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”) (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 variable amounts of garnet and green-black amphibole. Intermediate metavolcanic rocks are also variably sericitized. Rocks within the mineralized zone are highly strained, sheared, fissile, boudinaged, and folded.”
  • The following is a list of the best historical drill results presented in the NI 43-101 report:

DDH No

From (m)

To (m)

Width (m)

Cu (%)

Ag (g/t)

FA-1965-05

42.06

46.02

3.96

1.14

49.9

FA-1965-06

53.95

77.11

23.16

1.02

16.9

FA-1965-07

48.16

63.86

15.7

1.41

32.7

FA-1966-11

73.43

84.95

11.52

2.23

103.3

FA-1966-13

101.35

106

4.65

2.05

24.5

FA-1966-15

32.19

72.6

40.41

1.4

21.1

Including

46.63

62.85

16.22

2.67

48.3

FA-1966-18

31.09

51.51

20.42

1.7

82.5

And

63.09

77.3

14.21

1.4

47.6

FA-1966-26

61.57

68.37

6.8

1.5

37.3

FA-1966-31

53.28

69.01

15.73

1.16

28.4

FA-1966-34

73.03

77.63

4.6

1.14

14.7

FA-1966-52

30.5

68.17

37.67

0.58

10.3

Including

30.5

43.83

13.33

1.04

21.3

FA-1969-79-15

182.7

196.88

14.18

1.72

21.38

Including

191.39

193.83

2.44

8.71

111.97

The Qualified Person has not verified the data disclosed, through sampling, analytical, nor test data. The information was obtained from assessment reports submitted to the Ontario government. The Qualified Person has not completed sufficient work to verify the historic information on the Property, particularly in regards to the historical drill results. However, the Qualified Persons believe that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

The Fredart property is covered by VTEM-plus (versatile time-domain electromagnetic) and flown by Geotech Ltd. in April 2017. Geotech’s VTEM-plus system delivers more power into the ground and a better signal-to-noise ratio than previous VTEM systems, resulting in greater depth penetration and better conductor resolution, resulting in numerous high-priority conductive targets that warrant drilling.

Recommendations in the NI 43-101 report include a re-interpretation of the VTEM+ heliborne survey completed in 2017, to integrate 3D inversion models (eg.: of conductance, resistivity, Tau, magnetic intensity) to a 3D geological and structural model of the property. Furthermore, the Company will incorporate the available geological, structural and lithogeochemical data extracted from the historical drill logs into a Leapfrog 3D model.

“The historic drilling on the Fredart property resulted in very high grades over substantial widths and we look forward to starting our drill program. Neighbouring companies such Great Bear Resources and Pure Gold are actively exploring and delivering excellent results in the Red Lake District and we are keen to begin exploring in such a prolific mining camp.” stated Mike England, CEO of Infinite Ore.

Mr. Kelly Malcolm, P.Geo (Ontario), is the Qualified Person as defined by National Instrument 43-101 who has examined and reviewed the recent NI 43-101 report and geological information available from public sources related to the property, and is responsible for approving the technical contents of this press release. The Qualified Person has not completed sufficient work to verify the historic information on the Property, particularly in regards to the historical drill results. However, the Qualified Persons believe that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

About Infinite Ore Corp.

Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects globally. The company’s current focus is on properties with the potential for VMS mineralization in the Confederation mineral belt near Red Lake, Ont., as well as the Jackpot lithium property located near Nipigon, Ont.

We seek Safe Harbor.

ON BEHALF OF THE BOARD
“Mike England “

Mike England, President and CEO

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 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 of 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).

SOURCE: Infinite Ore Corp.

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