in a lockdown again as far as I know. Not sure if Iconic Minerals has send the material from the Bonnie Claire project yet. We haven't heard much about it from them either. I do like Enrico and the R&D, not using sulphuric acid but a passivating acid sounds intriguing to me but more hard facts required. Anyway I think Iconic Minerals will proceed with whaterver technology proves to be the most economical in the end.
Thanks for the info I really appreciate it. Yes I believe Quebec is back in lockdown, unfortunately. Someone I talked to said they've handled covid quite poorly recently. I have high hopes for ICM this year. May 2021 be the year of lithium! edit: corrected from IMC. Guess I got AMC on my mind lol
Actually, they do! http://iconicminerals.com/news/icon...results-bonnie-claire-lithium-project-nevada/ Of course that doesn't mean they'll rise to the skies together holding hands in perfect unison, but they are affiliated
Iconic Announces TSX Acceptance of JV Lithium Option Agreement and Initial Funds Advancement February 3, 2021 by News Vancouver, British Columbia – February 3, 2021 – Iconic Minerals Ltd. (the “Company” or “Iconic”) (TSX‑V: ICM) (OTC: BVTEF) (FSE: YQGB) announces that the Company has received acceptance from the TSX Venture Exchange on January 28, 2021, for the Company to enter into the option agreement (the “Option Agreement”) with Nevada Lithium Corp. (“Nevada Lithium”)) whereby Iconic, through its wholly owned subsidiary, Bonaventure Nevada Inc. (“Bonaventure”) granted Nevada Lithium the option (the “Option”) to earn up to a 50% interest in the Bonnie Claire lithium property located in Nye County, Nevada (the “Bonnie Claire Property”). See the news release dated December 15, 2020. Pursuant to the Option Agreement, Nevada Lithium may exercise the Option in three stages by funding USD $5,600,000 in cumulative exploration expenditures on the Bonnie Claire Property. Phase I of the Option Agreement is expected to be exercised on or before March 8, 2021, to obtain 20% of the joint venture interests by expending USD$1,600,000 in exploration expenditures (“Exploration Expenditures”) on the Bonnie Claire Property. Iconic has received an advance of funds towards the initial Phase I Exploration Expenditures, which were used to acquire additional mining claims at the Bonnie Claire property. The acquisition ensures that the Company has sufficient land for major expansion of the exploration and development of the property. These additional claims include 220 placer claims totaling 4,400 acres, which increase the total claims held to 915 or 18,300 acres (74 km2 or 28.6 mi2). All of the claims are located on federal lands controlled by the Bureau of Land Management (BLM). Sediment hosted lithium must be held via placer claims on federal lands in the U.S. Richard Kern, Iconic’s President and CEO, stated, “We are looking forward to working with Nevada Lithium to develop the Bonnie Claire Property. The initial $1,600,000 will allow the Company to conduct additional definition drilling, accumulate additional sediments to advance the metallurgy we are currently exploring to find the most economic pathways to production. We are also pleased that this first phase will help facilitate the process of completing the Preliminary Economic Assessment (PEA). The total $5,600,000 is expected to fund all anticipated exploration and development activities, including a final feasibility study and an initial production stage.” Bonnie Claire Property The Bonnie Claire Property is located within Sarcobatus Valley, which is approximately 30 km (19 miles) long and 20 km (12 miles) wide. Quartz-rich volcanic tuffs containing anomalous amounts of lithium occur within and adjacent to the valley. Drill results from the salt flat have included lithium values as high as 2550 ppm Li and a 1560 foot (roughly 475 meter) vertical intercept that averaged 1153 ppm Li. The current 43-101 report on the project notes that, with a cutoff grade of 600 ppm Li and average grade of 1,027 ppm Li, one square mile contains an inferred resource of 5.025 billion kilograms Li (though this is a resource, not a reserve, and has not yet proven economic viability). 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 74 km2 (28.6 mi2) with potential for brine systems and further sediment resources. 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 SIGNED: “Richard Barnett” Richard Barnett, CFO and Secretary Contact: Keturah Nathe, VP Corporate Development (604) 336-8614 For further information on Iconic, please visit our website at www.iconicminerals.com. The Company’s public documents may be accessed at www.sedar.com.
Iconic Grants Stock Options February 5, 2021 by News Vancouver, British Columbia–(Newsfile Corp. – February 4, 2021) – Iconic Minerals Ltd. (TSXV: ICM) (OTC: BVTEF) (FSE: YQGB) (the “Company” or “Iconic“) announces the grant, pursuant to its 10% Rolling Stock Option Plan that was ratified and approved by shareholders on February 26, 2019 and accepted for filing by the TSX Venture Exchange on March 7, 2019, of stock options to certain eligible directors, officers and consultants to purchase a total of 3,000,000 common shares. The stock options are exercisable, in whole or in part, immediately at an exercise price of $0.25 per share. 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.
