Infinity Mining : Significant gold targets at Barlow's Gully Gold Project

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ASX Announcement |30 June 2022

INFINITY DEFINES SIGNIFICANT GOLD TARGETS AT THE

BARLOW'S GULLY GOLD PROJECT

Highlights:

• Rock chip sampling at the Barlow's Gully Gold Project in the Central Goldfields, Western Australia, has returned up to 15.5 ppm Au.
• Subsequent aircore drilling and soil sampling across the Barlow's tenement has defined three significant gold targets - the largest being 480 x 100 m in area.
• The three soil/aircore anomalies contain anomalous levels of gold up to 0.681 ppm Au.
• RC drilling is planned in the next few months to test these high-priority geochemical targets.

Infinity Mining Limited (ASX: IMI) (the Company or Infinity) is pleased to announce the discovery of three significant aircore/soil gold anomalies at their Barlow's Gully Gold Project (Barlow's), in the Central Goldfields of WA.

The Barlow's tenement (P37/8278) is located in the Leonora Gold Mining District of the Central Goldfields. The project lies within an Archaean greenstone belt along the Ursus Fault Zone, which is also host to several significant gold deposits along strike to the SSE, such as King of the Hills and Kailis (see Figure 1).

Numerous historical shallow workings and prospecting pits occur at Barlow's. Until Infinity's involvement, the licence was held in private hands for many years and has not seen any modern-day exploration.

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Figure 1. Infinity Mining's Central Gold Fields Exploration Project including the Barlow's Gully tenement (P37/8278), located along strike from the King of The Hills Gold Deposit.

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Mapping and Rock Chip Sampling

Infinity carried out reconnaissance geological mapping and a rock chip sampling program across the Barlow's tenement in early 2022. A total of 8 rock chip samples were collected, largely from quartz veins at surface. Three of the eight rock chip samples returned high-grade gold assays over 1 ppm Au, with the highest assay being 15.495 ppm Au (see Table 1).

	Sample			East			North			Au
							(ppm)
	B001	311431		6837579		15.495
	B002	311545		6837581		0.092
	B003	311545		6837579		0.06
	B004	311545		6837581		2.884
	B005	311562		6837491		0.407
	B006	311078		6837516		0.026
	B007	311078		6837516		1.047
	B008	310449		6837766		0.02

Table 1. Rock Chip Samples and gold assays - Barlow's Gully.

Aircore Drilling and Soil Sampling

After confirming high-grade gold in surface rock chip samples, a program of aircore drilling was completed by Infinity on the eastern side of the Barlow's tenement where some alluvial cover is present overlying the Archean greenstones. A total of 194 aircore holes were drilled along 150 m to 200 m spaced North-South lines, with drill sites every 25 m spacing along the lines. Holes were inclined at 60 degrees to the north, roughly perpendicular to the bedding foliation, and drilled to the Archaean greenstone basement. Drill hole depth ranged from 1 to 22 m. At each drill hole, a 1 m thick, end of hole sample was collected for analysis. A drill hole collar table with end of hole gold assays is included as Appendix 1.

A soil sampling program was then completed by Infinity on the western side of the Barlow's tenement, where cover is thinner and basement outcrop is partially exposed. Soil samples were collected along 100 m spaced North-South lines, with a sample collected every 50 m along each line. A total of 220 soil samples were collected largely from the C-horizon soil layer. A soil sample site location table with gold assays is included as Appendix 2.

The aircore samples were submitted to Jinning Testing Laboratory in Kalgoorlie, and the soil samples were submitted to ALS Kalgoorlie for gold analysis by fire assay. Details of these programs are included in a JORC (2012) Table 1, attached with this document.

Gold assays for the aircore drilling and soil sampling programs returned highly anomalous results up to 0.681 ppm Au (see Tables 2 and 3). The gold assay results have defined three significant east-west trending gold anomalies of greater than 0.1 ppm Au (see Figure 2). The largest gold zone is 480 m long and 120 m wide.

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Interpretation

The Barlow's tenement lies along a major shear zone associated with the Ursus Fault Zone (see Figure 1), which is cut by a number of secondary cross-cutting structures.

The largest anomalous gold zone at Barlow's (Anomaly 1), is 480 m long and 120 m wide and represents a significant size target for drill testing. Anomaly 1 is also coincident with a magnetic anomaly, which is likely to be associated with a granitoid intrusion, (see Figure 2).

Figure 2. Aircore and Soil Sampling Results for gold - Barlow's Gully showing 3 significant gold anomalies >0.1 ppm Au.

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	SampleID			East			North			HoleID			Hole Depth			EOH			Analysis			Au
									(m)			Sample			Method			(ppm)
BME188	310844		6837202			B22AC188	2			1m-2m		Fire Assay	0.326
BME087	311651		6837523			B22AC087	2			1m-2m		Fire Assay	0.293
BME181	310857		6837067			B22AC181	2			1m-2m		Fire Assay	0.235
BME112	311451		6837594			B22AC112	2			1m-2m		Fire Assay	0.18
BME161	311104		6837506			B22AC161	2			1m-2m		Fire Assay	0.165
BME115	311452		6837656			B22AC115	4			3m-4m		Fire Assay	0.111

Table 2. Aircore End of Hole samples greater than 0.1 ppm Au.

	Sample ID			East			North			Sample			Sample Type			Analysis			Au
							Depth (cm)					Method			(ppm)
BG22SS046	310649	6837522		10			C Horizon		Fire Assay	0.681
BG22SS015	310538	6837151		20			C Horizon		Fire Assay	0.677
BG22SS067	310749	6837528		20			C Horizon		Fire Assay	0.283
BG22SS088	310851	6837599		30			C Horizon		Fire Assay	0.281
BG22SS055	310747	6837194		10			C Horizon		Fire Assay	0.212
BG22SS014	310545	6837111		20			C Horizon		Fire Assay	0.199
BG22SS054	310739	6837147		20			C Horizon		Fire Assay	0.178
BG22SS085	310857	6837530		30			C Horizon		Fire Assay	0.147
BG22SS106	310951	6837631		40			C Horizon		Fire Assay	0.144
BG22SS047	310654	6837553		20			C Horizon		Fire Assay	0.142
BG22SS103	310947	6837548		20			C Horizon		Fire Assay	0.124
BG22SS089	310851	6837624		20			C Horizon		Fire Assay	0.122
BG22SS066	310758	6837494		20			C Horizon		Fire Assay	0.110
BG22SS076	310846	6837276		20			C Horizon		Fire Assay	0.109
BG22SS005	310451	6837236		20			C Horizon		Fire Assay	0.108
BG22SS016	310546	6837204		40			C Horizon		Fire Assay	0.108
BG22SS068	310746	6837548		20			C Horizon		Fire Assay	0.104
BG22SS013	310454	6837619		20			C Horizon		Fire Assay	0.103
BG22SS035	310665	6837175		30			B Horizon		Fire Assay	0.101

Table 3. Soil samples greater than 0.1 ppm Au.

Forward Plan

A program of RC drilling is being planned by Infinity on the Barlow's Gully Gold Project (P37/8278). Infinity intends to carry out a program of inclined RC drilling, angled underneath the three anomalous gold zones, to test for structurally hosted gold mineralisation.

The three highly anomalous gold targets (Anomalies 1 to 3) have never been drilled in the past by previous explorers. Infinity is planning to drill test these anomalies in the coming months.

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