Resources Top 5: Infini Resources revs up quest for Canadian uranium

Infini Resources is preparing for an aggressive second phase drilling program at the Portland Creek uranium project in Newfoundland.

Infini Resources is revving up for stage 2 drilling at the Portland Creek uranium project in Canada. Pic: Getty Images

• An aggressive second phase exploration program is planned at the Portland Creek uranium project in Canada

• YAR has had a positive quarter as it positions itself as a key player in the high-quality coal market

• C1X is part of a collaborative development pathway for Bolivia’s lithium brine resources

Your standout small cap resources stocks for Thursday, July 31, 2025

Infini Resources (ASX:I88)

Armed with a much stronger understanding of the local geology, geophysics and geochemistry, Infini Resources is revving up the engine for an aggressive second phase exploration program at the Portland Creek uranium project in Newfoundland, Canada.

Specialised Canadian drilling contractor, Rodren Drilling, which has more than 47 years of experience supporting mining projects across Canada including in uranium exploration, has been appointed to lead drilling for the planned phase 2 program.

Coast Mountain Geological (CMG) has been appointed to provide in-field geological services throughout the planned phase 2 program. CMG has been actively involved with developing and advancing grassroots projects for 32 years.

Infini shares closed 36% higher at 17c.

Following a recent review and refinement of the Portland Creek exploration model, which confirmed a series of untested, high-priority uranium targets, Infini has been compelled to remobilise to site to advance the next phase of exploration. 

Phase 2 drilling will systematically test 12 highly prospective exploration targets defined by a combination of favourable structural controls, including east-west fault zones, and strong surface anomalism such as elevated uranium values, radiometric responses, radon gas, LREE pathfinders and uranium-in-lake sediment anomalies. 

These surface indicators are further supported by hydrothermal alteration observed in drill core from phase 1, highlighting the potential for structurally hosted primary uranium mineralisation.

Additional structural mapping and rock-chip sampling is planned ahead of phase 2 drill program to refine drill hole placement and ensure agile, data-driven decision making in the field.

Mobilisation of contractors to Portland Creek for the program of at least 2500m is expected mid-late August 2025, with drilling set to begin shortly after. 

"We are very pleased to welcome Rodren Drilling and CMG to the Portland Creek program. Their combined technical capabilities and operational experience will be critical to the successful and efficient execution of Phase 2 drilling,” Infini’s CEO Rohan Bone said. 

“With the key contractors now in place and mobilisation scheduled for mid-August, Infini is well positioned to begin testing the highly prospective targets generated by our refined exploration model and to advance our goal of unlocking a new uranium discovery at Portland Creek." 

Yari Minerals (ASX:YAR)

A positive quarter from Yari Minerals as it positions itself as a key player in the high-quality coal market was reflected by a 40% lift in the share price to 1.4c before closing at 1.2c.

During the June quarter the company completed the acquisition of Rolleston South coal project in Queensland’s Tier-1 Bowen Basin and increased the JORC (2012) inferred resource by 91% to 151Mt.

Yari also confirmed the potential for both high-grade thermal coal and semi-soft metallurgical coal, and finalised drill targets ahead of a maiden drilling campaign planned for the second half of 2025.

Rolleston South is Yari Minerals’ flagship asset and the company said it represented a transformational acquisition. 

The project covers 272km2 across two granted Exploration Permits for Coal (EPC 2138 and EPC 2327) in the Bowen Basin, which is Australia’s premier coal-producing region, hosting extensive infrastructure and supporting long-term global export operations.

Situated just 20km south of the Glencore-operated Rolleston Mine and within trucking distance of the Blackwater Rail System for export via the Port of Gladstone, Rolleston South is well placed for development. 

Sealed highways and proximity to operational mines provide excellent logistical advantages for future production scenarios.

Following completion of the Rolleston South acquisition in May 2025, Yari Minerals completed a comprehensive geological review, incorporating additional open-source data and new interpretation methods. 

