Posted by AGORACOM-JC
at 3:08 PM on Friday, October 30th, 2020
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
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
Vancouver, British Columbia–(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
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.
Posted by AGORACOM-JC
at 8:48 AM on Tuesday, October 6th, 2020
NAM owns 100% of eight pegmatite hosted Lithium Projects in the Winnipeg River Pegmatite Field, located in SE Manitoba
The eight projects are strategically situated within the Winnipeg River Pegmatite Field, which hosts the world class Tanco Pegmatite that has been mined for Tantalum, Cesium and Spodumene (one of the primary Lithium bearing minerals) in varying capacities, since 1969
The program is being jointly funded by the Company and the new Manitoba Mineral Development Fund (MMDF) from the Manitoba Chamber of Commerce
The 2020 field work program will focus on follow up exploration of the company’s 2018 field reconnaissance efforts on the Lithium One Project
The Company has an exploration agreement in place with the Sagkeeng First Nation who the Company has engaged to work collaboratively with on completing the 2020 program at Lithium One
NAMs flagship project is the 100% owned River Valley Palladium Project, one of North America’s largest undeveloped primary Palladium Projects
October 6, 2020 – Rockport, Canada – New Age Metals Inc. (NAM) (TSXV:NAM ) ; ( OTC:NMTLF ) ; ( FSE:P7J) (“NAM” or the “Company”) is pleased to announce that the field work planned at the Company’s Lithium One Project in South east Manitoba, has begun. Harry Barr, Chairman & CEO stated; “With the help of a grant from the Manitoba Mineral Development Fund we are pleased to have our technical team and consultants in the field completing the fall program on our Lithium One Project.”
Lithium One Work Program
To complete this program, NAM plans to contract both Carey Galeschuk and Dave Owens, the Company’s consulting geologists in addition to the Twohearts Foundation, a Sagkeeng First Nations exploration service company. The fall 2020 program will include rock sampling, mapping and prospecting at the Company’s Lithium One project in the Greer Lake region. The objective of the program is to surface sample areas that have not been looked at to date at the project and further outline future drill targets.
Click Image To View Full Size
Figure 1 : NAM Project Location Map – Winnipeg River Pegmatite Field. Lithium One Project is highlighted.
Manitoba Mineral Development Fund
In June 2020, the Manitoba Government opened application to the MMDF which offered $20 million in funding to jump-start mineral and economic development initiatives in the north and throughout the province. The MMDF, delivered and administered by the Manitoba Chambers of Commerce, will support new economic development opportunities that capitalize on existing assets in the north and across Manitoba. Projects funded by MMDF will benefit Manitoba’s economy and local communities alike with a partnership-based approach to help grow and diversify the provincial economy together with Indigenous communities.
Manitoba COVID-19 Relief
The Company is taking advantage of relief measures put in place by the Manitoba government for mineral/mining claim holders in 2020. A one-year extension of time on all mining claims and mineral exploration licenses has been granted for claims and licences expiring prior to April 30, 2021. All of New Age Metals claims are eligible for this extension . Furthermore, the Manitoba Agriculture and Resource Development Department has extended double-assessment credits for exploration work completed in 2020. Both of these relief measures will assist the company in maintaining its land position in the Winnipeg River Pegmatite Field and the work completed at Lithium One will provide extended work credits for the Company on that project.
Lithium One Project
The project is geologically situated in the southern extension of the Bird River Greenstone Belt. The pegmatites are associated with the Greer Lake and Shatford Lake Pegmatite Group of the Cat Lake – Winnipeg River Pegmatite Field. The Winnipeg River Pegmatite Field hosts the World-Class Tanco Pegmatite which has been mined since 1969 at the Tanco Mine Site, in various capacities and for various commodities. This pegmatite field is hosted in the Archean age Bird River Greenstone Belt and into the surrounding granites.
