Iconic Minerals Ltd. announced it has completed a new Magnetotellurics survey at its Smith Creek Project in Lander County, Nevada. The 7 lines, interpreted by Fritz Geophysics, revealed a low resistivity zone roughly 1000 feet (305 meters) below surface that may indicate a brine system or salty sediments. This was the target of the MT survey, and the spatial definition of this large, low resistivity layer is now much better understood.

In several MT sections, such as the one below, the lower resistivity target is interpreted to be at least 700 feet (213 meters) thick. The Smith Creek Basin has a large area underlain by what geophysicist calls brine. Additional work to further define and rank drill targets is planned before drill testing.

This work should define high angle faults and permeable horizons capable of hosting lithium-rich fluids or sediments. In response to the encouraging results of the MT survey, the claim block at Smith Creek has been expanded from 566 claims to 818, and now covers an area of roughly 26 square miles (67 square kilometers). While the new MT lines have enhanced understanding of the low resistivity zones extents and properties, additional MT, along with other geophysical methods including active or passive seismic, are being evaluated to better define the target.