FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Infinity Uncover Tambourah Lithium

20 April 2023 12:28
ASX: IMI

Infinity Mining has identified a lithium-rich pegmatite system at its Tamobourah South Tenement, with a 1,812-metre maiden scout drilling at the Pilbara project project confirming that Lithium bearing pegmatites continue at depth beneath outcropping pegmatites.

The drill hit three areas containing mapped outcropping pegmatites that had returned surface sample assays up to 2.636% Li2O and confirmed that outcropping pegmatites are relativity steeply dipping and appear to merge at depth, with a total of 41 pegmatites units logged in 18 of the 21 holes.

486 samples were collected from the 21-hole campaign and were shown to be highly anomalous in Lithium, with over fifty of the 1-metre samples showing lithium grades from up to 0.994% Li2O and assay results taken from the host mafic volcanics and mafic schists showing elevated to anomalous in the order of 100s ppm Li, indicating a rich system.

The best interval returned from the campaign was 4m @ 0.573% Li2O, with the longest interval being 9m @ 0.332% Li2O.

Results also confirmed elevated to anomalous levels of Caesium, Tantalum and Rubidium within the pegmatites and other host rocks, with 120 samples returning grades up to 2123 ppm Rb and 155.8 ppm Ta and 30 samples showing Cs grades up to 235.9 ppm.

The Company said it believes that these results indicate the project has high prospectivity for blind or concealed pegmatites and that currently exposed pegmatites may be the upper parts of a larger more fertile system at depth.

“Infinity believes that the current assay results are highly encouraging and that Tambourah South is still a very fertile Lithium system that is under-explored. The ongoing 3D geology interpretation incorporating the results from the current passive seismic survey will enable the Company to identify prospective concealed pegmatite targets,” chief executive Joe Groot.

The company is still awaiting assays for intervals not tested in the first batch and is nearing completion of an extensive ambient noise tomography survey at the prospect to aid in the creation of a 3d model of Tambourah South’s pegmatite system, with the company expecting this program to finish next week.

IMI’s Australian Stock Exchange-listed share price is trading at 18.5c (12.04 pm 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