Infini Resources (ASX: I88) has extended the footprint of its highly-touted Talus uranium prospect by some 340 per cent at its Portland Creek project in the Canadian province of Newfoundland and Labrador.
The company says its latest wave of uranium soils from more than 1000 follow-up samples has increased the substantial size of the Talus zone to about 800m by 100m. The prospect, which returned lab-busting uranium soils including peak results up to 7.5 per cent uranium oxide in July, is emerging as one of Canada’s most intriguing, underexplored uranium targets.
The most recent round of soil sampling assays uncovered high-grade uranium results, including standout assays of 4056 parts per million uranium oxide, as well as two further grabs of 3679ppm and 3007ppm. Management says the results strengthen Portland Creek’s claim to be hosting a large-scale uranium system and it believes the source of the primary mineralisation is close by.
The 800m-long zone is coincident with a north-to-south shear zone that crosscuts a demagnetised granite, along with three key converging fault structures at the site. Infini says the altered granite is considered a highly-favourable setting for potential high-grade uranium mineralisation given it is likely thrust over the top of the neighbouring sedimentary group at depth, which may contain reduced graphitic horizons.
Reduced lithologies can be important hosts to high-grade uranium mineralisation where oxidised uranium fluids have travelled through deep-seated faults that tap into the mantle.
Several additional uranium anomalies were also identified by the company via its 1000-plus samples. It believes uranium soil anomalies 500m to the north and 1500m to the south of the Talus prospect could suggest the potential for multiple deposits within the broader structural corridor of Portland Creek.
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. 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.
Infini Resources Managing Director and CEO Charles Armstrong
The company is now set to launch a follow-up unmanned aerial vehicle (UAV) magnetic survey late this month. The survey has been designed to focus on mapping the litho-structural controls underlying the newly-identified anomalies.
Management is also in the final stages of planning its maiden diamond drill program, with the high-grade Talus zone to be prioritised as the primary target for most of the drill fencing.
Infini’s original soil program sent its valuation soaring just three months ago when it revealed that 18 samples had returned uranium grades exceeding 10,000ppm. Shares in the company ran from just 15.5c to a high of more than a $1.03, prompting it to conduct a recent capital raising, where the company’s board tipped in $1 million of its own money.
The Portland Creek project covers 149 square kilometres and sits in the Precambrian Long-Range Complex of the Humber tectonic stratigraphic zone. The first big uranium anomaly was identified at the site in way back in the 1970s by a Newfoundland Government stream-sediment sampling program.
The main Talus prospect lies adjacent to the remarkable soil samples, with the word talus implying a form of often coarse erosional cover obscuring in-situ rocks. It explains the nature of the undercover uranium target the company is pursuing and why the high-grade uranium was only found adjacent to the cover.
Anticipation continues to build for Infini as it vectors in on its final locations for a maiden drill program at Portland Creek. The company will now look to submit its finalised drill permits with Newfoundland and Labrador’s Department for Mining and Mineral Development and remains well-funded following the capital raising to carry out all of its planned high-priority exploration.
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