Infinity Mining (ASX:IMI) has expanded its copper–gold exploration portfolio in New South Wales, after being granted the Bogong Copper Project.
The Bogong Project spans 16km of strike length along the Mooney-Mooney Fault System, within the Lachlan Fold Belt. The project is located near other known mineralised deposits, including the Bogong copper occurrence and Goobarrandra copper mine.
Infinity Mining, which has a market capitalisation of $5.81 million, intends to compile a database of all historical data, including drilling results, surface geochemical assays and geophysical data.
Once the data has been reviewed, Infinity will define the best targets for further exploration work. The activities will include modern geophysical surveys, geochemical surveys, and other on-ground exploration programs.
Infinity Mining says the highest priority targets will be flagged for drill testing next year.
Executive Chairman Joe Phillips says a prior drill intercept at the Bogong Project measured over 50m at more than 1% copper, which is an “impressive starting point to build from”.
“Infinity’s eastern Australian asset expansion reflects the company’s commitment to identifying and developing high-value mineral resources for the future,” he says.
The exploration permit covering the Bogong Project is valid for five years and complements the recently granted Achilles, Gundagai, Harden, and Cangai projects. The New South Wales portfolio includes seven granted exploration licences.
Infinity Mining is eager to advance its exploration programs on the tenements, with initial onsite evaluations, geological mapping, and geochemical sampling followed by geophysics and drilling in 2025.
In conjunction, the company has executed formal sale and royalty agreements with privately held GMH Resources’ shareholders and Eastern Victoria Gold Exploration to purchase a portfolio of gold and copper projects across New South Wales, Victoria and Tasmania.
On 30 August 2024, shareholder approval was secured and a $2 million placement was completed.
As a result, all conditions precedent have now been satisfied and Infinity expects to formally settle the transactions shortly.
Infinity Mining is focused on exploring for gold, copper, lithium, and base metals across its project portfolio in Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: iStock & Infinity Mining
