Infinity Stone Ventures Corp. [GEMS-CSE; GEMSF-OTC] reported details on its winter drill program on the 100%-owned Buda lithium project, northwestern Ontario to test pegmatite layers perpendicular to outcrop zones. The company anticipates having pre-drill surveying of roads, trails and pads completed by November 30, 2022, with mobilization of drill equipment following thereafter and commencement by December 5, 2022.
The company was able to re-mobilize drilling equipment from the Rockstone Graphite Fall Drill Program to minimize costs and increase efficiencies. The Winter Drill Program follows the company’s initial exploration program that returned samples with elevated Rb, Be, Li, Cs and Ta values.
“The Buda Lithium Project presents an exciting opportunity to develop a potential lithium deposit located very close to infrastructure, with promising initial results for LCT mineralization. With the initiation of our second drill program this year, we continue to demonstrate our commitment to further exploration across our project portfolio,” said Zayn Kalyan, CEO of Infinity Stone. “Lithium remains one of the few performing asset classes in 2022, and the Buda Project is ideally positioned to meet demand from the rapidly growing North American battery metal supply-chain.”
As reported November 16, 2022, out of the 32 grab samples, one sample returned a lithium value of 367 ppm Li. Seven samples returned rubidium values exceeding 1,000 ppm Rb, with a high of 2,090 ppm Rb in sample E6096115, and an average of 720 ppm Rb across all 32 grab samples. Sample E6096111 returned a highly anomalous beryllium value of 4,200 ppm Be along with 1,320 ppm Rb.
The most notable channel results were 1,408 ppm Rb over 4 metres in channel BD-02-02 and 1,283ppm Rb over 4 metres in BD-03-01. Complete channel sample highlights are reported in the original press release. The Buda Pegmatite is classified as a rare metal LCT pegmatite, which are characteristically enriched in lithium, cesium, tantalum, beryllium, rubidium, niobium, and tin. At least six other pegmatite dikes are present on the property. Present sampling follows local strike orientation of the pegmatite dike swarm, as indicated by structural rock fabric measurements.
The Buda Pegmatite Property is located 50 km west of Thunder Bay, Ontario, along Highway 17/11. Access to the property is excellent, via Highway 17/11 which traverses the western edge of the property, and a network of bush roads which provide access throughout the interior of the property. The property consists of a single block of 68 cells covering 1,451 hectares (3,585 acres).
The last significant program on the property was conducted in the early 1980s by Steep Rock Iron Mines, which was exploring for feldspar. According to documentation by Steep Rock, Buda Station area hosts a “significantly large pegmatite dike worthy of economic consideration.” Seven pegmatite dikes were mapped on the property, the largest being Steep Rock Dike.
In 2009, three grab samples were extracted from exposed pegmatite near Buda Station. One of the specimens returned 210 ppm lithium and two of the samples returned elevated niobium (102 ppm and 143 ppm) and rubidium (764 ppm and 1,080 ppm). Cesium and tantalum values were also found to be moderately elevated.
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.