Source : THE AGE NEWS
By Doug Bright
Uranium hunter Infini Resources’ extended aerial magnetic survey has improved the definition of structural settings and rock types largely buried by scree and glacial debris at its Portland Creek uranium project, unveiling some tantalising geological secrets that bode well for project’s future.
The new survey resolution provides insights that strongly suggest Infini’s Talus prospect and its 800m-long soil and rock-chip uranium anomalism could be sitting on the edge of a high-grade uranium source. The project shows soil results up to 7.5 per cent uranium oxide.
Infini Resources’ expanded high-resolution aerial magnetic survey results could prove transformational for the company as it plumbs the secrets of the high-grade uranium source at Portland Creek.
Infini’s Portland Creek project covers 149 square kilometres in Newfoundland in eastern Canada and includes the intriguing Talus prospect, which has been throwing up remarkable uranium assays in multiple sampling programs.
Some past samples were never followed up, including an old Newfoundland Geological Survey rock-chip sample from the 1970s assaying 2108 parts per million (ppm) uranium oxide.
‘We are looking forward to drilling Talus in late January to test our long list of highly encouraging geological indicators.’
Infini’s managing director and chief executive officer Charles Armstrong
Two recent soil sampling programs resulted in a swag of almost glow-in-the-dark uranium hits exceeding the standard laboratory detection limits at just under 12,000ppm or 1.2 per cent uranium oxide.
Seventeen of those high-grade flyers were sent off for re-assay at higher detection limits.
An impressive swath of the repeat assays rang the bell at the bar, with outstanding grades ranging from the peak 74,997ppm (7.5 per cent) uranium oxide hit, with another six samples running 52,182ppm, 43,512ppm, 39,975ppm, 39,621ppm , 33,961ppm and 30,777ppm of the metal oxide.
The remaining re-assays also showed their originals weren’t ghost numbers, with 11 samples coming back with results between 27,947pmm and 10,825ppm uranium oxide.
Infini’s managing director and chief executive officer Charles Armstrong said: “We now have the regional background geophysics that reaffirms the prospectivity of the high-priority Talus target. The survey also provides a road map for potentially conducting additional geochemical sampling in the future concentrating on the geochemical and structural relationships that have been identified. We are looking forward to drilling Talus in late January to test our long list of highly encouraging geological indicators.”
Infini faced an early sampling area problem as there was almost no useful outcrop. Additionally, the company had to contend with the oft-repeated old sentiment that values in old glaciated terrains may have been carried in from somewhere else.
This concern was alleviated after a site examination by a geomorphological and glaciological expert. The company can take further peace of mind given transported geochemical signals are usually random and chaotic, while the Talus uranium anomalies remain very cohesive around a particular location and structural corridor.
The Talus prospect location was made clearer through the extended drone-borne magnetics survey, which highlighted major structures, faults and geological contacts. Resolving the possible sources of uranium mineralisation will, in turn, become a lot easier.
The latest survey results also showed a major granite-sediment contact lies 450m west of the high-grade geochemical anomalism at the Talus prospect and is accompanied by other encouraging geological indicators. These indicators include favourable structures and surface anomalism, such as uranium and lead isotope ratios, radon gas, radiometrics and hydrothermal pathfinders.
Additionally, areas of de-magnetisation indicate hydrothermal alteration which may be associated with a granite contact, while numerous soil anomalies in the north and south are also confirmed as coincident with interpreted demagnetised granites and shear zone corridors.
The proximity of the high-grade Talus uranium soil anomaly to the sediment-granite contact is significant as it may represent an area where sediment is in contact with demagnetised granite at relatively shallow depths.
Combined with three converging faults and north-south shearing, Infini believes it now has proof of an extensive line of contact representing an excellent setting for mobilised and/or deposited or high-grade uranium mineralisation.
The oxidised uranium-rich fluid from deeper zones could have migrated from depth closer to the mantle and become trapped along a reduced and sheared permeable geological contact, the company says.
The 489km long high-resolution drone-borne magnetic survey employed a 25m flight-line spacing on east-west lines and was designed to image the bedrock structure surrounding the originally smaller aeromagnetic survey area at the Talus prospect.
Notably, the now-expanded regional-scale survey has proven invaluable to building geological understanding of the project by highlighting the strong relationships between the anomalous soil uranium and interpreted sheared and demagnetised granites.
Infini says its Talus drill target remains unique within the regional data set and confirms that Talus sits in a specific structural setting, encouragingly supported by many favourable geological indicators.
Infini received the green light for its drilling program from the Newfoundland mines department one week ago and the company has scheduled its drilling and field teams to mobilise to the site in late January.
This rapid permitting is indicative of the company operating in what is shaping up to be a special project in a pro-uranium, tier-one mining jurisdiction, which could also harbour multiple new high-grade uranium discoveries.
Infini’s share price has jumped by 14c after news of its imminent drilling campaign, although it has settled back a bit since, and management will certainly not be the only ones waiting on results in the up-coming northern hemisphere drilling season.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
