VANCOUVER, BC / ACCESSWIRE / June 11, 2020 / Infinite Ore Corp. ("ILI" or the "Company") (ILI-TSX:V) (OTCQB:ARXRF) announces a clarification of its inaugural 1,250 metre diamond drill program news release dated earlier today. The phase one diamond drill program will commence within a week and aims to confirm and expand on the VMS mineralized zones, test for gold mineralization, and refine the Leapfrog 3D model.
Disclosure that is "non-NI 43-101 compliant" cannot be disclosed under Canadian securities law. The previously released disclosure should have been disclosed as a "historical estimate" providing all disclosure required by NI 43-101, 2.4(a) to (g) - Disclosure of Historical Estimates:
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.
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, and publicly available company reports. The Qualified Person has not completed sufficient work to verify the historic information on the Property, particularly in regards to the historical drill results and historical resource estimates. However, the Qualified Person believes 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.
Mr. Kelly Malcolm, P.Geo, 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.
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.
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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https://www.accesswire.com/593621/Infinite-Ore-Clarifies-Inaugural-Drill-Program-on-Fredart-in-Red-Lake-Mining-District-Release
