Infinico Announces the Start of Drilling Operations at the Nicobi Nickel, Copper & Cobalt Project
Infinico Announces the Start of Drilling Operations at the Nicobi Nickel,
Copper & Cobalt Project
Vancouver, Canada, July 22, 2024 – Infinico Metals Corp. (“Infinico” or the “Company”) (TSX-
V: INFM) is pleased to announce that drilling operaKons have commenced at its Nicobi Project,
located 160 kilometres northeast of Val d’Or, Québec. The program is fully funded with
approximately CAD$ 1.1 million currently in the Company treasury.
Nicobi Drill Program
Drilling has commenced on the Nicobi nickel, copper and cobalt Project. Orbit Garant Drilling
Services Inc, of Val d’Or, Québec, have been contracted to provide the Company with drilling
services. A minimum of 1,000 metres of diamond drilling is planned for the program. Five
boreholes are designed to follow up on the 1,167 m Phase 1 drill program conducted in
January 2024, which intersected 51.94 m at 1.37% Ni as detailed in the February 27, 2024
press release, as well as targeKng a highly conducKve electromagneKc feature idenKfied in a
BHEM survey, as detailed in the April 24, 2024 press release. The drill program will test the
down plunge extent of mineralizaKon, targeKng extensions of mineralizaKon at depth and to
the north of exisKng drilling. The area being targeted has not seen any previous drill tesKng.
Borehole Electromagne4cs
AbiKbi Geophysics have been contracted to conduct the Borehole TDEM surveys. The
Borehole TDEM surveys will be conducted alongside the diamond drilling with the aim of
idenKfying off-hole conducKvity anomalies. The use of Borehole TDEM surveys will aid in the
targeKng and idenKficaKon of new zones of mineralizaKon.
Sam Walding, Infinico’s CEO, commented: ”This phase of drilling will look to build on the
outstanding results iden5fied in Infinico’s January 2024 drill program. We have clear geological
targets to test down plunge to the north of the known mineraliza5on, and a highly conduc5ve
BHEM feature to drill test. The work program is targe5ng areas not previously drill tested, with
the objec5ve of extending and growing the known mineraliza5on.”
Figure 1. Map displaying the planned Phase 2 boreholes and the January 2024 Phase 1 drill
program at the Nicobi Project
About the Nicobi Project
The Nicobi Project is located approximately 160 kilometres northeast of Val d’Or, Québec,
Canada. The project is host to a cluster of magmaKc 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 mineralizaKon. Noranda went on to define
a non-compliant resource on the project. MulKple drill campaigns have been carried out by
six different operators, including the best reported historic drill intercept of 37.61 metres at
0.89% Ni and 0.75% Cu from surface in 1991 (Minorca Resources Ltd., 1993). Infinico Metals
conducted a 1,167 m drill program in January 2024 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 ExploraKon
for Infinico Metals Corp. and Qualified Person as defined by NI 43-101 has reviewed and
approved the scienKfic 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 exploraKon for criKcal metals in the province of Québec. The Company has signed
opKon agreements on the Nicobi Project, hosKng magmaKc Ni-Cu-Co sulphide mineralizaKon,
and on the Dalhousie Project, which also hosts magmaKc Li pegmaKtes & Ni-Cu-Co sulphide
mineralizaKon.
For more informaKon, please contact:
Sam Walding, Chief ExecuKve Officer
Telephone: (+44) 7568 508610
swalding@infinicometals.com
www.infinicometals.com
Forward Looking Statements
Neither TSX Venture Exchange nor its RegulaKon 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 esKmates and statements that describe
the Company’s future plans, objecKves or goals, including words to the e ffect that the
Company or management expects a stated condiKon or result to occur . Forward looking
statements may be idenKfied by such terms as “believes” , “anKcipates” , “expects” ,
“esKmates” , “may” , “could” , “would” , “will” , or “plan”. Since forward-looking statements are
based on assumpKons and address future events and condiKons, by their very nature they
involve inherent risks and uncertainKes. Although these statements are based on informaKon
currently available to the Company, the Company provides no assurance that actual results
will meet management’s expectaKons. Risks, uncertainKes and other factors involved with
forward-looking informaKon could cause actual events, results, performance, prospects and
opportuniKes to differ materially from those expressed or implied by such forward-looking
informaKon. Forward looking informaKon in this news release includes, but is not limited to,
the grant of OpKons, the appointment of certain officers of the Company, the Company’s
objecKves, goals or future plans, statements, exploraKon results, potenKal mineralizaKon, the
esKmaKon of mineral resources, exploraKon and mine development plans, Kming of the
commencement of operaKons and esKmates of market condiKons. Factors that could cause
actual results to differ materially from such forward-looking informaKon include, failure to
idenKfy mineral resources, failure to convert esKmated mineral resources to reserves, the
inability to complete a feasibility study which recommends a producKon decision, the
preliminary nature of metallurgical test results, delays in obtaining or failures to obtain
required governmental, environmental or other project approvals, poliKcal risks, inability to
fulfil the duty to accommodate First NaKons and other indigenous peoples, uncertainKes
relaKng to the availability and costs of financing needed in the future, changes in equity
markets, inflaKon, changes in exchange rates, fluctuaKons in commodity prices, delays in the
development of projects, capital and operaKng costs varying significantly from esKmates and
the other risks involved in the mineral exploraKon 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 commodiKes, capital market condiKons,
restricKon on labour and internaKonal travel and supply chains, and those risks set out in the
Company’s public documents filed on SEDAR. Although the Company believes that the
assumpKons and factors used in preparing the forwa rd-looking informaKon in this news
release are reasonable, undue reliance should not be placed on such informaKon, 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 Kme frames or at all. The Company disclaims any intenKon or
obligaKon to update or revise any forward-looking informaKon, whether as a result of new
informaKon, future events or otherwise, other than as required by law.