Join our daily newsletter At The Bell to receive exclusive market insights
- Infini Resources (ASX:I88) discovers 40 new targets
- Those targets are interpreted to be lithium-bearing pegmatites
- A mapping campaign will look for those that outcrop ahead of drilling
- The company called its process for finding them “innovative”
- Shares last traded at 23 cents
Infini Resources (ASX:I88) has updated the market on its geotechs’ discovery of forty fresh lithium targets at Paterson Lake, Canada.
The targets were found during a geophysical study using a technique known as microgravity and one which Infini called “innovative” this morning.
Targets were interpreted to be pegmatites potentially hosting lithium at two prospects named Jesse’s and Marko’s respectively. Historical data was also used.
Among the targets are included what could be new clues leading to a deposit currently buried under soil and vegetation.
A follow-up exploration run looking at soil sampling will take off in the coming weeks and months but the real value will be in its mapping of targets. Geotechs are looking for outcrop.
“All of this work supports our aim to discover substantial tonnes of lithium mineralisation adjacent to the development-ready Separation Rapids Lithium Deposit,” Infini CEO Charles Armstrong said.
“Going through this methodical value adding exploration process is highly effective as it increases our geological confidence in the asset and allows for more focused exploration activities that translates to higher probabilities of drilling success,” he added, referencing the microgravity survey.
I88 shares closed last traded at 23 cents.
