Infinity Stone Ventures Corp (CSE:GEMS) told investors that assays from the fall drill program on its Rockstone Graphite project located near Thunder Bay in Ontario have affirmed the prospective value of the project.
The company said it has received assays for all of the drill holes from the program, including RS-22-01, RS-22-02, RS-22-03 and RS-22-04, all of which returned elevated graphitic carbon (Cg) and zinc (Zn), with significant mineralization and grade comparable with drilling results from other graphite discoveries, including Nouveau Monde Graphite Inc's Matawinie Mine.
"Nouveau Monde has paved the way in terms of the development of natural graphite in Eastern Canada for the production of battery-grade cathode material used in the manufacturing of EVs (electric vehicles),” Infinity Stone CEO Zayn Kalyan said in a statement.
“Their recently announced offtake deal with Panasonic Energy and Mitsui, a key supplier of batteries to Tesla, demonstrates the potential value of Canadian graphite projects in the rapidly growing North American battery supply chain,” he added. “We are very excited to continue exploration on Rockstone in hopes of developing a deposit to support this critical sector."
READ: Infinity Stone Ventures uncovers new gold discovery at Rockstone graphite project in Ontario
Highlights of the program include:
- Hole RS-22-01 intersected 15.68% Cg and 0.56% Zn over 4.83 metres (m), including 24.05% Cg and 0.72% Zn over 2.33m;
- Hole RS-22-03 intersected 1.87% Cg and 0.06% Zn over 16.45m and 3.36% Cg and 0.13% Zn over 101m, including 21.96% Cg and 0.78% Zn over 4.32m;
- Hole RS-22-04 intersected 10.86% Cg and 0.42% Zn over 14m, including 17.94% Cg and 0.60% Zn over 7m; and
- Hole RS-22-02 intersected 1.70 grams per ton (g/t) Au over 2m from 198m to 200m. The hole did not intersect significant graphite or zinc mineralization.
The company noted that the four holes totalled 800m, with the gold intersection representing a new regional gold discovery and appearing to be associated with Rockstone copper/zinc/graphite VMS-type exhalite mineralization.
It also intends to immediately mobilise for an extended drill program to extend RS-22-02 to determine further gold mineralization, alongside additional step-out holes.
Additionally, it will initiate 3D modelling of the results of the fall drill program, ahead of a planned geophysics program, including a down-hole magnetic survey. Results of its metallurgical program will be shared with SGS Canada Inc to refine samples from Rockstone to EV battery-grade graphite concentrate, it added.
Infinity Stone’s mission is to be a diversified, single-source supplier of the critical energy metals being used in the clean energy revolution alongside its established SaaS solution portfolio.
Contact the author at stephen.gunnion@proactiveinvestors.com