Infini Resources (ASX:I88) has significantly expanded its flagship Portland Creek Uranium Project in Newfoundland, Canada, following the acquisition of two adjacent mineral licences covering a combined 77km2.
The purchase increases Infini’s total landholding in the region to over 32,000 ha, representing a 30% expansion of the project footprint.
The newly acquired tenements are geologically aligned with existing licences, encompassing granite-dominant lithologies, key structural corridors, and high-priority radiometric trends highlighted during the recent Phase 2 drilling program, which has already identified visible uranium across multiple drillholes with spot pXRF readings up to 1.2% U.
Infini’s CEO, Rohan Bone, said the acquisition consolidates the company's strategic position over a potential district-scale uranium system and enables the integration of the new ground into an expanded 2026 exploration and drilling program.
A first batch of drillhole assays is expected within four weeks, while an airborne geophysics survey currently underway is anticipated to refine targets for the next phase of exploration.
The acquisition was executed through Infini’s wholly owned Canadian subsidiary, involving a combination of cash, shares, and a 2% net smelter royalty to the vendors, with completion expected within the next 30 business days, pending regulatory approvals.