ILI's M&A reported today the report discusses all projects but the review of drilling of Jackpot holdings are looking exceptionally promising. The actual hole by hole assays are listed but I cannot copy and past. Go to Sedar for DD.
On January 18, 2018, the Company signed an agreement to acquire a 100% interest in certain claims surrounding its 100% Jackpot Property located in the Georgia Lake area within the Thunder Bay Mining Division, Ontario. The additional land increases the size of the Property to 256 hectares Terms of the 100% acquisition of the new lands call for issuance of 600,000 shares to the vendors plus the granting of a 2% NSR of which the Company may purchase back 1% for $1,000,000. On March 1, 2018, the Company announced initial results from the first 5 drill holes of the ongoing Phase 1 drilling program which began in December 2017. This program is aimed at confirming and expanding on the historical drilling (1955) at the Jackpot Property. Results from the Phase 1 drilling program will be used to guide future drilling and to complete a National Instrument 43-101 Technical Report and Mineral Resource Estimation. Five (5) drill holes, totalling 681 metres, are now available for reporting as follows:
These five drill holes are approximate twins of historic drill holes as follows: J-17-01: twin of historic hole 425; J18-01: twin of historic hole 426; J-18-02: twin of historic hole 427; J-18-03: twin of historic hole 428; J-18-04: twin of historic hole 429. A total of twelve (12) drill holes, totalling approximately 1,700 metres, have been completed to date and results will be released as assays become available. Locations of the Phase 1 drill holes are designed to support historic drilling results, assist in modelling the orientation of the pegmatites, and provide a more robust understanding of the property’s potential. Drilling to date confirms the presence of the two pegmatite dykes, one near or at surface and relatively flat-lying, and the second striking approximately east-northeast and dripping shallowly to the northwest. On April 18, 2018, the Company announced further drill results from holes J-18-06 through 15 of the ongoing Phase 1 drilling program which began in December 2017. A third lithium-bearing pegmatite zone has been discovered (drill hole J-18-13: 3.02% Li2O from 232.65-237.65m) which will be targeted as part of the current drilling program Results from the Phase 1 drilling program are being used to guide future drilling and to complete a National Instrument 43-101 Technical Report and Mineral Resource Estimation.
A total of 15 drill holes, totalling approximately 2,052 metres, have been completed to date and all results are now reported. All but one drill hole (J-18-09) contained significant spodumene-bearing pegmatite intercepts. Locations of the drill holes are designed to support historic drilling results, assist in modelling the orientation of the pegmatites, and provide a more robust understanding of the Property’s potential. Drilling to date confirms the presence of the three pegmatite dykes, one near or at surface and relatively flat-lying (Dyke #1), the second striking approximately east-northeast and dripping shallowly to the northwest (Dyke #2), and a third pegmatite dyke (Dyke #3) below
