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Infinity Lithium Corporation Limited (‘Infinity’, or ‘the Company’) is pleased to note the following progress in relation to the San José Lithium Project (‘San José’, or ‘the Project’) for the quarter ended 31 March 2023.
HIGHLIGHTS
- Exploration permit over San José granted.
- Entire project area now defined by granted tenure.
- Permitting milestone reinforces government and stakeholder commitment to the Project.
- The Company’s permitting strategy and pathway has been endorsed and clarified.
- Ongoing local community endorsement of the Project highlighted through independent opinion poll.
- The EU Critical Raw Materials Act to establish critical raw material and processing targets.
- The proposed legislation will define Strategic Projects which will benefit from streamlined permitting and access to EU funding.
- Cash at 31 March 2023 of A$13.9 million.
Exploration Permit Extremadura SE Granted
The Company welcomed the announcement from the Extremadura Regional Ministry of Ecological Transition during the quarter to grant the Exploration Permit Extremadura S.E (‘PESE’), which applies to the grounds inclusive of the resource area relating to San José. The Company’s senior Executive travelled to Spain and met with Regional and Local Government representatives to finalise technical assessment of key permit applications.
Infinity CEO and Managing Director, Ryan Parkin, commented “The award of this key permit validates Infinity’s administrative rights to advance San José, and provides the momentum to accelerate towards the next stages of the Project in concert with the Extremadura Lithium Decree Law.”
Figure 1: Project Area Investigation Permit Ampliación Valdeflórez (Blue) – Granted Exploration Permit Extremadura S.E. (Green) - Granted San José lithium deposit
The granting of the PESE provides absolute reference to right of tenure for an extended area for San José. The Project area now includes grounds inclusive of PESE and the Investigation Permit Ampliación Valdeflórez (‘PIAV’). Refer to Figure 1: Project Area for further details.
Any future submission of an Exploitation Concession Application (‘ECA’) notification will comprise areas contained within PESE and PIAV.
The CEO of Extremadura New Energies, Ramón Jiménez, commented "The granting of the Exploration Permit is a major milestone for the Project, providing clarity on the permitting and administrative process for a fully integrated lithium project in the heart of Cáceres. The Regional Government of Extremadura has pre-empted Europe’s move to accelerate the permitting process through the adoption of the Lithium Decree Law and we will continue to collaborate with major stakeholders to deliver a strategically essential project for the local and regional community, Spain and broader Europe."
San José fully complies with the Extremadura Decree Law to exploit and process lithium in the region of Extremadura. For further details refer to ASX announcement 3 October 2022.
Click here for the full ASX Release
This article includes content from Infinity Lithium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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Infinity Lithium
Overview
The electric vehicle (EV) revolution is well underway, and world governments are scrambling to create domestic supply chains to support it. The European market is rapidly expanding with enormous battery production capacity already committed and the European Union has aggressive goals to put at least 30 million zero-emission vehicles on the road by 2030. Still, consumer adoption isn’t the only problem — the EU needs a domestic lithium supply.
Infinity Lithium (ASX:INF, FRA:3PM) is an Australia-listed project developer that became the first to secure investments from the European Union to support the region’s plans for a domestic lithium supply chain. Lithium is a critical metal for producing high-capacity batteries that EVs require. One hundred percent of Europe’s battery chemical supply is currently imported, and such import reliance may become unsustainable as demand exponentially grows. The EU will require 18 times more lithium by 2030 and 60 times more by 2050.
Infinity Lithium is developing a fully integrated, industrial lithium project utilizing one of the EU’s largest hard-rock lithium deposits with the potential to supply the region’s growing lithium demand. Its San José Lithium Project comprises both hard-rock lithium mining and chemical processing on-site to produce close to 20,000 tonnes per annum (tpa) of lithium hydroxide. In addition, Infinity Lithium has developed novel sustainable lithium processing technologies, via its Infinity GreenTech subsidiary, that can potentially unlock previously unviable lithium deposits.
Focused on supporting Spain and the EU’s energy transition, Infinity Lithium’s project is located in the Extremadura region of Spain near the town of Cáceres. The processing plant will operate using the novel technologies Infinity has developed with the support of EIT Innoenergy and will allow for more sustainable processing operations compared to traditional and existing lithium processing practices.
In February 2022, test work conducted at Dorfner Anzaplan in Germany produced battery-grade lithium hydroxide from the feedstock at Infinity Lithium’s San José project. These results are significant as they indicate that Infinity’s project is the first in the EU to produce battery-grade lithium chemicals and proves the efficacy of its innovative, environmentally sustainable process.
The company understands the importance of an impeccable ESG rating and works closely with the local community to create an operation that adds value. In October 2021, Infinity’s project converted its mining activity to an underground extraction methodology to further improve its environmental credentials and meet the demands of the local community of Cáceres.
An experienced management team leads Infinity Lithium toward its goal of becoming a significant player in the European Union’s lithium supply chain. Experts in corporate management, resource extraction, and chemical engineering create a team capable of leading the company toward its goals.
