Infinity Metals Limited, an Australian-based mineral exploration company focused on developing its portfolio of projects, has announced a significant expansion of its interests. The company, which also pursues tin exploration in NSW, has secured an exclusive 24-month option to acquire a 100% interest in the historic, high-grade Swansea copper mine in Arizona, USA. Concurrently, Infinity Metals has successfully completed a A$2.25 million two-tranche placement, drawing strong demand from existing shareholders and new institutional and sophisticated investors.
The Swansea Project boasts a rich history, with documented production of approximately 29 million pounds of copper at a head grade of 2.43% between 1908 and 1937. Historical operations demonstrated high metallurgical recovery, yielding copper concentrates grading 26-28% copper. Extensive historical drilling post-mining has revealed significant intercepts, including 18.3 metres at 3.8% copper from 125 metres. A non-JORC historical estimate from 1975 indicated 5,420,000 tonnes at 0.81% copper, though Infinity notes that further work is required to classify this as a JORC Code Mineral Resource. Arizona is a Tier 1 jurisdiction and a major copper producer, with copper added to the U.S. critical minerals list in 2025.
The A$2.25 million placement, offered at A$0.01 per share, represents a 23.1% discount to the last traded price and includes one free unlisted attaching option for every two new shares. Funds raised will be primarily allocated to continuing exploration activities on Infinity Metals’ existing Australian assets, covering the Swansea option acquisition costs, historical data compilation, permitting, geophysical surveys, and planned drill programs at the newly acquired project, alongside general working capital. Infinity Executive Chairman Mr Adrian Byass expressed enthusiasm, stating the opportunity strengthens the company’s balance sheet and will expedite work on Swansea and other exploration assets.
