Australian Securities Exchange (ASX)-listed Infini Resources has announced the acquisition of the Bellah Bore East Uranium Project in Western Australia.
Financial details of the deal were not divulged.
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With this purchase, Infini Resources consolidated its Yeelirrie North Uranium Project (E 53/2188).
The Bellah Bore East deposit is around 500m x 150m in size and located within prospecting licence P 53/1703, comprising 92.67 hectares.
The licence is located in the western edge of the company’s existing E 53/2188 tenement 60km south-west of Wiluna.
Infini noted that the deposit is hosted by calcrete and comprises an inferred mineral resource of 350,000 tonnes (t) at 210 parts per million (ppm) triuranium octoxide (U3O8) for a contained 160,000 pounds of U3O8, in accordance with the JORC Code (2004).
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By GlobalDataThe company added that the mineralisation is reported as open in the north-east, with a higher-grade core centred around air core hole EYN064 with 3m at 781ppm U3O8 including 1m at 2,111ppm U3O8 1–3.
Carnotite is identified as the primary ore mineral in historical drilling.
The annual expenditure commitments for the project are nominal at $3,720 (A$5,596) per annum.
Under the agreement, Infini will pay A$47,500 in cash to privately held Mineral Operations Exchange and issue a 1% net smelter return royalty.
Subject to the completion of due diligence and necessary approvals, the deal is expected to close this month.
Upon completion of the transaction, Infini aims to convert the historical resource to JORC 2012-compliant status.
Infini CEO Charles Armstrong said: “With this strategic acquisition, the company has now successfully consolidated its tenure at the Yeelirrie North Uranium Project, following on from the recent major expansion of the project in April 2024.
“This acquisition showcases Infini’s determined pursuit of value, as it progresses its Uranium portfolio in both Canada and Australia.”
Last month, Infini concluded the first pass exploration programme at its Portland Creek Uranium Project in Newfoundland, Canada.
The crew gathered a wide range of data to advance targeting efforts, including soil, biogeochemical and rock samples.
Additionally, numerous spectrometer readings were taken. The completion of this work follows the recent exploration update provided by Infini.
