Infinity Stone Ventures Corp. Provides Update on Winter Drill Program at Buda Lithium Project
13.12.2022 | Newsfile
Highlights- Infinity Stone has completed two of three holes on the Buda Lithium Winter Drill Program.
- All three drill holes, BD-22-01, BD-22-02 and BD-22-03 intersected pegmatite intervals with multiple muscovite-rich intervals.
- Winter Drill Program follows the recovery of grab samples assaying up to 367 ppm Li, 2,090 ppm Rb, and 4,200ppm Be, and channel samples up to 1,408 ppm Rb over 4 metres.
Vancouver, Dec. 13, 2022 - Infinity Stone Ventures Corp. (CSE: GEMS) (OTCQB: GEMSF) (FSE: B2I) (the "Company" or "Infinity Stone"), is pleased to provide an update on its winter drill program on the Buda Lithium Project ("Winter Drill Program"). The Company commenced diamond drilling at Buda on December 5, 2022 and expects that the Winter Drill Program will conclude by December 16, 2022.
All three drill holes, BD-22-01, BD-22-02 and BD-22-03 intersected pegmatite intervals with multiple muscovite-rich intervals.
The Company was able to re-mobilise drilling equipment from the Rockstone Graphite Fall Drill Program to minimise costs and increase efficiencies. The Winter Drill Program follows the Company's initial exploration program that returned samples with elevated Rb, Be, Li, Cs and Ta values. Core samples from the Winter Drill Program are currently being logged, split and bagged to be sent for assay.
"We look forward to concluding the Winter Drill Program at Buda and getting the core into the lab for assay. The area in the vicinity of the Buda Project is quickly becoming a key region for hard rock lithium exploration and discovery," said Zayn Kalyan, CEO of Infinity Stone. "Lithium remains one of the best performing commodities and risk assets for 2022 and we are very optimistic on the continued growth of the North American battery metal supply chain, ultimately driving demand for deposits in Ontario," furthered Mr. Kalyan.
Buda Project Sampling
As reported in the Company's news release dated November 16, 2022, out of the 32 grab samples, one sample returned a lithium value of 367 ppm Li. 7 samples returned rubidium values exceeding 1,000 ppm Rb, with a high of 2,090 ppm Rb in sample E6096115, and an average of 720 ppm Rb across all 32 grab samples. Sample E6096111 returned a highly anomalous beryllium value of 4,200 ppm Be along with 1,320 ppm Rb. *
The most notable channel results were 1,408 ppm Rb over 4 metres in channel BD-02-02 and 1,283ppm Rb over 4 metres in BD-03-01. Channel sample highlights are shown below:
Table 1: Channel Sample Highlights
Channel Interval (m) Rb (ppm) Li (ppm)
BD-01-01 5.0 815 13
including 1.0 1570 <10
including 0.5 217 269
BD-02-02 4.0 1408 14
BD-03-01 4.0 1283 20
BD-05-01 0.6 494 192
* Cautionary Note: Grab samples are selective in nature and mineralization and grades are not necessarily reflective of the mineralization hosted by the property.
The Buda Pegmatite is classified as a rare metal LCT pegmatite, which are characteristically enriched in lithium, cesium, tantalum, beryllium, rubidium, niobium, and tin. At least six other pegmatite dikes are present on the property. Present sampling follows local strike orientation of the pegmatite dike swarm, as indicated by structural rock fabric measurements.
The Company also announces it has issued 450,000 stock options at an exercise price of $0.35 for a 5-year term to directors, officers and consultants.
About the Buda Pegmatite Property
The Buda Pegmatite Property is located 50 kilometres west of the City of Thunder Bay, Ontario, along Highway 17/11. Access to the property is excellent, via Highway 17/11 which traverses the western edge of the property, and a network of bush roads which provide access throughout the interior of the property. The property consists of a single block of 68 cells covering 1,451 hectares (3,585 acres).
The last significant program on the property was conducted in the early 1980s by Steep Rock Iron Mines, which was exploring for feldspar. According to documentation by Steep Rock, Buda Station area hosts a "significantly large pegmatite dike worthy of economic consideration." Seven pegmatite dikes were mapped on the property, the largest being Steep Rock Dike.
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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Contact
Infinity Stone Ventures Corp.
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.
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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.
