Diamond & Specialty Minerals Summary for March 2, 2018
2018-03-02 20:43 ET - Market Summary
by Will Purcell
Michael England's Infinite Lithium Corp. (ILI), up one cent to 21 cents on 11,000 shares, has received assays of up to 2.47 per cent lithium oxide over 7.23 metres at its Jackpot property in Northern Ontario. The assays are from the first five holes drilled in the company's phase 1 drill program, designed to confirm and expand upon historical results obtained in the mid-1950s. All five holes returned lithium grades, which is no surprise since all five tests were twins of historical holes.
Mr. England, president and chief executive officer, says that the new assays support the old results, adding that in some cases, the new grades are higher and occur over larger widths than the old results. All five holes produced assays topping 1 per cent lithium oxide, which Mr. England says is an important consideration when one contemplates the economic extraction of lithium from a hard-rock deposit. (While it is an important consideration, it is not a mandatory one, at least among Howe Street promoters.)