Another possible major play added to ILI
hopefully drilling will prove the value
"Infinite Lithium Corp. has acquired a 100-per-cent interest in a package of two additional strategic claim groups known as the Dixie 3 and Ben Lake properties from Pistol Bay Mining Inc., located in the Red Lake mining district. The Dixie 3 property is approximately 18 kilometers east of the eastern boundary of Great Bear Resources Corp.'s Dixie Project, and approximately 22 kilometers north-east of the active drilling by BTU Metals Corp. on the recently reported TNT volcanogenic massive sulphide (VMS) target. The Ben Lake property is contiguous to the north of the Company's recently acquired "Eastern Vision" properties.
The Dixie 3 and Ben Lake properties are contiguous and comprises 178 single-cell mining claims and 3 boundary cell mining claims, covering approximately 3,680 hectares. Both properties have multiple known VMS mineral occurrences, electromagnetic (EM) and magnetic geophysical anomalies, and favorable alteration patterns. Both properties also have excellent access and logistics from Red Lake or Ear Falls.
The Dixie 3 property hosts the Dixie 3 VMS zone which, to the best of the vendors knowledge, was not assayed for gold. A number of mineralized zones or targets defined by historic diamond drilling, including:
Breccia Zone, with 3.63% Zn over a intercept of 2.0 metres;
Ten Mile Zone, with a 4.0 metre intercept of 1.25% Zn and 0.11% Cu;
Dixie South - West Zone, with a 24 metre intercept of 0.57% Zn and 0.05% Cu;
Dixie South - Central Zone, with 0.95% Zn over a intercept of 18.4 metres;
Dixie South - East Zone, with a 28 metre intercept of 0.50% Zn and 0.04% Cu, including 5.2 metres of 1.9% Zn and 0.11% Cu;
South Zone Vent Breccia, intercept averaging 6.5 metres of 1.96% Zn;
Vent Zone, with a 30.5 metre intercept of 1.1% Zn and 0.08% Cu.
In 2008, Tribute Minerals carried out a Titan-24 DCIP and MT survey over the Dixie 3 area covering approximately one-sixth of the property. The results of the DCIP were filed for assessment work and demonstrated two target areas at depths of between 300 and 600 metres.
The Ben Lake property covers prospective alteration in rock samples favorable for VMS mineralization with a portion of the property and the contiguous "Eastern Vision" property covered by a high resolution VTEM airborne electromagnetic survey, flown in 2017.
The Company is acquiring a 100% interest in the claims comprising the Dixie 3 and Ben Lake properties from an arms-length party through payments of $100,000 cash over a 6-month period and the issuance of 2,000,000 shares. The underlying vendor retains a .5 % Net Smelter Royalty ("NSR") on Dixie 3 which can be bought for $400,000 at any time and a 1.5% NSR on Ben Lake, half of which can be bought back for $400,000 at any time."
