VANCOUVER, BC / ACCESSWIRE / October 12, 2021 / Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) is pleased to provide an update on its exploration and corporate activities. The Company recently mobilized a ground crew to sample target areas on its Jackpot lithium project. The areas of interest were generated from a recent high resolution geophysical survey completed on the Jackpot property. The survey, conducted by Novatem Airborne Geophysics, identified several east-west trending anomalies that reflect structures like that of the Jackpot lithium deposit itself.
The ground crew sampled spodumene bearing pegmatites more than 300 m north-east of the 2018 drilling area. The pegmatites were observed over a strike length of approximately 900 m and appear to continue under cover to the north-east and under a small lake to the south-west. Infinite Ore is designing a drill program to test extensions of the Jackpot lithium deposit.
J.C. St-Amour, President of Infinite Ore commented, "I am very pleased that we have identified pegmatite dykes outside the known Jackpot historical deposit area. These dykes appear to have extensive strike length and represent excellent targets for follow up exploration."
St- Amour continued, "Our ground crew also investigated and sampled other areas on the property where additional pegmatite dykes were identified and need further investigation. Pegmatite dykes tend to occur in swarms and given the area has a thick overburden there is excellent potential to discover numerous other mineralized pegmatites, leading to additional drill targets. Our goal is to get aggressive on exploring the Jackpot project and to identify the lithium potential on this highly prospective package."
The Company's 100% owned Jackpot project is near the Georgia Lake lithium deposit, for which Rock Tech Lithium Inc. recently announced its intent to develop a lithium sulphate production facility located in Thunder Bay, Ontario. The Jackpot property contains known pegmatite showings, including two that contain historical resources of 2 million tons at 1.09% Li2O and 750,000 tons at 1.38% Li2O*.
Figure 1: Geophysical map of the Jackpot project.
Sale of Eastern Vision
On the corporate front, the Company is pleased to report that the sale of the Eastern Vision project to Trillium Gold Mines Inc. is progressing. The parties are working towards getting all necessary approvals for the sale with an anticipated closing in November 2021. Upon closing, the Company will receive 4,000,000 common shares of Trillium and a cash payment of $175,000.
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 estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of the NI-43-101 Instrument such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company as not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
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.