Home > Boards > Canadian > Mining/Resources >

Infinity Minerals Corporation (TSX:IFN)

TSX:IFN RSS Feed
Add TSX:IFN Price Alert      Hide Sticky   Hide Intro
Moderator:
Search This Board: 
Last Post: 5/24/2012 4:56:02 PM - Followers: 0 - Board type: Free - Posts Today: 0



13,515,700 Outstanding 
2,000,000 Warrants Year One @ $.20 Year Two @$.30 
16,867,270 Fully Diluted

Infinity Minerals is focused on acquiring, exploring and developing mineral resource opportunities with the potential to host world class deposits.
 


LOCATION:

Infinity Minerals Corp. holds a 100% interest in two contiguous mineral tenures comprising 317.64 hectares) located approximately four kilometers northwest of the community of Midway in south central BC.

The claims are accessible by existing forest service roads and cover two known gold - silver occurrences identified in the BC Ministry of Mines (BCMEM) Minfile database as the MIDWAY MINE (Minfile No. 082M-194) and the PICTURE ROCK QUARRY (Minfile No.082M-194). Both of the known occurrences are located in the central part of the property. Exploration work has been carried out intermittently in the project area since the 1960's and both of the prospects have undergone intermittent exploration by various mining companies since the early 1980's. The property is considered an intermediate stage exploration prospect.

In general, infrastructure in the vicinity of the subject property is considered excellent. There are existing roads that can be used to access the known areas of mineralization and the proposed exploration areas. There are numerous small streams within the claim area that would easily provide sufficient water for exploration purposes. Trained exploration personnel are available in several local nearby communities.


 

HISTORY OF EXPLORATION:

In the area west of Midway previous exploration work has defined four main areas of mineralization including the Midway Mine Picture Rock Quarry (located within the present Rainbow Property and historically referred to as the Rainbow Property), the Texas-Potter Palmer, the Bruce and the Granada zones (located to the south west of the present Rainbow Property). The project area was initially explored in the 1960's and 1970's for copper by Noranda, Granby Mines, Utah Mining, Texas Gulf and Maymac Explorations and this work identified the Texas-Potter, Bruce and Granada Zones but only limited drill testing was carried out. In the late 1970's and early 1980's a local prospector, David Moore, recognized the potential for epithermal type gold mineralization within the chalcedonic breccia zones and advanced a short underground adit along a mineralized structure (referred to as the Midway Mine) and carried out trenching and sampling at the Picture Rock Quarry within what is now referred to as the Rainbow Property. In 1983 Dentonia Resources and Kettle River Resources optioned the claims from Moore and carried out geological mapping, geochemical surveys and geophysics.

The most significant exploration work carried out within the current Rainbow Property occurred in the late 1980's and early 1990's. Based on the potential for epithermal type precious metal deposits similar to the historic Republic Mine in northern Washington several mining companies carried out exploration work within the boundaries of the present Rainbow Property. In 1987 BP Resources optioned the former Rainbow Property and completed four shallow drill holes to test the Picture Rock Quarry with inconclusive results. In 1989 Minnova optioned the property and completed geochemical surveys and sampling over the Midway Mine area. This work identified a large, northeast trending, multi-element (Au, Ag, Pb, Zn, As) soil anomaly (approximately 300 meters x 100 meters in size) located to the east of the Midway Mine. Trench sampling at the Midway Mine returned values of 2.8 g/t gold and 218 g/t silver over a 4.5 meter interval. In 1990 Minnova completed seven drill holes in the area of the Midway Mine and identified several low grade but significant intercepts. DDH 90-01 intersected a 23 meters of altered felsic intrusive rock mineralized with pyrite that returned a 10.5 interval averaging 0.326 g/t gold and 52.7 g/t silver. DDH-90-04 also intersected the altered intrusive rocks and returned a 12.5 meter interval that averaged 0.242 g/t gold and 17.0 g/t silver. Although the mineralization encountered within the altered intrusive rocks in the initial drilling program returned sub-economic values it is important to note that Minnova also reported that several of the drill holes bottomed in skarn altered intervals of Brooklyn Formation clastic rocks which are an important host of skarn type copper gold mineralization to the southwest of the Rainbow Property. In 2001 Gold City Industries consolidated the claims in the Midway area and completed a limited program of trenching and sampling however the claims were allowed to lapse in late 2008 and the Rainbow Property was acquired by the current owner.

According to Minnova, 1991, sampling of the silicified breccia zones that have been identified to date have returned strongly anomalous gold and silver values and exhibit textures and trace element chemistry that is typical of epithermal deposits. The presence of altered, mineralized intrusive rocks also suggests potential for skarn type mineralization at depth below the levels tested by the shallow drilling that has been completed to date. Based on the results of the drilling program Minnova recommended additional exploration work on the property including systematic soil geochemical sampling of the area south of the Midway Mine and the area east of the Picture Rock Quarry. Minnova also recommended additional drill testing to evaluate the Midway Mine area and the Picture Rock Quarry at depth.

The present Rainbow Property covers the Midway Mine prospect and the Picture Rock Quarry prospect, potential extensions of these zones to the south and an overburden covered area to the east of the Picture Rock Quarry

TSX:IFN
Current Price
Volume:
Bid Ask Day's Range
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
PostSubject
#2   IFN:CN...Infinity Minerals Corporation (Where the Traders Post) Forensicist 05/24/12 04:56:02 PM
#1   New Release Spec_Investor 05/08/12 02:48:40 PM
PostSubject
Consent Preferences