Infinity Mining secures copper mine option and $2.3M

• Infinity Mining has secured a two-year option to acquire a 100% interest in the Swansea copper mine in Arizona.
• The company raised $2.3 million via a two-tranche share placement to fund the exploration venture.
• The new capital will primarily support ongoing exploration, historical data compilation, and permitting across its portfolio.

Infinity Mining (ASX:IMI) has secured a two-year option over an Arizona copper mine while raising $2.3 million.

This transaction introduces copper exploration to the business after previously focusing on its Western Australian gold and lithium tenements.

“We are excited to have secured this opportunity to include copper in a Tier 1 jurisdiction such as Arizona,” said Infinity Mining Executive Chairman Adrian Byass.

The placement price of $0.01 per share represents a 23.1% discount to the last traded price, the company stated.

Following the announcement, the Infinity Mining share price was unchanged at $0.01.

The new funds will support exploration, data compilation, permitting, and geophysical surveys.

The expansion follows the company's recent exploration mobilisations at its Hillside and Walhalla projects earlier this year.