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Infini Resources Limited (ASX:I88)

ALERT: Price-sensitive ASX Announcement for I88
Current share price for I88 : $0.110 -0.005 (-4.35%)+
Announcement
Release
31 Aug 2026 8:07AM
Price at Release
$0.115
Full Release
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Summary
Infini Resources announced a major expansion of exploration at its Portland Creek Uranium Project in western Newfoundland, Canada, increasing the next phase to about 5,000 metres of diamond drilling supported by about 1,000 metres of trenching after completing 2026 airborne magnetic, electromagnetic and radiometric surveys, field mapping and prospecting, and a reinterpretation of structural, geochemical and geophysical data. The company’s updated model identifies a structurally controlled, granite-hosted hydrothermal uranium system within the Long Range Complex, with uranium mineralisation confirmed in Phase 2 drilling as fracture-controlled uraninite associated with chlorite-hematite alteration. Three-dimensional magnetic inversion modelling outlined extensive zones of magnetic destruction along key east-west and north-northwest to north-northeast structures, interpreted as the footprint of a large hydrothermal system, and targeting now focuses on areas where structural intersections, magnetic destruction boundaries, radiometric responses and uranium anomalism coincide. Trenching has already commenced, mobilisation of CMG and Rodren Drilling is underway, and drilling is scheduled to begin in Q3 CY2026, with the program intended as the most substantial test to date of what Infini considers a district-scale and materially underexplored uranium system at Portland Creek.
Key Points
  • Infini Resources has expanded the Portland Creek exploration program to approximately 5,000 metres of diamond drilling and approximately 1,000 metres of trenching.
  • The expanded program follows 2026 airborne magnetic, electromagnetic and radiometric surveys plus field mapping and prospecting.
  • Phase 2 drilling confirmed fracture-controlled uranium mineralisation, including uraninite associated with chlorite-hematite alteration.
  • Three-dimensional magnetic inversion modelling identified extensive magnetic destruction along the project’s structural network, interpreted as the footprint of a large hydrothermal system.
  • Drill targeting is focused on the coincidence of structural intersections, magnetic destruction boundaries, uranium anomalism and complex fault corridors.
  • Trenching has commenced as the first systematic excavation program to expose bedrock, support channel sampling and improve drill design.
  • CMG and Rodren Drilling are mobilising ahead of the expanded drilling campaign.
  • Drilling is scheduled to commence in Q3 CY2026.
  • Portland Creek covers 329 square kilometres in western Newfoundland within the Long Range Complex.
  • Historical and recent work has outlined a 6 kilometre uranium and radon anomaly, while soil sampling at Falls Lake returned values up to 74,997 ppm U3O8.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.