- Infinity Stone Ventures (GEMS) discovered lithium mineralization during recent surface and channel sampling of its Buda Lithium Project
- The Vancouver-based mineral exploration firm also identified rubidium and beryllium
- Amounts of all three minerals are thought to be “economically-encouraging,” according to the company
- The company has received exploration permits and intends to commence a diamond drill program immediately
- Infinity Stone Ventures is up 10 percent, trading at $0.22 at 10:04 am ET
Infinity Stone Ventures (GEMS) discovered lithium mineralization during recent surface and channel sampling of its Buda Lithium Project.
The project is located near Thunder Bay, Ontario.
The Vancouver-based mineral exploration firm also identified rubidium and beryllium.
Amounts of all three minerals are thought to be “economically encouraging,” according to the company.
A total of 32 grab samples and 23 channel samples were collected from the property and sent for multi-element analysis.
Initial grab and channel samples of weathered pegmatite outcrop exposures returned elevated Rb, Be, Li, Cs and Ta values.
Of the 32 grab samples, one returned a lithium value of 367 ppm Li, while seven returned rubidium values exceeding 1,000 ppm Rb, with a high of 2,090 ppm.
The most notable channel results were 1,408 ppm Rb over four metres.
At least six other pegmatite dikes are present on the property. Present sampling follows local strike orientation of the pegmatite dike swarm, as indicated by structural rock fabric measurements.
The company has received exploration permits from the Ontario Ministry of Mines and intends to commence a diamond drill program immediately to test pegmatite layers perpendicular to outcrop zones. It anticipates having pre-drill surveying of roads, trails and pads completed by November 30, with mobilization of drill equipment following immediately thereafter.
“We are very happy with the initial results from the Buda Project returning all the pathfinder indications of a mineralized LCT pegmatite. With our drilling team already mobilized in the region at the Rockstone Graphite Project, we are looking to commence our Winter Drill Program immediately, providing a further catalyst for short-term growth. The proximity of the Rockstone Graphite and Buda Lithium Projects to infrastructure in Thunder Bay, as well as to each other, presents a strategic opportunity for the development of a diversified battery metal producer in a region that is becoming integral to the North American EV and battery metal supply chain,” said Infinity Stone CEO Zayn Kalyan.
Infinity Stone Ventures is up 10 percent, trading at $0.22 at 10:04 am ET.
