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Infinite Acquires Eastern Vision Property in The Red Lake District, Canada
VANCOUVER, BC / ACCESSWIRE / December 2, 2019 / Infinite Lithium Corp. ("ILI" or the "Compan...
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[{"type":"text","content":"Infinite Acquires Eastern Vision Property in The Red Lake District, CanadaVANCOUVER, BC / ACCESSWIRE / December 2, 2019 / Infinite Lithium Corp. (\"ILI\" or the \"Company\") (TSX.V:ILI) is pleased to announce that the Company has acquired 5 claims comprising 80 units and 1,425 hectares, known as the \"Eastern Vison\" property, approximately 20 kilometers due east of the eastern boundary of Great Bear Resources Corp.'s (TSX.V:GBR) Dixie Project located in the Red Lake District of Ontario. Great Bear is an industry exploration leader with multiple gold discoveries along a 3.2-kilometre stretch of the 18-kilometre-long LP fault target, with a 90,000-metre drill program in progress and fully financed drill program.The Eastern Vision property straddles a projected east-west feature, interpreted as a fault zone with multiple volcanogenic massive sulphides (\"VMS\") known to occur north of the Eastern Vision property. The Eastern Vision property is approximately 25 kilometers east-north-east of the active drilling by BTU Metals Corp.(\"BTU\") on the recently reported \"TNT\" VMS target.ILI Director Gerhard Jacob, MSc, states: \"We are pleased to acquire this strategic property, in a district with an exciting new gold discovery by GBR on the Dixie property, and excellent potential for base and precious metal VMS mineralization. The Company's management and consultants have extensive experience in this area of Ontario and these types of deposits.\"The Company is acquiring a 100% interest in the claims comprising the Eastern Vision property from an arms-length vendor through cumulative payments of Cdn $72,000 in cash, and the share issuance of 800,000 shares, over a three (3) year period. The vendor retains a 1.5 % Net Smelter Royalty (\"NSR\"), 50% of which is purchasable by ILI for $1,000,000 at any time.Mr. Kelly Malcolm, P.Geo, is the qualified person as defined by National Instrument 43-101 who has examined and described the geological information available from public sources related to the property, and is responsible for reviewing and approving the technical contents of this press release.About Infinite Lithium Corp.Infinite Lithium is a junior mining exploration company focused on seeking and acquiring world-class mining exploration projects globally for the benefit of its stakeholders.ON BEHALF OF THE BOARD\"John Masters\" John ...