Six holes have been completed so far, totalling 1,421 metres and all drillholes have intersected elevated uranium. One hole showed an eye-catching highly anomalous molybdenum reading up to 2.38 per cent over a 4m albitised granite interval.
The structurally controlled mineralisation interestingly also contains anomalous gold detected by pXRF, which will be confirmed by tradition fire assay analysis.
The company’s Portland Creek project spans a 149-square-kilometre area within the Precambrian Long-Range Complex of Canada’s Humber Tectonic-Stratigraphic Zone in the pro-mining province of Newfoundland, Canada.
The area is a historical mining region with the Daniel’s Harbour Mine, located only ~15km to the north, having been in operation from 1975-1990. A large regional uranium anomaly was identified in the 1970s through a Newfoundland government lake sediment sampling program.
Infini says the core logging observations imply the presence of a large hydrothermal system capable of hosting multiple metals. The early findings validate the company’s refined exploration model and confirm highly fractured and intensely altered granites are present across drill cores. The company believes the geological setting is likely a shear-zone hosted deposit within altered granite.
Importantly, drilling so far has only partially tested 2 out of 12 priority targets within a >6km corridor of uranium anomalies, leaving a big bucket of ground still be tested.
Infini’s Chief Executive Officer, Rohan Bone, said: “These first drillholes are a game-changer for Portland Creek. We have intersected extensive zones of elevated uranium, confirming widespread hydrothermal alteration and validating our exploration model. With Phase 2 drilling still in the early stages, the scale of the opportunity at Portland Creek is becoming increasingly clear. With every hole, we are uncovering more indications of a potential district-level polymetallic uranium system in Newfoundland, at a time when uranium and critical minerals are central to the global energy transition.”
The company plans to continue pushing holes into the ground and will rapidly expand its exploration strategy at Portland Creek now to test for further extensive zones of alteration and uranium mineralisation.
Systematic sampling and geochemical assays will be prioritised and integrated to identify potential high-grade zones. Infini is anticipative of a district-scale polymetallic system of uranium, molybdenum, zinc and associated pathfinder elements. The all-important assay results are due in Q4 CY2025.
Significantly, uranium is registered on the Newfoundland Government’s Critical Minerals List.
With uranium prices rocketing over the last few years and the US and other Government’s looking to lock down western supplies, Infini’s timing appears to be bang on – and if that 284m section is fully mineralised, it would appear the company has plenty of the controversial yellow metal on its hands.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
