Infinity Stone Ventures Corp (CSE:GEMS) has named director and long-term shareholder Michael Townsend as its executive chairman as the company updated on current exploration efforts.
At its Buda pegmatite project, 50 kilometres (km) from Thunder Bay in Ontario, the firm has been prospecting and sampling and has sent 55 samples to the lab and expects results in the coming weeks.
The property hosts seven (lithium-cesium-tantalum) pegmatites, which were mapped in the 1980s, and previous data show elevated values of lithium, cesium, tantalum, niobium, and rubidium, said the company.
Meanwhile, at the Galaxy pegmatite project in Southern Quebec, Infinity Stone said it has mobilized an exploration team for prospecting, sampling, hand stripping, and channel sampling. Work will also include the collection of 150kg bulk sample for further metallurgical processing.
READ: Infinity Stone Ventures solidifies option agreement with Quartier Minerals for Galaxy pegmatite project in Quebec
At the Zen-Whoberi copper, cobalt, platinum and palladium project in Quebec, the company said it has now received assays from the geochemical survey.
The soil sampling program comprised around 1,000 soil samples on a 2 square km grid with 25-metre-spacings.
With the results received, Infinity Stone said it was now plotting the results on a geochemical map and completing the relevant assessment.
On the appointment of Townsend, the company said he has been a director since April 2022 and has "evidenced his commitment and support", having acquired just over 17% of its issued and outstanding shares.
"Mr Townsend has been a long-time shareholder and supporter of Infinity Stone and has been instrumental in the Company's renewed focus on mineral exploration and energy metals," said Zayn Kalyan, CEO of Infinity Stone in a statement. "We value Mr Townsend's extensive experience in the junior mining sector and his track record of success and significant creation of shareholder value."
Infinity also highlighted the "continued strength" in the energy metals market, reaffirming its strategy of focusing on critical minerals needed to fuel the electrification of the global economy.
Infinity Stone says its mission is to be a diversified, single-source supplier for the critical energy metals being used in the clean energy revolution alongside its established software-as-a-service (SaaS) solution portfolio.
Contact the author at giles@proactiveinvestors.com