Infini Resources Ramps Up Exploration at Reynolds Lake Uranium Project
Infini Resources (ASX: I88) is set to accelerate its on-the-ground exploration of the Reynolds Lake uranium project in Canada after a desktop study unveiled a number of high priority targets.
The company will begin follow-up field work next month on the back of a comprehensive assessment that included historical lake sediment geochemistry, regional airborne radiometric data, and output from a recent time domain electromagnetic (TDEM) survey.
The airborne TDEM survey covering 1,100 line-kilometres was the first ever at Reynolds Lake.
Anomalous Uranium Values
Historical data from the lake sediment geochemistry had identified a range of anomalous uranium values across a number of areas with favourable structural corridors.
Infini’s initial interpretation of the survey results in late July identified multiple large-scale electrical conductors – the longest of which exceeded 10km in length – coincident with radiometric anomalies and magnetic lows on the outboard edge of the prolific Athabasca Basin.
This sort of geological profile is suggestive of shallow unconformity-style uranium mineralisation.
Multi-layered Exploration
Chief executive officer Rohan Bone said the combined dataset studies had provided Infini with a multi-layered exploration model for Reynolds Lake.
“The Reynolds Lake study has delivered exactly what we hoped–clear, coincident anomalies across multiple datasets that provide us with strong vectors to uranium mineralisation,” he said.
“With structural interpretation further highlighting key shear zones and fault corridors, we now have a robust framework to guide targeted field work.”
Sampling and Mapping Program
The program commencing in September will consist of soil and rock sampling, along with geological mapping to further define potential drill targets, and will also include the use of portable X-ray fluorescence analysis.
Infini expects to complete the field work and submit samples for laboratory analysis in Q3 2025, and anticipates receiving the assay results sometime during the following quarter.
The company is confident the program will advance the highest-priority targets to drill-ready status for a Phase 1 drill program at Reynolds Lake in early 2026.
Reynolds Lake, which comprises 12 claims covering 386 sq km in northern Saskatchewan, sits between the Keeping Lake project to the north and the Jewison Lake project to the south.
Future Exploration Work
Infini executed a subscription and renunciation agreement with Peartree Securities earlier this month to raise approximately $3 million.
Utilising the “Flow-Through Shares” provisions under Canadian tax law and subject to shareholder approval, the placement went through at A$0.2052 (C$0.1774) per share, a 52.8% premium to Infini’s most recent 5-day volume-weighted average price at the time.
The company will use the funds in upcoming Phase 2 diamond drilling specifically targeting high-priority targets defined in a refined exploration model, and for additional field work across the broader Portland Creek project area in Newfoundland.