Infini Resources (ASX:I88) is gearing up for fieldwork programs at its wholly owned Portland Creek Uranium Project in Newfoundland, Canada after uncovering multiple ‘large’ targets.
The $18.62 million market capitalisation company says the identification of the targets follows the start of desktop geological and geophysical studies and a review of historical data.
The targets include a ‘large’ radiometric 3km by 0.6km anomaly, now referred to as the ‘Talus prospect’. The prospect is coincident with mineralised rock samples grading up to 865 parts per million (ppm) U3O8.
According to Infini, up to 8 exploration licences have been identified to date at Portland, with known uranium showing at the property grading up to 2,180ppm.
Geophysical studies are ongoing with reprocessing of historical surveys and satellite imagery to guide a litho-structural interpretation over the project.
Chief Executive Officer (CEO) Charles Armstrong says the review of work being conducted is in line with the company’s strategy of identifying multiple ‘high quality’ targets across its portfolio.
“The identification of a very large radiometric anomaly in combination with widespread uranium geochemical anomalies from a review of historical data is highly encouraging, and significantly enhances the prospectivity for discovery of economic deposits of uranium at Portland Creek.
The rigorous review and re-interpretation work being conducted is in line with our strategy to identify multiple high quality exploration targets across our portfolio. The identification of uranium mineralisation in government stream sediments and rock samples is exceptional and will underpin the planning of future exploration activities over the project area.
We now have numerous exploration targets supported by radiometric anomalism and mineralised rock samples that allow us to reclassify one area as a prospect and progress the other 7 targets with follow up field work once weather permits. This data has enabled us to improve our exploration model for the region at a very low cost to the company.”
The Portland Creek project covers an area of 108km-square on the Precambrian Long-Range Complex, as part of the Humber Tectonic, in Canada.
Infini Resources is an energy metals company focused on mineral exploration in Canada and Western Australia for uranium and lithium.
Write to Adam Drought at Mining.com.au
Images: Infini Resources
