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Infinite Ore Corp. Files N43-101 Report and Plans Drilling on Fredart Property, Red Lake District, Ontario
(via TheNewswire) Vancouver, B.C. - TheNewswire - June 08, 2020 - Pisto...
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[{"type":"text","content":"Infinite Ore Corp. Files N43-101 Report and Plans Drilling on Fredart Property, Red Lake District, Ontario(via TheNewswire)\n \n \nVancouver, B.C. - TheNewswire - June 08, 2020 - Pistol Bay Mining Inc. (TSXV:PST); (Frankfurt :OQS2); (OTC:SLTFF) (\"Pistol Bay\" or the \"Company\") is pleased to announce that it's 80% optioned out Fredart Property to Infinite Ore Corp. (ILI-TSX:V) (OTCQB:ARXRF) had an N43-101 geology report completed, as required by the TSX.V regulators, and has been submitted by Infinite Ore Corp. for review and approval. Infinite Ore Corp. plans drilling on this property.\n\n\n \nThe 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). \n\n\n \nIn 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.\n\n\n \nThis newly commissioned report by authors Michel Boily and Matt Long represents a detailed compilation and interpretation of the Fredart Property with the following highlights:\n\n\n \n\n\n- 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.\n\n\n\n- 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. \n\n\n\n- 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: \"Th...