Vancouver, British Columbia--(Newsfile Corp. - July 29, 2024) - Infinitum Copper Corp. (TSXV: INFI) (OTCQB: INUMF) ("Infinitum Copper" or the "Company") is pleased to provide an update on progress at the La Adelita project in Mexico, recent developments at the Hot Breccia project.
La Adelita
The Company is excited to be mobilising equipment during the week beginning 29th July 2024. These preliminary works will provide access to the Cerro Grande adit. Once the historic adit can be accessed a mining contractor will be engaged to drive a 100m long 3 metre x 3 metre access tunnel to the mineralised body. This access tunnel will intercept drill hole AD1010 drilled in 2022. AD022 encountered x% copper, 1 g/t Au over a true width of x metres.
Cautionary Note Regarding Production Decisions
The Company's decision to potentially place the mine into production, expand a mine, make other production related decisions or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports from previous operations. The Company is not basing any production decisions on NI 43-101 compliant reserve estimates, preliminary economic assessments or feasibility studies and, as a result, there is greater risk and uncertainty as to future economic results from, including increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit, and a higher technical risk of failure than would be the case if a feasibility study were completed and relied upon to make a production decision.
Hot Breccia
The Company granted an option to Prismo Metals in January 2023. Prismo has continued to advance the project completing a VTEM survey in July 2023. Drilling permits were received from the Bureau of Land Management for 10 drill pads.
Steve Robertson, President of Prismo Metals and former President of the Company, commented, "Getting the permit approval to proceed with this important drill program is a defining event for Prismo Metals as it marks the first time in five decades that exploration on this attractive target can be activated on a property where historical drillings reported several copper intercepts that exceeded 1% copper and elevated zinc. This 5,000-metre program will provide critical information on the vectoring needed to lead us to the heart of the yet another mineralizing system in one of the most prolific copper districts on the planet."
The board has also agreed a remuneration package for current directors and key personnel. A total of 1,340,000 DSUs vesting 16th March 2026 and 1,650,000 options with a strike price of $0.08 vesting in 3 tranches beginning March 2025 will be used to compensate directors and key personnel.
On Behalf of the Board of Directors of
INFINITUM COPPER CORP.
Matt Hudson
Chief Executive Officer
matt@infinitumcopper.com
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.
About Infinitum Copper
Backed by a strong team of industry veterans, Infinitum Copper is advancing La Adelita project, where the Company has an option to earn an 80% interest. The high-grade copper-silver-gold La Adelita Project is located in Sonora and Sinaloa states in Mexico. La Adelita is a Carbonate Replacement Deposit located in a mineralized district with a rich history.
Infinitum Copper has an option to earn 25% interest in the Hot Breccia project in the heart of the Arizona Copper Belt about 90km north of Tucson, AZ. The Hot Breccia project is prospective for porphyry copper and copper skarn mineralization.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking information" within the meaning of Canadian securities legislation. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Forward-Looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, are inherently subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information may include, but are not limited to, risks generally associated with the Company's business, as described in the Company's Filing Statement dated February 11, 2022. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218086
SOURCE: Infinitum Copper Corp.
