Bonnie Claire Property
Bonnie Claire is a 100% owned lithium brine property comprising of 23,100 acres of contiguous placer claims, currently in control of 28.75 square miles (75 km2) located in Nye County, Nevada. The property area is contained within a valley that is 60kms from the only producing lithium mine in North America (Albermarle Silver Peak Mine). Bonnie Claire's valley is over +20 miles (+30 km) long and 12 miles (20 km) wide into which streams from an +800 mi2 (2,070 km2) drainage basin empty. The source rocks are quartz-rich volcanics that contain anomalous amounts of lithium.
Smith Valley Creek Property
Iconic controls 808 placer claims totaling 25.25 square miles (65.4 km2) over a major gravity low. The enclosed Smith Creek Valley Basin covers 582 square miles (1,507 km2), which is slightly larger than Clayton Valley Basin where lithium brines are produced. Smith Creek Valley is over +40 miles (+64 km) long in a north-northeast direction and averages 9 miles (14.5 km) in width. The vast majority of rock weathering into the basin is felsic ash flow tuff, which is an excellent source of lithium. The Smith Creek basin itself is composed of alluvium surrounding a mud flat, a remnant of a paleo-lake.
Third Nevada Lithium Property
Iconic's third lithium property, currently referred to as "Property B", is a lithium brine target, and is located within a valley that is over 34 miles (55 km) long and averages 7 miles (11 km) wide into which streams from a 595 mi2 (1,541 km2) drainage basin empty. The source rocks are also quartz-rich volcanics that contain anomalous amounts of lithium. Sampling of salt deposits in the basin found lithium values ranging from 60 to 510 ppm. The highest lithium value of samples taken, being 510 ppm, was taken down-slope from active thermal hot springs. A gravity low within the valley is over 10 miles (16 km) long. The current claim block covers the gravity low.