The Silverleaf Pegmatite was historically mined in the late 1920’s for spodumene and probably represents one of the first spodumene operations in North America. The central, most economic, portion of the pegmatite is composed of lepidolite surrounded by an envelope of spodumene and quartz. The lepidolite zone outcrops as three large masses with lengths and maximum widths as follows: 23 m x 6 m (75 x 20 ft); 12 m x 4 m (40 x 12 ft); 5.5 m x 3 m (18 x 11 ft); it is also found in a westerly cut over a width of 2 m (6.5 ft). Spodumene is known to outcrop over a 334 m 2 (3600 sq ft). A quartz-spodumene crystal measuring 91 cm x 17 cm (3 ft x 7 inch) was reported near the core zone back in 1933.
Historic drilling of the Silverleaf Pegmatite from the 1950’s indicated a tabular pegmatite body dipping 30? S and extending 168 m (550 ft), while ranging in thickness from 5 to 11 m over a drilled length of 245 m.
The Company’s Phase One Exploration Program in 2018 , sampled several of the known lithium-bearing pegmatites. The purpose of the exploration program was to obtain modern-day assay analyses of the Pegmatites and to ground proof some of the historic Pegmatite locations. Numerous Pegmatites and Pegmatite swarms were not sampled in the 2018 program and will be explored during the 2020 fall program.
Click Image To View Full Size
Figure 2: Annie Pegmatite showing an outcrop with abundant SQUI (Spodumene Quartz Intergrowths) mineralization – The pen in the photo is 8 cm in length.
About NAM
New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration and development of green metal projects in North America. The Company has two divisions; a Platinum Group Metals division and a Lithium/Rare Element division. The PGM division includes the 100% owned, multi-million-ounce, district scale River Valley Project, one of North America’s largest undeveloped Platinum Group Metals Projects, situated 100 km from Sudbury, Ontario. The Company has recently completed a Preliminary Economic Assessment on the project and is working towards Prefeasibility. In Alaska the Company owns 100% of the Genesis PGM-Cu-Ni Project in Alaska. The Lithium division is the largest mineral claim holder in the Winnipeg River Pegmatite Field, where the Company is exploring for hard rock lithium and various rare elements such as tantalum and rubidium. Our philosophy is to be a project generator with the objective of optioning our projects with major and junior mining companies through to production. The Company is actively seeking an option/ joint venture partner for its road-accessible Genesis PGM Cu-Ni project in Alaska and for our Lithium division in Manitoba.
Click Image To View Full Size
Figure 4: White spodumene blades in a matrix of lepidolite (Lithium Mica) from the Silverleaf showing.
New Age Metals is a junior resource company on the TSX Venture Exchange, trading symbol NAM, OTCQB: NMTLF; FSE: P7J with 138,854,511 shares issued to date. Investors are invited to visit the New Age Metals website at www.newagemetals.com where they can review the company and its corporate activities. Any questions or comments can be directed to [email protected] or Harry Barr at [email protected] or Cody Hunt at [email protected] or call 613 659 2773.
About the River Valley Palladium Project
The details of the updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) were announced in the press release dated August 9, 2019 and are described on NAM’s website. The pit constrained Updated Mineral Resource Estimate formed the basis of the PEA . At a cut-off grade of 0.35 g/t PdEq, the Updated Mineral Resource Estimate contains 2.867 Moz PdEq in the Measured plus Indicated classifications and 1.059 Moz PdEq in the Inferred classification. The PEA is a preliminary report, but it demonstrates that there are potentially positive economics for a large-scale mining open pit operation, with 14 years of Palladium production. Refer to the NAM website (www.newagemetals.com) for details.
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If you have not done so already, we encourage you to sign up on our website ( www.newagemetals.com ) to receive our updated news.
Qualified Person
The contents contained herein that relate to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Carey Galeschuk, a consulting geoscientist for New Age Metals. Mr. Galeschuk is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content of this news release with regard to technical aspects of the Lithium Division.
On behalf of the Board of Directors
” Harry Barr”
Harry G. Barr
Chairman and CEO
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.
Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forw ard-looking statements.
Posted by AGORACOM
at 12:48 PM on Friday, September 11th, 2020
EC reports highlighted an overlap between the location battery raw materials resources in the EU and “regions that are heavily dependent on coal or carbon-intensive industries and where battery factories are planned”. Image: EC Joint Centre for Research.
Lithium has been added to a list of raw materials deemed essential to secure supply in Europe, for the first time ever, by the European Commission.