Company Highlights
- Infinity Lithium is an ASX-listed project developer that became the first recipient of investment from the European Union to support its goals of creating a local lithium supply chain.
- The company has an integrated lithium project that includes resource extraction and processing at the same location. The project contains the second-largest known lithium hard-rock deposit in the European Union.
- Infinity Lithium has also developed novel, innovative and sustainable technologies for low-grade lithium chemical processing.
- Recent test work conducted by Dorfner Anzaplan and Infinity’s technical advisory committee demonstrated that the company’s project and its processing technologies produce battery-grade lithium, the first project in Europe to do so.
- Infinity Lithium is mindful of its ESG rating and works closely with the local community to minimize the project’s environmental impact and provide value to surrounding communities.
- An experienced management team builds confidence the company will achieve its ambitious goals of becoming a significant player in the EU’s lithium supply chain.
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High grade Assay Results Continue at Youanmi
- The latest batch of assays have been received from the 11,000m drilling program (both diamond core and reverse circulation) at the high gold-grade Youanmi Gold Project, located centrally in Western Australia’s prolific gold fields
- The recently-completed infill/exploration program aimed to improve resource confidence and open up corridors for resource growth; to underpin the Definitive Feasibility Study (DFS), and, additionally, provide sample material for ongoing metallurgical optimisation test-work for the DFS program
- Latest highlights from the program include:
- RXDD131: 4.38m @ 19.07 g/t Au from 387.98m,
- incl. 1.73m @ 41.43 g/t Au from 389.96m
- RXDD119: 4.56m @ 14.60 g/t Au from 220.64m
- RXDD115: 2.99m @ 21.11 g/t Au from 249.88m
- RXDD119: 4.0m @ 7.37 g/t Au from 162.0m
- RXDD132: 7.19m @ 3.90 g/t Au from 263.61m
- RXDD133: 2.83m @ 6.53 g/t Au from 431.00m
- RXDD128: 3.82m @ 4.51 g/t Au from 364.59m,
- incl. 1.73m @ 8.22 g/t Au from 364.59m
- incl. 1.73m @ 8.22 g/t Au from 364.59m
- RXDD122: 0.95m @ 13.50 g/t Au from 204.44m
- §These results further demonstrate the continuity of high- grade gold mineralisation along the Youanmi greenstone belt belt, and the potential for resource growth both at depth and along-strike, with discovery potential to the south
- 35,000m Step-up drill campaign well underway with the plan to bring forward ounces and increase the mine plan
The program focused on converting Inferred stopes at Pollard, United North and Youanmi Main to higher confidence Indicated classification and providing material for metallurgical testing for the upcoming Definitive Feasibility Study (DFS) – on track for H2 CY25.
This final consignment of diamond assay results are the fourth batch of assays results returned from the drill program and have been entirely drilled from the Pollard, Youanmi and United North areas (Figure 1).
Rox Resources’ Chief Executive Officer, Phillip Wilding, commented:
“It’s pleasing to round out the 11,000m RD and DD drilling program with another batch of excellent intercepts.
“More importantly, the program has significantly improved our knowledge of the high grade and underexplored Youanmi ore system, and shown that mineralisation remains open at depth.
“Next steps are to convert Inferred areas of the Resource to the higher confidence Indicated classification, and finalise key intercepts of sample material for metallurgical test work to feed into the Youanmi DFS.
“We are excited to have commenced the 35,000m Step-up program to potentially bring forward ounces in the mine plan and significantly increase the size of the Pollard ore zone.”
Youanmi Major Growth Drill program
Resource drilling has focused on converting selected Inferred stopes in the current Mineral Resource of 16.2Mt at 4.4g/t Au for 2.3Moz (Indicated: 10.7Mt at 4.5g/t Au for 1.6 Moz : Inferred 5.5Mt at 4.2g/t Au for 0.7 Moz) 1 to higher confidence Indicated classification at Pollard, United North and Youanmi Main as shown in plan on Figure 1. The drilling has also provided both sample material for metallurgical testing and valuable geological data for the pending Definitive Feasibility Study (“DFS”) planned for second half of 2025.
Figure 1: Plan view of the Youanmi Gold Project featuring drill hole collar locations and 2024 Resource outline overprinted on aerial photography
Outside of the immediate resource area, drilling was also conducted on near-mine exploration and focused on the Youanmi South prospect area, or Paddy’s Lode, first reporting high-grade intercepts in 20232. The drilling at Paddy’s has complimented the Company’s exploration strategy moving south along the Main Lode Shear Zone (MLSZ) and adding additional gold ounces to the Resource. Youanmi South has the potential to grow the Resource above the 103kozpa Production Target outlined in the recently completed Pre-Feasibility Study (“PFS”)3.
Click here for the full ASX Release
This article includes content from Rox Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
Click here for the full ASX Release
This article includes content from Alice Queen Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Infinity Lithium Investor Kit
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