- Infinity Stone (GEMS) has secured an option to acquire the Thor Manganite project on the Magdalene Islands in Québec
- The property covers 6.9 sq. km. in two blocks of 5.8 sq. km and 1.1 sq. km., respectively, is highly prospective for manganite, an important manganese ore mineral
- The company has the right to acquire a 100 per cent interest in the property upon paying $15,000 in cash and issuing 350,000 subordinate voting shares within 30 days and paying $25,000 in cash and issuing 650,000 shares within one year
- Infinity Stone (GEMS) is unchanged trading at $0.185 per share as of 10:05 am ET
Infinity Stone Ventures Corp. (GEMS) has secured an option to acquire the Thor Manganite project on the Magdalene Islands in Québec.
The property covers 6.9 sq. km. in two blocks of 5.8 sq. km and 1.1 sq. km., respectively, is highly prospective for manganite, an important manganese ore mineral.
A historical report on the property’s larger, northern block identified 10 diamond drill holes which were reported to have intersected significant manganese mineralization.
The report mentioned that there is “459,333 tons of mill feed ore, which, it is believed, will yield 153,111 tons of ferro-grade ore after beneficiation,” but the company warns that it is not treating the historical estimate as current mineral resources or mineral reserves.
The company has the right to acquire a 100 per cent interest in the property upon paying $15,000 in cash, issuing 350,000 subordinate voting shares within 30 days, and paying $25,000 in cash and issuing 650,000 shares within one year. The property is subject to a 2 per cent net smelter return royalty, half of which the company can buy back for $1 million.
The company’s CEO, Zayn Kalyan, stated that over the past months, the team has been working to acquire battery metals projects that would help turn the company into an aggregator and owner of energy metals mineral deposits that will be in strong demand.
“With the addition of the Property, we have acquired five of the six stones, and we are actively working to round out the portfolio with the acquisition of the sixth.”
Infinity Stone Ventures Corp. (GEMS) is engaged in developing battery metals projects alongside a portfolio of software-as-a-service (SaaS) solutions. It integrates data collection and management (Smart Health RM), communications (Smart Connect), advertising (Engagency), and IoT devices (Smart Check).
Infinity Stone (GEMS) is unchanged trading at $0.185 per share as of 10:05 am ET.
