- 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, BC, August 2, 2022 – Infinity Stone Ventures Corp. (CSE:GEMS) (OTC: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 Avalon Advanced Materials Inc. 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.
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