This resulted in a 91.3% increase in the inferred resource, taking the total from 78.9 million tonnes (Mt) to 151Mt.

The upgrade validates the project’s potential as a high-quality, large-scale coal asset and provides a strong foundation for future development and resource classification work.

Yari’s technical team began development planning during the quarter, with a focus on:

• Finalising drill targets to improve resource confidence and support reclassification to the indicated status;
• Designing a testwork program to validate washability and assess the potential to separate thermal and metallurgical products; and
• Reviewing the project’s mining potential.

Cosmos Exploration (ASX:C1X)

Cosmos Exploration continues to assess the delivery of a technically robust and collaborative development pathway for Bolivia’s lithium brine resources.

This work is part of an exclusive option to acquire 100% of EAU Lithium, which is leading technology trials in partnership with Bolivia’s state-owned Yacimientos de Litio Bolivianos (YLB).

Workstreams under EAU’s agreement with YLB progressed in the June quarter, with Cosmos remaining fully aligned and supportive of the development pathway.

This week Cosmos released an update confirming that initial test work on synthetic formulations replicating Bolivian brine chemistry had been completed by EAU at Vulcan Energy’s laboratory in Germany. 

Testing on natural brine samples from Salar de Coipasa and Salar de Pastos Grandes is underway, with final results to be released following completion and formal review in line with EAU’s agreement with YLB.

“We are looking forward to completing the final stage of testwork and advancing towards a potential industrialisation agreement, particularly against the backdrop of improving sentiment in the lithium market,” C1X executive chairman Jeremy Robinson said.

Perpetual Resources (ASX:PEC)

Plans are being finalised for the next phase of drilling by Perpetual Resources targeting depth extensions at the Raptor rare earths project in the world-class Caldeira Alkaline Complex in Minas Gerais, Brazil.

This program at the Portão Verde, Pina Colada and Pinheirinho prospects will be designed to fully assess broader project-scale potential to support a maiden JORC resource estimate.

The aircore holes will be drilled to depths of 30-40m to follow previous shallow auger holes demonstrating that mineralisation is open at depth.

PEC will also advance detailed metallurgical testwork and mineralogical characterisation to support future development studies and underpin Raptor’s positioning as a potential long-term supplier of critical rare earths.

Raptor is close to Meteoric Resources’ (ASX: MEI) Caldeira project, which has a resource of 1.5Bt at 2359ppm TREO, and Viridis Mining and Minerals’ (ASX: VMM) Colossus project.

Shares hit 2.7c, a new high of almost two years and a 17.4% increase on the previous close.

Albion Resources (ASX:ALB)

Investors reacted positively to Albion Resources divesting its non-core Mongers Lake gold project in WA to Capricorn Metals (ASX:CMM) with shares lifting 10.25% to 9.7c.

The upfront consideration for the Murchison region asset is $1.5m, comprising a $100,000 non-refundable cash deposit with a further A$1.4m on completion, payable in cash or Capricorn shares.

There are also contingent milestone payments of up to A$1.5m including:

• A$750,000 upon Capricorn announcing a JORC-compliant mineral resource estimate of at least 75,000oz gold; and
• A$750,000 upon Capricorn announcing a decision to begin a standalone mining operation.

The sale enables Albion to fully focus on its Yandal West Gold Project where it recently announced near-surface high-grade gold hits including 11m at 20g/t gold from 17m.

Mongers Lake is around 30km northwest of Capricorn’s Mt Gibson gold project.

“This transaction is consistent with our strategy to focus on unlocking value at Yandal West, where we are actively drilling and building momentum on multiple high-grade gold targets,” Albion CEO Peter Goh said.

This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. While Cosmos Exploration, Albion Resources and Perpetual Resources are Stockhead advertisers, they did not sponsor this article.

Originally published as Resources Top 5: Infini Resources revs up quest for Canadian uranium