Earlier this month the Commission presented its Action Plan on Critical Raw Materials and a “foresight study” on critical raw materials looking ahead to 2030 and 2050, as well as its updated 2020 list of materials. This list is updated every three years and identifies the raw materials that the Commission said are “most important economically and have a high supply risk”.
A statement from the EC also talked about the importance of access to certain resources to deliver the European Green Deal while preventing the shift to carbon neutrality from becoming also a shift from dependency on fossil fuels to a dependency on raw materials. This week, Members of European Parliament spoke at a webinar hosted by European energy storage industry group EASE about the vital importance of energy storage for decarbonising the continent while also ensuring security of energy supply.
The EC’s documents likewise firmly emphasised the importance of battery raw materials. While cobalt is already on that list, and lithium was added this year, the EC said it will “monitor nickel closely,” given the metal’s importance in battery production. Vanadium, used in flow batteries – as well as in steel production – is also on the 2020 list.
“A secure and sustainable supply of raw materials is a prerequisite for a resilient economy. For e-car batteries and energy storage alone, Europe will for instance need up to 18 times more lithium by 2030 and up to 60 times more by 2050,” said European Commission politician Maroš Šefčovič, who has championed the need to create battery supply chains and manufacturing capabilities in the continent.
“As our foresight shows, we cannot allow to replace current reliance on fossil fuels with dependency on critical raw materials. This has been magnified by the coronavirus disruptions in our strategic value chains.”
Šefčovič, the EC’s Vice-President for Interinstitutional Relations and Foresight, was instrumental in the creation of the European Battery Alliance, which has committed to investing billions of Euros into the manufacturing value chain on the continent over the next few years.
One of the projects to benefit from that Alliance, start-up Northvolt’s first gigafactory in Sweden, received its first processing equipment a few days ago, the company said. Now, the European Commission is set to formulate a similar Alliance for Critical Raw Materials.
Posted by AGORACOM-JC
at 8:55 AM on Thursday, August 27th, 2020
NAM owns 100% of eight pegmatite hosted Lithium Projects in the Winnipeg River Pegmatite Field, located in SE Manitoba
The eight projects are strategically situated within the Winnipeg River Pegmatite Field, which hosts the world class Tanco Pegmatite that has been mined for Tantalum, Cesium and Spodumene (one of the primary Lithium bearing minerals) in varying capacities, since 1969
The summer program is being jointly funded by the Company and the new Manitoba Mineral Development Fund (MMDF) from the Manitoba Chamber of Commerce
The 2020 field work program will focus on follow up exploration of the company’s 2018 field reconnaissance efforts on the Lithium One Project, specifically at the Silverleaf and Annie pegmatites.
2018 surface exploration completed on the Lithium One project yielded field samples grading up to 4.1% Li2O and 6.11% Rb2OThe Company has an exploration agreement in place with the Sagkeeng First Nation who the Company has engaged to work collaboratively with on completing the summer 2020 program at Lithium One
NAMs flagship project is the 100% owned River Valley Palladium Project, one of North America’s largest undeveloped primary Palladium Project
August 27, 2020 – Rockport, Canada – New Age Metals Inc. (NAM) (TSXV:NAM); (OTC:NMTLF); (FSE:P7J) (“NAM” or the “Company”) is pleased to announce the approval of a fall 2020 work program at the Company’s Lithium One Project in South east Manitoba, which is slated to begin this fall. Harry Barr, Chairman & CEO stated; “Over the last few months the Company has applied for and received approval for a grant from the Manitoba Mineral Development Fund. An extra benefit will be gained from the COVID-19 relief measures offered by the Manitoba government which calls for extending Double-Assessment Credits for exploration work completed in 2020.”
Lithium One Work Program
The fall 2020 program will include rock sampling, mapping and prospecting at the Company’s Lithium One project in the Greer Lake region. The objective of the program is to surface sample areas that have not been looked at to date at the project and further outline future drill targets. NAM plans to contract both Carey Galeschuk, the Company’s consulting geologist and the Twohearts Foundation, a Sagkeeng First Nations exploration service company to complete this program.
