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Infini Resources (ASX:I88) has acquired two projects in Canada’s Athabasca Basin – the world’s richest source of uranium – to boost the company’s investment both in terms of this commodity and in the region.
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Infini bought the Reynolds and Boulding Lake uranium projects for $100,000, plus the issue of 2,622,378 shares at 57 cents each. Performance rights were also included.
This means Infini now has a landholding stretching across as much as 931 square kilometres within the territory which has produced some of the world’s top deposits of uranium, including Cigar Lake and McArthur River mines.
In this are the Reynolds Lake project – which is 677 square kilometres, and features anomalous uranium located in lake sediments plus radiometric anomalies close to the Needle Falls shear zone – and the 254 square kilometres Boulding Lake project near territory containing radioactive boulders.
Both are within 100km of the McArthur River and Eagle Point high-grade uranium camps.
Executive director David Pevcic said having these projects in its portfolio is a major score for Infini. “The completion of this acquisition marks a significant milestone for Infini as we expand our footprint to the Athabasca Basin,” he said.
“With a strong focus on advancing our flagship Portland Creek Project, the addition of Reynolds and Boulding Lake complements our strategy to build a diversified and high-impact uranium exploration portfolio.”
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Mr Pevcic also added today: “We look forward to commencing exploration work and unlocking the full potential of these promising assets.”
Infini has been selling at 19 cents heading into Week 14 trade.
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