nowwhat2
3 years ago
J.C. St-Amour, President of Infinite Ore, commented, "The Proposed Transaction will give Infinite exposure to a larger consolidated land package extending greater than 100 km in length in the Red Lake area as well as allow us to focus our exploration efforts on our 100% owned Jackpot Lithium project, located near Thunder Bay, Ontario. This project is proximal to Rock Tech Lithium's Georgia Lake lithium project. Rock Tech's intention to build a lithium processing facility in the area considerably changes the dynamics of the Jackpot project. That, coupled with the renewed market interest and growing demand for lithium, has compelled us to redouble our exploration on Jackpot. Keeping our capital structure in mind, today's proposed transaction would allow us to explore the potential of Jackpot without further shareholder dilution and still enable us to participate in the upside of Trillium's work in the Red Lake Mining District."
Our Sam Dan here is THE man ! https://investorshub.advfn.com/boards/read_msg.aspx?message_id=164979929
Anyways, SOMETHING appears to be going on here - whether it's Ganfeng or Rock Tech or who knows whatever....
I guess one could/should do some digging....
Like, what caused that flurry of interest in January ???
TradingCharts
3 years ago
INFINITE ORE STARTS EXPLORATION ON JACKPOT LITHIUM PROJECT AND PROVIDES CORPORATE UPDATE
INFINITE ORE STARTS EXPLORATION ON JACKPOT LITHIUM PROJECT AND PROVIDES CORPORATE UPDATE
October 12th, 2021 Vancouver, BC, Canada – Infinite Ore Corp. (the “Company”) (ILI-TSX: V) (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*.
https://www.infiniteore.com/20211012-infinite-ore-starts-exploration-on-jackpot-lithium-project-and-provides-corporate-update
Sam Dan
3 years ago
Finally news from management of drilling to begin on Jackpot
(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, includtons at 1.38% Li2O*.ing two that contain historical resources of 2 million tons at 1.09% Li2O and 750,000 tons at 1.38% Li2O*..
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.
Sam Dan
3 years ago
Management, now that they have previously stated Lithium is their main interest reveals why.
"Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) is pleased to announce it has identified several new targets of interest from a high resolution geophysical survey on the Jackpot lithium property. The survey, conducted by Novatem Airborne Geophysics, identified several east-west trending structural features oriented parallel to several lithium-rich pegmatite dykes within the Jackpot lithium deposit itself. The Company will mobilize a ground crew to site as soon as possible to investigate these structures with overburden stripping and rock and channel sampling.
J.C. St-Amour, President of Infinite Ore commented, "The resolution of this survey is of better quality than we have previously seen on the property. Therefore, we were able to immediately identify multiple a reas of interest for boots on the ground follow up this summer. These lithium bearing dykes tend to come in swarms and bear a strong resemblance to the Jackpot lithium deposit, which we know is mineralized. I am very excited to get the crew in the field to explore these targets. The goal is to identify and properly explore multiple lithium-bearing-granitic dykes to build a sizeable lithium resource on the property. The lithium market remains very robust, and the Jackpot lithium property is well located, as we are surrounded by other explorers which have made significant lithium discoveries. This property is our focus and we are keen to discover its full potential."
The Company's 100% owned Jackpot project is located in close proximity to the Georgia Lake lithium deposit, for which Rock Tech Lithium Inc. recently announced its intent to develop a lithium sulphate production facility 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*."
Sam Dan
3 years ago
Management makes major decision to divest controlling interest
in part of Red Lake holdings and concentrate on Jackpot Lithium play. Smart move.
"Infinite") (TSXV:ILI)(OTCQB:ARXRF) announced today that it has entered into a non-binding Letter of Intent ("LOI") with Trillium Gold Mines Inc. (TSXV:TGM) ("Trillium") whereby Trillium will acquire, subject to certain terms and conditions, all of Infinite's property holdings known as the Eastern Vision Project located in the Confederation Lake assemblage of the Birch-Uchi greenstone belt near Red Lake, Ontario (the "Proposed Transaction").
Under the Proposed Transaction upon signing of a definitive agreement Trillium would issue 4,000,000 common shares of Trillium and pay $175,000 in cash to Infinite. In addition, Trillium would assume all of Infinite's cash paymen t commitments under its existing option agreements. Infinite would retain its share issuance obligations. The Eastern Vision project covers 19,438 hectares between the Fredart, Garnet Lake, Confederation North, and Confederation South properties.
J.C. St-Amour, President of Infinite Ore, commented, "The Proposed Transaction will give Infinite exposure to a larger consolidated land package extending greater than 100 km in length in the Red Lake area as well as allow us to focus our exploration efforts on our 100% owned Jackpot Lithium project, located near Thunder Bay, Ontario. This project is proximal to Rock Tech Lithium's Georgia Lake lithium project. Rock Tech's intention to build a lithium processing facility in the area considerably changes the dynamics of the Jackpot project. That, coupled with the renewed market interest and growing demand for lithium, has compelled us to redouble our exploration on Jackpot. Keeping our capital structure in mind, today's proposed transaction would allow us to explore the potential of Jackpot without further shareholder dilution and still enable us to participate in the upside of Trillium's work in the Red Lake Mining District."
The Jackpot Lithium property, located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario, is situated approximately 12 km by air from the TransCanada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior. The property contains known lithium bearing pegmatite showings, including two that contain historical resources of 2 million tons at 1.09% Li2O and 750,000 tons at 1.38% Li2O*. The Company recently completed a magnetic survey on Jackpot to identify structures on the property that would assist in locating high priority lithium targets for future drilling to add to the existing historical resources.
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."
Sam Dan
4 years ago
Finally, some news re drilling resuits. Some encouraging areas noted.
" Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) is pleased to announce results from a VTEM Plus geophysical survey completed this past winter on the western portion of its Eastern Vision project located in Red Lake, Ontario. Results from the VTEM survey are summarized in the two geophysical contour maps shown below (Figures 1 and 2). The magnetic map highlights several contrasting bands of high and low values some of them marking the contact horizon were Volcanic Massive Sulphide (VMS) mineralization occurred, whereas the electromagnetic contour map singles out most of the small conductive VMS bodies and indicate new potential conductive anomalous zones that warrant follow-up investigation. Such areas include a large anomaly located in the North West of the Confederation North property as well as a very large anomaly on the eastern portion of the Confederation South property. In addition, the Company reports that its drilling program is nearing completion and is awaiting results. Drilling to date on the Confederation North property has intercepted some areas of massive sulphide mineralization as well as a significant mineralized fault zone.
