The company secured the 386-square-kilometre Reynolds Lake project, perched on the eastern edge of the basin, earlier this year, along with the equally prospective Boulding Lake project. Both projects sit in a geological postcode where significant discoveries turn heads faster than a streaker at the cricket.
Both projects are perched within 100km of several world-class high-grade uranium mines, in the globally recognised 100,000-square-kilometre Athabasca Basin.
Reynolds sits just 50km from Denison Mining’s McLean Lake operations. Management says its shallow targets are in stark contrast to deeper operating mines within the prodigious Athabasca region, such as Cameco’s Cigar Lake and McArthur River mines, which start at depths of about 500 metres.
The 254-square-kilometre Lake Boulding lies immediately west of Denison Mines’ Johnston Lake uranium project and is close to the world-leading Cigar Lake operating mine. Cigar Lake’s underground mine has a total mineral reserve of 551,400 tonnes at a phenomenal grade of 15.87 per cent uranium oxide – about 160,000 parts per million (ppm) – for 192.9 million pounds of product.
The nearby high-grade McArthur River mine contains a reserve of 2.49Mt at a solid 6.55 per cent uranium oxide for a massive 359.6 million pounds.
Infini had a long stint in the sun last year after reporting substantial soil sampling results at its Portland Creek project, which had its geochem team grinning like Cheshire cats.
The off-the-scale soil assays, up to 74,997ppm uranium oxide, turbocharged the company’s share price to make it one of last year’s big winners. Plans for an upcoming phase two drill program at Portland Creek make for good timing, alongside the Reynolds exploration program.
With the uranium price surging more than six per cent this month to US$76.95 (A$116.65) per pound amid an expected uplift in strong demand from various nations seeking clean baseload power, Infini’s continued Canadian push for the source of clean energy being fed into nuclear power plants may prove to be a fruitful decision.
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