- Newly listed Infinity Mining (IMI) kicks off its drilling program at the Great Northern historical gold mine in the Central Goldfields region of Western Australia
- Roughly 1000 metres of reverse circulation drilling will aim to confirm and extend historical drilling, which defined an inferred resource of 18,300 tonnes at 4.5 g/t gold
- Following a $10 million IPO, CEO Joe Groot says IMI is well-funded and able to focus on its ongoing exploration plans
- Additionally, the company plans to start its copper, gold, lithium and nickel programs in the Pilbara region in March
- Shares in Infinity Mining were down 7.69 per cent on Monday, closing at $0.18 each
Newly listed Infinity Mining (IMI) has kicked off its drilling program at the Great Northern historical gold mine in the Central Goldfields region of Western Australia.
The 1000-metre reverse circulation drill program has been designed to confirm and potentially extend drilling undertaken in 1987 and 1988, which defined an inferred resource of 18,300 tonnes at 4.5 grams of gold per tonne.
Infinity is a spin out of Macarthur Minerals’ lithium entity and commenced trading on the ASX following a $10 million initial public offering (IPO).
CEO Joe Groot said following the IPO, the company is well-funded and able to focus its efforts on delivering value to its shareholders through ongoing exploration.
“We have been working through the Christmas/New Year period to prepare for the maiden drilling program at the Great Northern Gold Mine and this has now kicked off,” Mr Groot said.
“Over the next few months our experienced geological team will conduct aircore drilling on tenements in the Central Goldfields specifically on the Barlows’ Lease which has never had any modern geological work undertaken as the lease has always been in private hands.”
Additionally, the company has planned a 3000-metre reverse circulation drilling campaign in the Pilbara which is being designed by its head geologist with mapping and soil sampling data from a previous field campaign at the Hillside lease. Results from this work are expected soon.
In the lithium space, IMI is prioritising gaining open track access to its three key lithium tenements to further its geological review of the areas.
Shares in Infinity Mining were down 7.69 per cent on Monday, closing at $0.18 each.