- Completion of initial scoping of Buda Pegmatite Project; delivery of 55 samples for assay.
- Commencement of work program at Galaxy Pegmatite Project.
- Completion of geochemical survey of Zen-Whoberi Copper-Cobalt Project.
- Appointment Michael Townsend, the Company’s largest single shareholder at over 17%, as Executive Chairman of Infinity Stone.
Vancouver, British Columbia–(Newsfile Corp. – August 2, 2022) – Infinity Stone Ventures Corp. (CSE: GEMS) (OTC Pink: TLOOF) (FSE: B2I) (“Infinity Stone” or the “Company“) is pleased to provide an update on current exploration activities and announce the appointment of Michael Townsend as Executive Chairman of the Company. Infinity Stone has been very active in terms of exploration over the past three months and continues to pursue further exploration on its growing portfolio of energy metals mineral projects. The continued strength in the energy metals market has reaffirmed the Company’s strategy of focusing on the critical minerals needed to fuel the electrification of the global economy. Hard-rock lithium concentrate, a particular focus of the Company, has shown strength, with recent auction prices for 6% spodumene concentrate exceeding USD$7,000 per dry tonne over the past weeks. (1)
Buda Pegmatite Project
Infinity Stone initiated exploration on the Buda Pegmatite Project, located 50km west of Thunder Bay, in late June 2022. Following the initial weeks-long work program that included prospecting, sampling, hand stripping, and channel sampling, the Company has sent 55 samples for assay to AGAT Laboratories, and expects to receive results in the coming weeks. The work program sampling focused on the Buda Occurrence and the Steep Rock Occurrence.
- The property hosts 7 LCT (lithium-cesium-tantalum) pegmatites mapped in the early 1980s.
- Historic sampling data reveals elevated values of lithium, cesium, tantalum, niobium, and rubidium. Systematic testing for lithium was not completed in past programs.
- Steep Rock Main Pegmatite Dike, the largest known pegmatite dike on the property, is 450 metres in strike length with an apparent width varying from 40 to 140 metres. (2)
- Buda Dike has an exposed strike length of 360 metres and a maximum exposed thickness of 25 metres. (2)(4)
- The property is located 50km from Thunder Bay, Ontario, where intends to build a new lithium refinery. (3)
- The property is located 26km north of Infinity Stone’s Rockstone Graphite Property.
Galaxy Pegmatite Project Work Program
Infinity Stone has mobilized an exploration team to the Galaxy Pegmatite Project in Southern Quebec, approximately 45 kilometres northwest of Mont-Laurier, Quebec (the “Galaxy Project“). Initial exploration work will include prospecting, sampling, hand stripping, and channel sampling. All samples collected will be assayed for lithium, niobium, tantalum, rubidium, as well as other elements thought to be contained within these pegmatite intrusions. The program will also include the collection of at 150kg bulk sample for further metallurgical processing.
There is excellent access to all parts of the Galaxy Project from road La Vérendrye 13, via the Trans-Canada Highway (Hwy QC-117), which traverses roughly through the middle of the property. The Galaxy Project is underlain by at least 30 pegmatite exposures representing 30 pegmatite dikes of Laurentian or more recent rocks of the Precambrian Grenvillian Series. The general strike of the formation is in a northwesterly direction with a near vertical dip. The five minerals associated with the pegmatites are lepidolite, columbite, samarskite, euxenite, and thorianite. The property is largely covered by quaternary till. (5)
The Company is pleased to announce that it has received assay results from the geochemical survey carried out at the Zen-Whoberi Project during the work program announced June 6, 2022. The geochemical survey consisted of a soil sampling program of approximately 1,000 soil samples on a 2km squared grid with 25-metre-spacings. With the assay results received, Infinity Stone is in the process of plotting the results on a geochemical map and completing the relevant assessment. The Company intends to provide further update on the results in the coming weeks.
Appointment of Michael Townsend as Executive Chairman
Mr. Townsend has been a director of the Company since April 2022 and has evidenced his commitment and support to the Company, having acquired just over 17% of the Company’s issued and outstanding shares.
“Mr. Townsend has been a long-time shareholder and supporter of Infinity Stone and has been instrumental in the Company’s renewed focus on mineral exploration and energy metals,” said Zayn Kalyan, CEO of Infinity Stone. “We value Mr. Townsend’s extensive experience in the junior mining sector and his track record of success and significant creation of shareholder value,” further stated Mr. Kalyan
(2) Bernatchez, R.A., 1981. “Geological mapping of the Peterson-Skalesky feldspar property for Steep Rock Iron Mines Limited, Atikokan, Ontario”. MNDM Assessment Report 51A12NW0003.
(3) Avalon Advanced Materials Inc news release dated April 4, 2022: “Avalon announces partnership agreement to establish Ontario’s first regional Lithium Battery Materials Refinery in Thunder Bay”
(4) Carter, M.W., 1990. “Geology of Goldie and Horne Townships”. Ontario Geological Survey Open File Report 5720.
(5) Corminboeuf, F., 1956. Preliminary Report on Petawaga Mining Corporation. Quebec SIGEOM Report GM04222.
About Infinity Stone Ventures
Infinity Stone’s mission is to be a diversified, single source supplier for the critical energy metals being used in the clean energy revolution alongside its established SaaS solution portfolio. The Company’s primary business units include HealthCheck (Stratum Health Technologies LLC) and its energy metals portfolio. Infinity Stone is meeting the demand from battery and wind turbine manufacturers, nuclear and hydrogen energy producers, and energy metals speculators by acquiring 100% interest in critical mineral deposits and occurrences in stable mining-friendly jurisdictions, close to final use destinations in North American manufacturing hubs.
To register for investor updates please visit https://infinitystone.ventures.
Connect with Infinity Stone:
Infinity Stone Ventures Corp.
CEO and Director
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
Forward-Looking Statements Disclaimer
This press release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “projects”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements, including statements respecting: the Company’s intention to pursue further exploration on its growing portfolio of energy metals mineral projects; the Company’s strategy of focusing on the critical minerals needed to fuel the electrification of the global economy; the timing of results from the sampling program at the Buda Pegmatite Project; the initial exploration work program at the Galaxy Project; and the Company’s intention to provide a further update on the results of the soil sampling program at the Zen-Whoberi Project. Although forward-looking statements contained in this press release are based upon what management of Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements may also be affected by risks and uncertainties in the business of the Company, including those described in the Company’s public filings available on www.SEDAR.com. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/132554
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