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Soil sampling from Infini Resources Ltd’s (ASX:I88) Portland Creek play in Newfoundland have extended a central soil anomaly – Talus – by around 340%, as well as defining multiple new anomalies within the project’s structural corridor.
This – Infini says – increases Portland Creek in terms of both scale and prospectivity, in particular through definition of a zone measuring around 800 by 100 metres in length, coincident with a north-south shear, and with three major converging secondary faults.
Assays taken during soil sampling included 4,056 ppm (parts per million) U3O8 (triuranium octoxide), 3,679 ppm U3O8, 3,007 ppm U3O8, and 2,901 ppm U3O8.
Infini managing director and CEO Charles Armstrong said the assays suggested a large uranium system.
“These follow up soils are incredibly exciting, with exploration to date indicating that Portland Creek may be host to a large, high-grade uranium system,” he said.
“These results increase the prospectivity of the ground significantly and further increase our
confidence that the source of the primary uranium mineralisation is close by. The initial zone has now grown from an original ~235m x 100m to ~800m x 100m (340% increase) which is an outstanding result.
“Furthermore, we now have additional grouped uranium soil anomalies located ~500m to the North and ~1.5km to the South.”
He added that plans for diamond drilling would be guided by this, with Talus the main target.
Infini shares fell on the news, and at 12:18 AEDT, they were trading at 49.5 cents – a fall of 660% since the market opened.
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