SUBIACO: Infinity Lithium Corporation Limited (ASX: INF) announced today the acquisition of four high-grade gold exploration projects in Victoria’s Lachlan Fold Belt through its purchase of Highland Resources Limited, a subsidiary of Jubilee Metals Limited.
The acquired assets include the Cobungra, Mitta, Goodhope-Union, and Bindi projects, which feature underexplored, drill-ready targets with significant gold and silver potential. Highlights include:
– Comstock Prospect: Shallow (<50m) drill targets identified by geophysical surveys and rock chip samples grading up to 4.4 g/t gold and 303 g/t silver. Permits and land access agreements are secured for immediate drilling.
– Forsyth Prospect: Historical drilling yielded high-grade intercepts, including 5.35m @ 4.7 g/t gold and 334 g/t silver, with mineralization remaining open.
Adrian Byass, Infinity’s executive chairman, stated, “These assets align with our strategy to diversify amid lithium market challenges. We aim to rapidly advance exploration while progressing our San Jose lithium project in Spain.”
The acquisition involved a modest upfront payment of $50,000 cash and 10 million Infinity shares, with additional performance-linked shares tied to exploration milestones.
Infinity plans near-term drilling at Comstock and Forsyth, leveraging existing permits and partnerships. The company emphasized the projects’ location in a proven gold belt and their potential to complement its lithium operations.