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Infini Resources (ASX:I88) has announced the expansion of its Yeelirrie North uranium project boundary envelope by a factor of 370%.
The company acquired an extra 554sq.km of permits when its geotechs found promising signals in the aftermath of an airborne survey.
These anomalies, geotechs reported on Monday, are “comparable to Yeelirrie and [the] Dawson-Hinkler deposit.”
The Yeelirrie deposit (as opposed to Infini’s Yeelirrie North) is owned by Canadian international uranium heavyweight Cameco. It bought the acreage off BHP back in 2012.
Infini’s acreage is just to the north of that significant asset.
All in all, with the Yeelirrie North project now comprising a total of 761sq.km thanks to new permits, Infini can thus state its project has grown by some 370%.
The company is hoping to be one of the largest landholders in the region alongside Cameco with 12 targets already slated for future testing.
Management pointed to positive moves on uranium commodity markets witnessed YTD.
“The Yeelirrie North Project expansion represents an excellent low-cost opportunity for the Company, timed when the uranium sentiment in Western Australia is experiencing positive change,” Infini chief Charles Armstrong said.
“The pending exploration licenses cover areas of highly anomalous U/Th that also correlate strongly with interpreted calcrete/leached regolith horizons in aerial imagery.
“These licenses now provide the Company with the opportunity to potentially discover new uranium occurrences on the doorstep of the world class Yeelirrie Uranium Deposit.”
I88 shares last traded at 17cps.
