74997 ppm u308, page-2

Small Cap StandoutsInfini Resources (ASX:I88) +358% Lithium/uranium explorer I88 rocked the charts last month when initial results from soil sampling at the Portland Creek uranium project pulled in 11,792ppm and then a second, even-better eye-watering peak grade of 74,997ppm.The results were so rich in uranium they fell outside the detection limits of conventional technology with I88’s results sitting a casual ~9375 times higher than the normal ~8ppm U3O8 level.A favourite stock pick of Lowell Resources Fund chief investment officer John Forwood, I88 only listed on the ASX seven months ago with a diverse portfolio of eight greenfields and brownfields projects in Tier 1 mining jurisdictions across Canada and WA.It closed a $5.3m raise with funds to be used over its assets at a time when uranium headwinds worked in its favour.From the lows of US$18/lb in 2018, uranium spot prices more than doubled from January 2023 to 2024, hitting a 16-year high of US$107/lb.Although they’ve since pulled back, Tribeca’s Guy Keller believes prices have found a new base level above US$80/lb and wouldn’t be surprised to see them hit the US$100 - $120/lb range in Q3 and Q4 as utilities come back on in the Northern Hemisphere.The results of a recent UAV survey at the Taulus prospect within the wider Portland Creek ground holding identified a prolific fault system and numerous magnetic anomalies within the highly prospective 3.2km long radiometric corridor.I88 is now looking to get boots back on ground this month to complete its second, much larger geochemical sampling program, which will help to refine existing anomalies and potentially identify new ones to be fed into planning for a large diamond drill program.


From the DTELE