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GTI Energy Ltd (GTI or Company, ASX:GTR & OTC:GTRIF) advises that the Company has completed the Acquisition of Logray Minerals Pty Ltd (Logray), holder of the Green Mountain Project in Wyoming (Project).
- Strategic acquisition of ~13,800 acres of contiguous ISR uranium exploration claims at Wyoming’s Green Mountain increases GTI’s land holding, by 40%, to ~35,000 acres
- Properties lie close to existing GTI claims & adjacent to Energy Fuel’s 30Mlb Sheep Mountain, Ur-Energy’s Lost Soldier, Rio Tinto’s Jackpot & UEC’s Antelope deposits1
- GTI has material holdings in the district with plans to continuing exploring multiple uranium mineralised roll fronts
- 100,000 ft exploration drill program planned for July on GTI’s Great Divide Basin properties
Green Mountain Acquisition CompletedGTI has now settled the Acquisition agreement, announced on April 6th, 2022, to acquire Logray, the holder of 13,800 acres of claims at Green Mountain in Wyoming abutting Rio Tinto’s claims & adjacent to GTI’s existing Great Divide Basin (GDB) projects.
Figure 1. Location of The Green Mountain Project
The Green Mountain Project Acquisition brings GTI’s total GDB land holding to ~35,000 acres, an increase of 40%, with the new Project containing a number of uranium mineralised roll fronts hosted in the Battle Springs formation & located close to several major deposits. Historical Kerr McGee drill data, which has been a reliable guide to exploration at GTI’s Thor Project, and oil-well exploration drill logs confirm the presence of uranium mineralised roll fronts and the prospective Battle Springs formation which hosts neighbouring major uranium deposits.
The Project is located in the neighbourhood of Energy Fuel’s (EFR) 30Mlb Sheep Mountain deposit, Ur- Energy’s (URE) Lost Soldier ISR deposit1, UEC’s (UEC) Antelope deposit & Rio Tinto’s (RIO) Big Eagle (past producing), Jackpot, Desert View, Phase II, & Willow Creek deposits. The Claims lie south of Green Mountain, ~5kms from GTI’s existing Odin claim group & within 15km of GTI’s Thor project where a successful maiden drill program was completed during May 2022. Fieldwork to support exploration targeting and permitting is expected to commence at Green Mountain during this month.
100,000 ft July Exploration Program – Great Divide Basin (GDB)
GTI is targeting development of economically viable ISR amenable uranium resources at its GDB projects. The most advanced of these projects is the Thor Project located adjacent to Ur-Energy’s 18Mlb Lost Creek deposit2 & operating ISR uranium plant2. Exploration to date successfully identified mineralisation with economic potential based on widths, grades & depth of mineralisation (ASX release 29 March 2022)3. Drilling approvals are underway for approximately 40,000 feet of follow-up drilling at the Company’s Thor ISR uranium project area and circa 60,000 feet of maiden drilling at the Wicket, Teebo, Odin and Loki projects areas. The program is expected to commence starting at the Thor ISR project during July4.
Figure 2. GDB Wyoming ISR Uranium Projects - Planned Exploration Drilling Areas
This article includes content from GTI Energy Ltd , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.