VANCOUVER, BC / ACCESSWIRE / November 26, 2020 / Infinite Ore Corp. (the "Company") (ILI-TSX:V) (OTCQB:ARXRF) is pleased to announce that it will conduct a VTEM Plus geophysical survey on its Eastern Vision project located in the Red Lake, Ontario Gold Belt. Eastern Vision covers large parts of the Birch-Uchi greenstone belt to the east of the high-grade gold discovery on the Dixie property held by Great Bear Resources Ltd. Results from the VTEM survey as well as the recently announced Spacio-temperal Geochemical Hydrocarbon ("SGH") survey (see PR dated November 3, 2020) will be used to identify additional targets for an upcoming drill program.
VTEM (Versatile Time Domain Electromagnetic) is a system which generates currents that diffuse deep into the earth and take the path of least resistance. Conductive material absorbs the currents and releases a secondary field that the VTEM system measures. The Brich-Uchi greenstone belt has yielded both gold mineralization (e.g. Dixie property) as well as VMS style mineralization (e.g. Garnet Lake deposit). The Company plans to search for both gold mineralisation and other VMS deposits that may exist in the area.
J.C St-Amour, President of Infinite Ore commented, "The Birch-Uchi greenstone belt has been historically explored for base metals, however new high-grade gold discoveries in the area have demonstrated the potential for more gold discoveries. The VTEM and SGH survey's will assist us in developing our next drill program."
In addition, the Company announces that it intends to extend and reprice 39,000,000 warrants (the "Warrants") that were issued in pursuant to private placements that closed on December 22, 2017. The Warrants have an exercise price of $0.20 and are due to expire on December 22, 2020. The Company intends to amend these warrants to have an exercise price of $0.16 per Warrant and extend to expiry date to December 22, 2022. The extension and repricing are subject to TSX Venture Exchange approval.
The Company further announces that a NI 43-101 geological report on the Garnet Lake property has been completed and, as required by the TSX.V regulators, has been submitted for review.
Dr. Michel Bolly, P. Geo, is the qualified person as defined by National Instrument 43-101 has designed and is managing the current exploration program on behalf of the Company and is responsible for approving the technical contents of this press release.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company is earning into a large land package with the potential for VMS and gold mineralization in the Confederation Lake assemblage belt near Red Lake, Ont. The company also holds the Jackpot lithium property located near Nipigon, Ont.
ON BEHALF OF THE BOARD
J.C. St-Amour, President
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FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Infinite Ore Corp.