Developing World-Class Lithium Projects in Canada
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Infinite Lithium Corp.(TSXV:ILI) is a junior mining exploration company focused on seeking and acquiring lithium projects across the world. The company has four lithium projects that they are developing in mining-friendly jurisdictions in Canada and Mexico. Infinite Lithium is looking to provide ethically-sourced lithium to companies that are developing lithium-ion batteries.
The global lithium market is expected to grow at a compounded annual growth rate (CAGR) of 12.93 percent between 2018 and 2022. The growth in the lithium market is due to the forecasted growth of electric vehicle (EV) sales from $1.1 million in 2017 to $30 million in 2030. However, many analysts are concerned that the supply of battery materials cannot keep up with the demand. For example, according to Albemarle the demand for lithium-ion batteries from the EV industry is expected to grow at an annual rate of 20 to 30 percent through 2024.
Infinite’s flagship property is the Jackpot lithium project in mining-friendly Ontario. The property is easily accessible and has a large pool of labor to pull from as the property is approximately 140 kilometers away from Thunder Bay. The property also hosts a historical resource of two million tonnes grading 1.09 percent lithium oxide at Dyke #2. Infinite Lithium is currently working on expanding the historical resource in order to complete a maiden 43-101 resource for the property as well as completing a preliminary economic assessment (PEA). The property is showing some excellent potential as the exploration program has uncovered several mineralized surface pegmatite dykes and has been focused on building tonnes. Surface mining is low cost relative to other mining methods and Infinite Lithium sees this as a key differentiator over other lithium projects in Canada.
Also in Canada, Infinite Lithium owns lithium properties in Quebec and Manitoba. Their Preissac-Lacorne property is comprised of four areas located in proximity to the towns of La Motte, La Corne, Preissac, Figuery and Landrienne, Quebec. Since the early 1950s, multiple junior exploration companies have conducted a variety of explorations on the property. The La Corne 3 zone has a historical resource of 75,000 tonnes grading 1.45 percent lithium oxide. Infinite has granted an option to Jourdan Resources to earn up to 75% of Priessac-LaCorne. Additionally, the company’s Cross Lake lithium property in Manitoba has seen historical drilling and offers exploration opportunities.
Finally, Infinite Lithium has a lithium property in Sonora, Mexico that is comprised of three concessions and is adjacent to Bacanora Minerals Ltd. (LSE:BCN) and Rare Earths Minerals PLC.’s (REM) Sonora lithium project. The company and its partner Lithium Australia NL (ASX:LIT) are focused on exploring the Agua Fria concession where values of 712 ppm lithium and 2.6 percent potassium over 146.5 meters and 758 ppm lithium and 2.3 percent potassium over 103.2 meters were recovered from trench three in the 2017 trenching program.
Infinite Lithium’s management team has over 30 years of combined experience in the mining industry. Management and insiders also notably hold approximately 20 percent of the company shares.
- Operating in mining-friendly jurisdictions in Canada and Mexico.
- Historical resources on multiple properties.
- Historical resource of two million tonnes at 1.09 percent lithium oxide at Dyke #2 at Jackpot.
- Numerous mineralized surface dykes at the Jackpot property
- Significant lithium values at the Jackpot property include, 2.08%, 1.02%, 2.01%t and 2.82% lithium oxide.
- Working towards the completion of a maiden resource and PEA for Jackpot property.
- Infinite Lithium retains a 10 percent interest in any patented or unpatented lithium extraction technologies used or developed at the Electra project.
- Electra’s Agua Fria concession trench assay results included 712 ppm lithium and 2.6% potassium over 146.5 meters and 758 ppm lithium and 2.3 percent potassium over 103.2 meters.
- Shareholder Commodity Capital holds approximately nine percent of the shares.
- Management and insiders hold approximately 20 percent of the shares.
Jackpot Lithium Project
In April 2016, Infinite Lithium acquired the Jackpot lithium property from an arms-length vendor. The property is located in the Georgia Lake area which is approximately 140 kilometers north of Thunder Bay, Ontario. The property has access to the Trans-Canada Highways which is approximately 12 kilometers and has access to a main railway line which connects to the port town of Nipigon, on Lake Superior.
Lithium was first discovered near Georgia Lake in 1955. The Ontario Lithium Company Ltd. drilled 32 holes on the property that same year, confirming the presence of two spodumene-bearing granitic pegmatites; one at the surface (Dyke #1) and one beneath Dyke #1 (Dyke #2). A historical resource was developed in 1956 by Ontario Lithium for Dyke #2 that reported a resource of two million tonnes that graded 1.09 percent lithium oxide.
Then in 2016, approximately 90 kilograms of spodumene-bearing granitic pegmatite rocks were collected and sent to the lab. Five of seven samples returned significant lithium values, including 0.85 percent, 2.08 percent, 1.02 percent, 2.01 percent and 2.82 percent lithium oxide. A total of 15 drill holes, totalling approximately 2,052 meters, have been completed on the property to-date. Only one drill hole out of the 15 tested did not contain a significant spodumene-bearing pegmatite intercept.
