Infinite Ore Adds To Historical Resources on Jackpot Lithium Project
Infinite Ore Adds To Historical Resources on
Jackpot Lithium Project
January 27th, 2021 Vancouver, BC, Canada – Infinite Ore Corp. (the “Company”) (ILI-
TSX:V) (OTCQB:ARXRF) is pleased to announce the acquisition of four additional
lithium claims in Ontario having a historic resource of 750,000 tons yielding 1.38%
Li2O*. This is in addition to the historical resource of 2 million tons at 1.09% Li2O*
currently present on the Jackpot property. The new claims are contiguous to, and
located within, the Company’s Jackpot Property (see Figure 1). The claims contain
the Newkirk-Vegan lithium showing that was discovered through exploration in the
1950’s. Drilling at the time traced the Newkirk dike for 609 meters with an average
thickness of 5 m.
Figure 1: Location of acquired claims shown in yellow.
J.C. St-Amour, President of Infinite Ore commented, “This property acquisition adds
to our existing historical resources of 2,000,000 tons grading 1.09% Li 2O*. We are
pleased to be able to provide our shareholders an exposure to lithium, gold and base
metals exploration through our Jackpot and Eastern Vision properties.”
The Company’s 100% owned Jackpot Lithium project is located in close proximity to
the Georgia Lake lithium deposit, for which Rock Tech Lithium Inc. recently announced
its intent to develop a lithium sulphate production facility located in Thunder Bay,
Ontario.
Infinite Ore acquired the claims through payments to an arms-length party of $10,000
cash and 300,000 common shares. The vendor retains a royalty of 1.0% on revenue
generated from non-smelter elements from the Jackpot Claims and a 1.0% NSR. This
may be purchased at any time for $500,000.00.
Qualified Person
The technical content of this news release was approved by Michel Boily, PhD, P.Geo,
an Independent Qualified Person as defined by the National Instrument 43-101.
* The estimates presented above are treated as historic information and have not been verified or relied
upon for economic evaluation by the Company. These historical mineral resources do not refer to any
category of sections 1.2 and 1.3 of the NI -43-101 Instrument such as mineral resources or mineral
reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The
explanation lies in the inability by the Company to verify the data acquired by the various historical
drilling campaigns. The Company as not done sufficient work yet to classify the historica l estimates as
current mineral resources or mineral reserves.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring
world-class mineral projects. The company is earning into a large land package with
the potential for VMS and gold mineralization in the Confederation Lake assemblage
belt near Red Lake, Ont. The company also holds the Jackpot lithium property located
near Nipigon, Ont.
ON BEHALF OF THE BOARD
“J.C. St-Amour”
J.C. St-Amour, President
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
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 re sponsibility 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 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).