VANCOUVER, BC / ACCESSWIRE / December 08, 2020 / Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) announces it is reviewing technical data and evaluating options to increase the potential of the Company's 100% owned Jackpot Lithium project located in the Georgia Lake Area, Thunder Bay Mining Division, Ontario. Jackpot is situated about 42 km north-northeast of Nipigon and approximately 105 km east-northeast of the Great Lakes port City of Thunder Bay, Ontario. It is adjacent to the Georgia Lake lithium deposit, for which Rock Tech Lithium Inc. recently announced a letter of intent with Avalon Advanced Materials Inc. to collaborate on the development of a lithium sulphate production facility located in Thunder Bay, Ontario.
JC St-Amour, President of Infinite Ore, commented: "In light of recent developments with respect to plans for a nearby production facility and the resurgence of the lithium market we are fortunate to have in our portfolio a quality lithium project that contains both historical resources and known untested lithium showings. Jackpot's proximity to existing infrastructure including roads, ports, electricity, and skilled workforce bodes very well for the future economics of this project."
The Company is currently developing a 3D model evaluating past drilling and surface channel sampling to identify areas for expansion including the identification of other mineralized spodumene dykes on the property which have yet to see a drill hole. Once data compilation is complete, Infinite Ore will determine next steps for the property development. JC St-Amour offers a quick review of the model and the work completed to date on the Jackpot project in this video. https://youtu.be/qtMc6R7M7Pk
Highlights from past drilling included (see PRs dated April 18, 2018 and Dec 13, 2018):
- J-18-04: 7.23m at 2.47% Li2O including 2.00m of 4.48%
- J-18-06: 7.00m at 1.60% Li2O, including 3.00m of 2.30% Li2O
- J-18-12: 9.00m at 1.34% Li2O, including 1.00m of 2.36% Li2O and 1.00m of 2.39% Li2O
- J-18-13: 5.00m of 3.02% Li2O, including 1.00m of 5.11% Li2O
- JS-18-01A: 19.80m at 1.27% Li2O including 7.00m of 1.63% Li2O
- JS-18-01B: 14.60m at 1.05% Li2O including 4.00m of 2.09% Li2O
- JS-18-02A: 17.20m at 1.24% Li2O including 5.00m of 2.09% Li2O
- JS-18-02B: 13.05m at 1.25% Li2O including 2.00m of 2.63% Li2O
- J-18-52: 22.45m at 1.27% Li2O including 7.00m of 2.27% Li2O
Infinite completed 53 drill holes (9,496 metres) in its long-hole program and eight (8) drill holes (298 metres) from its short-hole program in 2018. The long-hole program was aimed at surface, near-surface, and deeper spodumene (lithium) bearing pegmatites of the Main Zone Dike whereas the short-hole program was focused exclusively on delineating surface and near-surface spodumene-rich LCT pegmatites. The property also contains known pegmatite dyke showings that are untested for lithium and has the potential to contain additional dykes under ground cover.
In addition, the Company completed a total of 26 channel samples from spodumene-bearing pegmatite outcrops over nine cleared areas, comprising 372 individual channel samples (355.40 metres). Channel samples results with high lithium content included (see press release dated November 22, 2018):
- A1-CH3: 8.50m of 1.14% Li2O, including 3.00m of 1.63% Li2O
- A3-CH3: 10.50m of 1.88% Li2O, including 9.00m of 2.19% Li2O
- A3-CH5: 10.30m of 1.39% Li2O, including 4.00m 1.75% Li2O
- A4-CH1: 65.10m of 1.10% Li2O, including 10.00m of 1.87% Li2O
- A4-CH3: 21.00m of 1.40% Li2O, including 5.00m of 1.91% Li2O
- A6-CH1: 7.70m of 2.42% Li2O, including 3.00m of 4.11% Li2O
- A6-CH2: 9.40m of 1.30% Li2O, including 5.40m of 1.89% Li2O
- A11-CH1 34.30m of 1.45% Li2O, including 6.00m of 2.00% Li2O
Finally, the Company also wishes to announce that it has granted 4,900,000 options to certain officers, directors, and consultants of the Company pursuant to its stock option plan. The options are exercisable for a period of 2 years from the date of grant at a price of $0.06 per option.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P. geo an Independent Qualified Person as defined by the National Instrument 43-101. The Property has not been the subject of a National Instrument 43-101 Technical Report.
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"
J.C. St-Amour, President
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.