Currently, Infinite Lithium has an ongoing work program including drilling (47 holes to date) and numerous trench sampling sites. Near term exploration on the main Jackpot property including: Jackpot, Casino Royal, Blackjack, Slots, Roulette and Dealer areas. Current drilling at Jackpot intersected 7.23 metres at 2.47% Li2O (at surface). Other new discoveries of spodumene bearing targets include grab samples of:
- 33% Li2O at Casino Royal
- 26% Li2O at Slot
- 28% Li2O at Roulette
- 41% Li2O at Dealer
Importantly, all of these targets are at surface mineralized dykes. In addition to the surface dykes Infinite Lithium has identified multiple dykes at depth and these are being targeted in the current drill program as well. Infinite Lithium is hoping to complete a maiden resource estimate for the property as well as a PEA in the near future.
Electra Lithium Project
The Electra property is comprised of three concessions: the Tule, Tecolote and Agua Fria. In October 2015, Infinite Lithium acquired two large exploration concessions from a Mexican company based in Hermosillo, Sonora, Mexico. The concessions are adjacent to the Sonora lithium project which is owned by Bacanora Minerals Ltd.’s and Rare Earths Minerals PLC. It is also believed that the Tule and Tecolote concessions are extensions of the lithium-bearing structures that have been found at the Sonora project. One year later, Infinite Lithium acquired the Agua Fria concession, which overlaps with the southern portion of the Tule concession.
Lithium Australia partnership
In April 2016, Infinite Lithium signed a definitive agreement with Lithium Australia NL to explore and develop the Electra project. Lithium Australia will earn a 49 percent interest in the Electra project and has the option to further increase its interest to 65 percent through the issuance of shares, spending $1.5 million in expenditures or through a cash payment of $250,000. The agreement also included a 10 percent interest in any patented or unpatented lithium extraction technologies used or developed in relation to the Sonora Project be granted to Infinite Lithium. Currently, Lithium Australia has a 54 percent interest in the Electra property.
Based off of presentations from Bacanora and REM, there are four lithium-bearing beds that extend for several kilometers south of the Sonora property and the 18,125 hectare Tule concession covers three of these lithium-bearing beds. Additionally, a 2016 work program identified sedimentary beds that were on trend and similar to those found at Bacanora’s La Ventana deposit.
The Tecolote concession is comprised of approximately 4,500 hectares and is located north of the Buenavista concession at the Sonora project and the village of Huasabas. Intercepts at the Buenavista concession have returned values between 1,018 ppm lithium and 2,210 ppm lithium, which Bacanora believes extends north through the Tecolote concession. The Tecolote concessions cover approximately seven kilometers of this stratigraphic trend.
In 2016, Infinite Lithium conducted a work program that returned samples that contained anomalous lithium values including 211, 162.5 and 71.2 ppm lithium. The program also included assay results that returned values as high as 246 ppm lithium and confirmed targets that could contain economic lithium-bearing, clay-rich horizons. Furthermore, the sampling program identified two target areas located in the Central Basin, which is underlain by the target sedimentary sequence. The area between the two targets has been mapped and displays evidence that it bears the same prospective sedimentary sequence as the two outlined targets.
Agua Fria concession
Infinite Lithium is currently focusing its exploration efforts on the Agua Fria concession. In early 2016, it was discovered that the Agua Fria concession overlapped the southern portion of the Tule concession. The concession offers high lithium values and hosts a clay zone that contains anomalous potassium values, which may be recoverable as potassium sulphate, a major component in NPK fertilizers. Significant results from the northern clay mineralization include 247, 353 and 880 ppm lithium and from the southern mineralization 950 and 1,000 ppm lithium.
In 2017, a trenching program was conducted on the southern section of the concession where 319.7 meters of samples were collected from four trenches. Notable results from trench three include: 712 ppm lithium and 2.6 percent potassium over 146.5 meters and 758 ppm lithium and 2.3 percent potassium over 103.2 meters.
Metallurgical results from the 2017 work program included the results from a preliminary sulphuric acid shaker test that was conducted over a period of four hours and returned 85 percent of the lithium. The tests further indicated that thermal pretreatment will not be required. Additionally, moderately increasing the temperature and residence time could improve the recovery rate to 90 percent.
Finally, Infinite Lithium has conducted a maiden drill program on the concession. The program included a total of 16 holes for a total of 1,762 meters which concentrated along six kilometers of lithium-rich sediments. The highlight from the program were the discoveries at the West Flank zone. The zone is 25 to 50 meters thick and shallow dipping and provides the potential to define a significant near surface resource.
Preissac-Lacorne Lithium Project
In June 2016, Infinite Lithium acquired the Preissac-Lacorne portfolio, which is comprised of four properties, from arms-length vendors. The claims cover 6,292 hectares and are situated around the towns of La Motte, La Corne, Preissac, Figuery and Landrienne. The properties are accessible by paved roads that connect to Highway 117. The region also hosts several precious and base metals mines and has access to the infrastructures and workforce necessary to support a mining operation.
