Vancouver, Canada, December 07, 2023 – Infinico Metals Corp. (“Infinico” or the “Company”) (TSX-V: INFM) is pleased to announce a geophysical and diamond drill work program at its Nicobi Project, located 160 kilometres northeast of Val d’Or, Québec. The company has contracted Abitibi Geophysics Inc. to conduct a Fixed Loop (Deep EM) TDEM geophysical survey, expected to start within the next week. In addition, Infinico has signed a contract with Orbit Garant Drilling Services Inc. to provide diamond drilling services and intends to start its first-phase 1,000 metre drill program at its Nicobi project before the end of January 2024.
Surface Geophysics
Infinico has engaged Abitibi Geophysics Inc. to conduct a Fixed Loop (Deep EM) TDEM geophysical survey on the Company's Nicobi Project (Figure. 1). Line cutting is under way and the Company expects that the survey should be completed before the end of December 2023.
The survey is expected to enhance the understanding of the mineralized intrusion, assisting the Company in expanding the footprint of known mineralization and in defining targets at depth ahead of the Company’s 2024 drill program.
In addition to the Fixed Loop (Deep EM) TDEM survey, Borehole EM (BHEM) will be conducted together with the planned diamond drilling. The BHEM will be used shortly after each borehole is complete and will assist in vectoring in towards massive sulphide.
Diamond Drilling
Orbit Garant Drilling Services Inc, of Val d’Or, Québec, has been contracted to provide the Company with diamond drilling services for the 2024 exploration program. The first phase diamond drill program will total 1,000 metres.
Drilling will initially focus on confirming historic grades and drill intersects, expanding the footprint of the known mineralization, along with starting to test the depth extent of the mineralized intrusion. This phase of drilling is fully permitted with access trails and site preparation already complete.
The Company has secured the necessary facilities and infrastructure for core logging and sample preparation in Val d’Or. Staffing and drilling program preparation is currently underway.
Sam Walding, Infinico’s CEO, commented: "Since optioning the Nicobi Project in late September 2023, we've moved quickly with preparations for our first phase drill program. We now have the foundations for an excellent technical team, a first-rate drilling partner, and all the necessary local infrastructure near the project. This program is fully permitted, and we expect that drill mobilization will commence before the end of January 2024. This is an exciting phase for the Company and its shareholders, and I look forward to seeing and sharing drill results in the coming months."
About the Nicobi Project
The Nicobi project is located approximately 160 kilometres northeast of Val d’Or, Quebec, Canada. The project is host to a cluster of magmatic nickel sulphide occurrences within a mafic-ultramafic intrusive complex. Drilling of a surface showing in the 1960’s by Noranda revealed disseminated to massive nickel sulphide mineralization. Noranda went on to define a non-compliant resource on the project. Multiple drill campaigns have been carried out by six different operators, including the most recent in 1991 which intersected 37.61 metres at 0.89% Ni and 0.75% Cu from surface.
Qualified Person
Szabolcs Orban, MSc, EFG, EurGeol (#1883), OGQ (AS-1617) is Vice President of Exploration for Infinico Metals Corp. and Qualified Person as defined by NI 43-101 has reviewed and approved the scientific and technical content of this news release.
About Infinico Metals Corp.
Infinico Metals Corp. is a public company on the TSX Venture Exchange (TSX-V: INFM) focusing on the exploration for critical metals (nickel, copper and cobalt) in the province of Québec. The Company has signed option agreements on the Nicobi Project, hosting magmatic Ni-Cu-Co sulphide mineralization, which will be drill-tested early in 2024, and on the Dalhousie Project, which also hosts magmatic Ni-Cu-Co sulphide mineralization.
For more information, please contact:
Sam Walding, Chief Executive Officer
Telephone: (+44) 7568 508610
swalding@infinicometals.com
www.infinicometals.com
Forward Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release includes certain “forward-looking statements” which are not comprised of historical facts. Forward looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the grant of Options, the appointment of certain officers of the Company, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfil the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.