J.C.St-Amour, President of Infinite Ore commented, "The VTEM survey has given us some interesting targets for follow-up. We have flown a high-resolution mag survey over the large anomaly on Confederation North and are awaiting results. We are planning a ground prospecting program over the very large anomaly on Confederation South, an area that has seen little exploration, to better understand its source. In addition, there are a number of smaller anomalies that are prospective for VMS style mineralization that deserves additional exploration work."
Sam Dan
4 years ago
MANAGEMENT ANNOUNCE START OF FURTHER EXPLORATION OF JACKPOT LITHIUM HOLDING, PRIOR TO DRILLING LOCATION SELECTION.
March 24, 2021 / Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) is pleased to announce that it has commenced a magnetic survey on the Jackpot Lithium project. Novatem Airborne Geophysics is on site and flying the survey this week with results expected in the coming weeks. The goal of the survey is to identify structures on the property that would assist in locating high priority lithium targets for future drilling in order to add to the existing historical resources. The 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*. In addition, Infinite is pleased to be attending the Mines and Money Online Connect conference this week. The company will be meeting with various institutional and private investors.
J.C. St-Amour, President of Infinite Ore commented, "This high-resolution mag survey, flying at a 25m line spacing, is expected to assist us in identifying additional pegmatite dikes, focusing our exploration efforts on high priority targets within our large land package. This survey will provide valuable data that adds immediate value to the property and is money well spent in advance of additional exploration."
The Company's 100% owned Jackpot project is located in close proximity to 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.
Sam Dan
4 years ago
ENCOURAGING NEWS TODAY FROM MANAGEMENT. WE CAN LOOK FORWARD TO starting OF DRILLING IN MAJOR HOLDINGS IN RED LAKE AREA WHERE THE COMPANY HAS MAJOR HOLDINGS THAT HOPEFULLY WILL PROVE SIGNIFICANT MINERAL ASSETTS.
PLUS COMPLETION OF ADDED LITHIUM HOLDINGS IN THE JACKPOT AREA TO INCREASE LITHIUM TOTALS.
"Infinite Ore Corp. (the "Company") (TSXV:ILI is pleased to announce it has completed the acquisition of four additional lithium claims in Ontario having a historic resource of 750,000 tons yielding 1.38% Li2O* which is in addition to the historical resource of 2 million tons at 1.09% Li2O* currently present on the Jackpot property (see press release announcing acquisition January 18, 2021). The new claims are contiguous to, and located within, the Company's Jackpot Property. In addition, the Company is pleased to announce that it is planning a 2,500 meter drill program on the Confederation North property within its Eastern Vision Project claim holdings located east of Red Lake Ontario. The program will test gold, copper, and silver anomalies from its recent Spaciotemporal Geochemical Hydrocarbon ("SGH") survey conducted on the Confederation North property (see Figure 1). The drill program is expected to begin in early March.J.C. St-Amour, President of Infinite Ore commented, "The shareholders of Infinite Ore are in a somewhat unique position with exposure to two exceptional land packages in Ontario targeting gold, base metals and lithium. I am very pleased to have secured a drill and crew to begin drilling the Red Lake Eastern Vision properties. Using our soil samples as well as geophysics, our technical team has identified multiple high priority targets. Access to the property and logistics are very good and so I anticipate getting good value for our drilling dollars. I am also pleased to report that we closed our transaction to acquire more land near our Jackpot Lithium property. The Jackpot property is in a highly sought-after location given that our neighbour, Rock Tech Lithium, intends to construct a lithium processing facility in the area. More to come from us on both the Eastern Vision gold and base metals property and the Jackpot lithium project."Figure 1: Map of SGH anomalies and planned drill holes of the Confederation North property, Eastern Vision Project.The Company is earning into the Eastern Vision Project which consists of the Fredart, Garnet Lake, Confederation North, and Confederation South properties. Past exploration has focused on VMS targets within the Confederation Lake assemblage near Red Lake, Ontario. The Garnet Lake properties hold 43-101-compliant inferred mineral resources of 2.1 million tonnes grading 5.78% Zn, 0.72% Cu, 19.5 g/t Ag, and 0.6 g/t Au. The Fredart property contains an historical resource of 386,200 tonnes grading 1.56% Cu and 33.6 g/t Ag*.Qualified PersonThe 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."
Sam Dan
4 years ago
fURTHER UPDATE ON LITHIUM HOLDINGS BY ILI. HOPEFULLY, DRILLING WILL COMMENCE SOON TO PROVE THE TRUE VALUE.
" Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) is pleased to announce drill results from a previous drill program completed on its 100% owned Jackpot Lithium Project in Ontario. While conducting a detailed review of the work completed on its Jackpot Lithium project the Company discovered multiple previously unreported holes intersecting greater than 1% Li2O These include holes that were part of a short hole program to test the near surface lithium content of dykes situated at the core of the mineralized zone. The short holes were drilled to an average depth of approximately 10 m, ranging from 6m to 17m. Five other long holes are reported that were collared at the periphery of the core zone, returned substantial lithium mineralization, and extend the dyke swarm to the north and south.Highlighted of the short drill holes include:HoleFrom(m)To(m)Interval(m)Li2O %JS-18-060.005.005.001.13JS-18-080.009.009.001.02JS-18-091.003.003.001.35JS-18-100.003.003.001.10JS-18-110.005.005.001.09JS-18-140.308.007.701.60Highlights of the long drill holes collared in 2018:HoleFrom(m)To(m)Interval(m)Li2O %J-18-27163.00169.006.001.14J-18-4048.9059.9011.000.83incl49.2557.007.751.12J-18-43143.00149.106.101.06J-18-5024.2535.8011.5500.77incl26.0034.008.001.10incl26.0031.005.001.39J-18-5131.0037.006.001.01The results demonstrate that Jackpot consists of a swarm of parallel lithium baring east-west trending dykes and that the mineralized zone is open in all directions (see Figure 1).Figure 1: Location of drillholes at the Jackpot Lithium project.J.C. St-Amour, President of Infinite Ore commented, "The Jackpot property hosts a swarm of lithium-bearing dykes some of which are exposed at surface. The 2018 drilling program tested the near surface lithium content of known dykes as well as expanded the extent of the known mineralization. There are many yet untested dykes on the property which would warrant follow-up work. Certainly, these drill results increase our confidence that the Jackpot lithium deposit contains greater lithium resources to that cited in the historical resources."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 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*.Qualified PersonThe 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."
