Vancouver, British Columbia – June 24, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Infinity Stone Ventures Corp. (CSE: GEMS) (OTC PINK: TLOOF) (FSE: B2I) (the “Firm” or “Infinity Stone”) is happy to announce that it has entered right into a letter of intent (“LOI” or “Letter of Intent”) with Quartier Minerals Inc. (“Quartier”) to choice the Galaxy Pegmatite Venture positioned close to Mont-Laurier, Quebec (the “Venture”).
The Venture is host to no less than “30 pegmatite exposures which signify 30 pegmatite dikes”. Blasting and pitting has proven these pegmatites to have widths of 15 to 18 metres in outcrop. Evaluation of the pegmatites reveals anomalous portions of lithium, tantalum, molybdenum, uranium, and thorium.(1)
A historic report on the Venture advised that the noticed presence of lepidolite – an vital lithium-bearing mica ore mineral – in outcrop might point out important portions at depth.(1)
About Lithium-Cesium-Tantalum (LCT) Pegmatites in Quebec
The province of Quebec is host to an plentiful quantity of LCT-type pegmatite intrusions, most notably in areas reminiscent of northern Quebec between Eastmain and Nemiscau, and close to Val d’Or and La Corne.
Lithium-cesium-tantalum (LCT) pegmatites comprise a compositionally outlined subset of granitic pegmatites. The key minerals are quartz, potassium feldspar, albite, and muscovite; typical accent minerals embody biotite, garnet, tourmaline, and apatite. The principal lithium ore minerals are spodumene, petalite, and lepidolite. Most LCT pegmatites are hosted in metamorphosed supracrustal rocks within the higher greenschist to decrease amphibolite facies. Lithium-cesium-tantalum pegmatite intrusions typically are emplaced late throughout orogeny, with emplacement being managed by pre-existing constructions. These pegmatites have a tendency to indicate a regional mineralogical and geochemical zoning sample with respect to the inferred parental granite, with the best enrichment within the extra distal pegmatites.(2)
Phrases of LOI
The LOI contemplates the Firm’s and Quartier’s entry right into a definitive choice settlement (the “Definitive Settlement”) pursuant to which the Firm might be entitled to earn as much as a 100% curiosity within the Venture upon the completion of the next inside two years of execution:
(i) paying Quartier the sum of $50,000 on the date of the execution (the “Execution Date”) of the Definitive Settlement;
(ii) paying Quartier the sum of $100,000 on the primary anniversary of the Execution Date;
(iii) finishing up a minimal of $100,000 in exploration expenditures on the Venture inside one (1) yr of the Execution Date;
(iv) finishing up a minimal of $200,000 in exploration expenditures on the Venture inside two (2) years of the Execution Date;
(v) issuing to Quartier 500,000 class A subordinate voting shares of the Firm (every, a “Share”) on the Execution Date; and
(vi) issuing to Quartier 500,000 Shares on the primary anniversary of the Execution Date.
Upon earn-in underneath the Definitive Settlement, Quartier will retain a 2.5% internet smelter royalty (“NSR”) over the Venture, 1% of which can be bought by the Firm for $1,500,000.
About The Galaxy Pegmatite Venture
The Galaxy Pegmatite Venture covers 22 mineral claims and a pair of pending declare purposes protecting 1,411 hectares in southern Quebec, roughly 45 kilometres northwest of Mont-Laurier, Quebec and 140 kilometres north of the town of Gatineau, Quebec. There may be glorious entry to all components of the Property from highway La Vérendrye 13, by way of the Trans-Canada Freeway (Hwy QC-117), which traverses roughly via the center of the Property. The Property is underlain by no less than 30 pegmatite exposures representing 30 pegmatite dikes of Laurentian or newer rocks of the Precambrian Grenvillian Collection. The final strike of the formation is in a northwesterly path with a close to vertical dip. The 5 minerals related to the pegmatites are lepidolite, columbite, samarskite, euxenite, and thorianite. The property is essentially lined by quaternary until. (1)
The technical data on this information launch has been reviewed and accepted by Rémi Charbonneau, P.Geo., a “Certified Individual” as outlined underneath NI 43-101 Requirements of Disclosure for Mineral Initiatives.
