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Cashed-up Infinity starts with Goldfield’s exploration

10 January 2022
ASX: IMI
Jack Baker
Gold Bars, Australian Dollar

Infinity Mining has commenced drilling at its historic Great Northern gold mine in the Central Goldfields of Western Australia.    

The 1000 metre first pass program is focused on fast-tracking drill targets at the site, eyeing confirmation and extension of the historical site’s inferred gold resource of 18,300 tonnes at 4.5 grams/t defined in the late 1980s.  

Following its recent successful ten-million-dollar IPO, the Queensland-based company will focus on its gold and copper tenement package covering over 700 square kilometres of land in the Pilbara and Central Goldfields.  

An additional high priority for the commodity-diverse explorer was to open track access to its three key lithium tenements to further geological review of the areas.  

The company said it had been working through the holidays and was now well funded and eager to explore and return value to its shareholders.   

“We have set ourselves a big program for 2022, and the early start to this year is essential so we can achieve our goals,” chief executive Joe Groot said.  

“With work on the ground ongoing, we anticipate reporting a steady stream of updates from early in Q1 2022.” 

IMI’s Australian Stock Exchange-listed price is trading at 19c (10:27 am UTC+8 hours) 

COMPANY OVERVIEW

Infinity Mining Limited (IMI) (previously known as Macarthur Lithium Pty Ltd) holds 100% interest in the Australia Pilbara tenements and in return, Macarthur Australia Limited (currently the sole shareholder) will retain equity in IMI, which will create the listing entity. In addition, the Central Goldfields assets of Zanil Pty Ltd will be acquired by IMI for equity.

COMPANY INFORMATION

ASX: IMI

Website

https://infinitymining.com.au/
https://www2.asx.com.au/markets/company/imi

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