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Ann: Stunning High Grade Uranium Soil Results at Portland Creek, page-202

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Makingmon

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08/07/24

15:53

Post #: 74657305
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Originally posted by bigpelican: ↑

Mate, if you are wondering about peers and potential of i88 then have a read of the article/ analysis below put out on X (Twitter) by Phoenix Global Investments. This is the best I could find on peer comparisons:

Extract if you don.t want to read full article:

"I88 has the benefit of a direct peer comparison in 92E who have trail blazed a pathway of exploration success, with their GMZ discovery. Not only does 92E’s GMZ discovery offer a clear parallel for share price accretion at certain milestones, geologically it is also a high-grade unconformity style uranium deposit and we can draw a direct timeline for shareholder value."

and:

"92E discovery drill hole (Drill hole number 4 which intersected 5.5m @ 0.12% U3O8) resulted in a ~7-8 times increase of the market cap valuation over several months. This demonstrates significant upside potential for I88. The caveat however is that I88’s fieldwork results are unprecedented, so in our opinion the share price accretion could significantly outperform its peers, such as 92E."

If this develops as it seems to be then holders are looking at very substantial coin (7-10 bags from here not undoable) in the near term in my opinion...Cheers

Infini Resources (I88) have just announced remarkable soil sample results from their maiden fieldwork campaign, which reaffirms the presence of highly anomalous uranium at their Talus prospect.
17 soil samples returned >11,192 (>1.1792%) U3O8,which exceeds the ALS Canada soils limit of detection (LOD), so the actual grades of these samples may be significantly higher.
These samples have been re-sent for another analysis using the U-XRF10 protocol for ore grades with an LOD up to 15% U3O8.
More importantly, 52% of all soil samples returned >1,000 ppm U3O8 demonstrating the consistency of the anomaly across such a large area, potentially indicating a large uranium body of scale.
To put into context the significance of these results, the average uranium background reading in soils is only between 1 to 8 ppm U3O8.
Moreover, there are operating uranium mines with significantly lower grades then these soil samples, such as Paladin who have the Langer Heinrich mine in Namibia producing at grades of 415ppm.
Additionally, it is incredibly rare to see such a large area of consistent high-grade uranium soil samples at surface, which then also coincide with a 3.2km radiometric corridor.
The soil sampling so far has only covered 400m of the 3.2km radiometric corridor so the high-grade uranium anomalies may continue in the East & West directions.
If the soil samples continue to return “ore-grade” results along the anomaly, it is increasingly likely a high-grade deposit of significant scale is a possibility.
It is important to note that the Talus prospect has never been effectively drill tested and I88 are the first company to systemically explore this ground with modern technology and exploration techniques.

Figure 1 – The Talus Uranium Prospect depicting the location of the incredibly high-grade soil samples. Note: surface geochemistry is highly coincidental with the large existing anomalous radiometric corridor.
Not Even Cameco’s Key Lake Uranium Deposit Had Soil Samples of This Grade
A radiometric anomaly was discovered close to the north shoreline of Seahorse Lake by Uranerz in the early 1970’s.
Soil samples of the anomalous area assayed up to a maximum of ~10,000 ppm (1%) U3O8.
The soil anomaly found and analysed was discovered above the Gaertner ore body (800m long, 10 to 40m wide and 50m thick) making up what is now known as Cameco’s Key Lake Deposits producing a total of 209.8 million pounds of uranium with an average grade of 2.32% from 1983 to 2002.
Another Vector in Pb Isotope and Multi-Element Soil Geochemistry
I88 have also stated that they are using Pb-isotope analysis to vector in on any undiscovered uranium deposits, so far with positive indications. This strategy has been proven a useful pathfinder to finding buried sediment hosted unconformity-related U deposits in the past.
For example, McArthur Lake, which is the world’s highest-grade unconformity-related U deposit (Saskatchewan, Canada) and boasts 255 million pounds at 17.33% U3O8, reported soil assays over their Zone 4 ore body which had the highest proportion of samples with elevated U and low 207Pb/206Pb ratios, the latter indicative of radiogenic Pb from a high-U source, which coupled with other geochemical exploration strategies assisted in the world class discovery.
Biogeochemical Results 125 Times Greater Than Average
The Portland Creek project tenement presents a challenging terrain that it is covered in overburden and vegetation. As such, I88 also undertook biogeochemical testing to increase their exploration data set.
Biogeochemical prospecting entails the collection and analysis of plant materials in order to detect the presence of anomalous concentrations of uranium in the subsurface.
Two anomalies were defined with anomaly one at Talus measuring 630m x 150m long in a north-south orientation with a peak value of 50.12 ppm U3O8.
Anomaly two at T3 is 140m long running in a north-west south-east direction with a peak value of 2.3 ppm U3O8.
Putting these results into context, the average background reading in biogeochemical samples is only ~0.4 ppm U3O8, so the results of anomaly one at Talus are 125 times higher than this.
Rock Sample Results
Due the nature of Portland Creek having extensive surface cover, the team did not expect to encounter mineralised rock samples due to the lack of outcrops available.
Nonetheless, one large ~5m sized sheared and altered pink granite boulder returned a peak assay result of 650 ppm U3O8.
This is important because rocks are less susceptible to outside influences and add confidence that the geochemical anomaly in diverse surficial media, is from a potential underlying uranium body.
Portland Creek Results Comparable To High-Grade Unconformity Style Uranium Deposits Such as GMZ, Cigar Lake & McArthur Lake
In our opinion, Portland’s Creeks geochemical results are suggestive of a high-grade unconformity style uranium deposit such as GMZ, Cigar Lake and McArthur Lake in the Athabasca Basin.
These unconformity style deposits of the Athabasca Basin are some of the largest and highest grades in the world.
Cigar Lake, one of the world’s top
uranium
mines, with
grades
100 times higher than average, is known as a hallmark for
unconformity-related uranium mineralization
and boasts 176.6 million pounds of U3O8 at an average grade of 14.48% U3O8.
These deposits are characterized by mineralization developed along the contact between younger sandstone cover and underlying crystalline basement rocks.
The challenge however is that mineralization can be up to ~400m into the underlying basement rocks.
However, tier one unconformity uranium deposits do have primary and pathfinder surface expressions, which can be identified through geophysics & geochemical analysis such as those being seen at Portland Creek.
A Clear Pathway for I88 Share Price Accretion
I88 has the benefit of a direct peer comparison in 92E who have trail blazed a pathway of exploration success, with their GMZ discovery.
Not only does 92E’s GMZ discovery offer a clear parallel for share price accretion at certain milestones, geologically it is also a high-grade unconformity style uranium deposit and we can draw a direct timeline for shareholder value.

92E discovery drill hole (Drill hole number 4 which intersected 5.5m @ 0.12% U3O8) resulted in a ~7-8 times increase of the market cap valuation over several months.
This demonstrates significant upside potential for I88. The caveat however is that I88’s fieldwork results are unprecedented, so in our opinion the share price accretion could significantly outperform its peers, such as 92E.
This is a brief overview of a detailed research report we put together on the outstanding results recently released by Infini Resources. For the full report, click the link below:
https://phoenixglobalinvestments.com.au/stunning-high-grade-uranium-soil-results-at-portland-creek/

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just let them work it out.

I88 Price at posting: 49.0¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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