Infini will now launch a field campaign to confirm its uranium anomalism. Portable X-ray fluorescence (pXRF) will guide real-time fieldwork. The company will submit samples for laboratory analysis to confirm uranium targets to drill-ready status for a potential phase one drilling program early next year.
Infini Resources chief executive officer Rohan Bone said: “The Reynolds Lake study has delivered exactly what we hoped – clear, coincident anomalies across multiple datasets that provide us with strong vectors to uranium mineralisation. With structural interpretation further highlighting key shear zones and fault corridors, we now have a robust framework to guide targeted fieldwork. By commencing fieldwork in September, we are well-placed to advance these targets rapidly towards drilling and deliver the next stage of growth for Infini.”
Uranium prices have nearly tripled in the past four years as the world scrambles to secure clean baseload power and nuclear energy is now squarely back in favour.
Infini’s newest ground in the Athabasca squares away two prospective uranium plays, both perched within 100km of several world-class high-grade uranium mines.
Its fully owned Reynolds and Boulding Lake projects comprise a total 931 square kilometres in the highly sought-after 100,000-square-kilometre Athabasca Basin.
The crown jewel of the Athabasca, the Cigar Lake project, is 50km from Reynolds Lake and has a 551,400-tonne reserve grading a DNA-altering 15.87 per cent uranium oxide – equivalent to 160,000 parts per million (ppm) – for 193 million pounds of uranium.
The Reynolds Lake field programs are set to line up nicely with Infini’s upcoming phase two drilling campaign at its flagship Portland Creek project in Newfoundland, where the company believes it now understands the structural hosts of its lab-busting uranium mineralisation at surface.
With global uranium demand on the rise, Infini’s systematic push at Reynolds Lake is a perfect complement to its broader Canadian portfolio. As the company gears up for its September field campaign, the uranium spotlight will remain firmly on any discovery the company can turn up. When the drill bit hits in the land of the uranium giants, it hits big.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
