i3 Interactive Inc BLITF

[Updates June 2017]

[muchogusto]

According to Smallcaps.ca:
ROME:
In late May 2016, Fairmont entered into an option agreement to acquire 100% of the Rome lithium property located 60 km north of Val d'Or, Quebec. Initial consideration was 500,000 Fairmont shares and $25,000. Going forward another 1,000,000 shares are payable within the first year and $150,000 must be spent on exploration within 36 months. The optionor also retains a 2% production royalty. The Rome property is contiguous to two promising lithium plays including North American Lithiums mine with measured and indicated resources of 41.6 million tonnes at 1.09% Li2O. In June 2017, North American Lithium announced commercial production for spodumene concentrate, an 80% production offtake agreement, a go public transaction via RRD.H:TSX-V, and a minimum $25 million equity financing.

During 2015 drilling at Forestville was carried out to confirm the size and quality of the SiO2 deposits. Four different zones were drilled and three had quartzite intersections of at least 21m including one intercept of 60m in Zone D. Several drill holes ended in quartzite, leaving the zones thickness uncertain. Initial assay results confirmed that the quartzite tested on the property was suitable for ferro-silicon production.
Several new zones of quartzite have been identified and extensions to historical and new zones were staked. Permits have been applied to put a 7 km road into the main target zone. Two potential customers have now visited the quartzite properties, with an additional 3 potential customers receiving material for testing.
As is the case at the Forestville property, the Baie-Comeau property contains a quartzite derived from a metasedimentary package. Although chemically very similar to the Forestville property, the physical characteristics of the quartzite is quite different at Baie-Comeau. Historical sampling on the property has assayed up to 99.09% SiO2. The site has been visited by end users in the quartz countertop industry and by end-users of silicon metal and ferro-silica.

In March 2017, Fairmont and PCC SE signed a quartz evaluation agreement to validate the chemical and thermal stability of the Baie Comeau and Forestville quartzite projects; and to evaluate the commercial feasibility of a mining operation and logistics. If results are positive, a larger volume of material would be tested to be considered for use in PCCs silicon metal project in Iceland.