Infinite Lithium Announces Channel and Drill Results from Jackpot Lithium Project
August 16, 2018 (Source) — INFINITE LITHIUM CORP. (“Infinite” or the “Company”) (TSX-V:ILI) (37NN–FRANKFURT) is pleased to announce drill core assay results from its ongoing exploration program (prospecting, mapping, trenching/channel sampling and drilling) at the Jackpot Lithium Property (the “Property”), located in the Georgia Lake Area of the Thunder Bay Mining Division, Ontario. The Company is currently drilling hole 39 (J-18-38) of a +42 hole (+7,100 metre) program targeting multiple spodumene-bearing dikes in the Jackpot Main area. Drill core results from holes J-17-01 and J-18-01 through 14 have been released (see news releases, March 3, 2018 and April 18, 2018).
Michael England, President of Infinite Lithium, commented: “Surface prospecting, geological mapping and trenching continues to uncover new spodumene-bearing pegmatites and contribute to the geologic model, with results to be incorporated into a future NI 43-101 mineral resource estimation. All our drilling to date has focused on the Main Jackpot area with a goal of building lithium resources on a minimum of two dike systems. Prospecting and trenching indicate an extensive surface pegmatite field with good continuity along strike and wide exposures of spodumene-bearing pegmatite. This surface target could make for an excellent future low-cost mining scenario. At the same time our drilling program continues to intersect and delineate the Main Jackpot pegmatite (Dike #2) which comes to surface and dips at about 30 degrees northwestward. The exploration team is currently detail channel sampling more than ten targets outside of the Main Jackpot area and continues to make new pegmatite dike discoveries across the Jackpot Property. Recent channel sample results from the Main Jackpot area returned intercepts with excellent grades of up to 3.35% Li2O over 2 metres.”
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Map of the central Jackpot Property showing target exploration areas for drilling, channel sampling, prospecting, and geological mapping programs.
Channel samples results taken from the Main Jackpot area:
|Channel||From (m)||To (m)||Int (m)||Li2O (%)|
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Channel samples were cut through exposed pegmatite at right angles to strike and do not represent contact to contact widths. Further trenching is required to expose the contacts and channel sample lengths will be extended to encompass the entire width of the exposed pegmatite dikes.
Latest assays from the Main Jackpot area diamond drilling program include the following:
|Drill Hole||From (m)||To (m)||Int (m)||Li20 (%)|
|J-18-16||no significant intercepts|
|J-18-17||no significant intercepts|
|J-18-19||no significant intercepts|
|J-18-22||no Samples||151.00||needs deepening||—|
|J-18-23||no significant Intercepts|
Significant intercepts are considered to be intersections of greater than 1.0 metre grading greater than 0.3% Li2O. Although drill holes J-18-16, 17, 19 and 23 did not return significant lithium grades they did contain intercepts of anomalous lithium concentrations. Drill hole J-18-22 was stopped short of its target (Main Zone Dike#2) and is currently be extended.
The Company is well financed to continue the current drilling program and expand the surface exploration program, directed at collecting enough information to complete a maiden National Instrument 43-101 Technical Report and Mineral Resource Estimation, later this year.
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 Property has 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.
We seek Safe Harbor.
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).
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