Infinity Stone Ventures to Test Rockstone Graphite Project High-Grade Graphite Discovery Zone with an Initial 600 Metre Three-Hole Drill Program
Highlights
- Infinity Stone received drilling permits enabling it to commence Fall Drill Program on Rockstone Graphite Project.
- Infinity Stone intends to diamond drill approximately 600 metres across 3 holes, with focus on twinning of GC-12-01 discovery hole, which intercepted 25% Cg over 24 metres.
- Rockstone Graphite Project strategically positioned to meet the growing graphite deficits that are expected to persist through 2025.
Vancouver, British Columbia--(Newsfile Corp. - October 18, 2022) - Infinity Stone Ventures Corp. (CSE: GEMS) (OTCQB:GEMSF) (FSE: B2I) (the "Company" or "Infinity Stone"), is pleased to announce its Fall drill program (the "Fall Drill Program") on the Rockstone Graphite project located near Thunder Bay, Ontario ("Rockstone" or the "Rockstone Graphite Project"). The Company has received an approved exploration permit from the Ontario Ministry of Mines that permits the use of mechanical drilling. Infinity Stone intends to commence diamond drilling of approximately 600 metres across 3 holes the first week of November 2022, with focus on twinning the GC-12-01 discovery hole, which intercepted 25% Cg over 24 metres.
In addition to twinning the GC-12-01 hole, two additional drill holes are planned to determine structural morphology, lateral extent and depth of graphite mineralization. Eighteen additional drill-ready EM targets are present on Rockstone Graphite Property. All Rockstone drill targets have potential to also host VMS-type copper/zinc mineralization. The Fall Drill Program will provide additional drill core to enable SGS Canada Inc. ("SGS Labs") to expand on its previously announced purification program, to upgrade core from the GC-12-01 to EV battery-grade.
"We are excited to announce the next step in the progression of the Rockstone Graphite Project. As a core project for the Company, Rockstone has the grade and historical work that sets it apart from other natural graphite projects in Canada and around the world," said Zayn Kalyan, CEO. "With the Fall Drill Program we are aiming to expand on the historical drilling and hope the program will confirm the potential for a significant graphite resource, in an increasingly tight graphite market that shows no immediate sign of loosening," furthered Mr. Kalyan.
Fastmarkets has recently forecasted natural graphite consumption in the battery sector to rise to be on par with consumption from steel manufacturing (refractories) in 2023, and to far exceed refractories' consumption of natural graphite in 2024. Furthermore, it was projected by 2025 that natural graphite consumption in batteries would exceed consumption from all traditional uses combined. The graphite market is expected to tip back into deficit in late 2022. Strong growth from the battery sector is expected to persist into the final quarter of the year, with Chinese natural graphite production expected to decline as usual during the winter, with production cuts in Heilongjiang province.1
Graphite is a key mineral in the production of EV battery cells. Approximately 1.2kg of graphite per kWh of energy capacity is required for modern EV battery cells.2 For reference, this means that a Tesla Model S 100D has approximately 120kg of graphite. Tesla recently visited Nouveau Monde Graphite, a Quebec based graphite miner and processor. Alongside Nouveau Monde, Northern Graphite and Focus Graphite have been instrumental in the development of "Québec's Battery Valley," as many companies working on battery materials have made significant investments there lately, including GM and Livent.3
About Rockstone Graphite Project
Rockstone Graphite Project is located 45 km 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. Based upon the reprocessed Versatile Time Domain Electromagnetic (VTEM) survey completed by Sabina Silver Corporation in 2007, there are 18 drill-ready electromagnetic targets. Greencastle's drilling in 2012 consisted of 4 diamond drillholes (916 metres). Diamond drill hole GC-12-01 intersected a 24 metre interval, averaging 0.82% zinc and 0.15% copper within a graphitic argillite unit. Analysis of the pulps for the 24 metres returned a value of 25% Cg (graphitic carbon) using a LECO analytical procedure. 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.
Qualified Person
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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Infinity Stone Contact
Zayn Kalyan
CEO and Director
Direct: 778-938-3367
zayn@altuscapital.ca
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
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1 https://www.fastmarkets.com/insights/recent-graphite-price-weakness-masks-phenomenal-demand-growth
2 https://electrek.co/2020/01/31/nouveau-monde-graphite-clean-tesla-ev-supply-chain/
3 https://electrek.co/2022/09/01/tesla-visits-graphite-mine-factory-quebec/
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