The Firm additionally pronounces a non-brokered personal placement (the “Personal Placement”) of as much as 3,000,000 items (the “Models”) at a worth of $0.15 per Unit, for gross proceeds of as much as $450,000. Every Unit might be composed of 1 (1) Share and one-half of 1 (1/2) Share buy warrant (every entire warrant, a “Warrant”). Every Warrant will entitle the holder to amass one (1) further Share at a worth of $0.30 for a interval of three (3) years from the date of issuance of the Models.
The Firm plans to allocate the web proceeds from the Personal placement to advertising, software program improvement and different basic working capital. The Firm might pay finder’s charges on a portion of the Personal Placement in accordance with relevant securities legal guidelines and the insurance policies of the Canadian Securities Change. The securities issued via the Personal Placement might be topic to a normal 4 month and at some point resale restriction.
The Personal Placement securities haven’t been and won’t be registered underneath the U.S. Securities Act of 1933, as amended (the “1933 Act”), or underneath any state securities legal guidelines, and is probably not provided or offered, straight or not directly, or delivered inside the US or to, or for the account or advantage of, U.S. individuals (as outlined in Regulation S underneath the 1933 Act) absent registration or an relevant exemption from the registration necessities. This information launch doesn’t represent a suggestion to promote or a solicitation to purchase such securities in the US.
About Infinity Stone Ventures
Infinity Stone’s mission is to be a diversified, single supply provider for the essential vitality metals getting used within the clear vitality revolution alongside its established SaaS resolution portfolio. The Firm’s main enterprise items embody HealthCheck (Stratum Well being Applied sciences LLC) and its vitality metals portfolio. Infinity Stone is assembly the demand from battery and wind turbine producers, nuclear and hydrogen vitality producers, and vitality metals speculators by buying 100% curiosity in essential mineral deposits and occurrences in secure mining-friendly jurisdictions, near closing use locations in North American manufacturing hubs.
(1) Corminboeuf, F., 1956. Preliminary Report on Petawaga Mining Company. Quebec SIGEOM Report GM04222.
(2) Bradley, D. & McCauley, A., 2016. A Preliminary Deposit Mannequin for Lithium-Cesium-Tantalum (LCT) Pegmatites. USGS Open-File Report 2013-1008.
To register for investor updates please go to https://infinitystone.ventures.
Infinity Stone Ventures Corp.
CEO and Director
The Canadian Securities Change has not reviewed, accepted or disapproved the content material of this information launch.
Ahead-Trying Statements Disclaimer
This press launch comprises “forward-looking data” inside the that means of relevant securities legal guidelines. Ahead-looking statements are statements that aren’t historic info and are typically, however not all the time, recognized by means of phrases reminiscent of “plans”, “expects” or “doesn’t anticipate”, “is predicted”, “price range”, “scheduled”, “estimates”, “forecasts”, “initiatives”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases or state that sure actions, occasions or outcomes “might”, “might”, “would”, “would possibly” or “might be taken”, “happen” or “be achieved”. Such forward-looking statements essentially contain recognized and unknown dangers and uncertainties, which can trigger precise efficiency and monetary leads to future durations to vary materially from any projections of future efficiency or end result expressed or implied by such forward-looking statements, together with statements respecting: the potential of the Venture; the proposed phrases of the Definitive Settlement; the Personal Placement; and the anticipated use of proceeds from the Personal Placement. Though forward-looking statements contained on this press launch are primarily based upon what administration of Firm believes are affordable assumptions, there may be no assurance that forward-looking statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. The forward-looking statements may additionally be affected by dangers and uncertainties within the enterprise of the Firm, together with these described within the Firm’s public filings accessible on www.SEDAR.com. The Firm undertakes no obligation to replace forward-looking statements if circumstances or administration’s estimates or opinions ought to change besides as required by relevant securities legal guidelines. The reader is cautioned to not place undue reliance on forward-looking statements.
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