Infini Resources (ASX:I88) said that the results from its maiden diamond drilling program at the Falls Lake prospect at its Portland Creek uranium project in Newfoundland, Canada confirmed the potential for uranium mineralized system, according to a Wednesday Australian bourse filing.
Geochemical analysis using portable x-ray flourescence returned encouraging point uranium assays in all four drill holes to date, including a result of 9,391 parts-per-million grade of uranium trioxide equivalent at 94.3 meters.
The samples will be submitted for laboratory assay. Further immediate drilling will step out around 100 meters and 200 meters north from the current drill holes.
The firm's shares fell almost 19% in recent trading on Wednesday.
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