Infinity Mining Limited (ASX: IMI) has completed the acquisition of three new, highly prospective tenements in the East Pilbara, WA from TasEx Geological Services Pty Ltd. The new tenements include E45/5847, E46/1373 and E45/5720.
The new exploration licences add an additional 98.83 sq. km in granted tenure, strengthening Infinity’s position in the region to a total of 780.35 sq. km. This new ground is considered highly prospective for shear hosted gold and VHMS deposits and paleo-placer gold deposits and adjoins the company’s Tambourah South Lithium Project providing further LCT discovery potential.
The acquisition follows a Sale Purchase Agreement (SPA) with TasEx to acquire 100% interest in granted tenements E45/5847, E46/1373, E45/5720 and tenement applications E45/6237 and E45/62811.
The completion of the TasEx Sale Purchase Agreement was conditional upon the following:
1. Applications being granted.
2. All necessary Ministerial consents for the transfer of the granted tenements being given under the Act.
3. All necessary third-party consents to the disposal of a Sellers’ rights and obligation under any contract have been obtained; and
4. The seller and the purchaser have received all necessary shareholder and Board approvals for the signing of this document and the issue of the shares as applicable.
All conditions have since been met for the transfer of granted tenements E45/5847, E46/1373 and E45/5720.
“We are very pleased to have completed the transfer of tenements from TasEx and are confident that these new areas will provide a number of new and highly prospective exploration targets for Infinity,” Chief Executive Officer, Joe Groot, said.
“Most importantly, some of the new areas lie directly adjacent our Tambourah South Project, where the Company has previously identified lithium-bearing pegmatites. We look forward undertaking a detailed geological review of the new assets, which will potentially aid in future discoveries.
“Infinity now has a commanding footprint in the East Pilbara, which spans over 780 sq. km, containing very favourable geology. We look forward to continuing exploration initiatives to further develop the region and unlock value for shareholders.”
For further information please visit: https://infinitymining.com.au/
