 | | | | C S E : G E M S - O T C : G E M S F - F S E : B 2 I | | N E W S R E L E A S E Infinity Stone Options 38,441ha Sugar Loaf and Little Dipper Lithium Projects Near Sigma Lithium in Minas Gerais Province, Brazil
H I G H L I G H T S -
Infinity Stone has optioned the Sugar Loaf and Little Dipper lithium projects, collectively covering 38,441 hectares. -
The Sugar Loaf Project covers 22,195 hectares, located approximately 15 kilometres from Sigma Lithium’s Grota do Cirilo Project, located in the state of Minas Gerais, Brazil. -
The Little Dipper Project covers 16,246 hectares, located approximately 10 kilometres from Oceana’s Solonopole Lithium Project in the state of Cear, Brazil. | | Vancouver, BC, February 7, 2023 – Infinity Stone Ventures Corp. (CSE:GEMS) (OTC:GEMSF) (FSE:B2I) (the “Company” or “Infinity Stone”), is pleased to announce that it has optioned the 38,441-hectare Sugar Loaf and Little Dipper Lithium Projects (the “Sugar Loaf Project” and “Little Dipper Project”, respectively; collectively, the “Projects”). The Sugar Loaf Project is located 15 kilometres from both Sigma Lithium Resources’ (“Sigma Lithium”) (NASDAQ:SGML) Grota do Cirilo Project and Lithium Ionic Inc’s (“Lithium Ionic”) (TSXV:LTH) Itinga Project in the state of Minas Gerais, Brazil. The Little Dipper Project is located in the state of Cear, approximately 10 kilometres from Oceana Lithium Ltd.’s (“Oceana”) (ASX:OCN) Solonopole Lithium Project. The Sugar Loaf Project comprises 13 exploration permits, while the Little Dipper Project comprises 9 exploration permits. (Figures 1 & 2).
The Sugar Loaf and Little Dipper Projects were optioned on the basis of perceived geological potential from known mineralized trends. Both Minas Gerais and Cear have become regions of interest for hard rock lithium exploration, with a number of early and later stage exploration companies active in the region, as well as companies much closer to production such as Sigma Lithium. Brazil has been recognized as one of the world's major high-grade lithium producers. For example, LG Energy Solutions (“LG”) recently secured a 6-year offtake agreement with Sigma’s subsidiary Brazilian Sigma Minerao SA. LG is a battery supplier to multiple EV companies, including Tesla Inc. (NASDAQ:TSLA).
Sigma’s properties are located in the municipalities of Araua and Itinga, in Brazil’s mining-friendly Minas Gerais State, approximately 450 kilometres northeast of the state capital of Belo Horizonte. Sigma holds 27 mineral rights in four properties spread over 191 square kilometres (19,100 hectares), which include nine past-producing lithium mines. | | Figure 1: Sugar Loaf Project Area Map | | |  | | Figure 2: Little Dipper Project Area Map
|  | | | | Infinity Stone intends to conduct a satellite imagery-based spectral analysis to determine areas of interest for targeted exploration. Following this, the Company intends to mobilise an exploration team immediately to the Projects to conduct initial groundwork, including grab and channel sampling, trenching, and mapping. There will be a focus on identifying pegmatites across the claim blocks that have the potential for lithium-cesium-tantalum (LCT) mineralization.
The Company notes that mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company’s properties. Option Terms Pursuant to an option agreement (the “Option Agreement”) dated February 2, 2023 between the Company and Talisman Venture Partners Ltd. (“Talisman”), the Company has been granted an option to acquire the Projects upon: (i) payment of $50,000 on execution (paid), $100,000 within 30 days of execution and $150,000 within 180 days of execution; and (ii) issuance of 4,000,000 class A subordinate voting shares (“Shares”) of the Company within 30 days of execution and 4,000,000 Shares within 180 days of execution. Upon the Company earning in under the Option Agreement, Talisman will retain a 1% net smelter royalty (NSR) over the Projects, half of which may be repurchased by the Company for $1,000,000 within 90 days of the public filing of a bankable feasibility study respecting the Projects.
Stock Option Issuance & Marketing Engagement Infinity Stone has retained Machai Capital Inc. (“Machai”) to provide digital marketing services (the “Engagement”). Machai will provide certain digital marketing services in compliance with the policies and guidelines of the Canadian Securities Exchange and other applicable legislation. The Engagement has an initial term of six months, Machai will receive $80,000 in cash plus applicable taxes and be issued 400,000 stock options at an exercisable price of $0.25 for a 5-year term. Machai is at arm's length to Infinity Stone and has no other relationship with the company except pursuant to the Engagement.
References: 1.https://www.prnewswire.com/news-releases/sigma-lithium-and-lg-energy-solution-sign-milestone-six-year-binding-term-sheet-for-lithium-offtake-agreement-301392472.html
2.https://insideevs.com/news/630122/tesla-battery-supplier-lg-invests-increased-production/ | | 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.
Connect with Infinity Stone Email | Website | | | | Infinity Stone Contact Zayn Kalyan CEO and Director Direct: 778-938-3367 zayn@altuscapital.ca | | | | |