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Infinity Stone Ventures Corp (2)
Symbol	GEMS
Shares Issued	46,464,423
Close 2024-01-09	C$ 0.04
Market Cap	C$ 1,858,577
Recent Sedar+ Documents

Infinity Stone provides Tesla technical review

2024-01-10 11:07 ET - News Release

Subject: GEMS News Release Word Document File: '\\swfile\EmailIn\20240110 075954 Attachment 24-01-10 GEMS NR-Tesla Tech Review.docx' INFINITY STONE PROVIDES TECHNICAL REVIEW OF TESLA IRON PROJECT Vancouver, BC, January 10, 2024 - Infinity Stone Ventures Corp. (CSE:GEMS) (OTC:GEMSF) (FSE:B2I) (the "Company" or "Infinity Stone") is pleased to announces today a technical review of its newly acquired Tesla Iron Project located in Quebec, Canada. The Project is comprised of six mineral claims covering 277.79ha, and is situated 120 km south of Kuujjuaq, Quebec. The Project is found in the Sokoman Formation of the Labrador Trough, which hosts world-class iron deposits. Lac Otelnuk Iron Ore Project, currently being developed by Metal Quest Mining, lies 200 km south of the Tesla Iron Project and was subjected to a prefeasibility study filed in 2015. The Tesla Iron Project is situated 1km south of Melezes River and include two iron deposits, the Gossen Hill and Old Red that were explored in the fifties by Fenimore Iron Mines. Exploration works included detailed geological mapping and drilling with historical resource estimates1,2. Three types of Iron Formation were identified as 1) hematite-magnetite iron Formation, 2) silicate-carbonate iron formation and 3) spotted silicate-carbonate iron Formation These two iron occurrences were described as strongly folded with moderate to steep dips. At the Gossen Hill, a conglomerate with well rounded pebbles of Iron Formation was also recognized. At the Gossen Hill, an outcrop of almost continuous massive iron-formation is exposed over 1500 m long by 975 m wide and contains two mineralized zones: Gossen Hill No.1 and Gossen Hill No.2. The historical Resources estimates for the Gossen Hill deposit reported 112.67 million tons at 24.0% Fe, 1.5% Mn and 34.7% of insolubles for Gossen Hill Zone 1 and 61.17 million tons at 33.0% Fe, 2.60 % Mn and 34.30% of insolubles3. Red Hill deposit is located 4 km south of Gossen Hill and include a historical resource of 147.67 million tons at 24.50% Fe, 1,52% Mn and 29.82% insolubles for Old Red No. 1 and 100.17 million tons at 32.7% Fe, 2,21% Mn and 35.35% of insolubles for Old Red No.2. The total historical reserves for the two deposits are estimated to 421.68 million tons3. Readers are cautioned that the above-quoted estimates date back to 1955 and were compiled in a document that was prepared in 1971, prior to the implementation of National Instrument 43-101 and related policies and before the establishment of CIMM Standards and Guidelines for Valuation of Mineral Properties. Therefore, all estimates mentioned hereabove are historical and should not be treated as current resource estimate as they do not comply with NI 43-101 standards. Glenn Giles stated " We as a Company rely on the expertise of our Director Jeremy Close, who is an Iron open pit mining geologist specialist, working on numerous iron open pit mines in South Australia since 2010, and Jeremy's enthusiasm for these two historic occurrences is infectious." Jeremy Close stated: "From my 13 plus years of Australian experience in open pit iron ore mining and exploratory drilling to add resources, this historic reported work is an exciting opportunity to create a world class company, if the historic work completed is as stated. Inhouse we are building a geological model using historical drill hole data to wireframe the main polygonal body/ lithology units, and then use this to plan an infill drilling campaign, targeting high grade zones and twinning historical holes to confirm historical results. A visit to the project area will also help determine and map out if there are any existing alluvial Scree channels associated with the main iron source. Scree deposits have been a great secondary DSO source in Australian near surface Iron Ore mining stages, with favourable low strip ratio and low fixed costs. Recently I helped place the closed historical Iron Monarch open cut pit into production in early 2023." As per the mining.com article of January 8, 2024, "Blade runners: how LFP batteries brought EV metal markets back to earth", Lithium Iron Phosphate batteries for electric vehicles using electric vehicle manufacturer BYD 2020 LFP battery technological breakthrough, termed 'blade runners", has helped BYD maintain lower production costs and taken the annual electric vehicle sales lead from TESLA (Q-TSLA). BYD has Warren Buffet of Berkshire Hathaway (Z-BRK.A) as an initial investor. The article also states that the first 10 months of 2023 LFP batteries have captured 31% of global electric vehicle battery supply. LFP batteries do not contain costly Nickel or Cobalt, and in 2023 the majority of TESLA model 3 vehicles are LFP battery powered. LFP batteries have risen to 27,000 tonnes per month and continue to be cheaper than Lithium Nickel Cobalt Manganese electric vehicle batteries. https://www.mining.com/blade-runners-how-lfp-batteries-brought-ev-metal-markets-back-to-earth/?utm_source=Daily_Digest&utm_medium=email&utm_campaign=MNG-DIGESTS&utm_content=blade-runners-how-lfp-batteries-brought-ev-metal-markets-back-to-earth Also, a startup called Form Energy continues to sign customers for usage of the "Iron-Air" energy storage system, as the name suggests Iron and air form the system. News story can be read at this link https://www.energy-storage.news/startup-form-energys-100-hour-iron-air-battery-tech-attracts-another-us-utilitys-attention/ Ana Laura Lopez Pineda stated "Our Iron ore, Open pit mining geologist specialist, lives everyday, working as part of a team or in some cases as team leader, on world class iron open pit mines in Australia, his stamp of approval says a lot about this based on the historic work, which until confirmed by a modern 43-101 standards approach cannot be relied upon; however, as Jeremy already stated, we are not re-inventing the wheel here as other iron open pit mining specialists are mining at baffinland.com, more than 2500 kms north of these historic occurrences, and that project is also historically drilled." Qualified Person Isabelle Robillard, P. Geo, a "Qualified Person" for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release. References 1. Sujkowski, Z. L., 1952. The Geological Structure of Fenimore Iron Mines LTD Concession in Ungava Peninsula. Fenimore Iron Mines LTD; GM 02135-C. 2. Beland, R. 1953. Ore Reserves Calculation with 7 plans. Fenimore Iron Mines LTD, GM 0823-B. 3. MRN 1971. Le Fer au Quebec, Special Paper 012. Investors can sign up for news alerts at www.infinitystoneventures.info About Infinity Stone Ventures Infinity Stone's mission is to be a diversified, single source supplier for the critical energy metals being used in the clean energy revolution alongside its established SaaS solution portfolio. Infinity Stone is meeting the demand from battery and wind turbine manufacturers, nuclear and hydrogen energy producers, and energy metals speculators by acquiring 100% interest in critical mineral deposits and occurrences in stable mining-friendly jurisdictions, close to final use destinations in North American manufacturing hubs. Recently announced the 100% acquisition of the TESLA Iron projects located In Quebec, the Thor manganite occurrence located in Quebec, ground in Ontario and British Columbia in area of American Eagle Gold Corp., and Defense Metals Corp. Connect with Infinity Stone Email | Website | Infinity Stone Contact Glenn Giles Interim CEO and Director Telephone: +1 410 271 5814 ggiles49@yahoo.com The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release. Forward-Looking Statements This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance are "forward-looking statements." These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.