Sam Dan
4 years ago
MANAGEMENT IS PROVING SUCCESSFUL in obtaining rights to significant lithium deposits in Northern Ontario. while drilling must be completed
to confirm 43-101 compliance, work already performed has been encouraging.
"Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) is pleased to announce the acquisition of four additional lithium claims in Ontario having a historic resource of 750,000 tons yielding 1.38% Li2O*. This is in addition to the historical resource of 2 million tons at 1.09% Li2O* currently present on the Jackpot property. The new claims are contiguous to, and located within, the Company's Jackpot Property (see Figure 1). The claims contain the Newkirk-Vegan lithium showing that was discovered through exploration in the 1950's. Drilling at the time traced the Newkirk dike for 609 meters with an average thickness of 5 m.Figure 1: Location of acquired claims shown in yellow.J.C. St-Amour, President of Infinite Ore commented, "This property acquisition adds to our existing historical resources of 2,000,000 tons grading 1.09% Li2O*. We are pleased to be able to provide our shareholders exposure to lithium, gold and base metals exploration through our Jackpot and Eastern Vision properties."The Company's 100% owned Jackpot Lithium project is located in close proximity to 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.Infinite Ore acquired the claims through payments to an arms-length party of $10,000 cash and 300,000 common shares. The vendor retains a royalty of 1.0% on revenue generated from non-smelter elements from the Jackpot Claims and a 1.0% NSR. This may be purchased at any time for $500,000.00.Qualified PersonThe 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, "
Sam Dan
4 years ago
MANAGEMENT COMPLETES EXPANSION RE LITHIUM AND ACQUISITIONS RE GOLD,MINERALS. The start of exploration and drilling in these areas should begin very soon.
" Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) is pleased to announce that it has added to its Jackpot Lithium project holdings through the acquisition of a 100% interest in 9 claims. The claims are contiguous to and located within the Company's Jackpot Property (see Figure 1). The Company's 100% owned Jackpot Lithium project is located in close proximity to 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
J.C. St-Amour, President of Infinite Ore commented, "This property acquisition enhances our land position in a burgeoning lithium camp. We are pleased to be able to provide our shareholders with exposure to lithium, gold and base metals exploration through our Jackpot and Eastern Vision properties."
The acquired claims are known to contain lithium showings based on historical work, including the M.N.W. dyke*. The claims contain lithium showings based on historical work including a pegmatite dyke that ranges in thickness up to 14 m and has been traced intermittently for 427 m. The core of the dyke was sampled in 1956 and was found to average 1.5% Li2O over a 122 m strike having widths up to 9 m.
Infinite Ore acquired the claims through payments to an arms-length party of $10,000 cash and 300,000 common shares. The vendor retains a royalty of 1.0% on revenue generated from non-smelter elements from the Jackpot Claims and a 1.0% NSR. This may be purchased at any time for $500,000.00.
Closing of Eastern Vision Claim Acquisition
The Company is also pleased to announce that, further to its press release of January 6, 2021, the company has closed the acquisition of 100% in 7 minerals claims located within its Eastern Vision project. Infinite Ore acquired the claims through payments to an arms-length party of $7,500 cash and 100,000 common shares. The vendor retains a 1.5% Net Smelter Royalty which can be bought back for $1.5 million at any time.
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.
*Reference: Pye, E.G. (1965) Geology and Lithium Deposits of Georgia Lake Area, p. 84.
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."
.
Sam Dan
4 years ago
MANAGEMENT OF ILI HAVE CHOSEN THE CONFEDERATION NORTH AREA OF RED LAKE AS A MAJOR AREA TO EXPLORE FOR GOLD, SILVER AND COPPER.
The major exploration will begin in the coming months. This will be a critically important project for the future of the company.
As always wait for the assays of the drilling to be confident as to the values. Visuals can be deceiving. Keep everything crossed in hopes of success.
"Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) is pleased to announce that it has identified multiple potential gold, copper and silver anomalies from its Spaciotemporal Geochemical Hydrocarbon ("SGH") survey conducted on a portion of its Confederation North property. SGH surveys have been used successfully in the Red Lake area to locate gold anomalies under till cover, most notably by Great Bear Resources Ltd. at the LP Fault, Dixie Limb, and Hinge zones on their Dixie property.
Results from the 443-sample survey indicate the covered area contains at least two gold anomalies accompanied by copper and silver anomalies that are potential targets for drilling (see Figures 1 to 4). The anomalies are located immediately to the north of gold showings and SGH gold anomalies reported by Portofino Resources Inc. Actlabs, who analyzed the survey, describes the SGH survey as a procedure that provides a highly focused and sensitive method which measures organic compounds in the C5-C17 range in concentrations down to the low parts-per-trillion (ppt) onto near surface samples, in this case tills. The analysis can detect signatures associated with the presence of buried mineralized bodies such as orogenic gold and VMS.
JC St-Amour, President of Infinite Ore, commented: "We are pleased that the results of the SGH survey has provided gold, silver and copper anomalies that may constitute drill targets. The presence of gold anomalies detected by a SGH survey conducted by Portofino Resources and tied to significant gold values in bedrock showings increase our confidence in the current survey. Infinite Ore plans on using the results of both the SGH survey and the new VTEM survey to identify major structures on the property and to add targets to our drill program scheduled to begin in the coming weeks.
The company's VTEM survey on its red Lake properties has resumed and is approximately 40% complete, with results expected in late January. More information will be released in the coming weeks."
Sam Dan
4 years ago
INTERESTING REPORT BY PEGASUS GIVES ILI SHAREHOLDERS SUMMARY OF OUR HOLDINGS IN THE CONFEDERATION AREA.
Pegasus optioned properties to Infinite Ore Corp. (“ILI”)
A.Dixie 17-20 (Dixie 10 Mile)
A VTEM airborne survey is presently underway on this property. A geochemical survey was previously completed and the Company is awaiting assays results.
The properties total 1072 hectares, 35 km southeast of Red Lake and about 18 km from Great Bear Resources.
A mineralized zone on Dixie 17 yielded results up to 7.34 Zn and 1.4% Cu over a core length of 9.5 metres. On Dixie 18, a mineralized zone has been drilled over a core length of 250 metres and to a depth of 150 meters. Dixie 19 zone has been traced over a length of 500 metres, with drill intercepts including 6.33% Zn and 1.5% Cu over a core length of 355 metres.