Other Lithium Initiatives Bonnie Claire - Iconic Minerals (TSX-V: ICM) The Company is to complete the last three (3) series of tests required to establish an optimum leaching solution mix. The metallurgical team also expects to identify a final resin blend customized to the specific nature of the mineral found within the project resource. These tests should be completed following the identification of the final acid blend allowing the resin formula to be adapted to the blend and balanced against the goal of keeping the lithium extraction rate at the current level while maximizing commercial-grade fertilizer extraction. The team is confident that the current process, which brings about the lithiumwith no apparent loss into a solution representing less than 4% of the initial mass, can be further improved with additional customization. Selective lithium extraction is also done via a cost-effective and eco-friendly method that uses resin balls with proprietary elements at ambient temperature and normal pressure. The next steps will involve determining the best possible commercial lithium end-product as the process allows for lithium hydroxide production without the addition of a separated circuit. St-Georges has requested quotations from equipment providers to acquire an electrolysis machine to add an electrolysis stage at the end of its pilot-plant processing circuit. https://webfiles.thecse.com/MonthlyReportSXJANUARY2021.pdf?VQnBsUqqXBa4cLz8kAVcnz3k2NbMRI_4
@monke of course they are affiliated and St-Georges Eco-Mining just provided an update in the January 2021 Monthly Progress Report. Iconic Minerals will also get 20% of the royalities received by St-Georges from third parties if the technology is used within a specific area (800 miles radius from the Bonnie Claire project in Nevada). So as partner they have an interest that the technology will be succesful but it doesn't mean that they have to use it in the event that a different technology proves to be better suitable or more economic. Anyway I really like the technology from St-Georges but as I said Iconic Minerals wasn't in a hurry to provide material to them and I suspect that there might be a reason for it but I could be wrong.
Iconic Announces Accelerated Development Towards Lithium Production Through Receipt of Initial JV Funding Vancouver, British Columbia--(Newsfile Corp. - February 12, 2021) - Iconic Minerals Ltd. (TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) (the "Company" or "Iconic") announces that the Company has received additional Phase I funds totaling CAD $1,200,000 (USD $940,000) (the "Funding") to date from its joint venture partner Nevada Lithium Corp., ("Nevada Lithium") towards receiving its right to earn 20% interest in the joint venture interests on the Bonnie Claire Property (the "Property"). Richard Kern, Iconic's President and CEO, stated, "This funding provided by Nevada Lithium will help Iconic move Bonnie Claire forward at an accelerated pace toward production." Iconic, through its wholly owned subsidiary, Bonaventure Nevada Inc. ("Bonaventure") granted Nevada Lithium the option (the "Option") to earn up to a 50% interest in the Bonnie Claire lithium property located in Nye County, Nevada (the "Property"). Pursuant to the Option Agreement, Nevada Lithium may exercise the Option in three stages by funding USD $5,600,000 in cumulative exploration expenditures on the Bonnie Claire Property on, or before October 1, 2021 (See the news release dated December 15, 2020). With this additional funding, Iconic has initiated the Joint Venture Phase I Exploration program for the completion of its Preliminary Economic Assessment (PEA) on the Property, of which Global Resource Engineering Ltd. (GRE) of Denver, Colorado has been retained to complete the PEA. This initial Funding will allow the Company to conduct the following work on the Property: Additional resource definition drilling; Additional detailed metallurgy; Completion of PEA; Initiation of Plan of Operation; Update NI 43-101 Technical Report and; Bulk Sampling. Bonnie Claire Property The Bonnie Claire Property is located within Sarcobatus Valley, which is approximately 30 km (19 miles) long and 20 km (12 miles) wide. Quartz-rich volcanic tuffs containing anomalous amounts of lithium occur within and adjacent to the valley. Drill results from the salt flat have included lithium values as high as 2550 ppm Li and a 1560 foot (roughly 475 meter) vertical intercept that averaged 1153 ppm Li. The current 43-101 report on the project notes that, with a cutoff grade of 600 ppm Li and average grade of 1,027 ppm Li, one square mile contains an inferred resource of 5.025 billion kilograms Li (though this is a resource, not a reserve, and has not yet proven economic viability). 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 74 km2 (28.6 mi2) with potential for brine systems and further sediment resources. 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 SIGNED: "Richard Barnett" Richard Barnett, CFO and Secretary Contact: Keturah Nathe, VP Corporate Development (604) 336-8614
