Infinity Stone acquires, stakes 359 hectares in Que. 2023-01-31 12:26 ET - News Release
Mr. Zayn Kalyan reports
INFINITY STONE FURTHER EXPANDS PROJECT, INCLUDING HISTORIC LITHIUM SAMPLES, NEAR PATRIOT BATTERY METALS CORVETTE DISCOVERY
Infinity Stone Ventures Corp. has acquired and staked an additional 359 hectares, as well as a pending application for two additional claims on its Camaro Hellcat lithium project, with claim blocks adjacent to Patriot Battery Metals's Corvette project, in the James Bay region of Quebec, bringing its total land position to 5,546 hectares in addition to the currently pending cells. The new claims include historical surface samples returning 57 parts per million (ppm) lithium (Li), sampled and assayed in 2016, and a 30 ppm Li sample in 1997. The historic samples were found to the west of Winsome Resources Ltd.'s Cancet project and Patriot's Corvette lithium project, north of the Taiga Highway. There are at least four historical mapped pegmatites on the new claims, and the company intends to conduct further exploration to identify any other potential pegmatites that may be found on the new claims.
The new claims are also located near Winsome's Cancet discovery drill hole. Winsome's best results at Cancet have included one metre at 5.65 per cent Li2O (lithium oxide) from 36.5 m and six metres at 1.95 per cent Li2O from 36.45 m. Furthermore, the new claims are adjacent to a number of claims currently held by Jody Dahrouge, president and owner of Daroughe Geological Consulting Ltd., a consultant and contractor to Patriot. Patriot has recently announced that it had drilled 52.2 m of 3.34 per cent Li2O, including 15 m of 5.1 per cent Li2O.
Infinity Stone intends to conduct a focused exploration program on the Hellcat claim block, alongside an initial prospecting program on the new claims, in the early spring and will leverage the results of the winter geophysics program announced on Jan. 19, 2023, in targeting sampling and trenching. The survey will further enable the mapping and delineation of the pegmatitic units across the claim blocks.
"We are excited to further expand the Hellcat Camaro Project in James Bay near Patriot's Corvette discovery. As the spring exploration season rapidly approaches, we are renewing our focus on the project and are actively evaluating new claim blocks that are adjacent and near the current project footprint," said Zayn Kalyan, CEO of Infinity Stone. "The James Bay region, specifically the CV lithium trend discovered by PMET, is quickly becoming the epicentre of lithium exploration in North America and we are excited to have a prospective land package in the region. We are looking forward to being able to get back on the ground with more data following our geophysics program to conduct a renewed and focused exploration program," furthered Mr. Kalyan.
Terms of Acquisition
Pursuant to the acquisition of 100% interest in 154 hectares of the New Claims, the Company has agreed to (i) paying $6,000 in cash and issuing 200,000 subordinate voting shares ("Shares") of the Company to the claim vendor Donovan Explorations Ltd.
About the Hellcat Camaro Lithium Project
The 5,546-hectare Hellcat 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 four 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 has recently returned significant high-grade results at the Corvette Lithium Project, including 156.9 m at 2.12% Li2O (176.4 m to 333.4 m), including 25.0 m at 5.04% Li2O (CV22-083).1
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.