Current Drilling Program Results Support Historic Drilling: Infinite Lithium Intersects 7.23 Metres of 2.47% LI2O, Including 2 Metres of 4.48% LI2O
March 1, 2018 (Source) — INFINITE LITHIUM CORP. (“Infinite” or the “Company”) (TSX-V:ILI) (37NN–FRANKFURT) is pleased to announce initial results from the first 5 drill holes of the ongoing Phase 1 drilling program which began in December 2017. This program, now on hole twelve, is aimed at confirming and expanding on the historical drilling (1955) at the Jackpot Property. Results from the Phase 1 drilling program will be used to guide future drilling and to complete a National Instrument 43-101 (“NI-43-101”) Technical Report and Mineral Resource Estimation.
Five (5) drill holes, totalling 681 metres, are now available for reporting as follows:
|Drill Hole||From (m)||To (m)||Intercept (m)||Li2O (wt%)|
These five drill holes are approximate twins of historic drill holes as follows: J-17-01: twin of historic hole 425; J-18-01: twin of historic hole 426; J-18-02: twin of historic hole 427; J-18-03: twin of historic hole 428; J-18-04: twin of historic hole 429.
Mike England President and CEO of Infinite Lithium commented, “These early drilling results support the historic drill core intercepts reported in 1955-56 from the Property. I am very pleased with these initial results which, in some cases, show even better grade over larger widths than the historic drilling results. All five drill holes intersected greater than 1% Li2O which is an important consideration when one contemplates the economic extraction of lithium from a hard rock deposit.”
A total of twelve (12) drill holes, totalling approximately 1,700 metres, have been completed to date and results will be released as assays become available. Locations of the Phase 1 drill holes are designed to support historic drilling results, assist in modelling the orientation of the pegmatites, and provide a more robust understanding of the property’s potential. Drilling to date confirms the presence of the two pegmatite dykes, one near or at surface and relatively flat-lying, and the second striking approximately east-northeast and dripping shallowly to the northwest.
Mr. England continued, “Our drilling to date, although relatively shallow, has confirmed the presence of the two lithium-bearing pegmatite dykes as was reported from the historic work. In addition to confirming historic drill core assay results we will be completing additional drilling in the current program with the intention of expanding the historic mineral resources, which was based only on one of the two dykes. There are also numerous other pegmatite dykes on the Property which will provide targets in the future surface exploration and diamond drilling programs. We are off to a great start and I look forward to reporting the balance of the drilling results from this ongoing program. Our goal is to build sufficient enough tonnage to issue an NI 43-101 compliant mineral resource estimation as soon as possible.”
Get our daily investorintel update
The historic Jackpot lithium pegmatites were described by E.G. Pye (1965), in a government report published by the Ontario Department of Mines (Georgia Lake Area). In 1955, the LCT pegmatite dykes were tested by a total of 32 drill holes by the Ontario Lithium Company Limited and its associated company Conwest Exploration Company Limited. This historic drilling confirmed the presence of at least two spodumene-bearing pegmatite bodies; one at and near the surface (No. 1) and the second (No. 2) lying beneath the No. 1 pegmatite. The No.1 pegmatite was found to be a flat-lying body variably exposed at surface and with thicknesses ranging from 6 to 9 metres. Interpretation to date confirms that the lower No. 2 pegmatite strikes at approximately N65°E and dips 15°-25°NW as reported by Pye (1965). Both the upper No. 1 and lower No. 2 pegmatites are open towards the east and west and down dip.
Reported historical mineral resources at Jackpot were calculated on the basis of the No. 2 pegmatite and reported as 2 million tonnes @ 1.09% Li2O (estimated in 1956 by the Ontario Lithium Company Limited*). The No. 2 pegmatite was intersected by drilling at 30 to 100 metre intervals over a strike length of 215 metres, and at 30 to 60 metre intervals over a distance of approximately 365 metres across strike. The No. 2 pegmatite is approximately 4 to 20 metres thick, averaging 11 metres. It should be noted that no evidence exists to suggest that assaying was ever carried out for any elements other than lithium.
*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 National Instrument 43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. A Qualified Person has not yet done sufficient enough work to classify the historical resource estimate as current mineral resources or mineral reserves and should not be relied upon. The Company is not treating the historical estimate as current mineral resources or mineral reserves.
The technical contents of this news release were approved by Dr. Scott Jobin-Bevans, P.Geo., a Qualified Person as defined by the National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.
Infinite Lithium is a junior mining exploration company focused on seeking and acquiring world class lithium projects globally. Infinite Lithium continues to evaluate suitable prospects that fit the mandate of the Company.
ON BEHALF OF THE BOARD
Michael England, President, Director
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 of 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).
InvestorIntel is a trusted source of reliable information at the forefront of emerging markets that brings investment opportunities to discerning investors.