Australian mineral explorer Infini Resources has significantly expanded its strategic land position in Canada, securing two new blocks at its flagship Portland Creek uranium project in Newfoundland.
Strategic Expansion Follows Drilling Success
The savvy land grab increases the company's tenure in the province by 30 per cent, adding 77 square kilometres of extensional ground. This area lies directly south of recent drilling that intersected visible uranium mineralisation. The acquisition brings the total project area to 328 square kilometres, representing a massive 120 per cent increase since phase two drilling commenced earlier this year.
Infini reports that the newly secured ground hosts notable radiometric anomalies. These appear to mirror the uranium indicators already mapped across its main holdings, creating fresh targets for exploration in the new year.
Building Momentum at Portland Creek
Exploration at Portland Creek is gaining substantial momentum. Recent phase two diamond drilling cut across visible uranium and polymetallic signatures along a six-kilometre corridor. Early-stage handheld X-ray readings confirmed elevated uranium in several drill holes.
Furthermore, astonishing soil sampling results from the Falls Lake prospect recorded peaks of up to 74,997 parts per million (ppm) uranium oxide. Management states the new acquisition ties directly into these findings, extending the identified structural corridor and adding new zones with consistent radiometric highs along strike.
"Portland Creek is rapidly shaping up as a potential district-scale uranium system, and securing this ground is a strategic step in leveraging Infini’s first-mover advantage," said Infini Resources chief executive officer Rohan Bone.
"The newly secured licences sit directly along the structural corridor we have been actively drilling and carry radiometric and geological signatures that are remarkably consistent with our existing ground."
Deal Terms and Future Outlook
Under the agreement, Infini's Canadian subsidiary will acquire full ownership of the new grounds for A$50,000 in cash, A$350,000 in company shares, and a 2 per cent net smelter royalty on any future production.
The Portland Creek project is situated within Newfoundland's Precambrian Long-Range complex, a mining-friendly region near the historic Daniel’s Harbour zinc mine. Infini's work has confirmed a six-kilometre zone of anomalous uranium linked to a major fault scarp, a geological setting considered ideal for uranium enrichment.
With assays from the latest drilling due in the coming weeks and airborne geophysical work concluding, Infini plans to merge all data to pinpoint new targets. This will pave the way for a stepped-up drilling campaign in 2026.
The expansion comes as uranium prices remain firm, recently trading around US$80 per pound (approximately A$120). The market is characterised by constrained supply and capped output from key producers, coinciding with new nuclear reactors coming online worldwide.
In this landscape of tightening supply and rising long-term demand, Infini's timely expansion in a secure North American jurisdiction sharpens its competitive edge. For uranium explorers, locking down contiguous ground early is often critical, and Infini's aggressive consolidation at Portland Creek could deliver significant dividends as it pursues what may become Canada's next major uranium district.