These properties are 90% optioned to Infinite Ore Corp with the following outstanding payments and work commitment due:
$30,000 cash, 500,000 ILI shares and $550,000 work commitment
B. Garnet Lake
This is a 2733 hectares land package including a substantial mineral deposit and a number of mineralized drill intersections that are in need of follow-up drill testing. Mineralization on the property is all Volcanogenic Massive Sulphides (VMS) type, dominated by zinc, copper and silver with associated gold values. (see NR Oct 10, 2016)
A 2100 line km VTEM PlusTM airborne survey was completed in 2017 detected parallel conductors or extensions of known conductors in lengths of 400, 850, 900 and 950 metres at Fredart Corridor which is within a total strike length of 22km.
This property has an NI43-101 resource of:
3% Zn equiv. cutoff
Indicated Res. 2,071,000 tonnes @ 5.92% Zn, 0.75% Cu, 21.1 g/t Ag and 0.58 g/t Au
Inferred Res 120,550 tonnes @ 2.60% Zn, 0.56% Cu, 18.6 g/t Ag and 0.40 g/t Au
5% Zn equiv. cutoff
Indicated Res. 1,762,000 tonnes @ 6.75% Zn, 0.79% Cu, 22.3 g/t Ag and 0.61 g/t Au
Inferred Res. 51,630 tonnes @ 3.86% Zn, 0.79% Cu, 23.9 g/t Ag and 0.58 g/t Au
10% Zn equiv. cutoff
Indicated Res 633,000 tonnes @ 14.3 Zn, 1.11% Cu, 31.7 g/t Ag and 0.85 g/t Au
This land package is 80% optioned to Infinite Ore Corp with the following outstanding payments and work commitment due:
$225,000 cash, 3,000,000 ILI shares and $1,550,000 work commitment
C. Fredart
The Fredart Property had 124 drill holes completed between 1956 and 2003, totaling 22,500 metres. This deposit has a historical mineral resource of 425,000 tonnes grading 1.56% copper. This historical resource estimate does not comply with the standards of NI 43-101 and has not been reviewed by a Qualified Person. The zone was drill-tested to a depth of approximately 200 metres over a length of 350 metres, and was reported as being open at depth. Only portions of the drill holes were assayed for gold, due to the low price of gold at the time. The area was also explored for molybdenum in the 1970s, and samples containing up to 1.46% Mo were reported.
This property is 80% optioned to Infinite Ore Corp with the following outstanding payments and work commitment due:
$70,000 cash, 1,750,000 ILI shares and $1,000,000 work commitment.
The company changed its name from Pistol Bay Mining Inc. to Pegasus Resources Inc. effective December 23, 2020. Our new symbol is TSX-V-PEGA and CUSIP number is 70558T105.
Sam Dan
4 years ago
Management moving forward on winter exploration plans.
Hopefully will provide some significant results towards gold finds.
Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) is pleased to announce that it has added to its Easter Vision holdings through the acquisition of a 100% interest in 7 claims. The claims are contiguous to and located within the Company's Confederation North Property (see Figure 1). Confederation North is located on the Birch-Uchi greenstone belt approximately 40 km east of the town of Red Lake Ontario and 20 km East of Great Bear Resources Ltd.'s Dixie p
In addition, the Company has completed a Spaciotemporal Geochemical Hydrocarbon ("SGH") survey on a portion of its Confederation North property and a VTEM survey on the property is approximately 38% complete and is expected to resume this week, with results expected in January. The Company plans to incorporate relevant information from both surveys to add gold targets to its VMS targets for the upcoming winter drill program. Results of the analysis will be released in the coming weeks.
Infinite Ore acquired the claims through payments to an arms-length party of $7,000 cash and 100,000 common shares. The vendor retains a 1.5% Net Smelter Royalty which can be bought back for $1.5 million at any time.
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.
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.
Sam Dan
4 years ago
Management finally starting work on their holdings in the Red Lake area. This work will help to determine sites of drilling in the winter program
'Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) is pleased to announce that it is conducting a Spaciotemporal Geochemical Hydrocarbon ("SGH") survey on a portion of its Eastern Vision project. SGH surveys have been used successfully in the Red Lake area to locate bedrock mineralization under glacial till cover. This method has most notably been used by Great Bear Resources Ltd. in identifying gold mineralization at the LP Fault, Dixie Limb, and Hinge zones on their Dixie property.
Infinite is conducting a 443-sample program on a section of its Eastern Vision project, located to the north of Portofino Resources Inc.'s recent gold showings. The samples will be sent to Actlabs for analysis. Actlabs describes the SCH survey as follows: "The SGH procedure provides a highly focused and sensitive method which measures compounds in the C5-C17 range in concentrations down to the low parts-per-trillion (ppt). It is an extractive procedure which releases organic compounds adsorbed onto near surface samples. Actlabs' research and development into the applicability of SGH for exploration has resulted in the availability of a cost-effective technique of prioritizing targets, which can be used in tandem with geophysics to improve your success rate."
J.C St. Amour, President and CEO Of Infinite Ore commented, "This survey has proven successful in a number of cases and a team has been deployed to the field to collect samples. We have a sizable land package, one of the largest in fact in the Red Lake district, and this is one tool that we are using to help us better hone in on the most prospective drill targets for our coming drill program. Follow on exploration programs using other tools are in the planning stage and we will have more to announce on that program shortly."
The Company further announces that NI 43-101 geology reports on the Confederation North and Confederation South properties have been completed and, as required by the TSX.V regulators, has been submitted for review.
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."
"
Sam Dan
4 years ago
Well there are a lot of investors attracted to ILI. increase in the PP should close soon. Let the games begin!
" Infinite Ore Corp. (the "Company") (TSXV:ILI is pleased to announce that it is increasing the size of its previously announced private placement (see PR dated September 30, 2020). Due to increased demand, the private placement financing will be increased from 20,000,000 units ("Units") to 23,000,000 Units at a price of $0.05 per Unit for gross proceeds of $1,150,000. In addition, the company will complete a private placement of up to 5,835,000 flow-through units ("FT Units") at a price of $0.06 per FT Unit for gross proceeds of $350,100 (collectively, the "Offering"). This private placement is subject to TSX Venture approval.
Each Unit will be comprised of one common share ("Share") and one transferable Share purchase warrant of the Company ("Warrant"). Each FT Unit will consist of one flow-through common share and one-half of one Warrant (FT Warrant). Each full Warrant and full FT Warrant will entitle the Subscriber to purchase one Share for a period of 24-month period after the Closing Date at an exercise price of $0.10 per share.
