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Copper Miner Released Drill Results from Mexico

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Infinitum Copper Corp. has released its drill results from the La Adelita project in Mexico. Read on to see what analysts are saying about this stock and the copper market.

Infinitum Copper Corp. (INFI:TSX) announced in a press release on January 25, 2024, that the company has now earned 80% of the La Adelita project from Minaurum Gold Inc., as well as the results for six drill holes on the project.

The terms of the earn-in agreement stated that the company must make a CA$3 million expenditure on the project, which the company met by making a CA$3,042,090 expenditure.

The drilling was conducted on the Las Trancas target and the Cerro Grande copper zone on the La Adelita project. The majority of the results are from drill hole AD-23-0034, but drill hole AD-23-0029 returned 0.16 grams per tonne (g/t) gold (Au) across 11.75m, while drill hole AD-23-0030 returned 0.219 g/t Au across 6.30m, including 0.7 g/t Au across 1.35m. The two drill holes were intended to test the Sangre del Torro feature.

In the Las Trancas zone, drill hole AD-23-0031 FOUND 0.172% zinc (Zn) across 145.50m, including 0.195% copper (Cu) and 5.755 g/t silver (Ag) across 15.75m, while drill hole AD-23-0032 found 0.253% (Zn) across 30.0m, and 3.32% Cu and 87.9 g/t Ag across 0.50m.

The company reports that drill hole AD-23-0034 returned 0.205 grams per tonne (g/t) of gold (Au), 15.55 g/t silver (Ag), 0.081% copper (Cu), and 0.696% zinc (Zn) between 43.5m and 46.5m; 0.461 g/t Au, 86.00 g/t Ag, 0.401% Cu, and 0.257% Zn between 149.1m and 177.6m; 1.032 g/t Au, 29.84 g/t Ag, 0.117% Cu, and 0.178% Zn between 174.8m and 177.6m; and 0.184 g/t Au, 42.5 g/t Ag, 0.904% Cu, and 0.334% Zn between 205.8m and 209.85m.

Matt Hudson, the CEO and President of Infinitum, commented, 'Infinitum's latest results, in combination with historical drilling programs and our ongoing surface sampling program, continue to demonstrate the potential of La Adelita. Our 2023 program was designed to test the regional potential of the system. Similar geophysical and geochemical evidence that led to the exceptional high-grade results of historic drilling was used to locate the 2023 drill holes." He continued, 'Based on the knowledge we have gained, the company has applied for permits to allow their removal and sale of high-grade mineralized material, which will allow it to potentially generate revenue and also engage in direct exploration of the La Adelita orebody."

The company also recently completed a ZTEM geophysical survey that identified evidence of copper, zinc, and gold mineralization below a dike swarm on the Hot Breccia project. The company reported that some intercepts in this zone had intersected grades of as much as 1% Cu, as well as high levels of zinc.

Matt Hudson commented on this development, "The results of the ZTEM survey conducted in Q3, 2023, has identified a very attractive, large, drill target in a highly complex area of the project. This is especially exciting for Infinitum because of the highly significant deposits that have been found along this historic copper belt."

A Tight Market

Copper has been facing a dramatic supply deficit as demand for the metal moves ever higher.

An essential piece of electric infrastructure, demand for copper has been driven by global initiatives to reduce fossil fuels and emissions. In an interview with Bloomberg, Robert Friedland, co-chairman of Ivanhoe mines, called the copper market 'very, very tight and now in deficit."

Katusa Research called copper 'the backbone of our electric future" and reported that global supply had been impacted by the operations freeze on First Quantum's Cobre Panama mine, which is responsible for producing 1.5% of all copper. Stalled operations in Peru and Chile are also expected to widen the global copper deficit.

The company's investor presentation provided a number of catalysts, including current drilling on the La Adelita project and Cerro Grande.

Ownership and Share Structure

streetwise book logoStreetwise Ownership Overview*

Infinitum Copper Corp. (INFI:TSX)

*Share Structure as of 2/8/2024

Refinitiv provided a breakdown of the company's ownership and share structure, where management and insiders own approximately 12.07% of the company.

Refinitiv reports that Chairman Stephen Blake Robertson owns 3.98% of the company with 2.93 million shares, Director Ivan Chan Po Kwong owns 2.72% of the company with 2.00 million shares, Director Michael Andrew James Wood owns 2.38% of the company with 1.75 million shares, Director Marco Ivan Baptista Roque owns 1.97% of the company with 1.45 million shares, Director Mahendra Naik owns 0.57% of the company with 0.42 million shares, Director Garrick Allen Mendham owns 0.44% of the company with 0.33 million shares, and Director Melinda Hsu owns 0.01% of the company with 0.01 million shares.

Refinitiv reports no institutional investors.

According to Refinitiv, there are 73.59 million shares outstanding with 64.71 million shares outstanding, while the company has a market cap of CA$1.09 million and trades in the 52-week period between CA$0.01 and CA$0.09.

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Important Disclosures:

  1. Infinitum Copper Corp. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000. 
  2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Infinitum Copper Corp.
  3. Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. 
  4.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

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