Infini Resources (ASX:I88) has acquired the Bellah Bore Uranium Project from privately held Mineral Operations Exchange, which lies adjacent to the Yeelirrie North Uranium Project in Western Australia.
The Bellah Bore East deposit is 500m by 150m in size and comprises 92.67 hectares. The deposit hosts a historical inferred resource of 350,000 tonnes @ 210 parts per million (ppm) triuranium octoxide.
Under the acquisition, Infini, which has a market capitalisation of $10.99 million, will pay $47,500 in cash to the vendor and issue a 1% net smelter return royalty. Subject to the completion of due diligence and the receipt of necessary approvals, the acquisition is expected to be complete this month.
CEO Charles Armstrong says the acquisition allows Infini to consolidate its tenure at Yeelirrie following from the recent expansion of the project in April 2024.
“This acquisition showcases Infini’s determined pursuit of value, as it progresses its uranium portfolio in Canada and Australia,” he says.
Upon completion of the transaction, Infini aims to convert the historical resource to JORC 2012-compliant status.
Infini notes mineralisation at Bellah Bore East is reported as open in the northeast with a higher-grade core centred around drillhole EYN064 with 3m @ 781ppm triuranium octoxide, including 1m @ 2,111ppm triuranium octoxide.
Write to Aaliyah Rogan at Mining.com.au
Images: Infini Resources
