Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Iconic Minerals (TSXV: ICM) announced it has begun total project scale permitting at the Bonnie Claire lithium property located 48 kilometers north of Beatty, Nevada.
In a press release, the Canadian miner said that the permit, known as a “plan of operation,” will allow exploration and development of the project for the next several years. The plan includes the building of an all-weather access road into the project site and a facility site, as well as licenses to conduct trenching for bulk samples and access to 39 proposed future drill sites.
The Bonnie Claire property is located within Sarcobatus Valley, which is approximately 30 kilometers long and 20 kilometers wide. According to Iconic Minerals, 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 meters) 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 an average grade of 1,027 ppm Li, one square mile contains an inferred resource of 5.025 billion kilograms Li,” the media brief states.
