- Infinity Stone (GEMS) is planning a spin-out of its Rockstone Graphite Project near Thunder Bay, Ontario
- The news follows the successful refinement of graphite samples from the project to 99.73-per-cent purity
- Fall drilling results at Rockstone are highlighted by 3.36 per cent Cg over 101 m
- Infinity Stone aims to become a single-source supplier for critical energy metals while operating its established SaaS portfolio
- Infinity Stone Ventures (GEMS) is down by 3.7 per cent trading at $0.13 per share
Infinity Stone (GEMS) is planning a spin-out of its Rockstone Graphite Project near Thunder Bay, Ontario.
The news follows the successful refinement of graphite samples from the project to 99.73-per-cent purity.
The company will distribute ownership of the project to current Infinity Stone shareholders by dividend or plan of arrangement.
Given drill results to date – see below – the company believes Rockstone merits an expanded exploration program to build further shareholder value.
“Rockstone has the best opportunity for further investment and accretive value to existing shareholders in a standalone entity,” said Zayn Kalyan, CEO of Infinity Stone. “Graphite is receiving considerable attention in international markets, specifically Australia, where we see potential for accretive valuations for assets like Rockstone and we intend to explore all available avenues with regard to the spin-out structure.”
“We intend to continue to replicate this model and/or joint venture with other projects in our portfolio,” he added.
Rockstone Fall drill program highlights
| Drillhole | From (m) | To (m) | Interval (m) | Cg (%) | Zn (%) |
| RS-22-01 | 68.17 | 73.0 | 4.83 | 15.68 | 0.56 |
| including | 68.17 | 70.5 | 2.33 | 24.05 | 0.72 |
| RS-22-03 | 45.0 | 61.45 | 16.45 | 1.87 | 0.06 |
| and | 80.0 | 181.0 | 101.0 | 3.36 | 0.13 |
| including | 106.0 | 177.26 | 71.26 | 4.67 | 0.17 |
| including | 139.12 | 143.44 | 4.32 | 21.96 | 0.78 |
| RS-22-04 | 84.0 | 98.0 | 14.0 | 10.86 | 0.42 |
| including | 89.0 | 96.0 | 7.0 | 17.94 | 0.60 |
As previously reported, RS-22-02 encountered gold mineralization to be followed up with an extended drill program.
Infinity Stone aims to become a single-source supplier for critical energy metals while operating its established SaaS portfolio.
Infinity Stone Ventures (GEMS) is down by 3.7 per cent, trading at $0.13 per share as of 11:14 am EST.
