Infini Resources: An amazing array of uranium geological in-dicators and no drill holes – until now!
Infini Resources Managing Director Charles Armstrong on 2GB & 6PR Bulls N' Bears Report
Listen to ASX-listed Infini Resources Managing Director Charles Armstrong talk to Matt Birney on the Bulls N’ Bears Report about Infini’s upcoming maiden drill program into what Infini says are the highest-grade uranium soil samples in the history of exploration.
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Infini Resources set the market alight when it shot up 418 per cent to $1.03 from its January 20c listing price. It listed on the ASX with a swag of lithium and uranium projects in WA and Canada however it was the Portland Creek uranium project in Newfoundland Canada that really shot the lights out with some off-the-scale soil samples at a project that has never been drilled. All that is about to change however after Infini recently locked down a permit to drill.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears brought to you today by uranium and lithium explorer, Infini Resources
Matt Birney - ASX code: I88
Matt Birney - I'm Matt Birney and I'm joined now by the managing director of Infini Resources, Charles Armstrong.
Matt Birney - Hi Charles
Charles Armstrong - Hi Matt
Matt Birney - Okay so Infini Resources set the market alight when it shot up 418 per cent earlier this year to $1.03 from its January $0.20 listing price. The company listed on the ASX with a swag of lithium and uranium projects in WA and Canada, however it was the Portland Creek uranium project in New Foundland, Canada, that really shot the lights out with some off-the-scale soil samples at a project that has never been drilled. All that is about to change however after Infini recently locked down a permit to drill. Okay Charles, I want to do a roll call of the reasons Infini believes Portland Creek might be harbouring a uranium deposited depth starting with those crazy high-grade soil samples. Hit me with the best half a dozen or so.
Charles Armstrong - Yeah so the highest peak result was 74,997 PPM U308, second highest was 53,182, third highest was 43,512 and the next one 39,975 the fifth highest was 39,621 PPM U308 and last but not least the sixth highest 33,961 PPM U308. So seven out of our seventeen soil samples re assays returned greater than 3 per cent U308 and we're now aware that these are the highest grade uranium and soil results ever recorded in the history of mineral exploration, so very exciting for us.
Matt Birney - Big statement. Over what distance did you pick up high grade uranium soil samples and how many defined drill targets do you now have?
Charles Armstrong - Originally we were at scale of 235 metres by 100 metres. We've now got the anomaly at 800 by 100 metres, it's grown significantly since we began the soil sampling and we now have approved 23 planned diamond drill holes.
Matt Birney - What about rock chips? Do you have any at this project? And if so, what sort of grades?
Charles Armstrong - Yes so our highest rock chip grab sample is currently 2,180 PPM U308, so high grade, which we're really excited about.
Matt Birney - What's the structural geology like is there anything there in terms of faults or shear zones that might support your theory of uranium at depth?
Charles Armstrong - Yes so we've got a major fault zone with associated second order structures. What I really love about this Matt is the three very large second structures are converging on each other, and they meet, and where our very high grade soil sample is sitting is actually within this zone of the faults meeting together and converging. So very promising setting, can't wait to drill them.
Matt Birney - Very quickly when will we get the first drill hole into this thing?
Charles Armstrong - First one will be coloring in at the end of January and then our second rig will be on site early February. So yeah we're throwing a good amount of meters.
Matt Birney - Charles Armstrong from Infini Resources.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember, we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
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