Australian mining company Infini Resources has rapidly deployed its recently secured $12 million in capital, significantly expanding drilling operations at its flagship Portland Creek uranium project in Canada's emerging Newfoundland province.
Drilling Exceeds Expectations
Capitalising on favourable weather conditions, the company has substantially exceeded its initial 2500-metre drilling program, completing an impressive 3910 metres of core drilling across multiple high-priority targets. The expanded campaign is focusing on 12 priority areas within a 6-kilometre structural corridor marked by uranium-in-soil anomalies, radiometric highs and airborne electromagnetic conductors.
The company's shares surged dramatically last month, reaching 71.5 cents from the previous day's close of 23 cents after reporting exceptional drill results. One hole contained a remarkable 284-metre section with peak portable X-Ray Fluorescence (pXRF) values reaching 12,000 ppm uranium at 270 metres depth and 11,700 ppm at 289 metres depth.
Multiple High-Grade Intersections
Follow-up drilling has continued to deliver promising results, with visible yellow uraninite mineralisation discovered in three additional diamond drill holes. One hole returned a peak reading of 5,500 ppm uranium within a shallow fracture zone that consistently yielded 1,000-1,500 ppm uranium.
Another drill hole intersected 2,500 to 4,000 ppm across a 12-metre faulted corridor from 139 metres depth. The third hole logged visible uranium at 28 metres depth, with spot pXRF readings hitting an outstanding 6,500 ppm uranium within a brecciated, hematite-altered interval.
Company executives note the significance of these multiple intersections being separated by more than a kilometre, indicating uranium-bearing fluids have circulated through a broad, multi-kilometre system rather than being confined to a single prospect.
Polymetallic Potential and Global Context
Adding to the project's appeal, Portland Creek is demonstrating signatures of a polymetallic system with zinc, copper, molybdenum and titanium enrichment observed within the hydrothermal alteration zone. Key pXRF readings have shown peak zinc up to 8,000 ppm, copper up to 1,500 ppm and molybdenum up to 1,000 ppm.
The timing appears ideal for Infini's success, with uranium firmly back in the global spotlight. The US government has outlined plans to quadruple nuclear-powered electricity generation by 2050, backed by an US$80 billion partnership with Westinghouse to accelerate nuclear power deployment.
According to the World Nuclear Association's latest fuel report, nuclear reactor uranium requirements are forecast to grow at an annual rate of 5.3% through to 2040.
Infini Resources Chief Executive Officer Rohan Bone stated: "The Phase 2 drilling program at Portland Creek continues to surpass our expectations. We are now seeing visible uranium and elevated U readings across multiple targets over a kilometre apart, demonstrating the potential scale of this emerging district."
Drilling is scheduled to continue into early December, with the first batch of assay results expected before the end of the year. With several high-priority structures still awaiting testing, Infini is positioning itself as a potential new player in the coveted North American uranium supply chain.
