Infinity Stone Ventures Corp (CSE:GEMS) has told investors that all three drill holes in the winter drill program at its Buda lithium project in Ontario intersected pegmatite intervals with multiple muscovite-rich intervals.
The company said it commenced diamond drilling at the project on December 5 and expects to wind up the program by December 16. Drilling equipment was re-mobilised from the Rockstone Graphite fall drill program to minimise costs and increase efficiencies, it added.
"We look forward to concluding the winter drill program at Buda and getting the core into the lab for assay,” Infinity Stone CEO Zayn Kalyan said in a statement. “The area in the vicinity of the Buda Project is quickly becoming a key region for hard rock lithium exploration and discovery.”
READ: Infinity Stone Ventures hits massive graphite in all four fall program drill holes at Rockstone project
Infinity Stone said the winter drill program follows an initial exploration program at the Buda project that returned samples with elevated rubidium, beryllium, lithium, caesium and tantalum values.
Core samples from the winter drill program are currently being logged, split and bagged to be sent for assay, the company added.
"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," Kalyan noted.
The Buda Pegmatite is classified as a rare metal LCT pegmatite, which are characteristically enriched in lithium, cesium, tantalum, beryllium, rubidium, niobium, and tin.
Infinity Stone said 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 announced that it has issued 450,000 stock options at an exercise price of $0.35 for a 5-year term to directors, officers and consultants.
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 (Software-as-a-Solution) portfolio.
Contact the author at stephen.gunnion@proactiveinvestors.com