FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Infinity secure Hillside extension

28 February 2023 09:59
ASX: IMI

Infinity Mining have secured an extension on the 22 sub-block exploration licence E45/4709, part of its 397.5 square kilometre Hillside project in the Western Australian Pilbara.

It firms up holdings considered highly prospective for all of shear-hosted gold systems, volcanogenic massive hosted sulphide base-metal, ultramafic intrusive related nickel-copper and pegmatite hosted lithium deposits.

The tenements lie within the East Pilbara Granite-Greenstone Terrane of the Pilbara Craton, characterised by large granitic complexes flanked by greenstone belts comprised of steeply dipping sequences of volcano-sedimentary rocks, a geological profile which has driven the explorer’s confidence in Hillside’s high prospectivity for a number of metals.

A confidence that Infinity’s own returns have done little to dent, with exploration results of up to 7.08 per cent copper, 30.25 parts per million gold and 1009ppm nickel revealing more potential for massive sulphide accumulations of all three elements.

The company said it was another achievement as it moves on unearthing discoveries through new year’s exploration.

“The 5-year extension granted on E45/4709 is a great success for Infinity. Reconnaissance mapping and surface sampling is planned for the 2023 field season,” chief executive Joe Groot said.

Infinity is also undertaking detailed open-file review and geophysical interpretation over its newly extended tenement.

IMI’s Australian Stock Exchange-listed share price has risen 5.13 per cent today, currently selling at 20c (9.54 am UTC+ 8 hours).

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This