Since the early 1950s, multiple junior mining companies, such as American Lithium Corporation, International Lithium Mining Corp., Duval Lithium, QLC and Quebec Lithium, have completed a variety of exploration programs that have included geophysical and geochemical testing on the four properties. Numerous lithium spodumene-bearing granitic pegmatite occurrences, showings and prospects have been identified on each property. The core of the claim group is located 40 kilometers northeast of the town of Val d’Or.
La Corne 1
The La Corne 1 is located near the town of Figuery. Mineralization on the property consists of spodumene-rich sub-horizontal, irregular dykes. In the 1950s, International Lithium delineated a 3.7-meter thick, 119 meter by 104 meter which provided a historical resource estimate of 135,000 tonnes grading at 0.95 percent lithium oxide.
La Corne 2
The La Corne 2 property is located near the town of La Motte. The property feature granitic pegmatites dykes that are 0.60 to 1.20 meters thick and contain 15 to 30 percent spodumene and traces of beryl. Drilling on the property has returned assays of 1.65 percent lithium oxide over one meter and 1.12 percent lithium oxide over 1.32 meters.
La Corne 3
The La Corne 3 is also located near the town of La Motte and features two granitic pegmatite dykes that are rich in spodumene and contain traces of tantalite and beryl. In 1955 Ascot Metals completed a drilling program that consisted of 27 holes over the dykes. Dyke #1 returned an assay of 1.45 percent lithium oxide and Dyke #2 returned a value of 0.57 percent lithium oxide. La Carne 3 has a historical resource of 75,000 tonnes grading at 1.45 percent lithium oxide.
La Corne 4
The Quebec Lithium West Lithium Project is adjacent to RB Energy’s Canada lithium mine which is located near the town of La Corne. The RB Energy lithium mine has a measured and indicated resource of 29.3 million tonnes grading 1.19 percent lithium oxide and an inferred resource of 20.9 million tonnes grading 1.15 percent lithium oxide.
Cross Lake Lithium Project
In August 2016, Infinite Lithium acquired the Cross Lake Property from two arms-length vendors. The property is comprised of one mineral exploration license that covers 5,040 hectares. The property is located approximately four kilometers southwest of the community of Cross Lake and overlaps the Cross Lake pegmatite field, including the Liz Lithium prospect, which is located in the southwestern corner of Cross Lake.
Between 1970 and 1981, Tantalum Mining Corporation of Canada Ltd. (TANCO) conducted a variety of exploration and drilling programs on the property and operated the TANCO mine, which was North America’s largest producer of spodumene, tantalum and cesium. Between 1980 and 1981, Tanco drilled 23 holes for a total of 2,483 meters where several of the holes intersected spodumene.
TANCO’s documentation of the spodumene showings and additional geological data gathered from their drilling program provide Infinite Lithium a compelling target that requires additional exploration.
Michael B. England — President & Director
Michael England has been involved in the public markets starting in 1983 working on the floor of the Vancouver Stock Exchange as a floor trader after successfully completing the Canadian Securities, Options and Futures Courses. Since 1995, England has been involved directly with public companies serving various roles including investor relations, CFO, Directorships and Presidencies and has raised in excess of $20 million to date for exploration and acquisitions.
Gerhard Jacob, M.Sc. — Director
Gerhard Jacob is a seasoned professional with almost 30 years of experience in the mining and exploration industry. He has worked and evaluated numerous projects around the globe plus has extensive management experience. During his career, Jacob served on the board of several junior companies and as a lead advisor. His most recent directorship was with Pure Energy Minerals and has worked on lithium projects since 2011. Jacob holds an MSc. in Geology and Geochemistry from the University of Goettingen, Germany.
John Masters — Director, CFO & Corporate Secretary
John Masters brings over a decade of experience working with public companies to the board. He is a Director, CFO and Secretary of Infinite Lithium Corp., CFO and Secretary of Ashburton Ventures Inc. and a Director of Sienna Resources Inc.
Dr. Michel Boily, M.Sc., Ph.D., P.Geo. — Director
Dr. Boily has worked extensively on pegmatites and lithium occurrences in the Province of Quebec over a 30 year time frame. He is an expert geochemist and metallogenist specializing in the interpretation of precious and rare metal deposits of Precambrian volcano-plutonic terranes. He has also conducted exploration and technical evaluation of gold and base metals properties located in Archean greenstone belts of Quebec, in the Anti-Atlas Proterozoic windows of Morocco, in Northern Mexico and Argentina. Dr. Boily graduated from the Universite de Montreal in 1988 with a PhD in geochemistry. Since 1984, Dr. Boily has been the author of various publications in international scientific journals and has written numerous technical reports. Dr. Boily is currently a registered Professional Geologist in good standing with l’Ordre des Géologues du Québec.
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