Proceeds raised from the Offering will be used towards ongoing geological work on the Company's Eastern Vision project in the Red Lake area as well as for general working capital. The Offering is expected to close on or about October 15th, 2020 and is subject to receipt of acceptance by the TSX Venture Exchange (the "TSX-V"). Finder's fees may be payable in connection with the Offerings, in accordance with the policies of the TSX-V.
Sam Dan
4 years ago
Exploration to start on ILI holdings near Red Lake for Gold and Minerals.
"(ILI-TSX:V) (OTCQB:ARXRF) is pleased to announce it has commenced a field exploration program on its Red Lake Eastern Vision project designed to identify both VMS and gold targets on previously undrilled areas. The company intends to follow-up this fieldwork with a fall/winter drilling program. Properties within the Eastern Vision project have historically been explored for VMS mineralization. However, recent high-grade gold discoveries by Great Bear Resource Ltd. and Portofino Resources Inc. in the same greenstone belt also highlight a new gold potential for the area that was not previously investigated.
Infinite Ore's exploration program will:
Investigate for VMS and gold mineralization in a 4 km long alteration trend and geophysical anomalies on the Fredart property. The program will focus on alteration zones, structural make-up, syn-volcanic intrusives and iron formations.
Undertake a mapping and rock/till sampling program on areas of the Confederation North properties adjacent to the site of Portofino's high-grade gold discovery. These zones underwent little exploration activity but display similar lithologies.
Carry out a VTEM+ survey on properties not covered by previous geophysical surveys.
JC St-Amour, President and CEO of Infinite Ore Corp said, "We have assembled one of the largest land packages in the Red Lake District and I am very encouraged by the gold discoveries recently made near our Confederation North property. This area is largely underexplored, especially for gold, and we will have boots on the ground this fall to validate the potential to host gold mineralization on the property. The field work is also following up on the recently completed drill program and we have a number of high priority targets that we are investigating on Fredart for both gold and VMS."
The Eastern Vision project is located within the Archean Birch-Uchi Sub-province. Most of the exposed volcanosedimentary lithologies belong to the youngest Confederation Lake assemblage. The latter features several mafic to felsic volcanic sequences in which VMS-mineralized bodies were discovered and subsequently explored and drilled by major mining companies (Noranda, Selco, Hudson Bay Mining) starting from the middle 1970's to the end of the 90's. Several of these Zn-Cu±Ag-rich mineralized zones occur on Infinite properties (ex: Garnet Lake with an inferred resources* of 2.1 Mt @ 5.78 % Zn, 0.72 % Cu, 19.5 g/t Ag and 0.6 g/t A; Copper Lode A on Fredart (Cu-Ag) and Dixie 3 on Dixie 3 (Zn-Cu)). The Confederation Lake assemblage also contains fertile rhyolitic rocks hosting the past-producing South Bay VMS Mine that yielded 1.6 Mt of ore averaging 11.06 wt. % Zn, 1.8 wt. % Cu and 73 g/t Ag.
Sam Dan
4 years ago
A major change in the Board of ILI.. Mr. England has lead the company in its move first into Lithium projects and now into the Red Lake mineral projects. . Hope this change strengthens the board,
" ("ILI" or the "Company") (ILI-TSX:V) (OTCQB:ARXRF) announces the appointments of Mr. J.C. St-Amour, M.Sc., CFA. and Mr. Jonathan Gagné, Eng., MBA, to its Board of Directors effective immediately. Mr. St-Amour will also assume the role of President in place of Mr. Mike England who will remain on the Board.
Mr. St-Amour has over 20 years of mining industry experience in corporate finance and mergers & acquisitions. He has a masters degree in geology and is a Chartered Financial Analyst with strengths and expertise in capital markets, financial and investment analysis, asset valuation, due diligence, and managing financing and M&A transactions in the natural resource sector. During his career, J.C. has held various investment banking and senior management roles, including Director, Investment Banking and member of the Executive Committee with Fraser Mackenzie Limited; Vice President, Investment Banking at Blackmont Capital Inc.; Senior Vice President, Corporate Development and Chief Financial Officer at Defiance Mining Corporation and Vice President, Corporate Development at Rio Narcea Gold Mines Ltd.
Mr. Gagné has a B.Sc. in Mining Engineering from École Polytechnique de Montréal and an MBA with a specialization in Corporate Finance from Université du Québec à Montréal. Mr. Gagné has more than 12 years of experience in the mining sector in terms of project development, operation and management. Mr. Gagné began his career being involved in the construction and commissioning of the Meadowbank gold project located in Nunavut. He was head of the mining engineering department for SGS Geostat, a mining services company specializing in computer-assisted mineral resource estimation services using cutting edge geostatistical techniques. Mr. Gagné also was the responsible engineer to support the open-pit operations for Glencore Zinc globally. Most recently, he was General Manager of Sayona Quebec and currently works for Greenstone Gold Mines, which aims to develop the Hardrock Gold Project located in Ontario and is also a director of Vision Lithium Inc.
"The additions of both J.C. and Jonathan to our Board brings Infinite exceptional depth given the combined skill sets and expertise they have gained during their careers. Timing is perfect as we become very active on our Red Lake, Ontario portfolio." stated Mike England, Director of Infinite Ore Corp."
Sam Dan
4 years ago
Update on drilling of potential gold and mineral property in Fredart property.As always wait for the assays to determine true value.
" ("ILI" or the "Company") (TSXV:ILI)(OTCQB:ARXRF) is very pleased to provide an update on its recently announced 1,500 m diamond drill program currently underway at the Fredart property in Red Lake, Ontario. The Company has completed 3 of 5 holes ahead of schedule and under budget as of the date of this press release. Drilling to date has encountered massive to stringer sulphide mineralization in each drill hole which appears to be associated with banded iron formation horizons. The goal of the current drill program is to confirm and expand on the VMS mineralized zones, test for gold mineralization, and refine the Leapfrog 3D model.
Mike England President and CEO of Infinite Ore commented, "We are very pleased with the pace of drilling at Fredart, owing to the exceptional infrastructure and technical team we have in place at the property. We will be sending the core to the lab for assaying and will update the market with results as soon as possible."
Michel Bolly, PhD, P.Geo. is the qualified person as defined by National Instrument 43-101 has designed and is managing the current drill program on behalf of Infinite Ore and is responsible for approving the technical contents of this press release.
Sam Dan
4 years ago
Finally let the GAMES begin ! Drilling is the true proving of the value of the the company's holdings.So lets all cross EVERYTHING in hopes of success.
