Vancouver, British Columbia--(Newsfile Corp. - April 6, 2022) - Infinity Stone Ventures Corp. (CSE: GEMS) (OTC PINK: TLOOF) (FSE: B2I0) (formerly Contakt World Technologies Corp.) (the "Company" or "Infinity Stone") is pleased to provide, further to its announcement on March 31, 2022, further information regarding its 100% acquisition of the PAK South and PAK Southeast claims (the "Properties"), located approximately 170km north of Red Lake, Ontario, in the Red Lake Mining Division (the "Agreement").
The PAK South and PAK Southeast properties cover 1258 hectares and 158 hectares, respectively, and cover several pegmatite units identified in regional mapping by the Ontario Geological Survey (OGS)(1). The Properties are adjacent to Frontier Lithium's (TSXV: FL) PAK Lithium Project, which includes two lithium deposits, the Spark Deposit and PAK Deposit, as well as two other prospects(3). On February 16, 2022, Frontier Lithium announced that it encountered "405 metres of 1.5% Li2O" at its Spark Deposit(4).
Frontier Lithium's PAK Deposit hosts a mineral resource in measured and indicated categories of 6.68Mt @ 2.02% Li2O and inferred of 2.67Mt @ 2.29% Li2O, while the Spark Deposit hosts an indicated resource of 14.4Mt @ 1.40% Li2O and an inferred resource of 18.1Mt @ 1.37% Li2O(2)(3). The Company is unable to verify the information respecting results at these properties. Furthermore, the information presented herein is not necessarily indicative of the mineralization on the Properties.
Highlights
Figure 1: Map of Infinity Stone Claims
To view an enhanced version of Figure 1, please visit: https://orders.newsfilecorp.com/files/8151/119458_654abb51c4ddbb97_002full.jpg
Exploration Plan
Infinity Stone will focus on locating the mapped pegmatitic units as identified by the OGS and intends to dispatch a geological team to the newly acquired ground to initiate a field reconnaissance program as soon as weather conditions permit. The Company will release an exploration plan prior to commencement of work.
About LCT Pegmatites
LCT (lithium-cesium-tantalum) pegmatites are enriched in the incompatible elements lithium, cesium, tin, rubidium, and tantalum, and are distinguished from other rare-element pegmatites by this diagnostic suite of elements. They are a petrogenetically defined subset of granitic pegmatites that consist mostly of quartz, potassium feldspar, albite, and muscovite. The major lithium ore minerals are spodumene, petalite, and lepidolite. LCT pegmatites typically occur in groups, which consist of tens to hundreds of individuals and cover areas up to a few tens of square kilometres.(2)
These deposits are an important link in the world's supply chain of rare and strategic elements, amounting to about one quarter of world lithium production, with the largest deposits by tonnage including Greenbushes, Wodgina, and Pilgangoora (Australia), and Manolo-Kitotolo (DRC).(2)
About Lithium
Lithium is primarily used in the production of lithium-ion batteries and is a critical element in the production of electric vehicles (EV). Panasonic, TESLA (NASDAQ: TSLA), CATL, LG Chem made several announcements recently on battery manufacturing facilities to be located in North America and Europe for the projected increase in EV manufacturing and TESLA recently announced a lithium offtake agreement with Core Lithium of Australia(5).
Qualified Person
The technical information in this news release has been reviewed and approved by Case Lewis, P.Geo., a "Qualified Person" as defined under NI 43-101 Standards of Disclosure for Mineral Projects.
Warrant Re-Pricing
The Company also announces that it is re-pricing existing warrants to bring them more into line with the Company's trading prices. Details include:
References
About Infinity Stone Ventures
Infinity Stone Ventures Corp.'s mission is to deliver solutions across industries. The Company's primary business units are Contakt World and HealthCheck (Stratum Health Technologies LLC) and the Company is actively looking to acquire portfolio assets in other sectors such as SaaS solutions and energy metals.
To register for investor updates please visit https://infinitystone.ventures.
Infinity Stone Ventures Corp.Zayn Kalyan CEO and Director zayn@altuscapital.ca Direct: 778-938-3367
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
Forward-Looking Statements Disclaimer
This press release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "projects", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements, including statements respecting: the anticipated work program at the Properties; and the re-pricing of warrants of the Company. Although forward-looking statements contained in this press release are based upon what management of Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements may also be affected by risks and uncertainties in the business of the Company, including those described in the Company's public filings available on www.SEDAR.com. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
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SOURCE Infinity Stone Ventures Corp.