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Infinite Adds High Grade VMS Resources in The Red Lake Mining District with The Acquisition of Fredart, Garnet Lake and Northern Vision Properties
VANCOUVER, BC / ACCESSWIRE / February 4, 2020 / Infinite Lithium Corp. ("ILI" or the "Compan...
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[{"type":"text","content":"Infinite Adds High Grade VMS Resources in The Red Lake Mining District with The Acquisition of Fredart, Garnet Lake and Northern Vision PropertiesVANCOUVER, BC / ACCESSWIRE / February 4, 2020 / Infinite Lithium Corp. (\"ILI\" or the \"Company\") (ILI-TSX:V) is pleased to announce the significant expansion of its property holdings in the Red Lake Mining District. The Company has entered into option agreements to acquire an 80% interest in the Fredart (\"Fredart\") and Garnet Lake (\"Garnet Lake\") properties from Pistol Bay Mining Inc., and an option agreement to acquire 100% of the Northern Vision property from an arms-length vendor (collectively the \"Properties\"). Each of the Properties have been explored in the past with various methods including diamond drilling which resulted in a high-grade polymetallic NI 43-101 compliant resource estimate along with a historic mineral resource estimate.\"Together with today's announced acquisitions and the Dixie Ten-Mile, Dixie 3, Ben Lake, and Eastern Vision properties, the Company has rapidly secured the most strategic and advanced VMS targets in the Confederation Lake Belt\", states Mike England, President and CEO of Infinite Lithium. \"Our holdings include a NI 43-101 compliant resource at the Arrow Zone on the Garnet Lake property, and two historical resources on the Fredart and Dixie Ten-Mile properties. All properties have excellent potential for expansion along strike at depth, and targets have been defined by the application of state-of-the-art geophysical technologies, and geological modelling.\"The Fredart and Garnet Lake properties are located 70 kilometres east of the mining town of Red Lake, Ontario, and approximately 40 and 50 kilometers respectively from the eastern boundary of the Dixie Property being aggressively explored by Great Bear Resources Ltd. The Northern Vision property is contiguous with and east of the Company's recently acquired Dixie Ten-Mile property. All Properties have excellent access and logistics, from Red Lake or Ear Falls, with main access and logging roads.Highlights include:The Garnet Lake property consists of claims comprising 2,733 hectares, and hosts the Arrow Zone, interpreted as a volcanogenic massive sulphide (VMS) deposit, with 43-101 compliant inferred (polygonal method) mineral resources (Pistol Bay, September 5, 2017, SEDAR) of 2,100,00...