" Infinite Ore Corp. ("ILI" or the "Company") (TSX:V:ILI) (OTCQB:ARXRF) is pleased to announce its inaugural 1,250 metre diamond drill program on the Fredart property in the Red Lake Mining District. The phase one diamond drill program will commence within a week and aims to confirm and expand on the VMS mineralized zones, test for gold mineralization, and refine the Leapfrog 3D model. The ILI Fredart property is located approx. 40 km from the eastern boundary of Great Bear Resource Ltd.'s Dixie project and host an historical resource of (non-NI 43-101 compliant *) mineral resource of 386,200 tonnes grading 1.56 per cent copper (% Cu) and 33.6 grams per tonne silver (g/t Ag) (completed by Phelps-Dodge Mining Co. in 1971 and included within a prospectus for Consolidated Copper Lode Developments Inc., Jan. 7, 1977, submitted to the Ontario Securities Commission). * This historical resource estimate does not comply with the standards of NI 43-101 and has not been reviewed by a qualified person, nor verified. Infinite Ore is not treating the historical resource estimate as a current mineral resource or mineral reserve.
Figure 1: Location of ILI's Property Holdings in the Red Lake District
Image: https://www.accesswire.com/users/newswire/images/593554/94cba4c5-520b-421d-9bcf-f6c2b68fbc5e.png
The 1,250-metre drill program will focus on areas of known VMS mineralization and aims to expand upon the historical resource along strike and to depth. Initial drill targets are at a maximum depth of 200 vertical metres metres below surface. Historical drilling on the Copperlode "A" prospect identified several lenses of mineralization within diamond drill holes, which previous operators interpreted as a single VMS horizon which was subject to several folding events. Infinite's objectives for this program are three-fold: confirm the historical grades and widths; expand the known mineralization to depth and along strike; and test for gold mineralization which was historically not often analyzed.
Being well located in the Red Lake Mining district, the Fredart property benefits from excellent infrastructure and a highly skilled work force, as well as several nearby mills and active mining operations. ILI has contracted Chibougamau Diamond Drilling, which has significant experience in drilling in Red Lake, for this drill campaign.
Mr. Kelly Malcolm, P.Geo, is the qualified person as defined by National Instrument 43-101 who has examined and reviewed the recent NI 43-101 report and geological information available from public sources related to the property, and is responsible for approving the technical contents of this press release.
Figure 2: Geology of the Fredart Property with Known Mineral Occurrences. Drilling will be focused on the Copperlode "A" Prospect and surrounding areas.
Image: https://www.accesswire.com/users/newswire/images/593554/9d350ea3-4420-4e86-bdea-d81e9410b98d.png
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects globally. The company's current focus is on properties with the potential for VMS mineralization in the Confederation mineral belt near Red Lake, Ont., as well as the Jackpot lithium property located near Nipigon, Ont.
"
Sam Dan
5 years ago
I would think it would have been cheaper for ILI to buy PST outright than ALLthe announced acquisitions that ILI is completing.
" (“Pistol Bay” or the “Company”) reports that it has option out 80% of its Garnet Lake / Arrow Zone and Fredart/Copperload A claims in the Red Lake Mining District to Infinite Lithium Corp. (ILI:TSX-V) (OTCQB:ARXRF)
The Garnet Lake / Arrow Zone is part of Pistol Bay Confederation Lake land package that was acquired from Aurcrest. This land package is 2733 hectares (6752 acres) and includes a substantial mineral deposit and a number of mineralized drill intersections that are in need of follow-up drill testing. Mineralization on the property is all of Volcanogenic Massive Sulphide (VMS) type, dominated by zinc, copper and silver, with occasional associated gold values. (see NR October 19, 2016)
The Copperlode “A” or Fredart Zone deposit is 2620 hectares (6472 acres) and has a historical mineral resource of 425,000 tonnes grading 1.56% copperand 33.6 g/t silver. This historical resource estimate does not comply with the standards of National Instrument 43-101 and has not been reviewed by a Qualified Person. The zone was drill-tested to a depth of approximately 200 metres over a length of 350 metres, and was reported as being open at depth. The area was also explored for molybdenum in the 1970s, and samples containing up to 1.46% Mo were reported. (see NR October 19, 2016)
A 2100 line km VTEM PlusTM airborne survey was completed in 2017 – detected parallel conductors or extensions of known conductors in lengths of 400, 850, 900 and 950 metres at Fredart Corridor which is within a total strike length of 22km.
A diamond drilling program was carried out by AurCrest in 2010, in an attempt to expand the resource base by drilling down a possible easterly plunge in the area of an IP anomaly. A fence of five holes was drilled, without intersecting any significant mineralization. A borehole EM survey carried out on those drill holes in 2010 identified a strong off-hole conductor in two adjacent holes, with an interpreted conductive zone lying between the two holes. It is anticipated that this anomaly may represent the down-plunge extension of the Copperlode “A” zone, or possibly a new zone.
Garnet Lake /Arrow Zone has a NI43-101 resource of
3% Zn equivalent cutoff:
Indicated Resource 2,071,000 tonnes @ 5.92% Zn, 0.75% Cu, 21.1 g/t Ag and 0.58 g/t Au
Inferred Resource 120,550 tonnes @ 2.60% Zn, 0.56% Cu, 18.6 g/t Ag and 0.40 g/t Au
5% Zn equivalent cutoff:
Indicated Resource 1,762,000 tonnes @ 6.75% Zn, 0.79% Cu, 22.3 g/t Ag and 0.61 g/t Au
Inferred Resource 51,630 tonnes @ 3.86% Zn, 0.79% Cu, 23.9 g/t Ag and 0.58 g/t Au
10% Zn equivalent cutoff:
Indicated Resource 633,000 tonnes @ 14.3 Zn, 1.11% Cu, 31.7 g/t Ag and 0.85 g/t Au
Terms of this agreement
GARNET LAKE / ARROW ZONE
Upon Exchange Approval, Pistol Bay will receive the following payments and exploration expenditures commitments from Infinite Lithium Corp.
Payments of $75,000 cash and 1,000,000 Infinite Lithium Corp common shares within 5 days of the Exchange Approval date
Additional payment of $75,000 cash within 6 months of the Exchange Approval date.
Additional payments of $150,000 cash, 1,000,000 Infinite Lithium Corp. common shares and exploration expenditures of $400,00 in or on the claims within 12 months of the Exchange Approval date
Additional payment of 2,000,000 Infinite Lithium Corp. common shares and exploration expenditures of $400,000 in or on the claims within 24 months of the Exchange Approval date
Additional $700,000 in exploration expenditures in or on the claims before the third anniversary of the Exchange Approval date
FREDART / COPPERLOAD A
Upon Exchange Approval, Pistol Bay will receive the following payments and exploration expenditures commitments from Infinite Lithium Corp.
