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Iconic Minerals to commence drilling at Bonnie Claire lithium brine property

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Iconic Minerals to commence drilling at Bonnie Claire lithium brine property

IconicMinerals Ltd. said July 7 that the Bureau of Land Management hasgranted the company a notice of intent to commence its lithium brine drillingprogram at the Bonnie Claire property, located 30 miles north of Beatty, Nevada.

The property comprises 18,420 acres.

The notice grants the company the right to drill six of theeight approved drill locations which the company applied for through the bureau.

Iconic Minerals has scheduled a drilling rig which will bemobilizing in the property.

The initial drilling program will consist of three verticaldrill holes designed to test potential brine horizons, which have beenidentified by the company's geophysical surveys.

Drill targets will be spaced an average of 1.3 miles apartand drilled to depths of 1,200 to 2,000 feet beneath surface. The brine targetto be tested ranges from 330 feet to 980 feet thick.

Lithium assays from the brine sampling will be availablewithin four to six weeks from the start of drilling.