Infini Reports Peak 7.5% U3O8 Soil Assay Over 800m x 100m Zone at Portland Creek
Infini Resources reports extraordinary high-grade uranium soil assays at its Portland Creek project in Newfoundland, with a peak result of 7.5% U3O8, and announces approval for a maiden diamond drilling program targeting a new discovery.
- 7.5% U3O8 peak uranium soil assay at Talus Prospect, Portland Creek
- High-grade soil anomaly expanded to ~800m x 100m with multiple significant assays
- Permit approved for maiden diamond drilling program with up to 23 planned holes
- Mobilisation of drilling crews underway targeting Talus Prospect
- Exploration activities progressing across multiple uranium and lithium projects
Exceptional Uranium Soil Assays at Portland Creek
Infini Resources Ltd (ASX: I88) has delivered a compelling update for the quarter ending 31 December 2024, highlighting a breakthrough in its uranium exploration efforts at the Portland Creek project in Newfoundland, Canada. The company reported extraordinarily high-grade uranium soil assays over an extensive ~800m by 100m zone at the Talus Prospect, with a standout peak assay of 7.5% U3O8 (74,997 ppm). This anomaly is associated with a complex structural setting involving a north-south shear and three converging secondary faults, which remain open along strike, suggesting significant upside potential.
The expanded soil sampling program, comprising over 1,100 samples, has not only confirmed the initial high-grade anomaly but also identified additional geochemical anomalies to the north and south of the main zone. These secondary anomalies coincide with demagnetised granites and shear zones, reinforcing the prospectivity of the broader Portland Creek tenure for hosting undiscovered uranium mineralisation.
Strategic Drilling Program Approved and Mobilised
This drilling campaign represents a critical step in advancing the project from surface geochemical anomalies to potential resource delineation, with the structural setting and hydrothermal alteration signatures suggesting a robust geological model for high-grade uranium mineralisation.
Broader Portfolio Progress and Financial Position
Beyond Portland Creek, Infini Resources continues to advance its diversified portfolio of uranium and lithium assets across Canada and Western Australia. Notably, the company holds a JORC-compliant inferred resource of 162 million tonnes at 123 ppm U3O8 at the Des Herbiers project in Quebec, and is progressing exploration at the Yeelirrie North uranium project in Western Australia, near the world-class Yeelirrie deposit.
Exploration activities also include geophysical surveys and soil sampling at the Tinco Uranium-Niobium project in Saskatchewan, the Paterson Lake lithium project in Ontario, and lithium projects in Western Australia such as Pegasus and Parna. While some projects saw no new work this quarter, the company is actively managing its portfolio to prioritise high-impact targets.
Financially, Infini Resources closed the quarter with a cash balance of $2.64 million, following a $1 million placement to directors and ongoing exploration expenditure of $1.2 million. The company remains well-positioned to fund its near-term drilling and exploration programs, with a clear focus on delivering value through resource growth.
Looking Ahead
As Infini Resources embarks on its maiden drilling program at Portland Creek, the market will be watching closely for assay results that could validate the exceptional soil geochemistry and structural interpretations. Success here could significantly enhance the company’s uranium resource base and elevate its profile in the energy metals sector amid growing global demand for nuclear fuel.
Bottom Line?
Infini’s upcoming drill results at Portland Creek could be a pivotal catalyst for its uranium ambitions.
Questions in the middle?
- Will the maiden drilling at Talus Prospect confirm the high-grade uranium indicated by soil assays?
- How might the newly identified northern and southern geochemical anomalies impact the overall resource potential?
- What are the company’s plans for advancing lithium projects alongside uranium exploration?