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Highlights
- Infinity Stone expands its land position to over 5,187 hectares, with 28 identified pegmatites, in James Bay Lithium District adjacent to Patriot Battery Metals' Corvette discovery.
- Option to acquire an additional 1,336 hectares directly adjacent to the Company's Hellcat Project
- Infinity Stone expanded property following the Fall Exploration Program which identified tourmaline, garnet, and muscovite mineralization on the Rouget formation greenstone belt underlying the Hellcat Claim and trending on to the New Claim Block
Infinity Stone Ventures Corp. (CSE: GEMS) (OTCQB: GEMSF) (FSE: B2I) (the "Company" or "Infinity Stone"), is pleased to announce that it has entered into an option agreement to acquire an additional 1,336 hectares directly adjacent to the Company's Hellcat Project (the "New Claim Block"), which is part of Infinity Stone's larger Camaro Project, near Patriot Battery Metals ("PMET" or "Patriot") Corvette Lithium Discovery in the James Bay Region of Quebec.
The block is contiguous with the northwestern boundary of Infinity Stone's Hellcat Project. The newly acquired area hosts an additional five pegmatite occurrences, with an additional 11 appearing in the southeastern Hellcat Project.
The fall exploration program, conducted by Axiom Exploration Group, Infinity Stone's contracted technical team, (the "Fall Program") was extremely successful in confirming historically mapped pegmatites and identified new showings. 87 samples were collected over 3850 hectares of claims adjacent to the Patriot discovery. The samples have been shipped to Saskatchewan Research Council ("SRC") lab in Saskatoon, Sask., with assay results expected to be returned in the coming weeks.
One of the significant highlights of the Fall Program was the identification of a cluster of highly prospective pegmatitic dykes and cross cutting structures near the northern margin of the Hellcat claims extending to the north, into the newly acquired claim area.
The white, coarse grained, pegmatite dykes in this area were mineralogically characterized by tourmaline, garnet, and muscovite which are common LCT (Lithium-Cesium-Tantalum) pegmatite indicator minerals in the district.
The New Claim Block is underlain by 9 km of strike length of underexplored greenstone and metasediments of the Mesoarchean Rouget formation and Neoarchean Marbot formation respectively. The under-explored Rouget formation greenstone belt represents an attractive exploration target which is geologically similar and proximal to the Guyer Group greenstone which hosts the PMET Corvette Pegmatites.
"Following our recent Fall Program, we moved quickly to expand our footprint and focus on the most prospective areas of the Camaro Project in James Bay," said Zayn Kalyan, CEO of Infinity Stone. "The identification of tourmaline, garnet, and muscovite, in pegmatites on the expanded Hellcat have given us an area of considerable interest and will be critical to our exploration program moving forward," furthered Mr. Kalyan.
Infinity Stone intends to provide a full update regarding the Fall Program in the immediate term.
Figure 1. Expanded Hellcat Claims
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Figure 2. Camaro Project
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Options Terms
Pursuant to the property option agreement (the "Agreement"), the Company has the option to acquire a 100% interest in the Project from Tamed Mining Corp.. (the "Optionor") by (i) making cash payments totaling $150,000 in installments over the course of twelve (12) months, (ii) issuing a total of 2,500,000 Class A Subordinate Voting Shares of the Company in tranches over the course of twenty (24) months.
About the Camaro Lithium Project
The 5,187-hectare Camaro Lithium Project is located adjacent to Patriot Battery Metals' Corvette Property, in the James Bay Region of Quebec, approximately 235 kilometres east of Radisson, Quebec and 245 kilometres northeast of the Cree village municipality of Nemaska. The Project has three property blocks, the Taiga, Hellcat, and Camaro, collectively covering 3,850 hectares adjacent to Patriot Battery Metals' Corvette Lithium discovery in the James Bay Region of Quebec. PMET's CV8 pegmatite, with grab samples averaging 4.6% Li2O, is located 1,400 metres north of the Taiga Project. The newly-discovered CV13 pegmatite cluster is located 1,500 metres north of the Camaro Project.
Qualified Person
Technical information in this news release has been reviewed and approved by Case Lewis, P.Geo., a "Qualified Person" as defined under NI 43-101 Standards of Disclosure for Mineral Projects and a director of the Company.
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. 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.
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Infinity Stone Contact
Zayn Kalyan
CEO and Director
Direct: 778-938-3367
zayn@altuscapital.ca
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. 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.
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