Infinity Stone Acquires Shorty West Lithium Project Adjacent to Li-FT Power's Yellowknife Pegmatite Project
Shorty West Project border is approximately 83 meters from the Hi (Shorty) pegmatite on LiFT's Yellowknife Lithium Project, that has returned an average 1.07% Li2O in channel sampling.
The Shorty West Lithium Project totals approximately 410 hectares across two claim blocks.
Li-FT's Yellowknife Lithium Project contains numerous spodumene-bearing pegmatites with strike lengths from 100 to 1,800 metres, most of which visible at surface from satellite imagery, where historic channel sampling produced average grades from 1.10 to 1.59% Li2O over widths of 7 to 40 metres.
The Company has also acquired claims adjacent to the Company's Zen-Whorberi Project under the same agreement.
Vancouver, British Columbia--(Newsfile Corp. - December 20, 2022) - Infinity Stone Ventures Corp. (CSE: GEMS) (OTCQB: GEMSF) (FSE: B2I) (the "Company" or "Infinity Stone"), is pleased to announce that it has acquired the Shorty West Lithium Project (the "Project" or "Shorty West Project") in the Northwest Territories, Canada (the "Acquisition"), covering 410 hectares across two claim blocks. The Shorty West Project is located directly adjacent to Li-FT Power Ltd. ("LiFT") Yellowknife Lithium Project ("Yellowknife Lithium Project"), which contains 14 different spodumene-bearing lithium pegmatite systems, which are largely visible from satellite imagery. Historic channel sampling has produced average grades from 1.10 - 1.59% Li2O over widths of 7 to 40 metres. Strike extents of pegmatites visible on surface are 100 to 1,800 metres.(1)
The Shorty West Project boundary is approximately 83 metres from the Hi (Shorty) pegmatite on LiFT's Yellowknife Lithium Project. The Hi (Shorty) pegmatite has a mapped surface area of 17,000m2 and has returned an average 1.07% Li2O from channel sampling.(1)
The Company plans to conduct further exploration and analysis to assess the Shorty West Project's potential. The Company looks forward to updating shareholders on its plans for the Project as more information becomes available.
The Company has also acquired claims, totalling approximately 354 hectares, adjacent to the Company's Zen-Whoberi Project (the "Zen Claims") under the same agreement. The Company has previously announced the return of 15.5% Cu in grab sampling from the Zen-Whorberi Project.
"We are excited about the potential of the Shorty West Project and plan to conduct further exploration and analysis to fully assess the Project's potential. The proximity to Li-FT Power's project and their high-grade results from historic channel sampling give us confidence in the potential of the Shorty West Project," said Zayn Kalyan, CEO of Infinity Stone. "We look forward to updating shareholders on our plans for the Project as more information becomes available," furthered Mr. Kalyan.
Terms of Acquisition
Pursuant to the Acquisition, the Company is acquiring a 100% interest in and to the Project upon paying $17,500 in cash and issuing 600,000 subordinate voting shares ("Shares") of the Company to the Project vendor. The Shares are subject to statutory 4-month hold restrictions.
Technical information in this news release has been reviewed and approved by Case Lewis, a "Qualified Person" as defined under NI 43-101 Standards of Disclosure for Mineral Projects and a director of the Company.
(1) "Lithium Yellowknife Project". Li-FT Power Ltd corporate website accessed December 14, 2022. https://li-ft.com/lithium-yellowknife-project/.
About Infinity Stone Ventures
Infinity Stone's mission is to be a diversified, single source supplier for the critical energy metals being used in the clean energy revolution alongside its established SaaS solution portfolio. Infinity Stone is meeting the demand from battery and wind turbine manufacturers, nuclear and hydrogen energy producers, and energy metals speculators by acquiring 100% interest in critical mineral deposits and occurrences in stable mining-friendly jurisdictions, close to final use destinations in North American manufacturing hubs.
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