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Infinity prove Great Northern gold tenor

25 March 2022
ASX: IMI
Jack Baker

Infinity Mining’s first pass drilling hit on open gold suggested zones underneath its promising Great Northern site in Western Australia’s Leonora mining district.

Part of the greater Central Goldfields project holding a swag of targets across 14 square kilometres, the region is host to numerous gold, base metal and nickel deposits with historic workings.

The newly-listed explorer designed the maiden program for verification of historic drilling – with assays up to 10.95 grams per tonne proving the mineralisation.

The company said it is prioritising exploration and extension drilling with the gold lying open and small fortunes being spent for a sniff of the battery metal.

“Infinity is spending a large proportion of the funds raised in December 2021 in the ground, with multiple exploration programs kicking off in the next few months,” chief executive Joe Groot said.

Modelling of the gold system and a site visit to its lithium tenements are next up on the explorer’s schedule.

IMI’s Australian Stock Exchange-listed share price has risen 2.94 per cent today, selling at 17.5c (7.35 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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