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Infinex Ventures Inc. (IFNX)
Current Price: 2.07 UP FROM 1.10 Since
Hot News Out
LAS VEGAS, Jan. 18 /PRNewswire-FirstCall/ - Infinex Ventures Inc.
(IFNX:OB - News; "the Company") and its Board of Directors are pleased
to announce that Infinex has increased its option in the Yew Claims to
a 60% interest from the 55% interest originally agreed upon in the Joint
Venture and Option Agreement dated June 14th 2004.
The Yew Claims are located on Texada Island, B.C. This region has a long
history of mining dating back to 1876. Several high grade copper gold
skarns were mined in the area. The geology of the Yew Claims is set out
in MINFILE 092F/516 as follows:
"The area is dominated by Upper Triassic Karmutsen Formation (Vancouver Group)
volcanic rocks consisting of typically fine-grained and/or feldspar phyric
basalts and amygdaloidal basalts with minor intercalated limestone beds.
At the Yew occurrence, stratigraphy is comprised of three rock units of the
Karmutsen Formation. A lower, thick series of green-grey basalt flows that
texturally change from amygdaloidal and non-amygdaloidal sequences, is overlain
by a thin, white-grey fine-grained limestone that rapidly thins and thickens
over short distances. Overlying the limestone is an amygdaloidal basalt breccia
with fragments of amygdaloidal basalt up to 15 centimetres. White zeolites,
epidote, pyrite, quartz and chlorite comprise vesicle fillings within the basalts.
Two hundred metres north of the occurrence, two small diorite plugs intrude the basalts.