In short

Net Present Value:

$760 M

65% ownership, $12,000/tonne pricing

Resource Estimate:

0 Mt

14.7* Mt LCE

LCE, Measured & Indicated (*Inferred, 80% ownership)

Stage:

PEA

PEA completed 2021

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Lithium project:

Bonnie Claire

Nevada, USA

Project Summary

Net Present Value

$760 M

65% ownership, $12,000/tonne pricing

Resource Estimate

0 Mt

14.7 Mt*

LCE, Measured & Indicated (*Inferred 80% ownership)

Completed Stage:

PEA

Preliminary Economic Assessment, Completed

Location: Nevada, USA
Completed Stage: PEA
Next Stage: PFS
Deposit type: Sedimentary

Website: iconicminerals.com

Company description

Iconic has several quality Lithium and Gold exploration projects in Nevada, USA. The Bonnie Claire Sarcobatus Valley Lithium property encompasses 1,155 claims covering over 21.72 square miles (56.25 sq. / kms) or 13,900 acres.. Assays of the cuttings from the recently drilled first hole resulted in the discovery of Lithium enriched sediments averaging 1,153 PPM over 1,560 feet (475 meters). Initial leaching tests applying dilute acid to the drill cuttings resulted in recoveries as high as 98%. Iconic has two other highly prospective Lithium exploration properties also located in Nevada.

Key takeaways:

1. Huge resource

One of the largest lithium resources in North America

2. 50% Option Agreement with Nevada Lithium Corp

In December 2020, ICM announced an option agreement with Nevada Lithium Corp (NLC), entitling NLC to 50% of the Bonnie Claire asset by funding US$5.6 M in cumulative exploration expenditures on the property in three different phases.

Resources & Reserves

Resources

Reserves

Project Economics

Initial capital costs

$654 M

After-tax IRR

20.9%

$12,000/tonne LCE pricing

Operating Cost

$6057/t

Ownership

65%*

Of the Bonnie Claire project. *Option agreement w/ NLC

Company financials

Debt

$4.8 M CAD

May 20, 2020

Cash & Cash eq

$1.2 M CAD

May 20, 2020
includes Assets up for sale

 

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