Diamond Drilling Commences at Portland Creek Uranium Project

Infini Resources Ltd (ASX: I88, “Infini” or the “Company”) is thrilled to announce the commencement of diamond drilling at its 100% owned Portland Creek Uranium Project in Newfoundland, Canada (ref announcement 16 December 2024).

Highlights

• Phase 1 diamond drilling will comprise up to 23 holes, targeting a high-grade uranium discovery in the tier-1 jurisdiction of Newfoundland, Canada
• The first priority one hole, PCDD001 is planned to be drilled to a depth of approximately 600m, testing the peak 74,997ppm U₃O₈ soil anomaly coincident with a 46.54 Pb 206-204 ratio and major demagnetized north-south fault zone at depth
• Site core logging and cutting facilities have been built and await the first batch of core from the field
• The staged program is anticipated to take 6-8 weeks to complete with the Company to update on progress

Infini’s Managing Director and CEO, Charles Armstrong said: "We’ve entered an incredibly thrilling chapter for the Company as we start drilling at our highly promising greenfield uranium prospect in Portland Creek, NL.

Myself and the Infini team are incredibly excited for the commencement of drilling, starting with our priority one diamond holes (1A). The anticipation is palpable as we target a high-grade soil anomaly right on top of a significant shear zone and three converging second-order faults.

The Talus prospect is just the beginning—one of many exciting targets within this expansive uranium corridor we’ve worked tirelessly to advance over the past year. The period ahead could mark a pivotal moment for the Company if this eagerly awaited maiden drill program uncovers a major uranium discovery in the tier-1 jurisdiction of Newfoundland, Canada. The excitement is real, and the potential is enormous."

Figure 1: Location of planned diamond drill holes at the Talus Uranium Prospect. The final drill hole locations are dependent on ground conditions and may be adjusted slightly to accommodate these conditions.

Figure 2: UAV magnetics structural interpretation of the Portland Creek uranium project showing the revised sediment-granite contact and soil anomalism coincident with demagnetization and shear corridors.

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