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Infinity Lithium Corporation Limited (‘Infinity’, or ‘the Company’), through wholly owned subsidiary Extremadura New Energies, is pleased to announce the acquisition of rights and access of land for the San José Lithium Project (‘San José’, or ‘the Project’).
HIGHLIGHTS
- Extremadura New Energies secures long term lease over land for the industrial development of the San José Lithium Project.
- The industrial zoned land is located within the granted Exploration Permit which also covers the San José lithium deposit.
- Acquisition structured in a multi-year option and minimum 35-year lease.
- Acquisition of ~36ha of land rights from largest landowner in the designated lithium chemical conversion plant area.
- Total acquisition cost €2.1m (~A$3.4m).
The Company has secured land rights and access through an agreement with landowners to enter into an option over a 35-year lease period covering the life of the Project. The lands included in this agreement are already zoned “Industrial” under local urban planning requirements, and are located within the granted Exploration Permit Extremadura S.E. (‘PESE’) which includes the San José lithium deposit. The rights that have been secured over the single largest landholding for the designated lithium chemical conversion plant and related processing activities comprises 36 hectares or more than one third of the total proposed development area. The industrial zoned land is located adjacent to the sealed road and other key infrastructure (refer to Figure 1). The total estimated cost for the life of the project is approximately €2.1 million. For further details refer to Appendix 1: Key Commercial Terms.
Figure 1: San José Lithium Project highlighting land acquired
The acquisition of land rights is a significant milestone for the Company and the ongoing development of San José. Ramón Jiménez, CEO of Extremadura New Energies commented,
"The finalisation of the land agreement is another major milestone for San José and the ongoing momentum continues in collaboration with major local stakeholders. We are pleased to have finalised the agreement to secure rights to an essential land package for the project and provide visibility and precedent as we advance to the next stages of development.”
Other Project Developments
The Company has increased activities on multiple project specific fronts following the granting of PESE and the response from the Regional Government relating to the EIA Scoping Document. These include the advancement of documentation of updated economic studies on San José in compliance with requirements for an Exploitation Concession Application, increased stakeholder engagement to facilitate development, and land access.
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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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Select Update
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.
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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.
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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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