Infinico Announces Drilling Results from its Phase 2 Program at the Nicobi Nickel, Copper & Cobalt Project
Infinico Announces Drilling Results from its Phase 2 Program at the Nicobi
Nickel, Copper & Cobalt Project
Vancouver, Canada, August 12, 2024 – Infinico Metals Corp. (“Infinico” or the “Company”)
(TSX-V: INFM) announces that drilling operations have finished at its Nicobi Project, located
160 kilometres northeast of Val d’Or, Québec. The program did not yield any significant drill
results.
Nicobi Drill Program
Five boreholes totalling 1,272 m of drilling was conducted at the Nicobi nickel, copper and
cobalt Project. The program was designed to follow up on and test the northern down plunge
extent of mineralization identified in the Phase 1 drill program conducted in January 2024, as
detailed in the February 27, 2024, press release, and BHEM geophysical features identified in
BHEM surveys, as detailed in the April 2 4, 2024, press release. No significant mineralization
was identified in the drill program and the main area of known mineralization is now
considered closed off.
Future Work
The area of known mineralization in the east of the Nicobi property, known as “Showing A”,
which was the focus of historic work and has been drill tested by Infinico, is approximately
0.15 km2 in size. The Company will now focus on expanding its exploration efforts outside of
Showing A on a regional scale across the rest of the largely un-explored Nicobi claim package,
totalling 59.52 km2 (Figure 1.). Several untested showings and structural corridors exist within
the property and have yet to be explored. T he Company will work towards identifying and
developing drill targets across the property, undertaking geological and geophysical surveys
with the existing exploration funds.
Sam Walding, Infinico’s CEO, commented:” It is disappointing that the Phase 2 drilling did not
identify further mineralization at the Nicobi Showing A. Despite th ese results, the Company
and its team have demonstrated their ability to efficiently and cost-effectively generate and
test targets to the full extent. The Company will continue to generate new targets in the wider
area to test through drilling, with the objective of making technically, socially , and
economically robust discoveries.”
Figure 1. Map displaying the Nicobi claim package and the location of Showing A which was
the focus of historic work and has been drill tested by Infinico
About the Nicobi Project
The Nicobi Project is located approximately 160 kilometres northeast of Val d’Or, Qu ébec,
Canada. The project is 59.52 km 2 in size and host to a cluster of magmatic nickel sulphide
occurrences within a mafic-ultramafic intrusive complex. Drilling of a surface showing known
as “Showing A” in the 1960’s by Noranda revealed disseminated to massive nickel sulphide
mineralization. In January 2024 Infinico Metals conducted a 1,167 m drill program at Showing
A and intercepted 51.94 m at 1.37% Ni, 0.38% Cu, 418 ppm Co & 0.16 g/t Pt+Pd from 6.10 m.
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 in the province of Québec. The Company has signed an
option agreement on the Nicobi Project, hosting magmatic Ni-Cu-Co sulphide mineralization.
For more information, please contact:
Sam Walding, Chief Executive Officer
Telephone: (+44) 7568 508610
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 e ffect 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 prov ides 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 fr om those expressed or implied by such forward -looking
information. Forward looking information in this news release includes, but is not limited to,
drilling results from the Company’s Phase 2 program , 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 prelimi nary 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, u ncertainties 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 var ying significantly from estimates and the other risks
involved in the mineral exploration and development industry, 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.