Business
Infinico Metals Corp Acquires the Nicobi Nickel Project in Quebec
Vancouver, British Columbia--(Newsfile Corp. - September 5, 2023) - Infinico Metals Corp. (TSXV: ...
About this update from Infinico Metals Corp.
[{"type":"text","content":"Infinico Metals Corp Acquires the Nicobi Nickel Project in QuebecVancouver, British Columbia--(Newsfile Corp. - September 5, 2023) - Infinico Metals Corp. (TSXV: INFM) (\"Infinico\" or the \"Company\") is pleased to announce it signed a letter of intent agreement on September 5, 2023 with each of Ressources Broadback Inc. (\"Broadback\") and Julie Gadoury (together, the \"Agreements\"), pursuant to which the Company shall be granted the option to acquire a 100% interest in certain claims, consolidating the Nicobi Project (the \"Property\"). The Nicobi Project comprises 107 claims and is situated at the southwest corner of Nicobi Lake, 75 km east of Lebel-sur-Quévillon and 75 km southeast of Infinico's previously announced Dalhousie orthomagmatic Ni-Cu-Co Project. The Nicobi Project is an ortho-magmatic Ni-Cu-Co-3PGE project located within a mafic-to-ultramafic intrusion of the Abitibi Subprovince. Historical exploration drilling until the early 1990s targeted and revealed disseminated to massive sulphide mineralization. Parts of the property underwent systematic drilling in the 1960s, during which previous operators defined a non-compliant resource. A scout drilling campaign in 1991 intersected 37.61 metres at 0.75% Cu and 0.89% Ni from the surface. This was collared with a 70.0 m step out from the initial discovery, tapping into and opening mineralization in the distal parts of the intrusion. Various geophysical surveys were completed over the property, including a high-quality gravity survey as well as a modern Airbourne Time Domain Electromagnetic (TDEM) survey executed in 2008. The reprocessing of the historical drilling and geophysical data will commence in the coming weeks. Reprocessing of historic drilling and geophysical data in 3D software will help to develop a comprehensive geological model and provide a better understanding of the known mineralization. Modelling of TDEM may also identify previously unrecognized or overlooked conductive features which can be directly targeted with future drilling. This work is expected to quickly fast-track the project so that the Company can commence field work in early 2024. Initial field work will include drilling and downhole electromagnetic surveying (DHEM). The drilling will aim to confirm historic grades and drill intersects, along with starting to test the strike and dept...