Arcadium shareholders approve sale to Rio Tinto
Shares of Arcadium Lithium rose about 7% in extended trading after the company said that about 98% of its shareholders had voted in favor of the sale.
Iconic Minerals (TSXV: ICM) has announced that it is ready to start drilling at its Bonnie Claire lithium deposit in Nevada.
In a press release, Iconic said that this exploration program will consist of 3-5 vertical reverse circulation holes 90-120 metres in depth and 2 vertical core holes 90-120 metres in depth.
The company expects the RC drilling to provide additional samples for metallurgical testing as well as expand the existing resource.
Iconic expects the RC drilling to provide additional samples for metallurgical testing as well as expand the existing resource
“All of the planned drill holes are south of Iconic’s previous deep drilling in an area of linear lithium anomalies found by surface grid sampling,” the media brief states. “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.”
The miner said in past drilling, the shallowest depth of lithium-rich sediments intercepted was at 6 metres 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.”
Bonnie Clare is located within Sarcobatus Valley, which is approximately 30 kilometres long and 20 kilometres wide. Quartz-rich volcanic tuffs, that contain anomalous amounts of lithium, occur within and adjacent to the valley.
