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Infini Resources (ASX:I88) has significantly expanded its Portland Creek Uranium Project in Newfoundland, adding 410 new mineral claims in the Canadian region to bring its landholding to as much as 10,250 hectares.
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This content has been prepared as part of a partnership with Infini Resources Ltd and is intended for informational purposes only.
The newly staked areas sit in one of Canada’s most prospective emerging uranium districts and are contiguous with Infini’s already existing tenements.
“This is a strategic expansion for Infini at a pivotal time,” Infini’s chief executive officer, Rohan Bone, explained. “Following the breakthrough of visible uraninite and high-grade molybdenum at Portland Creek, it was essential that we consolidate our position across this highly prospective district.”
Buying up new tenements “provides the foundation for long-term exploration and development,” Mr Bone added, and keeps Infini growing in “one of the most supportive jurisdictions for uranium exploration globally.”
During the ongoing Phase Two drilling, Infini reported widespread elevated uranium readings using portable XRF (pXRF) technology, with visible uranium observed at depths of 270 and 289 metres in one drill hole.
Those zones had spot readings of 1.2% and 1.17% uranium in altered granite. High-grade molybdenum mineralisation up to 2.38% was intersected, too.
With all this in the company’s pocket, the Australian explorer will now look to integrate geological, airborne geophysical, and remote sensing datasets across the expanded Canadian tenements this year.
That work will be very closely tied to Phase Two plans, HotCopper understands, which has already surpassed its 2,500-metre targets at Falls Lake.
The Portland Creek project now spans as much as 251 square kilometres.
I88 has been up +3.45% today, at around 6cps.
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