Infini Resources Unveils Phase 2 Drilling and New CEO to Drive Uranium Growth

• Phase 2 diamond drilling planned at Portland Creek Uranium Project
• First modern airborne electromagnetic surveys completed over Reynolds and Boulding Lake projects
• Identification of large-scale bedrock conductors supporting uranium mineralisation potential
• Appointment of Rohan Bone as new Chief Executive Officer
• Quarter-end cash balance of $619k with ongoing capital raising discussions

Exploration Momentum Builds at Portland Creek

Infini Resources Limited (ASX, I88) is advancing its uranium exploration agenda with the announcement of a Phase 2 diamond drilling program at its Portland Creek Uranium Project in Newfoundland. This follows encouraging results from the maiden Phase 1 drilling campaign, which confirmed the presence of anomalous uranium mineralisation and pathfinder elements within a structurally complex corridor known as the Trident Lake Zone.

The Phase 1 program, comprising six holes, targeted a high-grade uranium-in-soil anomaly with peak assays reaching nearly 75,000 ppm U3O8. Geological experts engaged by Infini have interpreted these findings as indicative of a shear-hosted uranium system, with the potential for alternative deposit styles yet to be fully tested. Importantly, structural data suggests that the primary uranium-bearing structures remain unpenetrated, providing a compelling rationale for the upcoming drilling phase scheduled for August 2025.

Breakthrough Airborne Surveys in Saskatchewan

In parallel, Infini completed its first modern airborne electromagnetic (EM) and magnetic surveys over its Reynolds Lake and Boulding Lake Uranium Projects in Saskatchewan. These surveys, covering a combined 2,400 line kilometres, have identified multiple large-scale bedrock conductors, including two conductors exceeding 10 kilometres in length. The conductors coincide with magnetic lows and uranium anomalies, suggesting the presence of graphite-rich metapelitic rocks within the Needle Falls Shear Zone, an environment conducive to unconformity-style uranium mineralisation.

The relatively shallow depth of these EM anomalies, estimated at around 20 metres, enhances the prospectivity of near-surface uranium deposits. Infini is progressing detailed desktop studies to integrate geophysical and geochemical data, aiming to prioritise targets for future field campaigns.

Leadership and Financial Position

To steer the company through this critical growth phase, Infini appointed Mr Rohan Bone as Chief Executive Officer. Mr Bone brings over 18 years of international mining experience, including senior roles at Alcoa, Thyssenkrupp Mining Technologies, and Tata Steel Minerals Canada. His expertise spans operational leadership, project development, and corporate strategy, positioning him well to lead Infini’s expanding uranium and lithium portfolio across Canada and Western Australia.

Financially, Infini closed the quarter with a cash balance of $619,000, having spent approximately $1.21 million on exploration activities. The company also received a C$150,000 government grant from Newfoundland and Labrador’s Junior Explorer Program, supporting its Portland Creek work. Despite a tight cash position with less than half a quarter of funding available, Infini is actively engaging brokers to facilitate a capital raising to sustain its exploration momentum.

Broader Project Portfolio and Outlook

Beyond uranium, Infini maintains a diversified portfolio including lithium projects in Ontario, Quebec, and Western Australia. While no new work was reported this quarter on these lithium assets, the company continues to advance access and heritage agreements for its Western Australian tenements, notably near the world-class Yeelirrie uranium camp.

Infini’s strategic focus on high-potential uranium provinces, combined with its methodical exploration approach and strengthened leadership, positions it as a company to watch in the evolving energy metals sector. The upcoming Phase 2 drilling results and progress on capital raising will be key catalysts in the near term.

Bottom Line?

Infini Resources is poised for a pivotal exploration phase, but its near-term success hinges on drilling outcomes and securing additional funding.

Questions in the middle?

• Will Phase 2 drilling at Portland Creek intersect the primary uranium-bearing structures?
• How will the company manage its cash runway amid ongoing exploration expenditures?
• What impact will the new CEO have on accelerating project development and capital raising?