Click Image To View Full Size
Figure 1: NAM Project Location Map – Winnipeg River Pegmatite Field. Lithium One Project is highlighted.
Manitoba Mineral Development Fund
In June 2020, the Manitoba Government opened application to the MMDF which offered $20 million in funding to jump-start mineral and economic development initiatives in the north and throughout the province. The MMDF, delivered and administered by the Manitoba Chambers of Commerce, will support new economic development opportunities that capitalize on existing assets in the north and across Manitoba. Projects funded by MMDF will benefit Manitoba’s economy and local communities alike with a partnership-based approach to help grow and diversify the provincial economy together with Indigenous communities.
Manitoba COVID-19 Relief
The Company is taking advantage of relief measures put in place by the Manitoba government for mineral/mining claim holders in 2020. A one-year extension of time on all mining claims and mineral exploration licenses has been granted for claims and licences expiring prior to April 30, 2021. All of New Age Metals claims are eligible for this extension. Furthermore, the Manitoba Agriculture and Resource Development Department has extended double-assessment credits for exploration work completed in 2020. Both of these relief measures will assist the company in maintaining its land position in the Winnipeg River Pegmatite Field and the work completed at Lithium One will provide extended work credits for the Company on that project.
Lithium One Project
The project is geologically situated in the southern extension of the Bird River Greenstone Belt. The pegmatites are associated with the Greer Lake and Shatford Lake Pegmatite Group of the Cat Lake – Winnipeg River Pegmatite Field. The Winnipeg River Pegmatite Field hosts the World-Class Tanco Pegmatite which has been mined since 1969 at the Tanco Mine Site, in various capacities and for various commodities. This pegmatite field is hosted in the Archean age Bird River Greenstone Belt and into the surrounding granites.
The Silverleaf Pegmatite was historically mined in the late 1920’s for spodumene and probably represents one of the first spodumene operations in North America. The central, most economic, portion of the pegmatite is composed of lepidolite surrounded by an envelope of spodumene and quartz. The lepidolite zone outcrops as three large masses with lengths and maximum widths as follows: 23 m x 6 m (75 x 20 ft); 12 m x 4 m (40 x 12 ft); 5.5 m x 3 m (18 x 11 ft); it is also found in a westerly cut over a width of 2 m (6.5 ft). Spodumene is known to outcrop over a 334 m2 (3600 sq ft. A quartz-spodumene crystal measuring 91 cm x 17 cm (3 ft x 7 inch) was reported near the core zone back in 1933.
Historic drilling of the Silverleaf Pegmatite from the 1950’s indicated a tabular pegmatite body dipping 30? S and extending 168 m (550 ft), while ranging in thickness from 5 to 11 m over a drilled length of 245 m.
The Company’s Phase One Exploration Program in 2018, sampled several of the known lithium-bearing pegmatites. The purpose of the exploration program was to obtain modern-day assay analyses of the Pegmatites and to ground proof some of the historic Pegmatite locations. Numerous Pegmatites and Pegmatite swarms were not sampled in the 2018 program and will be explored during the 2020 fall program.
Click Image To View Full Size
Figure 2: Annie Pegmatite showing an outcrop with abundant SQUI (Spodumene Quartz Intergrowths) mineralization – The pen in the photo is 8 cm in length.
About NAM
New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration and development of green metal projects in North America. The Company has two divisions; a Platinum Group Metals division and a Lithium/Rare Element division. The PGM division includes the 100% owned River Valley Project, one of North America’s largest undeveloped Platinum Group Metals Projects, situated 100 km from Sudbury, Ontario as well as the Genesis PGM Project in Alaska. The Lithium division is the largest mineral claim holder in the Winnipeg River Pegmatite Field, where the Company is exploring for hard rock lithium and various rare elements such as tantalum and rubidium. Our philosophy is to be a project generator with the objective of optioning our projects with major and junior mining companies through to production. The Company is actively seeking an option/ joint venture partner for its road-accessible Genesis PGM project in Alaska and for our Lithium division in Manitoba.
Click Image To View Full Size
Figure 4: White spodumene blades in a matrix of lepidolite (Lithium Mica) from the Silverleaf showing.
