- Infinity Stone Ventures (GEMS) has signed an option agreement with 3EX Resource Corp
- The Vancouver-based graphite company has signed an option agreement to acquire the Zen-Whoberi Copper Cobalt Platinum Palladium Project
- The 353-hectare project is located 30 kilometres north of Mont Laurier, Quebec
- Historical drilling done by Quinto Resources discovered gold, platinum, and palladium
- Infinity Stone Ventures is up 5.56 percent, trading at $0.28 at 12:52 pm ET
Infinity Stone Ventures (GEMS) has signed an option agreement with 3EX Resource Corp.
The Vancouver-based graphite company has signed an option agreement to acquire the Zen-Whoberi Copper Cobalt Platinum Palladium Project.
The all-stock deal is worth approximately C$336,000 and includes multiple exploration expenditure requirements.
The 353-hectare project is located 30 kilometres north of Mont Laurier, Quebec.
Historical results done by previous owner Quinto Resources between 2006 and 2007 highlighted intervals including 0.57 percent copper over 22.8 metres and 1.27 percent copper over 3.8 metres.
Both intercepts come from a from a single geophysical anomaly.
Quinto completed a drilling program of six diamond drill holes in 2006.
Other historical drilling done by Quinto Resources discovered gold, platinum, and palladium.
The Zen-Whoberi Project is located approximately 300 kilometres from Glencore Canada’s Horne Smelter in Rouyn-Noranda, Canada’s only operating copper smelter.
Anomalous grades in gold, platinum and palladium were noted in most of the 2006 drill holes.
Under terms of the deal, 3EX will retain a net smelter return royalty of 2 percent. Infinity has the right to repurchase 100 percent of the NSR for $2,000,000.
Infinity Stone Ventures is up 5.56 percent, trading at $0.28 at 12:52 pm ET.
