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Infinity get bullish at Chicago

19 September 2022 11:47
ASX: IMI

Infinity Mining have spotted two new magnetic high targets adjacent to the old gold mine workings at its Chicago tenement in Western Australia’s Leonora Gold District.

The targets were uncovered by a drone survey flown and upgraded by the return of seven nearby anomalous rock chip assays showing up to 2.37 grams per tonne gold.

The project saw small-scale mining in the late 1800s but has no evidence of drilling, despite being encircled by significant gold deposits including King of the Hills and Kailis.

Chicago is one of many Infinity holdings in the legendary WA Goldfields and the region is showing its quality, with a new high priority brownfields gold target similarly revealed at its Camel project.

The company said new data combined with geochemical datasets had gone a long way to upgrade the prospectivity of its projects.

“Recent Infinity drone magnetics across some of the Central Goldfields projects has been positive in identifying buried structures in proximity to historical mining activities,” chief executive Joe Groot said.

The explorer plan drilling to test its new targets for shear-hosted gold mineralisation at depth later this year.

IMI’s Australian Stock Exchange-listed share price is currently trading at 24c (11.10 am UTC+8 hours).

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