Iconic Completes Updated 43-101 Technical Reports on Smith Creek and Grass Valley Lithium Brine Projects
Original announcement by tmx on
- Company
- Iconic Minerals Ltd.
- Ticker
- ICM
- Exchange
- TSX
- Region
- Nevada
- Primary commodity
- Lithium
- Secondary commodities
- Boron
- Document categories
- Resource update, Other, Drill results
- Extracted
- 2026-09-12 07:36:13 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Iconic Minerals has completed updated NI 43-101 technical reports for its Smith Creek and Grass Valley lithium brine projects in Nevada. The reports include geophysical survey results indicating potential brine horizons, though drilling has not yet intercepted these deeper zones.
Reasoning: The announcement is primarily a corporate update regarding the completion of technical reports. While it mentions upcoming resource estimates and geophysical targets, it does not provide new assay results or a new resource estimate in this document.
Positive factors
- completion of updated NI 43-101 technical reports
- anomalous lithium surface sampling at both projects
- geophysical MT survey identifying low resistivity zones
Negative factors
- drilling to date has not reached interpreted brine zones
- one drill hole terminated prematurely due to weather/ground conditions
Facts used in scoring: 5
Classification and evidence
QA/QC Disclosedpositive · Story-specific tag
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: The release names a Qualified Professional (R. A. Lunceford) and a Qualified Person (Richard Kern) who reviewed the technical information.
Evidence · text
“written by R. A. Lunceford, MSc., CPG, a Qualified Professional”
Extracted facts
Stored fact records: 5. Some facts used in scoring do not have a stored record.
Drill Results (1)
Great Basin drill testIntercept: 574 mHistorical resultNeeds review: ungroundedView all detailsHide details
Identity
- Hole ID
- Great Basin drill test
- Region
- usa_nv
- Reported Region
- usa_nv
- Ticker
- ICM
Geometry
- Intercept
- 574 m
- From
- 0 m
- To
- 574 m
- Hole Depth
- 574 m
- Intercept Depth
- 0 m
Classification
- Sample Type
- drill
- Group ID
- Great Basin drill test:0-574
Location
- Location
- Grass Valley
- Loc. Source
- document
QA/QC
- QP Signed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- ungrounded
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2022-01-01T00:00:00.000Z
Dates
- Event date
- 2024-01-17T00:00:00.000Z
Reasoning: A drill hole at Grass Valley was unable to reach its planned depth.
Negative factors
- hole terminated prematurely due to weather and ground conditions
Evidence · text
“terminated at 1,888 ft (574 m)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Resource Estimates (4)
Fact 1lithiumGrade: 470Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada
- Ticker
- ICM
Resource Data
- Grade
- 470
- Grade Unit
- ppm
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2015-01-01T00:00:00.000Z
Dates
- Event date
- 2024-01-17T00:00:00.000Z
Reasoning: Historical surface sampling result mentioned in the context of the technical report.
Positive factors
- strongly anomalous lithium values
Evidence · text
“reached 470 PPM Li”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 9.0 years before this release
Fact 2lithiumGrade: 310Grade Unit: ppmHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada
- Ticker
- ICM
Resource Data
- Grade
- 310
- Grade Unit
- ppm
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-10-19T00:00:00.000Z
Dates
- Event date
- 2024-01-17T00:00:00.000Z
Reasoning: Surface sampling result mentioned in the context of the technical report.
Positive factors
- significantly anomalous lithium values
Evidence · text
“up to 310 ppm Li”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Fact 3lithiumHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- lithium
- Region
- usa_nv
- Reported Region
- Nevada
- Ticker
- ICM
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2022-01-01T00:00:00.000Z
Dates
- Event date
- 2024-01-17T00:00:00.000Z
Reasoning: Water samples from the terminated hole showed low concentrations.
Negative factors
- lithium values were below ore grade
Evidence · text
“minor Li and B values”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.0 years before this release
Fact 4boronHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- boron
- Region
- usa_nv
- Reported Region
- Nevada
- Ticker
- ICM
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2022-01-01T00:00:00.000Z
Dates
- Event date
- 2024-01-17T00:00:00.000Z
Reasoning: Water samples from the terminated hole showed trace boron.
Evidence · text
“minor ... B values”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 2.0 years before this release
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.