The Conversation (0)
Infinity Lithium Corporation Limited (‘Infinity’, or ‘the Company’), through wholly owned subsidiary Extremadura New Energies, remains on course for the submission of the Exploitation Concession Application (‘ECA’) for the San José Lithium Project (‘San José’, or ‘the Project’) under the tenure Exploration Permit Extremadura S.E. (‘PESE’) (see ASX Announcement 29 March 2023).
HIGHLIGHTS
- Mining License Application and Environmental Impact Assessment submission works progressing.
- San José Lithium Project tenure comprises all-encompassing granted Exploration Permit PESE.
- Former multiple permits now replaced by single granted Permit.
- Local and regional elections complete – national election period commenced.
- Positive Project development pathway remains unchanged by election results and the Company looks forward to continuing to work with all stakeholders.
The Company welcomes the opportunity to engage with local and regional government representatives following the positive Cáceres local and Extremadura regional elections on 28 May 2023. The national election period was subsequently announced and will be decided in polls on 23 July 2023. The Company anticipates the finalisation of the Regional Government following the national election period.
Extremadura New Energies CEO Ramon Jimenez commented “We are looking forward to engaging positively and directly with incoming local and regional representatives who have highlighted the benefits of the Project and desire to progress with the requisite environmental, technical and economic benefits for the region. The community recognises the generational opportunities aligned to the Project development and complimentary industries as the global race for critical raw materials intensifies”.
Popular Party (‘PP’) leader and incoming Mayor of Cáceres Rafael Mateos highlighted in the weeks leading into the election the position of the PP party, “As long as there is no environmental damage to the city, to the surroundings of Valdeflórez, and that there are industries associated with the project, we will support it.”
Extremadura New Energies will progress the Mining License Application (‘MLA’) and Environmental Impact Assessment (‘EIA’) submission included under the ECA incorporating the responses from local and regional stakeholders detailed in the EIA Scoping Document (refer to ASX announcement 9 May 2023). Technical and administrative works are continuing throughout the election period and the Company anticipates the submission of the ECA in Q4 2023.
The administrative process to submit the ECA has been altered to include the extended PESE Project tenure. The High Court of Justice of Extremadura (‘the Court’) has determined that the investigation permits previously contained within the new project area PESE are annulled, and therefore the Project area now comprises entirely of PESE. Refer to Figure 1: San José Lithium Project - Exploration Permit Extremadura S.E.
Figure 1: San José Lithium Project - Exploration Permit Extremadura S.E.
The announcement was authorised by the Board. For further inquiries please contact.
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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.
INF:AU
High grade Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
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This article includes content from Asian Battery Metals PLC, 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.
