Infinity Stone Ventures ($GEMS.c) up 16% so far today after providing additional information on their agreement to acquire the PAK Lithium Project in the Red Lake Mining District in Ontario yesterday:
$GEMS will acquire a 100% interest in the PAK South and PAK Southeast claims, covering 1258 hectares and 158 hectares respectively.
The properties cover several identified pegmatite units and are located directly adjacent to Frontier Lithium's ($FL.v) PAK Lithium Project, sharing a boundary for ~14km.
This is a significant acquisition as Frontier Lithium is currently on a huge run and recently announced 405m of 1.5% Li2O. Plus, the upcoming increases in lithium battery production capacity in North America will require an increased supply of lithium that $GEMS has the opportunity to capitalize on.
$GEMS is focused on locating the mapped pegmatitic units identified by the Ontario Geological Survey and will be releasing an exploration plan prior to work commencement.
https://www.bloomberg.com/press-releases/2022-04-06/infinity-stone-ventures-provides-further-information-regarding-claims-adjacent-to-frontier-lithium-and-re-prices-warrants