Business
Infinite Submits NI 43-101 Report and Plans Drilling in the Red Lake District
VANCOUVER, BC / ACCESSWIRE / June 4, 2020 / Infinite Ore Corp. ("ILI" or the "Company") (TSX...
About this update from Imagine Lithium Inc
[{"type":"text","content":"Infinite Submits NI 43-101 Report and Plans Drilling in the Red Lake DistrictVANCOUVER, BC / ACCESSWIRE / June 4, 2020 / Infinite Ore Corp. (\"ILI\" or the \"Company\") (TSXV:ILI) announces that a NI 43-101 geology report on the Fredart property in the Red Lake mining district has been completed, as required by the TSX.V regulators, and has been submitted for review. The newly acquired Fredart property is located 61 km east of the town of Red Lake in northwestern Ontario, comprising 171 contiguous mineral claims or 2,620 hectares (see Press Release February 4, 2020).In addition, a phase one diamond drill program is proposed in the near term to confirm and expand on the VMS mineralized zones, to test for gold mineralization, and to refine the Leapfrog 3D model.This newly commissioned report by authors Michel Boily and Matt Long represents a detailed compilation and interpretation of the Fredart Property with the following highlights:The Fredart property hosts the Copperlode/Fredart zone, with a historical mineral resource of 386,200 tonnes grading 1.56 per cent copper (% Cu) and 33.6 grams per tonne silver (g/t Ag) (completed by Phelps-Dodge Mining Co. in 1971 and included within a prospectus for Consolidated Copper Lode Developments Inc., Jan. 7, 1977, submitted to the Ontario Securities Commission). This historical mineral resource requires further drilling in order to verify and upgrade the resource to NI 43-101 standards. A Qualified Person has not done sufficient work to classify the historical estimate as current resources or mineral reserves and Infinite Ore is not treating the historical estimate as current mineral resources or mineral reserves.Mineralization in the Copperlode/Fredart zone is interpreted as Volcanogenic Massive Sulphide (VMS) type, dominated by zinc, copper and silver. Analysis for gold is incomplete, but significant values have been reported in some historic drill holes.Outcrop exposure on the Fredart Property is limited and exploration to date has focused on geochemical and geophysical methods to define targets. The report notes: \"The main \"A\" zone is 400 m long, at least 200 m deep and trends E-NE. Diamond drilling indicated the Copperlode \"A\" zone consists of numerous narrow, discontinuous, en échelon and subparallel sulphide zones. The metavolcanic rocks are commonly biotized and include va...