Highlights

  • Drillhole PCDD25-009A encountered molybdenum mineralisation grading 2.38% Mo in albitised granite.
  • Portable XRF readings recorded uranium values ranging from 1,000 ppm to 12,000 ppm U.
  • Drillhole PCDD25-012 intersected multiple uranium-rich zones between 28.0m and 312.0m depth.

Infini Resources Limited (ASX:I88), an Australian-listed explorer focused on uranium and lithium projects, has reported significant uranium mineralisation from its ongoing Phase 2 diamond drilling program at the 100%-owned Portland Creek Uranium Project in Newfoundland, Canada.

Drillhole PCDD25-012 intersected widespread elevated uranium (U) readings across multiple zones between 28.0m and 312.0m downhole based on portable XRF (pXRF) analysis, primarily along fractures and cavity zones within intensely altered granites. Notably, uraninite was intersected at 270.0m and 289.0m downhole, recording 1.2% and 1.17% U, respectively.

The hole is located approximately 1.5km from a peak soil anomaly of 74,997 ppm U₃O₈, suggesting the presence of a potentially extensive uranium-bearing hydrothermal system.

Geological Context and Observations

The PCDD25-012 core revealed two main granite types: a felsic granite and a metamorphosed epidote-rich granite, both heavily fractured and altered. Approximately 50 pXRF readings taken along vertical to steeply dipping fractures between 28.0m and 312.0m depth recorded uranium values ranging from 1,000 ppm to 12,000 ppm U.

The mineralisation was observed within zones of albite, hematite, chlorite, and sericite alteration, indicating hydrothermal activity. Fractures commonly hosted quartz, calcite, and barite crystal overgrowths, with uraninite blebs visibly present towards the base of the hole.

Additional Drillhole Findings

At Target 1, drillhole PCDD25-009A intersected high-grade molybdenum, with a pXRF spot sample detecting 2.38% Mo within a 4m albitised granite interval. PCDD25-010 recorded uranium values up to 1,200 ppm U at 39.5m and 650 ppm U at 160m, while PCDD25-011A returned up to 600 ppm U near surface.

Six holes have been completed or are in progress (PCDD25-007, 008, 009A, 010, 011A, and 012), totalling 1,421 metres drilled. These results support the presence of a polymetallic hydrothermal system hosting uranium, molybdenum, zinc, and associated elements.

Management Commentary

Infini Resources Chief Executive Officer, Rohan Bone, said:

"These first drillholes are a game-changer for Portland Creek. We have intersected extensive zones of elevated uranium, confirming widespread hydrothermal alteration and validating our exploration model. With Phase 2 drilling still in the early stages, the scale of the opportunity at Portland Creek is becoming increasingly clear. With every hole, we are uncovering more indications of a potential district-level polymetallic uranium system in Newfoundland, at a time when uranium and critical minerals are central to the global energy transition.”

Next Steps

Drilling will continue at Target 2, with plans to expand the minimum 2,500m Phase 2 drill program to test additional high-priority uranium targets. All core samples are being dispatched to ALS Global Laboratories for geochemical analysis, with assay results expected in Q4 2025.

Share Performance of I88

I88’s stock is currently trading at AUD 0.660 per share, up by 186.956% from its previous close of AUD 0.230.