Infinity Mining Acquires 12 Tenements, Boosts Copper Resource by 114kt
Infinity Mining has significantly broadened its exploration portfolio across Eastern Australia through key acquisitions and a $2 million capital raise, setting the stage for an active 2025 drilling campaign.
- Acquisition of 12 gold and copper exploration tenements across NSW, Victoria, and Tasmania
- Secured Cangai Copper Project with a JORC-compliant resource of ~114kt contained copper
- Raised A$2 million via share placement to fund exploration activities
- Identified multiple high-priority drill targets for 2025, including at Cangai, Bogong, and Achilles projects
- Continued advancement of lithium and nickel projects in Western Australia alongside Eastern Australia expansion
Strategic Expansion into Eastern Australia
Infinity Mining Limited (ASX: IMI) has taken a decisive step to enhance its exploration footprint by acquiring a portfolio of highly prospective gold and copper projects spanning New South Wales, Victoria, and Tasmania. The acquisitions, formalised during the December 2024 quarter, include 12 tenements covering approximately 3,000 square kilometres, marking a significant geographic and strategic expansion beyond the company’s established Western Australian base.
Key among these is the Cangai Copper Project in northeastern NSW, acquired from Castillo Copper Ltd (ASX: CCZ). This historic mine site boasts a JORC 2012 compliant Mineral Resource Estimate of 4.4 million tonnes at 2.5% copper inferred, supplemented by 0.2 million tonnes at 1.35% copper indicated from historic stockpiles. The total contained copper metal is estimated at around 114,000 tonnes, with additional credits for zinc, gold, and silver, underscoring the project's near-term development potential.
Capital Raise Fuels Exploration Ambitions
To support the advancement of these newly acquired assets, Infinity Mining successfully raised A$2 million through a placement of 106 million new fully paid ordinary shares at A$0.019 per share. The funds are earmarked for exploration activities across the Eastern Australian portfolio and to sustain ongoing projects in Western Australia. This capital injection reflects investor confidence in Infinity’s growth strategy and the potential of its expanded asset base.
Exploration teams have already commenced detailed data analysis, digitising historical drilling and geochemical data to prioritise targets. Notably, the Bogong Copper Project in NSW has historical drill intercepts such as 54.9 metres at 1.06% copper, while the Achilles Gold Project lies within the highly prospective Achilles Shear Zone, an area that has recently attracted metals exploration interest due to significant nearby discoveries.
Western Australia Projects Maintain Momentum
While Eastern Australia commands fresh attention, Infinity continues to develop its Western Australian portfolio, particularly in the Pilbara region. The Woody Project (formerly Tambourah South) has confirmed lithium mineralisation within pegmatites, with the highest drill intercept returning 1 metre at 2.1% Li2O. An Ambient Noise Tomography survey has identified seven high-priority drill targets at Woody, with drilling planned to commence in 2025.
Other WA projects, including Hillside and Panorama, have yielded encouraging nickel and base metal results, with government co-funding secured for upcoming drilling programs. Meanwhile, the Central Goldfields Project near Leonora holds a maiden inferred JORC resource of 63,000 ounces of gold, with ongoing negotiations for potential sale or joint venture partnerships to optimise capital allocation.
Outlook and Next Steps
Infinity Mining’s immediate focus will be on rigorous evaluation and prioritisation of its Eastern Australian assets, with drilling campaigns planned for 2025 to test the most promising targets. Concurrently, the company will advance its lithium and base metal exploration in Western Australia, leveraging government incentives and its growing geological database.
Project-specific updates, including detailed JORC tables and historical production data, are expected to be released in the coming months, providing further clarity on the value and potential of Infinity’s diversified portfolio.
Bottom Line?
Infinity Mining’s bold expansion and capital raise position it well for a pivotal exploration year ahead, but the true test will be in the drill results that follow.
Questions in the middle?
- How will drilling results from the Cangai and Bogong projects influence Infinity’s valuation and development timeline?
- What strategic partnerships or sales might emerge from the Central Goldfields Project negotiations?
- Can the company sustain exploration momentum across both Eastern Australia and Western Australia with current capital?
