GTI Resources Ltd (GTI or Company) is pleased to advise that drilling is now completed for the 100-drill hole maiden exploration campaign at the Thor ISR uranium project in Wyoming's Great Divide Basin (GDB).



Highlights:

• 100-hole, -15,000m maiden drill program was completed on schedule and within budget

• Uranium price is surging with spot price recently moving past an 11 year high of $60 US$/1131

• GTR is actively advancing its exploration and business strategy within Wyoming's Great Divide Basin to capitalise on the burgeoning opportunities for native US uranium supply.


The final holes have been completed and rehabilitated with the rigs now demobilised on schedule. The Company expects to be in a position to report results from the campaign during the first half of April.

Executive Director Bruce Lane said "The drilling campaign was concluded on time and within budget and has demonstrated a continuation of uranium mineralisation first discovered in the eastern part of the project area during late 2021. We look forward to providing a detailed analysis of results, during April, which we anticipate will help illustrate the project's potential. The recent unrest in Kazakhstan and the current conflict between Russia and Ukraine serve to highlight the significant opportunity for US domestic uranium producers to once again support the US nuclear power reactor fleet which requires around 50Mlbs of 0308 annually2, none of which currently comes from the US. We believe that the case for a reversion back to secure US domestic supply of both yellow cake and enriched uranium to fuel US reactors has never been stronger. GTI's objective is to define economically attractive uranium resources in Wyoming's Great Divide Basin so that our shareholders benefit from the US uranium industry's renaissance. There has rarely, if ever, been a better time to define 1SR uranium resources in Wyoming." Figure 1. Drilling samples at the Thor ISR exploration project, Wyoming, USA


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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.

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