GTI Resources Ltd (GTI or Company) is pleased to advise that drilling has progressed well for the balance of the 100‐drill hole exploration campaign at the Thor ISR uranium project in Wyoming’s Great Divide Basin (GDB). Two mud rotary drill rigs have made good progress, since restarting the campaign in early February, towards completion of the remaining ~60 holes of a planned 50,000‐foot (~15,000m) ~100‐hole maiden drill program at Thor. The drill rigs recommenced in February 2022 within the western extent of the project and worked back towards the eastern part of the project where drilling originally started during late 2021 (Figure2).


Highlights:

  • Drilling has progressed well at the Thor Project in Wyoming’s Great Divide Basin with the final 9 holes of the 100‐hole program expected to be completed on schedule by March 15th
  • Observations continue to confirm discovery of a significant uranium mineralised system

The Company expects that the final 9 holes will be completed on schedule by the middle of next week with a full set of final results and interpretation, for the full 100 hole maiden drilling campaign, available during the first half of April.

Executive Director Bruce Lane said:

We are very pleased with drilling progress at Thor. Conditions are challenging in the Red Desert at this time of year, and the field crew have done an excellent job to stay on schedule. This year’s drilling confirms continuation of the uranium mineralised system first discovered in the eastern part of the project area during late 2021. Once this initial phase of drilling is completed next week, we look forward to a detailed analysis of the full set of results which we anticipate will help demonstrate the project’s economic potential. We believe there is a bright future of ISR uranium mining in Wyoming due to a supportive state government coupled with surging global demand for emissions free electricity and a corresponding rapid global growth in nuclear power production occurring at a time when the global uranium market is experiencing a large and entrenched supply deficit that looks set to worsen”.

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This article includes content from GTI Resources, 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.

GTR:AU

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