Infini cleared for first Athabasca uranium drilling blitz in Canada
Brought to you by Bulls and Bears
Doug Bright
Infini Resources has taken an important step in its uranium exploration move in Canada; That’s as Saskatchewan regulators allow the company’s first drilling at the Reynolds Lake and Reitenbach Lake projects on the eastern outer edge of the country’s famed Athabasca Basin.
Infini’s adjacent projects span a massive 766 square kilometers of land on the eastern fringes of the Athabasca Basin.
The approvals pave the way for Infini to move a drill rig to the site in late April and launch a minimum 2500-metre diamond drilling campaign to test a range of high-priority targets at two adjacent projects.
Infini’s drill plan seems to stack the odds in its favor. The company combined airborne electromagnetic data, magnetics, uranium geochemistry and structural interpretations to identify drilling sites where multiple potential uranium indicators overlapped.
‘Integration of geophysical, geochemistry and structural datasets identified compelling, high-priority targets.’
Infini Resources CEO Rohan Bone
So far, these indicators have detected numerous conductive hotspots, magnetic lows, fault intersections, and strong uranium geochemical anomalies.
The company’s program represents the first drilling in the underexplored eastern margins of the Athabasca Basin, which is considered highly promising for both unconformity-related and basement-hosted uranium systems.
Infini Resources CEO Rohan Bone said: “The granting of drilling permits at Reynolds and Reitenbach is a significant milestone for Infini and allows us to move forward with our first drilling program in the eastern margins of the Athabasca Basin.”
The Athabasca Basin is home to some of the largest and highest quality uranium mines in the world. These include Cameco’s McArthur River and Cigar Lake uranium mines, which contain total mineral reserves of 165.6 million pounds at 15.9 percent uranium oxide and 391.9 million pounds at 6.9 percent uranium, respectively.
Surprisingly, Infini’s projects have remained underexplored since the 1970s and are just 50 km from Cameco Corporation’s massive Rabbit Lake operations, which include the Rabbit Lake, Collins Point and Eagle Point uranium deposits.
Rabbit Lake is one of North America’s longest operating mines and has produced over 203 million pounds of yellowcake since its opening in 1975. Eagle Point was known for its high-quality underground uranium deposits, which continued to produce until the mill was placed on maintenance and repair in 2016.
Infini is targeting what it describes as a large system-scale footprint, including 80 kilometers of electromagnetic conductors and a very likely 15km x 3km northeast-southwest structural conductor corridor alongside the new Titus project at the southern end of the tenement block.
The corridor came to market attention in late March when Infini completed first-pass drilling targets and surface rock particle analysis at Titus indicated it contained up to 1.90 percent uranium oxide. Titus stands opposite this corridor and the primary electromagnetic target.
The company’s previous study in January revealed the growing scale of the conductor network in Reitenbach. It strengthened the discovery model by correlating lake sediment uranium anomalies with regionally widespread electromagnetic conductors and key structural features.
Infini will work with geological services contractor Archer Cathro and Rodren Drilling, while maintaining its relationship with local First Nations group Ya’thi Néné Lands and Resources throughout the program.
With the first drillings underway to probe the geological mysteries of the little-explored outer edges of the famous Athabasca Basin, Infini is finally about to find out what is pushing these massive conductors deep.
As always, the early drilling stages are often the real time when models are proven or disproven.
However, with multiple incidental data sets lined up over a large target footprint and other large 100km uranium shows, Infini appears well positioned to deliver new chapters in the Canadian story as it begins to core holes.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
