Infinite Lithium Discovers Four New Lithium Pegmatites at the Jackpot Project, Ontario – Lithium Mineralization Much More Extensive than Originally Anticipated
Vancouver, British Columbia (FSCwire) - Infinite Lithium Corp. (“Infinite” or the “Company”) (TSX-V:ILI) (37NN–FRANKFURT) (OTCQB:ARXRF) is pleased to announce that an ongoing prospecting and geological mapping program on the Jackpot Lithium property (the “Property”), located in the Georgia Lake Area, Thunder Bay mining division, Ontario, has resulted in the discovery of multiple new lithium-bearing pegmatite dikes. This work augments the ongoing diamond drilling program in progress since December 2017, focused on the Jackpot Main Zone (“JMZ”), where hole 29 (the 30th hole) has recently been completed. Drill core assay results from holes J-17-01 and J-18-01 through 15, have been released (see news releases, April 18, 2018 and March 3, 2018), with additional drill core and surface sample (grab and channel) assays pending.
Latest assay highlights of the Company’s newly discovered lithium bearing pegmatite dikes on the Property include:
- Slots Target: located approx. 340 metres northeast of hole J-18-04 on the JMZ, which returned 7.2 metres averaging 2.47% lithium oxide (Li2O), from 2.2 to 9.43 metres. Sixteen grab samples from the Slots Target range from 0 to 6.26% Li2O, with the top seven samples assaying 0.29%, 2.36%, 2.57%, 4.53%, 4.68%, 5.76%, and 6.26% Li2O.
- Dealer Target: located approx. 770 metres southwest of hole J-18-04. Six grab samples from this target range from 0 to 2.41% Li2O, with the top three samples assaying 0.26%, 0.74%, and 2.41% Li2O.
- Roulette Target: located approx. 370 metres west of hole J-18-04. Only two grab samples have been returned to date, with 2.28% Li2O in each sample.
- Casino Royale Target: located approx. 780 metres northwest of hole J-18-04, four grab samples range from 0.09 to 4.33% Li2O; the top three grab samples assayed 1.91%, 3.04%, and 4.33% Li2O.
- 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.
- A third lithium-bearing pegmatite zone was also discovered in drill hole J-18-13, returning 5 metres of 3.02% Li2O (from 232.65 to 237.65 metres) which will be targeted as part of the ongoing drilling program.
The Company is well financed to continue the current drilling program and expand the surface program, directed at the completion of a maiden National Instrument 43-101 Technical Report and Mineral Resources Estimation, later this year.
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."
The Company is also pleased to announce a significant increase in the size of the Jackpot Property, through the staking of 12 cell block areas, representing 14 350.49 ha (143.50 sq-km). The entire Jackpot Property now totals 14 539.70 hectares which establishes Infinite as one of the largest land owners in the Georgia Lake pegmatite district.
The Company cautions investors that grab samples are selected samples and are not necessarily representative of the mineralization on the Property.
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.
We seek Safe Harbor.
ON BEHALF OF THE BOARD
Michael England, President, Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Toll Free: 1-888-945-4770
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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Source: Infinite Lithium Corp. (TSX Venture:ILI, OTCQB:ARXRD, FWB:37NN)
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