Infinity Stone Ventures Corp (CSE:GEMS, OTC:GEMSF) has announced its upcoming spring work program on its Camaro Hellcat lithium project adjacent to Patriot Battery Metals Corvette lithium discovery in the James Bay lithium district of Quebec.
The company said the program will include mapping and surveying for new pegmatites, targeted sampling, short-hole drilling, and trenching, particularly on the rouget-greenstone underlying the Hellcat claim block, all to derive clear targets for a follow-up drill program. Its exploration team will be able to mobilize in early May, and is closely monitoring the weather conditions, Infinity Stone added.
The company said it intends to leverage short-hole drilling with a ‘backpack’ drill on targeted areas across the claim blocks. Beyond this, it said its exploration team also intends to use a laser-induced breakdown spectroscopy surveyor or ‘LIBS Gun’ with the aim of testing samples for lithium in the field, to assist in defining drill targets.
"We are excited to refocus our efforts on the Camaro Hellcat project given the recent developments on Patriot Battery Metal's Corvette discovery, alongside positive upstream developments, including the recent announcement by VW to build a lithium battery plant in Ontario”, Infinity Stone CEO Zayn Kalyan said in a statement.
"We understand that many of our shareholders have wanted us to conduct further exploration on our James Bay project but have been unable to conduct substantial work over the winter due to snow cover," he added. "As spring rapidly approaches we are eager to get boots on the ground to conduct a more thorough survey of the claims, particularly the Hellcat where we have identified the most prospective geology.”
Attractive exploration target
Infinity Stone noted that the Hellcat claims are underlain by 9 kilometres (km) of strike length of underexplored greenstone and metasediments of the Mesoarchean Rouget formation and Neoarchean Marbot formation respectively.
It said the under-explored Rouget formation greenstone belt represents an attractive exploration target which is geologically similar and proximal to the Guyer Group greenstone which hosts the Patriot Battery Metals Corvette pegmatites.
One of the significant highlights of its fall exploration program was the identification of a cluster of highly prospective pegmatitic dykes and cross-cutting structures near the northern margin of the Hellcat claims extending to the north, which resulted in it expanding its claim area, the company said.
“The continued investment by other companies in the region, including Patriot's recently announced $50m flow-through financing, will enable Infinity Stone to operate more efficiently and economically with more robust infrastructure," Kalyan continued.
Brazil projects
Infinity Stone also announced that it has terminated its option agreement to acquire the 38,441-hectare Sugar Loaf and Little Dipper lithium projects in Brazil, announced on February 7, 2023.
"While we do feel that the projects in Brazil do have exploration potential, after discussions with shareholders and the general market, we intend to refocus our efforts on our projects in Ontario and Quebec,” Kalyan explained. “By choosing not to move forward with the agreement we will be able to limit dilution, and ensure that exploration resources are focused in Canada where we project the most value for shareholders and the company will be derived.”
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 Software-as-a-Service (SaaS) solution portfolio. The company 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.
Contact the author at stephen.gunnion@proactiveinvestors.com