Infini Resources Limited

Further High Grade Uranium in Soil Results from Portland Creek

Assays extend the Talus soil anomaly by ~340% and define several new anomalies within the structural corridor significantly increasing the scale and prospectivity of the project

Infini Resources Ltd (ASX: I88, “Infini” or the “Company”) is delighted to announce the results of its major follow up soil sampling program at its highly prospective and 100% owned Portland Creek Uranium Project in Newfoundland, Canada. These assay results mark the completion of the Company’s follow up exploration program (Figure 1 and refer to ASX announcement 16 September 2024).


HIGHLIGHTS
  • Extraordinarily high soil uranium assays now define a ~800m x 100 m zone coincident with a north-south shear and three major converging secondary faults. The zone remains open to the east and west with a peak assay result of 7.5% U3O8.
  • New high-grade uranium soil assays include:
    • IRS0755: 4,056 ppm U3O8
    • IRS0571: 3,679 ppm U3O8
    • IRS0572: 3,007 ppm U3O8
    • IRS0567: 2,901 ppm U3O8
    • IRS0783: 2,264 ppm U3O8
    • IRS0774: 2,193 ppm U3O8
    • IRS0788: 1,981 ppm U3O8
    • IRS1174: 1,604 ppm U3O8
    • IRS0772: 1,164 ppm U3O8
    • IRS1100: 1,116 ppm U3O8
  • Additional geochemical anomalism identified in the North and South is highly encouraging as it indicates potential for additional undiscovered uranium deposits to exist within the project
  • These exceptional follow up soil geochemistry results at Portland Creek significantly increase the prospectivity of the project by adding numerous additional drill targets to the exploration portfolio
  • UAV magnetic survey planned to commence late October will help determine what litho-structural controls exist underneath the numerous and large new soil anomalies identified in the North and South

Infini’s Managing Director and CEO, Charles Armstrong said: “These follow up soils are incredibly exciting, with exploration to date indicating that Portland Creek may be host to a large, high-grade uranium system. These results increase the prospectivity of the ground significantly and further increase our confidence that the source of the primary uranium mineralisation is close by. The initial zone has now grown from an original ~235m x 100m to ~800m x 100m (340% increase) which is an outstanding result.

Furthermore, we now have additional grouped uranium soil anomalies located ~500m to the North and

~1.5km to the South. We are prioritizing the Talus high grade zone as our top maiden drill target and now we can use this data to finalise our diamond drill plans.”

Click here for the full ASX Release

This article includes content from Infini Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

I88:AU
The Conversation (0)
US Capitol at sunset with dramatic clouds and illuminated facade.

Trump Admin Pushes for Uranium Stockpile Boost to Secure Nuclear Power Future

The US is stepping up efforts to expand its strategic uranium stockpile as Washington looks to shield nuclear power from supply risks tied to Russia and bolster domestic supply chains.

Secretary of Energy Chris Wright told Bloomberg on Monday (September 15) that the Trump administration is determined to reduce US dependence on Russian-enriched uranium. It still accounts for about a quarter of the fuel used in America’s 94 nuclear reactors, which generate roughly 20 percent of the nation’s electricity.

“We’re moving to a place — and we’re not there yet — to no longer use Russian enriched uranium,” he said. “We hope to see rapid growth in uranium consumption in the US from both large reactors and small modular reactors. The size of that right buffer would grow with time. We need a lot of domestic uranium and enrichment capacity.”

Keep reading...Show less
Uranium.io Shakes Up Uranium Market With Launch of Real-Time Price Oracle

Uranium.io Shakes Up Uranium Market With Launch of Real-Time Price Oracle

Uranium-related financial instruments, such as ETFs, have outperformed bitcoin this year.

The crypto industry is not just about ETFs and price surges; it's also about tackling real-world market inefficiencies. The launch of Uranium.io's near-real-time uranium pricing oracle is a prime example of that.

Uranium.io, a platform tokenizing Uranium, unveiled its pricing oracle on Tuesday, aimed at addressing the price opacity issues in the uranium market.

Keep reading...Show less
North Shore Uranium (TSXV:NSU)

North Shore Expands Land Position at Rio Puerco

North Shore Uranium Ltd. (TSXV:NSU) ("North Shore" or the "Company") is pleased to announce that it has staked 27 additional mining claims (the "New Claims") at its Rio Puerco uranium project in northwestern New Mexico ("Rio Puerco" or the "Project"). The Project now includes 64 adjoining Bureau of Land Management ("BLM") claims.

In 2009, a historical uranium resource estimate of 6.0 million tonnes at an average grade of 0.09% eU3O8 for 11.4 million pounds of U3O8 was reported for Rio Puerco (the "Historical Resource"). Initial review of the historical data suggests the potential for in-situ recovery ("ISR") mining, the lowest cost method for producing uranium. The entire Historical Resource is located on the original 37 Rio Puerco claims (the "Original Claims"). Previously completed exploration work suggests that there is potential to expand the reported uranium mineralization on both the Original Claims and the New Claims.

Keep reading...Show less
Mart Wolbert, nuclear reactors.

Mart Wolbert: Uranium Prices, Supply, Demand — What's Next as Mindset Shifts

Mart Wolbert, analyst at Contrarian Codex, is seeing a uranium mindset shift as more investors take stock of the growing supply/demand imbalance in the market.

He explains how he's approaching uranium stocks and shares his price outlook.

Keep reading...Show less
xU3o8 Co-Founder Arthur Breitman.

From Nuclear to Blockchain: How xU3O8 is Reimagining Uranium Ownership

xU3O8 has reached a key milestone with the listing of its uranium-backed token across major crypto exchanges, opening the door for investors to gain direct exposure to uranium at a time when demand is accelerating, said Arthur Breitman, co-founder of Tezos, which provides the blockchain platform for xU3O8.

“xU3O8 is a tokenized asset. It represents tokenized beneficial ownership in uranium oxide,” Breitman explained. “And the platform uranium.io allows people to come in and then buy this tokenized ownership in uranium, which can be interesting for people interested in owning the commodity.”

Breitman also explained the advantages of buying tokenized uranium versus investing in uranium stocks or uranium funds.

Keep reading...Show less
Thor Energy (ASX:THR)

Term Sheet to Treat Colorado Project Uranium Waste Dumps and Gross Revenue Sharing Agreement with DISA Technologies

Pathway for Thor Energy PLC to potentially generate revenue from US Uranium and Critical Minerals Production

Thor Energy plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) is pleased to announce the signing of a term sheet ("Term Sheet") with DISA Technologies, Inc. ("DISA") to seek to evaluate and if successful, treat historically abandoned uranium mine waste dumps ("Waste") and recover saleable uranium and other critical minerals concentrates at Thor's Colorado uranium claims. Thor holds 25% ownership rights to uranium minerals on U.S. Bureau of Land Management ("BLM") via its US subsidiary Standard Minerals Inc. ("Standard") that holds the projects (the "Colorado Projects") in Colorado in the United States, along with the 75% holder, London-listed Metals One PLC (AIM: Met1).

Keep reading...Show less

Latest Press Releases

Related News

×