Infinite Lithium may have hit the jackpot in Ontario Canada
There’s a revolution about to happen in the way we use green energy. In the very near future both electric vehicles (EVs) and 5G radio access networks are going to change the way many things are now done. The EV industry is going to need batteries, lots and lots of batteries. For EVs it’s kind of obvious, but with 5G we are talking a whole new connection speed and this will mean more connected 5G enabled devices that also use batteries, lots of batteries. So what are these batteries going to need? Lithium is the key to setting us on a path toward a low carbon energy future.
Infinite Lithium Corp. (TSXV: ILI) is a junior mining exploration company focused on seeking and acquiring world-class lithium projects globally. The Company’s current focus is on the Jackpot Lithium property located in the Georgia Lake Area, Thunder Bay mining division, Ontario, Canada. Infinite Lithium also continues to evaluate suitable prospects that fit the mandate of the company.
The Jackpot Lithium property (Ontario, Canada)
Infinite Lithium’s 100% owned Jackpot property covers a large 14,540 hectares land package in a highly perspective area for lithium. The project has a historic resource of 2 million tonnes at 1.09% Li2O with multiple new pegmatite targets on the property for future exploration. Drilling currently underway at the Jackpot area has intersected 7.23 meters with a 2.47% Li2O (at surface). The Jackpot Lithium property is located in the Georgia Lake area about 115 km north east of Thunder Bay, Ontario and is situated approximately 12 km from the Trans-Canada Highway (Hwy 11) and the main railroad which connects to the port town of Nipigon, on Lake Superior.
On July 4th, 2018 the Company reported they have discovered four new lithium pegmatites at the Jackpot Project. The new discoveries of spodumene bearing targets include grab samples of 4.33% Li2O at Casino Royal, 6.26% Li2O at Slot, 2.28% Li2O at Roulette, and 2.41% Li2O at Dealer. A total of 33 additional grab samples have been taken and are in the lab. Ongoing prospecting, geological mapping, and ground truthing has confirmed the potential for lithium mineralization is much more extensive than originally anticipated.
Michael England, president of Infinite Lithium, commented: “The recent discovery of additional surface pegmatite occurrences represent high priority drill targets in the short term. While only limited samples have been received to date, the lithium grades are significantly higher than the historic estimates of 1.09% Li2O (estimated in 1956 by the Ontario Lithium Company). Our objective to establish a larger and higher grade maiden resource is progressing well.”
Infinite Lithium is well financed to continue the current drilling program and expand the surface exploration program, and is collecting enough information to complete a maiden National Instrument 43-101 Technical Report and Mineral Resource estimation later this year.
Even though lithium is silvery-white it really is a green metal, that one day will lead to the reduction of fossil fuel usage worldwide. Infinite Lithium Corp. is progressing their Flagship Jackpot project at the right time as the demand for lithium will increase with the global uptake of electric vehicles, mass battery storage, and the future usage from new 5G devices. The world is going to need lots of batteries. Infinite Lithium may have hit the jackpot in Ontario Canada.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>