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Samples among the highest-ever-graded uranium soil samples recorded in mineral exploration history.
Mammoth acreage, and a North American continent increasingly looking at nuclear power.
One year returns already up 122% – and drilling of those promising uranium targets to commence early next year.
By all accounts, Infini Resources’ (ASX:I88) Portland Creek project is shaping up to be a possible gamechanger for the company.
And if those record-high soil samples indicate anything, the company’s project could really shake up the uranium investor community in an entirely new way.
With drilling on the horizon for early next year, this could be a transformational moment for Infini. And a transformational opportunity for shareholders and investors alike.
All in all: This could be the last chance to get on board before a veritable lift-off (if you’ll let me use the phrase).
What’s this about uranium soil samples?
Infini has been on many junior miner watchers’ radars ever since the company unveiled something relatively unheard of in the uranium space earlier this year.
Typically, trace amounts of uranium found in soils are measured in parts per million (ppm). Because of their ‘trace’ nature, percentages aren’t always the most intuitive benchmark.
But Infini’s recent discovery has changed that – and using percentages makes more sense, such is the intense concentration of uranium discovered in soil samples at Portland Creek.
On July 10, Infini unveiled its spectacular results to the world – and its share price immediately rocketed.
Something basically unheard of in uranium soil sampling, material collected by Infini’s field team was so packed with the nuclear energy fuel that machines built to analyse the samples reached the limit of detection.
The top eight soil samples included:
- 74,997ppm uranium (7.5%)
- 53,182ppm uranium (5.3%)
- 43,512ppm uranium (4.3%)
- 39,975ppm uranium (4.0%)
- 39,621ppm uranium (3.9%)
- 33,961ppm uranium (3.4%)
- 30,777ppm uranium (3.0%)
- 27,947ppm uranium (2.8%)
While those percentages might not look like much to the uninitiated (200ppm is currently being stockpiled by some uranium miners), they’re big news.
What’s the company working on now?
Infini is currently maintaining its rapid pace towards an early 2025 drill run.
Worth noting, the company only listed in January this year.
In the space of twelve months, Infini has shored up some of the world’s highest uranium soil samples, prepared a drilling program – and now it’s just waiting for the permit to come from regulators.
“We have submitted the drill permit for our highly prospective uranium corridor overlying the Talus prospect [which] we expect to receive an approval for over the coming weeks,” Infini CEO Charles Armstrong recently told HotCopper.
UAV magnetics shore up driller confidence
In the background, the company is wrapping up a UAV magnetic survey to better shore up understanding of geology beneath yet another newly identified zone of interest.
Those targets were first sniffed out in Phase 2 soil sampling, and now with enough confidence it’s onto another potentially gamechanging target, the company is investing in a thorough geomagnetic investigation in the quest to deliver further value.
“Basically we’ve uncovered a whole set of new geochemical anomalies in the South and North [of the project boundaries] that we weren’t expecting, so this survey will allow us to understand what could be potentially controlling these new areas of potential new uranium mineralization,” Armstrong explained to HotCopper.
Given the promising data thus far, Infini actually expanded the overall size of the survey, seeing that the company could be onto a good thing.
“With this expanded UAV magnetic survey we’re hoping to get a better understanding of the underlying geology and structures.
“That allows a good sense of what could be underground prior to actually drilling the ground, so it’s very much a predictive tool. It’s very useful to allows us to identify structures, and of course we believe there are strong structural controls on our high grade uranium prospects here at Portland Creek.”
What’s happening in the uranium space?
Uranium has, of course, been hot all year for one reason: Demand for nuclear energy all around the world is net increasing.
The advent of economically feasible Small Modular Reactor (SMR) tech across North America – some of those projects backed by none other than Bill Gates – has been enough to light considerable fire under enthusiasm.
Uranium prices fell on the NYMEX earlier this year, considerably below the US$100/lb+ prices we saw in late 2023 and early 2024.
But that was all supply and demand psychology – it’s not reflective of where the investment community sees nuclear demand going.
While the United States’ preferences on nuclear power over the coming half remain to be seen and interpreted, Canada remains a robust mining powerhouse.
The Toronto Stock Exchange has a similar resources skew to the ASX if you needed proof of Canada’s role in global hard-rock mining – and global demand for uranium is, no matter what those opposed would like to believe, on the climb.
Disclaimer: Infini contributed content for this article.
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