ILI.v $ARXRF Stockwatch Diamond & Specialty Minerals Summary for Dec. 17, 2021
2021-12-17 18:38 ET - Market Summary
by Will Purcell
J.C. St-Amour's Infinite Ore Corp. (ILI) fell 1.5 cents to 13.5 cents on 5.1 million shares on word that it has a finite number -- three -- of targets identified as "zones of interest" on its Jackpot lithium project, near Nipigon in Northwestern Ontario. These features, enthuses Mr. St-Amour, president, "demonstrate the expansion potential" of the project. "We are convinced that [the] pegmatites have the same source, increasing the potential for resource expansion," he cheers, adding that the company is looking forward to drilling as early as possible next year.
This new drilling would follow 15 holes completed in 2018, tests that yielded assays as high as 2.47 per cent lithium oxide over 7.23 metres and 3.02 per cent over five metres. The tests averaged 1.28 per cent lithium oxide over intervals that varied from one to 10.65 metres. Those numbers were encouraging, as a historical resource on the property, prepared in the mid-1950s, listed a far-from-infinite two million tonnes at an average of 1.09 per cent lithium oxide. The new drilling is being designed to expand that resource -- and presumably make it compliant. As well, Mr. St-Amour will be chasing newly discovered areas with his drills.
