Infini fires up drilling to chase promising Canadian uranium discovery
Infini Resources managing director and chief executive officer Charles Armstrong said: “The period ahead could mark a pivotal moment for the company if this eagerly awaited maiden drill program uncovers a major uranium discovery in the tier-one jurisdiction of Newfoundland, Canada. The excitement is real and the potential is enormous.”
The planned drilling campaign will explore the regional-scale Talus uranium anomaly defined by a combination of soil and rock chip sampling and radiometric surveying within a 3.8-kilometre-long north-south anomalous trend.
The company has identified the high-grade uranium mineralisation in an 800m by 100m corridor within the greater anomalous zone.
After receiving environmental assessment and clearance, Infini staff have begun clearing light vehicle access from the west into the northwestern corner of the Talus site, to reduce the reliance on helicopters for transport.
The additional access will enable the crews to maintain accessibility for bigger loads and during poor weather conditions.
Management says core logging and cutting facilities have been built on site and are ready for the first batch of drilling core from the field.
The slated drilling program is expected to take six to eight weeks to complete.
The market was blown away by the head-turning sampling results revealed by Infini in July, where retesting was needed due to the grades exceeding the laboratory’s usual testing protocol.
In addition to a peak return of 74,997 parts per million (ppm) uranium oxide, further superb sample results included 53,182ppm, 43,512ppm and 39,975ppm uranium oxide.
The company’s share price rocketed from 15.5 cents at the time of the announcement to eventually touch a high of $1.035 a few weeks later – a massive 567 per cent gain.
As it sets its drill bit spinning, Infini will be hoping the results of this maiden campaign will again create punters’ strong interest in their progress.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
