Infinity Mining (ASX:IMI) acquires Cangai Copper Project

Infinity Mining Limited (ASX:IMI) has signed a binding agreement to purchase the Cangai Copper Project, comprising exploration tenements EL8625, EL8635, and EL8601 located in New South Wales. The project boasts a JORC2012 compliant Mineral Resource Estimate of 4.4Mt @ 2.5% Cu Inferred Insitu and 0.2Mt @ 1.35% Cu Indicated from historic stockpiles, demonstrating significant potential for resource expansion.

Executive Commentary on Cangai Copper Project Acquisition

The acquisition of the Cangai Copper Project represents a significant opportunity for Infinity Mining, aligning with our recent acquisitions announced on 15th August 2024. With rising copper demand and the project's outstanding historical grades, we are eager to unlock its full potential through targeted exploration and development, creating additional value for our shareholders.

Summary of Cangai Copper Project Acquisition

Infinity Mining (ASX:IMI) has entered into a binding agreement to acquire the Cangai Copper Project, which includes exploration tenements EL8625, EL8635, and EL8601. The project has a JORC2012 compliant Mineral Resource Estimate of 4.4Mt @ 2.5% Cu Inferred Insitu and 0.2Mt @ 1.35% Cu Indicated from historic stockpiles, with significant potential for resource expansion. The company plans to initiate an extensive exploration program at the Cangai site, focusing on unmined sections and the high-grade supergene copper zone. Infinity Mining intends to update the current Mineral Resource Estimate and move the project towards production readiness in the near term. The acquisition is subject to standard regulatory conditions apparent in NSW, and the completion period is 60 days after execution of the Term Sheet. The company's Executive Chairman, Joe Phillips, expressed enthusiasm for the acquisition, highlighting the rising copper demand and the project's historical grades as key factors driving the decision to unlock its full potential through targeted exploration and development.