- Infinity Stone successfully refines graphite samples from its Rockstone Graphite Project to 99.73% Cg in a Metallurgy Program with SGS Labs.
- The Company announces its intent to spin out the Rockstone Graphite Project and distribute ownership of the project to current Infinity Stone shareholders.
- With the recent results of the Fall Drill Program, including an previously announced intersection of 3.36% Cg over 101.0m, including 21.96% Cg over 4.32m, and Metallurgy Program, the Company believes that the spinout of the Rockstone will further unlock shareholder value.
- All of the drill holes from the Fall Drill Program which returned elevated graphite levels, with significant mineralization and grade comparable with drilling results from other graphite discoveries, including Nouveau Monde Graphite's Matawinie Mine.
Vancouver, British Columbia--(Newsfile Corp. - March 3, 2023) - Infinity Stone Ventures Corp. (CSE: GEMS) (OTCQB: GEMSF) (FSE: B2I) (the "Company" or "Infinity Stone"), announces that it has successfully refined samples from the Rockstone Graphite Project to 99.73% Cg in its metallurgical program metallurgical program (the "Metallurgy Program") with SGS Canada Inc. ("SGS Labs"). The Company intends to spin out the Rockstone Graphite project which is located near Thunder Bay, Ontario ("Rockstone" or the "Rockstone Graphite Project"), to Infinity Stone shareholders by dividend or plan of arrangement. With the recent results of the fall drill program on Rockstone (the "Fall Drill Program"), the Company believes that Rockstone presents a prospective opportunity warranting an expanded exploration program to build further shareholder value as a stand alone entity. The metallurgical testing at SGS achieved the reported purity of 99.73% Cg through NH4F/H2SO4 leach on flotation concentrate.
"As one of our most developed projects, Rockstone presents an opportunity for potential development and exploration upside. Rockstone has the best opportunity for further investment and accretive value to existing shareholders in a standalone entity. With a completed spin out, the new entity would have an opportunity to further develop the Rockstone asset, alongside other potential graphite opportunities", said Zayn Kalyan, CEO of Infinity Stone. "Graphite is receiving considerable attention in international markets, specifically Australia, where we see potential for accretive valuations for assets like Rockstone and we intend to explore all available avenues with regard to the spin out structure. We intend to continue to replicate this model and/or joint venture, with other projects in our portfolio. Infinity Stone has continued to invest in many of its assets, with the project generation-spinout model enabling long-term shareholders to realise potential upside in the successor entities," furthered Mr. Kalyan.
As announced on January 25, 2023, the Fall Drill Program on Rockstone intersected graphite in all four holes with, with assays returning elevated graphitic carbon (Cg) and zinc, with significant mineralization and grade comparable with drilling results from other graphite discoveries, including Nouveau Monde Graphite Inc.'s ("Nouveau Monde") Matawinie Mine.
- Hole RS-22-01 intersected 15.68% Cg and 0.56% Zn over 4.83 metres, including 24.05% Cg and 0.72% Zn over 2.33 metres.
- Hole RS-22-03 intersected 1.87% Cg and 0.06% Zn over 16.45 metres and 3.36% Cg and 0.13% Zn over 101.0 metres, including 21.96% Cg and 0.78% Zn over 4.32 metres.
- Hole RS-22-04 intersected 10.86% Cg and 0.42% Zn over 14.0 metres, including 17.94% Cg and 0.60% Zn over 7.0 metres.
- Hole RS-22-02 intersected 1.70 g/t Au over 2 metres from 198 to 200 metres (as previously announced on January 10, 2023). The hole did not intersect significant graphite or zinc mineralization.
Table 1: Drill Program Highlights
|Drillhole||From (m)||To (m)||Interval (m)||Cg (%)||Zn (%)|
As previously announced on January 10, 2023, RS-22-02 encountered the 2.0-metre interval of gold mineralization from 198 metres to the drillhole's final depth of 200 metres, terminating in the mineralized lithology of intermediate volcanics with quartz veining. The Company completed drilling of 4 holes, RS-22-01, RS-22-02, RS-22-03, and RS-22-04, totalling 800.0 metres. The Au intersection represents a new regional gold discovery and appears to be associated with Rockstone Cu/Zn/graphite VMS-type exhalite mineralization.
While the Company works through the process of spinning out the Rockstone Graphite Project, Infinity Stone intends to immediately mobilise for an extended drill program to extend RS-22-02 to determine further gold mineralization, alongside additional step-out holes. The Company also will initiate 3D modelling of the results of the Fall Drill Program, ahead of a planned geophysics program, including a down-hole magnetic survey.
Technical information in this news release has been reviewed and approved by Case Lewis, P.Geo., a "Qualified Person" as defined under NI 43-101 Standards of Disclosure for Mineral Projects and a director of the Company.
About Infinity Stone Ventures
Infinity Stone's mission is to be a diversified, single source supplier for the critical energy metals being used in the clean energy revolution alongside its established SaaS solution portfolio. Infinity Stone 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.
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