New Age Metals is a junior resource company on the TSX Venture Exchange, trading symbol NAM, OTCQB: NMTLF; FSE: P7J with 138,854,511 shares issued to date. Investors are invited to visit the New Age Metals website at www.newagemetals.com where they can review the company and its corporate activities. Any questions or comments can be directed to [email protected] or Harry Barr at [email protected] or Cody Hunt at [email protected] or call 613 659 2773.
About the River Valley Palladium Project
The details of the updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) were announced in the press release dated August 9, 2019 and are described on NAM’s website. The pit constrained Updated Mineral Resource Estimate formed the basis of the PEA. At a cut-off grade of 0.35 g/t PdEq, the Updated Mineral Resource Estimate contains 2.867 Moz PdEq in the Measured plus Indicated classifications and 1.059 Moz PdEq in the Inferred classification. The PEA is a preliminary report, but it demonstrates that there are potentially positive economics for a large-scale mining open pit operation, with 14 years of Palladium production. Refer to the NAM website (www.newagemetals.com) for details.
Global Mining Symposium
New Age Metals is pleased to announce that the Company will be participating in next week’s Global Mining Symposium. Harry Barr will be presenting at 2:10 PM EST on Tuesday, September 1. To view details of the event, click here.
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If you have not done so already, we encourage you to sign up on our website (www.newagemetals.com) to receive our updated news.
Qualified Person
The contents contained herein that relate to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Carey Galeschuk, a consulting geoscientist for New Age Metals. Mr. Galeschuk is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content of this news release with regard to technical aspects of the Lithium Division.
On behalf of the Board of Directors
“Harry Barr”
Harry G. Barr
Chairman and CEO
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.
Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.
Posted by AGORACOM-JC
at 9:12 AM on Tuesday, August 11th, 2020
Announced that it has mobilized a drill crew and drilling equipment to the Bonnie Claire Lithium Deposit in Nevada
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
Vancouver, British Columbia–(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
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.
Posted by AGORACOM-JC
at 5:40 PM on Thursday, March 5th, 2020
SPONSOR: New Age Metals Inc.
The company owns one of North America’s largest primary platinum
group metals deposit in Sudbury, Canada. Updated NI 43-101 Mineral
Resource Estimate 2,867,000 PdEq Measured and Indicated Ounces, with an
additional 1,059,000 PdEq Ounces Inferred. Learn More.
Palladium, rhodium demand to remain, despite virus outbreak: analyst
Though the coronavirus outbreak may affect near-term automobile demand, long-term demand for palladium and rhodium will remain unchanged
Washington — Though the coronavirus outbreak may affect
near-term automobile demand, long-term demand for palladium and rhodium
will remain unchanged unless automakers substitute for other metals,
managing director Frederic Panizzutti of MKS Dubai said.
“If I was a carmaker, I would definitely stock palladium while the
price is lower, and I believe this is going to keep palladium strong,
even if the demand goes down in China, the UK, or the demand for parts
decreases,” Panizzutti said in an interview this week.
Rhodium and palladium, along with platinum, are used in automobile
catalytic converters to control emissions of certain greenhouse gases
and pollutants.
“It’s a bargain for car manufacturers to be able to acquire palladium
if it goes lower; it’s been a one-way street for months now,”
Panizzutti said, referring to the recent rallies in palladium and
rhodium.
NYMEX palladium has risen nearly 25% since the start of the year to
reach an intraday high of $2,789.80/oz on February 27. NYMEX palladium
for June delivery closed at $2,469.40/oz on Thursday.
Rhodium, which is not traded on major exchanges, has risen nearly
114% since the start of the year. The Platts New York Dealer rhodium
price was assessed at $12,700-$13,000/oz on February 27.
Analysts have attributed the sharp price increase to automakers
trying to secure enough metal for catalytic converters that meet new
emissions standards in China, India and Europe, as well as the US and
UK.
Further spread of the coronavirus outbreak globally could reduce
automobile demand, along with the projected 1 million oz supply deficit
in palladium, Panizzutti said.
The China Passenger Car Association on Wednesday said new car sales
in China had plummeted 80% in February from a year ago, the biggest
monthly decline on record, though it declined to provide a figure.
