Highlights

  • Infini Resources shares advanced $0.010 or 5.555% to $0.190 on 24 April 2026, with 58,737 shares traded and a bid-offer range of $0.185–$0.200, after the company announced that drill permits have been granted by the Saskatchewan Ministry of Energy and Resources for its maiden diamond drilling campaign at the Reynolds Lake and Reitenbach Lake Uranium Projects.
  • The maiden program comprises a minimum of 2,500 metres of diamond drilling across well-defined targets on the eastern outboard margin of the Athabasca Basin, targeting the confluence of electromagnetic conductors, magnetic features, uranium geochemical anomalism, and interpreted structural corridors, with mobilisation of rig and geological services contractor planned for late April 2026.
  • The Reynolds and Reitenbach Lake projects collectively cover 766 km² across 22 mineral claims and include approximately 80 kilometres of EM conductors and a highly prospective approximately 15km × 3km structural corridor adjacent to the Titus Prospect, where surface rock chip samples have returned high-grade uranium mineralisation of up to 1.90% U₃O₈.

 

Infini Resources Limited (ASX:I88) traded at $0.190 on 24 April 2026, a gain of $0.010 or 5.555%, with 58,737 shares traded and a market capitalisation of $17.31 million. The bid-offer spread of $0.185 to $0.200 at reflected normal trading dynamics for a micro-cap uranium explorer. For a company with a market capitalisation of $17.31 million, the 5.56% gain is proportionally significant and reflects the market’s positive reception of a permitting milestone that now positions the company to commence its first-ever drill test of a large and prospective uranium target system. The award of drill permits represents the culmination of a multi-stage consultation and technical evaluation process and marks the transition from surface exploration to subsurface confirmation drilling.

Reynolds and Reitenbach Lake: A 766km² Eastern Athabasca Basin Opportunity

The Reynolds Lake and Reitenbach Lake Uranium Projects are located on the eastern outboard margin of the Athabasca Basin in northern Saskatchewan, collectively covering 766 square kilometres across 22 contiguous mineral claims. The projects are underlain by Archean to Paleoproterozoic metamorphic and igneous rocks and are bisected by the Needle Falls Shear Zone, a major crustal-scale structural corridor separating the Wollaston Domain to the west from the Peter Lake Domain to the east. This structural setting is regionally significant: the Wollaston Domain hosts graphitic schists and gneisses that are key lithologies known to host unconformity-associated uranium mineralisation, and the area is considered geologically analogous to uranium systems at Eagle Point and Rabbit Lake.

The exploration dataset underpinning the maiden drill targets is comprehensive. The 2025 exploration programs refined approximately 80 kilometres of electromagnetic conductor trends, magnetic features, structural complexity, and uranium geochemical anomalism into a system-scale footprint that the company describes as prospective for both unconformity-related and basement-hosted uranium mineralisation. The Titus Prospect, located within a highly prospective 15km by 3km structural corridor, returned high-grade uranium mineralisation at surface of up to 1.90% U3O8 in rock chip samples adjacent to a priority EM target and interpreted structural conductor.

Maiden Drill Program: Minimum 2,500 Metres Targeting Priority EM Anomalies

The maiden diamond drilling program is designed to systematically test high-priority uranium targets across the projects, with a planned minimum of 2,500 metres of drilling. Target locations were selected based on the integration of electromagnetic conductors, magnetic features, uranium geochemical anomalies, and interpreted structural corridors. Each drill hole location represents a coincidence of multiple datasets, a targeting approach used across the Athabasca Basin to vector into zones with the highest probability of hosting uranium mineralisation at the unconformity or in the basement.

Archer Cathro has been engaged as the geological services provider and Rodren Drilling as the drilling contractor. Mobilisation to site was targeted for late April 2026, following a brief delay from the previously guided mid-April date due to adverse weather conditions affecting drill rig availability. The permitting process was completed following consultation with local First Nations, including Ya’thi Néné Lands and Resources, and ongoing engagement with YNLR is planned throughout the drilling program.

Geological Significance: First-Ever Drill Test of an Underexplored System

The maiden program at Reynolds and Reitenbach Lake represents the first drill testing of this area on the eastern margin of the Athabasca Basin — a significant exploration context. The Athabasca Basin is the world’s highest-grade uranium province and synonymous with deposits including Cigar Lake and McArthur River, and the eastern margin has historically received less systematic exploration than the western and southern portions of the basin. Graphitic schists and gneisses have been identified within the project area spatially associated with EM conductors and radiometric anomalies, while petrographic analysis has validated a structurally prepared and hydrothermally altered basement environment consistent with an unconformity-related uranium system.

The scale of the exploration target is meaningful: approximately 80 kilometres of EM conductors define a large system-scale footprint across 766 square kilometres, and the 15km by 3km structural corridor at the Titus Prospect provides a focused area of highest geological confidence for the maiden drill campaign. First-drill results from a virgin section of the eastern Athabasca Basin with this combination of geological indicators have the potential to generate material investor interest if mineralisation is encountered.

Conclusion

Infini Resources’ 5.56% share price gain on 24 April 2026 reflected investor recognition of a key operational milestone: the grant of drill permits enabling the company to commence its first-ever subsurface test of a large and geologically compelling uranium target system on the eastern margin of the Athabasca Basin. With mobilisation planned for late April 2026, a minimum 2,500-metre program designed around the best coincident multi-dataset targets, and high-grade surface mineralisation at the Titus Prospect providing geological encouragement, the maiden drill campaign is the most significant de-risking event in the company’s exploration history to date.