Infinite Ore Conducts VTEM Plus Survey Extends and Reprices Warrants
Infinite Ore Conducts VTEM Plus Survey
Extends and Reprices Warrants
November 26, 2020 Vancouver, BC, Canada – Infinite Ore Corp. (the “Company”)
(ILI-TSX:V) (OTCQB:ARXRF) is pleased to announce that it will conduct a VTEM Plus
geophysical survey on its Eastern Vision project located in the Red Lake, Ontario Gold
Belt. Eastern Vision covers large parts of the Birch-Uchi greenstone belt to the east
of the high-grade gold discovery on the Dixie property held by Great Bear Resources
Ltd. Results from the VTEM survey as well as the recently announced Spacio-temperal
Geochemical Hydrocarbon (“SGH”) survey (see PR dated November 3, 2020) will be
used to identify additional targets for an upcoming drill program.
VTEM (Versatile Time Domain Electromagnetic) is a system which generates currents
that diffuse deep into the earth and take the path of least resistance. Conductive
material absorbs the currents and releases a secondary field that the VTEM system
measures. The Brich-Uchi greenstone belt has yielded both gold mineralization (e.g.
Dixie property) as well as VMS style mineralization (e.g. Garnet Lake deposit). T he
Company plans to search for both gold mineralisation and other VMS deposits that
may exist in the area.
J.C St-Amour, President of Infinite Ore commented, “The Birch-Uchi greenstone belt
has been historically explor ed for base metals, however new high -grade gold
discoveries in the area have demonstrated the potential for more gold discoveries .
The VTEM and SGH survey’s will assist us in developing our next drill program.”
In addition, the Company announces that it intends to extend and reprice 39,000,000
warrants (the “Warrants”) that were issued in pursuant to private placements that
closed on December 22, 2017. The Warrants have an exercise price of $0.20 and are
due to expire on December 22, 2020. The Company intends to amend these warrants
to have an exercise price of $0.16 per Warrant and extend to expiry date to December
22, 2022. The extension and repricing are subject to TSX Venture Exchange approval.
The Company further announces that a NI 43-101 geological report o n the Garnet
Lake property has been completed and, as required by the TSX.V regulators, has been
submitted for review.
Dr. Michel Bolly, P. Geo, is the qualified person as defined by National Instrument 43-
101 has designed and is managing the current exploration program on behalf of the
Company and is responsible for approving the technical contents of this press release.
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 responsibility for the adequacy
or accuracy of this release.
FORWARD LOOKING STATEMENT S: 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).