Infinity Stone Ventures Corp - formerly Contakt World Technologies Corp - said it has entered into a property option agreement with 5042078 Ontario Inc under which it has been granted an option to acquire 33 unpatented single-cell and multi-cell mining claims (1,094 hectares) located in Marks Township, Thunder Bay Mining Division, Ontario.
The Rockstone Graphite Zone is located 50 kilometres west of the seaway port at the City of Thunder Bay, Ontario, Canada. The project has excellent access by logging haul roads that connect to paved/gravel roads with nearby railways and a shipping port.
“We are excited to announce the optioning of the Rockstone Project as the company further expands its portfolio in the battery metals space”, said Infinity Stone CEO Zayn Kalyan in a statement.
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“We believe that graphite is just as important as lithium in the production of EV batteries, and that the market will move to value the resource accordingly. A recent Benchmark Mineral Intelligence report found that there will be a global deficit of graphite beginning this year, with China currently controlling 84% of the global supply," Kalyan added.
Based upon the Versatile Time Domain Electromagnetic (VTEM) survey completed by Sabina Silver Corporation in 2007 and reprocessed by Greencastle Resources, there are 18 drill-ready electromagnetic targets at Rockstone. Greencastle’s drilling in 2012 was comprised of 4 diamond drillholes (916 metres). Diamond drill hole GC-12-01 drill hole intercepted 24 meters (drill width) averaging 0.82% Zinc and 0.15% Copper within a graphitic schist.
Analysis of the pulps for the 24 metres returned a value of 25% carbon using a LECO analytical procedure.Greencastle contracted SGS Labs to complete metallurgical upgrading tests that resulted in grade purity of 96.11% (Cg).
Further processing could possibly produce battery-grade graphite. Rockstone graphite morphology appears to be highly-ordered hexagonal graphite crystallites and crystallite agglomerates, likely formed by hydrothermal activity at a formation temperature of 702C.
The company is currently working with the prior exploration team to draft a NI 43-101-compliant report based on the exploration work done on the project and to coordinate further exploration. The company expects to be able to be on the project in the coming months, with the initial goal of twinning the GC-12-01 discovery hole and to drill test several other targets.
Under the agreement, the company has the right to acquire a 100% ownership interest in and to the Rockstone Project upon the company paying the optionor an aggregate of US$2,000,000 over nine years and issuing the optionor 500,000 class A subordinate voting shares of the company within 30 days of the date of the agreement.
Infinity Stone Ventures' mission is to deliver solutions across industries. The company’s primary business units are Contakt World and HealthCheck (Stratum Health Technologies LLC) and the company is actively looking to acquire portfolio assets in other sectors such as SaaS solutions and energy metals.
Contact the author at jon.hopkins@proactiveinvestors.com