Infini’s Uranium Ambitions Face Key Test as Assay Results and Approvals Loom

Phase 2 Drilling Validates Structural Uranium Potential at Portland Creek

Infini Resources Limited (ASX, I88) has marked a pivotal quarter with the completion of its Phase 2 diamond drilling program at the flagship Portland Creek Uranium Project in Newfoundland, Canada. The 5,310-metre campaign across 17 drillholes targeted eight priority zones along a 6-kilometre structural corridor, revealing visible uranium mineralisation and elevated portable XRF readings. These findings reinforce the interpretation of a structurally controlled, polymetallic uranium system hosted within altered granites, with notable uranium concentrations along fractures and breccias.

Drillhole PCDD25-012 stood out by intersecting visible uraninite with spot pXRF readings up to approximately 1.2% uranium, one of the strongest responses recorded. The presence of associated polymetallic pathfinder elements such as molybdenum, zinc, and copper suggests a broader hydrothermal system at play. While these preliminary results are encouraging, formal laboratory assays are awaited imminently in the first quarter of 2026 to confirm the extent and grade of mineralisation.

Strategic Land Acquisition Doubles Project Footprint

During the quarter, Infini aggressively expanded its Portland Creek landholding by over 120%, adding nearly 18,000 hectares through two separate transactions. The first involved staking 410 new mineral claims covering 10,250 hectares, aimed at capturing extensions of key mineralised structures and radiometric anomalies. This was followed by a binding purchase agreement for an additional 7,700 hectares of contiguous mineral licences, pending regulatory approval from Newfoundland’s Ministry of Energy and Mines.

This expanded footprint now exceeds 32,000 hectares, consolidating Infini’s control over prospective structural corridors and enhancing exploration optionality. The integration of geological, geophysical, and geochemical datasets across this enlarged area is underway to refine future drill targeting and field programs.

High-Grade Surface Uranium Confirmed at Reitenbach Lake

Elsewhere in Canada, Infini completed field programs at its Reynolds Lake and Reitenbach Lake Uranium Projects in Saskatchewan’s Athabasca Basin. The Phase 1 assays confirmed high-grade uranium mineralisation at surface, with a standout rock-chip sample from the Titus Prospect at Reitenbach Lake returning 1.90% U3O8 from outcropping uraninite. Follow-up Phase 2 fieldwork extended the footprint of uranium prospectivity, supported by scintillometer readings and geological mapping.

These results validate Infini’s exploration model for unconformity-related uranium systems in the region and set the stage for a maiden drill program planned for the second quarter of 2026.

Corporate Strengthening and Capital Raising

Infini bolstered its leadership team with the appointment of Ms Pamela Naidoo-Ameglio as a Non-Executive Director. Ms Naidoo-Ameglio brings over 25 years of experience in mining, nuclear operations, and advanced technology, adding significant governance and strategic expertise to the board.

Financially, the company raised approximately AUD 13 million during the quarter through a combination of Canadian flow-through shares (AUD 11 million), a placement to sophisticated investors (AUD 1 million), and loyalty options (AUD 0.5 million). These funds underpin an accelerated exploration program, including expanded drilling at Portland Creek and upcoming drilling at Reynolds and Reitenbach Lake. Infini ended the quarter with a robust cash position of AUD 11.9 million, supporting its 2026 exploration ambitions.

Broader Portfolio and Strategic Focus

While the company’s primary focus remains on uranium exploration in Canada, it maintains a diversified portfolio including lithium projects in Ontario and Quebec, and uranium assets in Western Australia. Notably, Infini relinquished its Pegasus Lithium Project in Western Australia during the quarter to concentrate resources on its Canadian uranium assets.

Exploration activities at other projects such as Boulding Lake, Des Herbiers, Tinco, and Valor Lithium were limited or in preparatory phases, reflecting a strategic prioritisation of capital and operational efforts.