Analysts attributed the declining sales to government restrictions to
limit the spread of the coronavirus in China, where it began in Hubei
Province. Hubei is a major auto manufacturing hub in China.
But even if the coronavirus outbreak becomes a global pandemic,
governments and businesses will have to adapt as they do nearly every
year with widespread influenza outbreaks, Panizzutti said.
Automobile production, and by extension palladium and rhodium demand, would continue, though possibly at a lower rate, he added.
PLATINUM SUBSTITUTION
“I believe the palladium price now is far over the threshold that automakers are willing to accept,” Panizzutti said.
But substituting platinum for palladium in catalytic converters takes time due to design and testing procedures, he noted.
“In my opinion, it should happen, whether it takes several months or
longer because the palladium situation is unsustainable. And I see no
reason why the situation should change if nothing changes in the
supply/demand balance,” Panizzutti said.
“And the only way to change the supply/demand balance is to switch
partially or totally from palladium to platinum. If there is no switch,
the situation will be the same and will remain a struggle for
manufacturers to get hold of material,” he said.
Posted by AGORACOM-JC
at 10:15 AM on Thursday, February 20th, 2020
Announced 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. regarding Phase 2 metallurgical testing of the lithium-rich sediment from Iconic’s Bonnie Claire lithium deposit in Nevada
Vancouver, British Columbia–(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
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.
Posted by AGORACOM-JC
at 2:23 PM on Wednesday, February 19th, 2020
SPONSOR: New Age Metals Inc.
The company owns one of North America’s largest primary platinum
group metals deposit in Sudbury, Canada. Updated NI 43-101 Mineral
Resource Estimate 2,867,000 PdEq Measured and Indicated Ounces, with an
additional 1,059,000 PdEq Ounces Inferred. Learn More.
Palladium Surges to Record Despite Slowdown Concerns in China
Palladium prices have surged on high demand from automakers seeking to meet stricter emission standards as world governments look to combat climate change and growing pollution levels.
The palladium ETF rallied Tuesday, with palladium prices hitting
record highs, even as the coronavirus outbreak threatens to shutdown
carmakers and delay industrial plants in China, the world’s biggest
consumer of the precious metal.
Palladium prices have surged on high demand from automakers seeking
to meet stricter emission standards as world governments look to combat
climate change and growing pollution levels.
Meanwhile, the coronavirus outbreak has disrupted normal car
production in China as factors were forced to stop operations to curtail
the spread of the contagion, the Wall Street Journal
reports. For example, Germany’s Volkswagen AG postponed production at
some of its Chinese-operated plants until next week as the quarantine of
nearly 60 million people limits transportation of both parts and
workers.
While the work has diminished short-term demand, palladium prices
still jumped to record highs on ongoing supply constraints, with miners
producing less of the precious metal.
“It’s the most dysfunctional market I’ve ever seen in my life,â€
Michael Widmer, an analyst at Bank of America, told the WSJ, adding that
car manufacturers could be forced to electrify their vehicle fleets
faster than previously planned if palladium keeps getting more
expensive.
Palladium demand has surged in recent years as the European Union and
China implemented stricter car emission standards, amid concerns over
the impact of certain pollutants on public health. Consequently,
palladium, which applied to catalytic converters that are fitted to
gasoline-driven cars, is in high demand as a highly effective way to
convert toxic gases like carbon monoxide into substances that are less
toxic to inhale.
Almost all gasoline cars manufactured in China this year will be held
to the new emissions standards, or up from two-thirds in 2019.
Consequently, U.K.’s Johnson Matthey calculated that this will increase
the average amount of palladium required in each catalyst and could lift
global demand for the precious metal in the auto sector above 10
million ounces.
On the other hand, supply has not been as quick to meet the rise in
demand. Palladium is typically produced as a byproduct of palladium, and
miners don’t want to inundate the weak platinum market with even more
supply.
Consequently, Anglo American Platinum Ltd projected that global
demand for palladium will exceed production by 1.9 million ounces in
2020.