Payments of $30,000 cash and 750,000 Infinite Lithium Corp common shares within 5 days of the Exchange Approval date
Additional payment of $50,000 cash within 6 months of the Exchange Approval date.
Additional payments of $70,000 cash, 750,000 Infinite Lithium Corp. common shares and exploration expenditures of $300,00 in or on the claims within 12 months of the Exchange Approval date
Additional payment of 1,000,000 Infinite Lithium Corp. common shares and exploration expenditures of $300,000 in or on the claims within 24 months of the Exchange Approval date
Additional $400,000 in exploration expenditures in or on the claims before the third anniversary of the Exchange Approval date
About Pistol Bay Mining Inc.
Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on zinc and base metal properties in North America. The company is also actively pursuing the right opportunity in other resources to enhance shareholders value. For additional information please visit the Company website at www.pistolbaymininginc.com or contact Charles Desjardins at pistolbaymining@gmail.com."
Sam Dan
5 years ago
Not sure how to evaluate this new acquisition, only testing will tell the value.
"("ILI" or the "Company") (TSXV:ILI) is pleased to announce that the Company entered into an option agreement to acquire a 90% interest in the "Dixie Ten-Mile" properties from Pistol Bay Mining Inc., in the Red Lake Mining District. The property package covers the Dixie 17, Dixie 18, Dixie Gap and Dixie 20 mineral occurrences and prospects, with the eastern portion of the property located at the junction of the Ten Mile Road and Snake Falls Road.
The Dixie Ten-Mile property is approximately 20 kilometers north-east of the "LP Target" drilling activity of Great Bear Resources Corp.'s Dixie Project. The Dixie Ten-Mile property is approximately 5 kilometers north-west of the Company's Dixie 3 property (see press release 2019-12-12).
The Dixie Ten-Mile property comprises 89 claims, covering approximately ~2,000 hectares. The property has excellent access and logistics, from Red Lake or Ear Falls, and is traversed by the Snake Falls main access road.
The Dixie Ten-Mile property covers 4-5 km of strike length along two mineralized stratigraphic horizons hosting Cu-Zn mineralization and exhibiting intense footwall hydrothermal alteration. The property has seen intermittent exploration since 1950's with resurgence in 1960's upon the discovery of the South Bay Mine, located approximately 45 kilometers to the north-east. Major mining companies including Selco, Noranda, Minnova-Inmet, Rio Algom, Inco and Homestake working in the area in the 1970- 1990's. Tribute Minerals Inc. ("Tribute") in the early 2000's completed line cutting, geophysical surveys, a Quantec Geosciences Titan-24 surveys, and additional diamond drilling.
Highlights include:
Dixie 18 Zone - The northern horizon hosts the Dixie 18 deposit with resources (historic, non-43-101 compliant (*1) reported by Noranda of 110,000 tons (99,820 tonnes) grading 0.5% Cu and 12.5% Zn to a depth of 150 meters.
Dixie Gap - Approximately 1.5 kilometers east of the Dixie 18 occurrence, a cluster of strong AEM (airborne electromagnetic) (INPUT) targets (known as the Dixie Gap) indicates continuing conductivity to the west.
Dixie 19 and Dixie 17 - The second mineralized horizon is located 1.5 kilometers south of the Dixie 18 horizon and hosts two Cu-Zn prospects known as the Dixie 19 and 17 zones. Dixie 19 consists of stringer to massive sulphides locally interbedded with massive magnetite which has been traced by drilling for a 500m strike length to a depth of 225 metres. Significant drill intersections on the southern mineralized horizon include 7.34% zinc (Zn), and 1.4 % copper (Cu) over 9.5 metres in the Dixie 17 Zone, and 6.33% Zn and 1.50 % Cu over 3.35 metres in the Dixie 19 Zone.
The Dixie 19 Zone is coincident with the second Titan-24 target. Mineralization in the Dixie 19 Zone has been identified by drilling over a 500 meter strike length to a depth of 225 metres and ranged in thickness from < l meter to 30 meters.:
At the time (2003) the previous operator, Tribute Minerals Inc. has utilized a newly developed, deep penetration geophysical technique (Quantec's Titan-24 system) in an attempt to "see" to depths below those previously possible.
Dixie 20 - In 2003 Tribute reported: "The results of the Titan-24 survey are very encouraging to Tribute, since they show a series of conductive anomalies (Dixie 20) over a strike length of 800 meters at depths of approximately 1 km which are consistent with the response expected from massive sulphides or graphite. (Westoll. 2003, 43-101 Report for Tribute Minerals Inc.)
*1 - Note: historic, non-43-101 compliant resources have not been verified, nor should they be relied upon.
The Dixie Ten-Mile property covers prospective alteration in rock units favorable for VMS mineralization with a portion of the property covered by the Titan-24 survey.
"We are accumulating a favourable land package in the Red Lake area as part of our strategy to focus on prospective gold and VMS targets," said Mike England President and CEO of Infinite Lithium. "The Dixie Ten-Mile property is proximal to the Company's recently acquired Ben Lake, Dixie 3, Eastern Vision and North Buffy Lake properties in the Red Lake camp."
Mr. England continued, "Significant advances have been made since 2003, with deep penetrating geophysical techniques able to identify anomalies to depths of 500 to 1,100 meters, and the Company is investigating these types of survey over the highly prospective stratigraphy of the Dixie Ten-Mile property."
To earn a 90% interest in the Dixie Ten-Mile property from Pistol Bay Mining Inc., an arms-length party, Infinite will make cumulative payments of Cdn $60,000 cash, the issuance of 1,000,000 common shares of the Company over a one (1) year period and perform expenditures of $550,000 over a 2 year period. An additional 15% interest in the claims can be purchased for Cdn $30,000 and an additional 500,000 shares. An underlying vendor retains a 1 % Net Smelter Royalty ("NSR"), 50% of which is purchasable by Infinite for Cdn $400,000 at any time.
This transaction is subject to TSX Venture approval.
Mr. Kelly Malcolm, professional geoscientist, P.Geo, is the qualified person as defined by National Instrument 43-101 has examined and described the geological information available form public sources related to the property and is responsible for reviewing and approving the technical contents of this press release.
