Key Highlights

  • The best trench channel returned 4.9 metres at 0.48 g/t gold and 7.71% antimony, including 1.2 metres at 30.20% antimony.
  • The results are surface sampling from an early-stage prospect and are not a mineral resource, and true widths are unconfirmed.
  • Cash was $195,000 at 30 September, with an estimated 0.58 quarters of funding that depends on the proposed Cangai sale.
  • Infinity has a term sheet to sell Cangai to Huntore Australia for $1.0 million in cash, with three months of exclusivity.

Infinity Mining (ASX:IMI) reported the first trench channel sampling assays from its Tanjil Dome prospect in Victoria. The best interval was 4.9 metres at 0.48 g/t gold and 7.71% antimony in channel TTD-002, which included 1.2 metres at 30.20% antimony. The company says it will use the results to plan further trenching and a maiden drilling programme.

The results come with important caveats, and the company's cash is tight. Its September quarter Appendix 5B, released on 30 October 2026, showed $195,000 in cash and an estimated 0.58 quarters of funding. Infinity is relying on a proposed $1.0 million sale of its Cangai copper project to fund operations, but that sale has not yet been agreed in a binding contract.

What the Tanjil Dome assays show

According to the 11 November release, the samples came from 62 channel intervals in 10 trenches, covering 58.1 metres of limited exposures within a soil anomaly about 1 kilometre long. Infinity is exploring Tanjil Dome in a joint venture with Mining One Consultants. Other results included 5.0 metres at 1.30 g/t gold in TTD-006.

The company quotes many grades as gold equivalent. On that basis the TTD-002 interval is 26.92 g/t, but most of that value comes from antimony rather than gold. Infinity also compares the geology with the Sunday Creek gold-antimony deposit about 100 kilometres away. That is a geological comparison only, not evidence of a similar deposit. The company states that true widths, and continuity between exposures and at depth, are unconfirmed, and that continuous mineralisation across the soil anomaly has not been established. These are surface sampling results from an early-stage prospect, not a mineral resource.

A spread of early-stage projects

Infinity describes a portfolio of about 1,310 square kilometres, mainly in Victoria's Melbourne Zone and Western Australia's East Pilbara. At the Hillside copper project near Marble Bar, rock-chip samples from a gossan corridor about 9 kilometres long returned up to 9.4% copper and 163 g/t silver, as reported on 7 July 2026. On 27 October the company said it planned to start drilling at Hillside before the end of the year, after preliminary heritage clearance across 10 proposed drill areas. It also works with Orivium on processing historical smelter slag from Cangai in New South Wales.

Cash, funding and the Cangai sale

According to the 5B, net operating cash outflow was $129,000 and exploration spending was $205,000 for the quarter, partly offset by $171,000 from the sale of investments. Cash fell from $358,000 to $195,000, and the company reported no finance facilities.

On 30 October Infinity announced a term sheet with Huntore Australia to sell Cangai for $1.0 million in cash. About $0.2 million of rehabilitation security would also be returned on completion, and Infinity would keep rights to the slag dumps for four years. Only the exclusivity, confidentiality, costs and governing law terms are binding. The parties agreed three months of exclusivity, and the sale still needs due diligence, a binding agreement and any required approvals. Infinity has said there is no certainty the sale will proceed.

In late September Infinity issued 22.5 million shares as director remuneration and sign-on awards, along with Options and performance rights, rather than raising cash. The company has about 582.4 million shares on issue.

Key risks

The main risks are failure to complete the Cangai sale, which would leave a funding gap and probably lead to a dilutive raising. The trench results may also not hold up at depth when drilled.