Infinity Mining adds to east coast presence with granting of Bogong copper-gold project in NSW

Infinity Mining (ASX: IMI) continues to expand its Australian minerals exploration portfolio with the successful granting of the Bogong project copper-gold area in New South Wales.

Infinity announced its intention in mid-August to acquire a string of highly prospective gold and copper exploration projects in NSW, Victoria and Tasmania from various vendors.

At the time, the company noted that the new eastern Australian gold and copper exploration project portfolio to be acquired was an attractive and complementary addition to its existing lithium, gold, copper and base metal assets in WA.

Five-year lease

With promising exploration results in the Lachlan Fold Belt, one of Australia’s premier copper-gold regions, the Bogong licence has been granted for five years.

Executive chair Joe Phillips said that Bogong complements Infinity’s Achilles, Gundagai and Harden exploration licences, along with three others that comprise the company’s Cangai copper project.

“Infinity’s eastern Australian asset expansion reflects the company’s commitment to identifying and developing high-value mineral resources for the future—we look forward to unlocking the potential of these properties and adding value for our shareholders,” he said.

Accelerated exploration

Infinity is preparing to accelerate exploration in NSW, targeting copper-gold and other critical minerals.

Several of Infinity’s newly granted licences lie within the highly-prospective Macquarie Arc of the Lachlan Fold Belt, renowned for hosting world-class porphyry copper-gold systems like Cadia and Northparkes with a history tracing back to the original NSW gold rush.

Infinity’s immediate focus at Bogong is to compile a comprehensive database containing all historical data including drilling results, surface geochemical assays and geophysical data.

Once this database is verified and data is analysed, Infinity will define the best targets for further exploration including modern geophysical and geochemical surveys and other on-ground exploration programs.

The highest-priority targets will be earmarked for drill testing in 2025.

EVGE and GMH deals

Meanwhile, Infinity has executed the formal sale and royalty agreements with the shareholders of GMH Resources and Eastern Victoria Gold Exploration (EVGE)  for the acquisition announced in August of a portfolio of gold and copper projects in NSW, Victoria and Tasmania.

Following shareholder approval of the acquisitions on 30 August 2024 and completion of the placement raising $2 million on 1 November, all conditions precedent to the GMH and EVGE acquisitions have now been satisfied.

As a result, Infinity expects imminent settlement of the transactions.