Posted by AGORACOM-JC
at 4:51 PM on Tuesday, February 18th, 2020
SPONSOR: New Age Metals Inc.
The company owns one of North America’s largest primary platinum
group metals deposit in Sudbury, Canada. Updated NI 43-101 Mineral
Resource Estimate 2,867,000 PdEq Measured and Indicated Ounces, with an
additional 1,059,000 PdEq Ounces Inferred. Learn More.
David Jensen: As Palladium Continues To Soar, Is Platinum Next…
Chris Marcus, Arcadia Economics
Most
in the Wall Street mainstream have yet to notice that the price of
palladium has more than doubled in the past 2 years. As the market
continues to show signs of a shortage, with no easy resolution in sight.
Which David Jensen of Jensen Strategic has been far ahead of the
markets in forecasting.
So
I was fortunate to have David join me on the show and explain what’s
happening. Explain how the imbalance is going to have to be resolved.
And share what he’s now seeing in the platinum market, where the lease
rate indicates a similar pattern might soon be underway.
Of
course this does have the potential to filter over to the other
precious metals markets like gold and silver. So to find out what’s
happening from the man who forecast it over a year in advance, click to
watch the interview now!
Posted by AGORACOM-JC
at 12:18 PM on Friday, February 14th, 2020
SPONSOR: New Age Metals Inc.
The company owns one of North America’s largest primary platinum
group metals deposit in Sudbury, Canada. Updated NI 43-101 Mineral
Resource Estimate 2,867,000 PdEq Measured and Indicated Ounces, with an
additional 1,059,000 PdEq Ounces Inferred. Learn More.
Don’t expect a U-turn in palladium’s epic rally
The silver-white metal, used to remove toxic emissions from the exhaust fumes of petrol and hybrid cars, has surged more than 200 per cent over the past five years and last month hit a record of more than $2,500 an ounce
Correlation may not be proof of causation but it is difficult to see
any other explanation for London’s catalytic-converter crime wave than
the record-breaking rally in palladium prices. The silver-white metal,
used to remove toxic emissions from the exhaust fumes of petrol and
hybrid cars, has surged more than 200 per cent over the past five years
and last month hit a record of more than $2,500 an ounce. At the same
time, thefts of catalytic converters in the UK capital jumped — from 867
in 2015 to 8,248 in 2019, according to the Metropolitan Police.
The force has urged car owners to be vigilant and consider buying
protective sleeves for their catalytic converters. After nearly a decade
of undersupply, the world is now critically short of palladium and its
sister metal rhodium. In part, this reflects sluggish supply. Production
of these metals is constrained because they are mined as a byproduct of
platinum and nickel — commodities where new projects have been few and
far between.
At the same time, demand is booming. Tougher emissions legislation
and stricter vehicle-testing regimes in the wake of Germany’s
“Dieselgate†scandal saw the automotive industry buy a record 9.7m
ounces of palladium last year, according to Johnson Matthey, a producer
of catalysts. That is why industry executives say talk of a palladium
bubble is misplaced. “I don’t want to mention a name but there has been a
senior car company that has experienced a real shortage in rhodium,â€
Neal Froneman, chief executive of producer Sibanye-Stillwater, told the
Financial Times last week. “You can’t run deficits and consume surface
stockpiles and inventories for ever and a day.
At some point that turns into a real shortage. And that’s what
happened in rhodium and I dare say it could happen in palladium.â€
Johnson Matthey reckons demand outstripped supply by 1m ounces last year
and says a further rise in automotive demand will push the 11.5m
ounce-a-year palladium market deeper into deficit. While a
coronavirus-induced slowdown in the Chinese car sector could reduce the
size of the shortfall, most analysts expect the market to remain
undersupplied. Standard Chartered estimates China’s car production would
have to plummet 28 per cent before the market deficit is eroded by
declining demand. Assuming that does not happen, prices look set to push
higher unless there is a sudden mobilisation of stockpiles. These
include a stash of the metal owned by Russian miner Norilsk Nickel.
It was purchased from the country’s central bank many years ago and
Johnson Matthey reckons 1m ounces there might be available, but no one
is really sure. For nervous car owners, a protective device for their
catalytic converters still looks like a sound investment.
