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Infini Resources (ASX:I88) has ended Week 27 with top Portland Creek assay returns, including a widespread presence of “uranium pathfinders” – and it’s given the explorer the confidence to roll on into Phase Two drilling right away.
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Key among the Phase One assay results at Infini’s 100%-owned Portland Creek Uranium Project in Newfoundland was the confirmation that uranium mineralisation above background levels is visible.
Infini worked in six diamond drill holes (of a permitted 23 holes) in northwestern Newfoundland, for a total of 3,150 metres drilled across an estimated strike length of 625 metres; as many as 1,386 core samples were collected and run through multi-element analysis, which the company has shared.
The explorer was able to zone in on key structures, giving company chiefs the confidence to declare “a significant uranium system” does exist at Portland Creek.
“The observed widespread presence of uranium pathfinders, shear zone-hosted hydrothermal alteration, and structural indicators in drill core now allows us to refine our understanding,” Infini’s CEO, Rohan Bone, said.
With potential confirmed, Infini is now moving on to its Phase Two drill program, which Mr Bone “greatly anticipates” will be firing sometime this quarter.
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In Phase Two, the explorer expects to lift drilling productivity again (weather permitting, it admitted) as in-country exploration manager Nick Mitchell and Mr Bone, who was appointed in May, keep boots on the ground.
Focus through the next phase will be on the untested uranium targets Infini has been prepping to explore at Portland Creek; the explorer believes many are “highly prospective.”
I88 opened up 9.89% on the news, to 10cps at around 11am Sydney time.
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