The Qualified Persons have not completed sufficient work to verify the historic information on the Property, particularly in regard to historical drill results and historical resources. However, the Qualified Persons believe that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
About Infinite Lithium Corp.
Infinite Lithium is a junior mining exploration company focused on seeking and acquiring world-class mineral projects globally. Our current focus is on properties with the potential for VMS mineralization in the Confederation Mineral Belt near Red Lake, Ontario, and the Jackpot Lithium property located near Nipigon, Ontario. Infinite Lithium also continues to evaluate suitable prospects that fit the mandate of the company. "
Sam Dan
5 years ago
That didn't take long for the fill of the PP. Now we wait for
exploration results. Probably 6 months or morel
" ("ILI" or the "Company") (TSXV:ILI)(OTCQB:ARXRF) is pleased to announce that further to its press releases dated January 15, 2020 and January 20, 2020 the Company has closed its non-brokered private placement. The total raised issuing 15,211,333 units (the "Units") at a price of $0.06 per Unit for aggregate gross proceeds of $912,679,98.
Each Unit is comprised of one common share (a "Share") and one half of one transferable Share purchase warrant (a "Warrant") of the Company. Each full Warrant will entitle the holder to purchase one Share (a "Warrant Share") at a price of $0.10 per Warrant Share for a 24 month period after the Closing Date.
Finders' fees of $37,740.80 and 609,680 finder's warrants were paid to arm's length parties. Finder's warrants entitle the Finder to purchase one common share in the Company at a price of $0.10 for a period of 24 months from the date of closing.
The shares and warrants comprising the units in tranche two are subject to a 4 month hold period expiring May 25th, 2020.
The Private Placement is subject to TSX Venture Exchange final approval.
The Company further announces it has granted a total of up to 1,000,000 stock options to directors of the company exercisable at a price of $0.10 per share for a period of up to two years from the date of grant.
The options have been granted in accordance with the company's stock option plan."
Sam Dan
5 years ago
Clarification and another increase in the PP. Major dilution but will provide the money needed to do the drilling to prove the value of new properties.OBVIOUSLY ALL DEPENDS on the results of the drilling
"January 20, 2020, Vancouver, BC, Canada – Infinite Lithium Corp. (“ILI” or the “Company”) (ILI-TSX:V) (OTCQB:ARXRF) announces that further to its press release dated January 15th announcing a non-brokered private placement of up to 8.4 million units ("Units") at a price of $0.06 per Unit for aggregate gross proceeds of $504,000.00 that due to overwhelming demand it is arranging to increase the financing to up to 20 million units for aggregate gross proceeds of $1,200,000 (the "Offering"). Each Unit will be comprised of one common share ("Share") and one-half of one transferable Share purchase warrant of the Company ("Warrant"). Each full Warrant will entitle the Subscriber to purchase one Warrant Share for a 24-month period after the Closing Date at an exercise price of $0.10 per share.
Proceeds from the financing will be used for drilling and prospecting on the Company’s 3 newly acquired properties located in the Red Lake Mining District in Ontario, (see news releases dated December 2nd, 4th & 12th, 2019) as well as for general working capital and unallocated funds as per Tier 2 status requirement.
Finders' fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange.
The offering is subject to TSX Venture Exchange acceptance.
Sam Dan
5 years ago
ILI completes 2nd tranche and added another tranche. For total of 1 million dollars
"Mr. John Masters reports
INFINITE CLOSES SECOND AND FINAL TRANCHE OF NON-FLOW THROUGH FINANCING PLUS ADDITIONAL NON-FLOW THROUGH FINANCING ARRANGED
Further to its press releases dated Dec. 16, 2019, and Dec. 31, 2019, Infinite Lithium Corp. has closed the second and final tranche of its fully subscribed, non-brokered, non-flow-through private placement. The total raised in tranche two issuing 2,000,000 units (the "Units") at a price of $0.05 per Unit for aggregate gross proceeds of $100,000. The aggregate total raised of the two tranches issuing 10,000,000 units at a price of $0.05 per Unit for aggregate gross proceeds of $500,000.
Each Unit is comprised of one common share (a "Share") and one half of one transferable Share purchase warrant (a "Warrant") of the Company. Each full Warrant will entitle the holder to purchase one Share (a "Warrant Share") at a price of $0.10 per Warrant Share for a 24 month period after the Closing Date.
For the two tranches finders' fees of $20,620.00 and 412,400 finder's warrants were paid to arm's length parties. Finder's warrants entitle the Finder to purchase one common share in the Company at a price of $0.10 for a period of 24 months from the date of closing.
The shares and warrants comprising the units in tranche two are subject to a 4 month hold period expiring May 15th, 2020.
The Company further announces it has arranged a non-brokered private placement of up to 8.4 million units ("Units") at a price of $0.06 per Unit for aggregate gross proceeds of $504,000. Each Unit will be comprised of one common share ("Share") and one-half of one transferable Share purchase warrant of the Company ("Warrant"). Each full Warrant will entitle the Subscriber to purchase one Warrant Share for a 24-month period after the Closing Date at an exercise price of $0.10 per share".
Sam Dan
5 years ago
INFINITE announces the first tranche of financing completed'
It would seem the success of this endeavour looks so promising that the company will complete the non-flow through portion of the PP but cancel the flow through PP.
"INFINITE CLOSES FIRST TRANCHE OF NON-FLOW THROUGH FINANCING
December 31, 2019, Vancouver, BC, Canada – Infinite Lithium Corp. (“ILI” or the “Company”) (ILI-TSX:V) (OTCQB:ARXRF) is pleased to announce that further to its press release dated December 16th, 2019 the Company has closed the first tranche of its non-brokered, non-flow through private placement. The total raised in the financing issuing 8,000,000 units (the "Units") at a price of $0.05 per Unit for aggregate gross proceeds of $400,000.00.
Each Unit is comprised of one common share (a "Share") and one half of one transferable Share purchase warrant (a "Warrant") of the Company. Each full Warrant will entitle the holder to purchase one Share (a “Warrant Share”) at a price of $0.10 per Warrant Share for a 24 month period after the Closing Date.
Finders’ fees of $20,620.00 and 412,400 finder’s warrants were paid to arm’s length parties. Finder’s warrants entitle the Finder to purchase one common share in the Company at a price of $0.10 for a period of 24 months from the date of closing.
The shares and warrants comprising the units are subject to a 4 month hold period expiring May 1st, 2020.
The Company has elected to cancel the flow through financing announced December 16th, 2019."
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
Ask ADVFN Intelligence (AI)
antman
3 years ago
Hot Features
Premium
