Infini confirms new Canadian uranium project acquisitions
Cigar Lake’s underground mine has total mineral reserves of 551,400 tons of an amazing degree of oxide of uranium oxide of 15.87 % – about 160,000 parts per million (PPM) – for 192.9 million pounds of material that is fed in nuclear reactors to produce energy.
The nearby high -quality McArthur River mine contains a reserve of 2.49 m of tons with a superb 6.55 % uranium oxide for a mammoth of 359.6 m pounds.
David Pevcic, executive director of Infini Resources, David Pevcic said: “The completion of this acquisition marks a significant milestone for Infini while we expand our imprint in the Athabasca basin. With a strong attention to the approach of flagshipschip Portland Urak Uraium Project, the addition of Reynolds and Boulding Lake completes our strategy to build a diversified and high impact exploration portfolio.”
The consideration of $ 1.6 million paid for the Canadian acquisition is made up of 2,622,378 completely paid ordinary shares issued to 57.2 cents per share, based on the average weighted price of 15 days, as well as $ 100,000 in cash plus $ 750,000 in employment rights in the field of Infini for the meeting and billions of resources.
The company involves conduct geophysical surveys in both projects to generate objectives for follow-up exploration activities.
The acquisition of the two properties strengthens the company’s Canadian presence, however its Portland Creek project on the eastern coast of Canada remains its main objective.
Portland Creek transformed the bettors last year with essays who sent the prices of the shares, unleashing Infini in the maximum shock of the earnings of the actions of the shares last year.
Management states that the perforation was completed in 4 holes by a 23 -hole diamond perforation program at the Falls Lake Prospect, within the Portland Creek project.
He believes that the initial results have been encouraging with the current perforation of about 100 million tests in the north along the ice along the essays of high -grade soil.
The Athabasca basin is considered the premium position in the world for Uranium deposits, which covers 100,000 square km and home to a series of potential projects.
Infini will look for new projects to strengthen his socket in Canada and add some pounds to his future resources expectations.
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