September 9, 2022 – Vancouver, BC, Canada. Infield Minerals Corp. (TSX-V: INFD) (“Infield” or the “Company”) announces exploration results from the 2022 drilling campaign at its 100% owned Desperado gold-silver property (“Desperado” or the “Property”) in Nevada. The Company commenced drilling in July and completed the program in August of 2022 for a total of 1,517.9 metres of reverse circulation (“RC”)drilling across ten drill holes. All assay results from the program have now been received by the Company.
“The data obtained from the Desperado drilling campaign provides important information about the subsurface rocks, which can lead to a better understanding of the geological framework and exploration potential for the area,” stated Evandra Nakano, President and CEO of Infield. Ms. Nakano continued, “As a priority initiative, we continue to assess quality project opportunities that could augment our portfolio and benefit our shareholders. Infield offers a solid foundation for potential consolidation of exploration and development assets, including a positive cash position, strongly held insider ownership, and an experienced technical and management team.”
The 2022 Desperado drilling campaign was designed to test lithological contacts and structural features for epithermal style mineralization. Many of these features are obscured by desert gravel and were interpreted by Infield using geophysical techniques to “see” under cover. The ground magnetics (“Mag”) and induced polarization (“IP”) geophysical surveys completed by Infield in 2021 identified more than forty anomalous IP trends, from which a selection was prioritized for drill testing. Locations for the ten RC holes drilled by Infield at Desperado are shown in Figure 1.
Several of the selected targets exhibited chargeability highs within lithological contact zones. Drilling of these targets intersected wide zones of up to 20% disseminated pyrite within intensely clay altered rhyolite near contact zones with andesite, corresponding with the chargeability anomalies. Similarly, other targets tested on the property intersected structural features enriched in pyrite. Gold and silver in the area is known to occur in the types of rocks targeted in this campaign, however, only minor amounts of precious metals were returned from the RC rock chip samples that were submitted to the laboratory for analysis. Drill hole collar information is provided in Table 1 and a summary of drill hole intersections is presented in Table 2. Further review of the drilling data in context to the geological environment and additional studies would be required to better understand the potential of additional targets at Desperado.
Table 1: 2022 Desperado drilling campaign collar information
Table 2: Summary of intersections from the 2022 Desperado drilling campaign
The 522 RC rock chip samples collected by Infield in July and August, 2022, were prepared and analysed by American Assay Laboratories in Sparks, Nevada, for fire assays (Au-FA-PB30- ICP), Ag-Grav Ag30 and multi-element geochemical analysis (ICP-2AO36). American Assay Laboratories is an independent geochemical analytical testing laboratory which is ISO-17025 accredited by IAS.
The Company has an ongoing initiative of growing and delivering value through discovery, acquisitions and sustainable development of high quality, high potential assets. As such, Infield regularly evaluates exploration and development assets with a view of expanding and evolving our project portfolio.
Technical information in this news release has been reviewed and approved by Richard Dufresne, P.Geo., Vice-President Exploration for Infield Minerals Corp., and a Qualified Person for the purposes of National Instrument 43-101.
The potential quantity and grade of mineralization described herein is conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in targets being delineated as a mineral resource.
For more information, please contact Evandra Nakano, the CEO, President and a director of the Company, at +1 (604) 220-4691 or email: firstname.lastname@example.org.
On Behalf of the Board of Directors of Infield Minerals Corp.
President, CEO & Director
Infield Minerals is currently exploring for gold and silver in mining-friendly Nevada. Our mission is to grow and deliver value through discovery, acquisitions and sustainable development of high quality, high potential assets for the social and economic benefits of our stakeholders. Founded in 2020, Infield is led by a team of mining entrepreneurs with extensive technical and resource evaluation experience.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements included in this announcement, including statements concerning Infield’s plans, intentions and expectations, which are not historical in nature, are intended to be, and are hereby identified as, “forward‐looking statements”. Forward-looking statements include, among other matters, the exploration plans for the Desperado property. Forward‐looking statements may be, but are not always, identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. Infield cautions readers that forward‐looking statements, including without limitation those relating to Infield’s future operations and business prospects, are subject to certain risks and uncertainties (including geopolitical risk, regulatory, COVID-19 and exchange rate risk) that could cause actual results to differ materially from those indicated in the forward‐looking statements. There can be no assurance that any forward-looking statement will prove to be accurate or that management's assumptions underlying such statements, including assumptions concerning future developments, circumstances or results, will materialize. The forward-looking statements included in this news release are made as of the date of this new release and Infield does not undertake to update or revise any forward-looking information included herein, except in accordance with applicable securities laws.