GTI Resources Limited (GTI or the Company) is pleased to report on its activities for the March 2022 quarter.

Highlights:

  • Thor ISR Uranium Project in Wyoming maiden ~15,000m drill program completed on schedule and within budget
  • Mineralisation encountered meets and or exceeds expectations for economic ISR uranium recovery
  • Acquisition of Significant New Wyoming ISR Uranium Project & $5m Placement
  • Execution of a binding Tenement Sale & Purchase Agreement for the sale of the Niagara Gold Project to Regener8 Resources NL via an IPO
  • GTI shares start trading on North America’s OTCQB market under the code GTRIF
  • Uranium price has surged with spot price recently moving past an 11 year high of $60 US$/lb1

THOR PROJECT DRILLING PROGRAMME

The 2022 work program commenced during February. Two mud rotary drill rigs were re-mobilised to complete the balance of the 100-drill hole exploration campaign at the Thor ISR uranium project in Wyoming’s Great Divide Basin (GDB). The program’s aim was to complete the remaining ~60 holes of a planned 50,000-foot (~15,000m) ~100-hole maiden drill program at Thor. Drilling recommenced within the western extent of the project area and worked back towards the eastern part of the project where drilling originally started during late 2021 (Figure 2)

GTI’s exploration objective for this drill program was to identify REDOX boundaries and potential host sands in addition to defining the depth, thickness, grade and width of mineralisation across the REDOX front. The Company is targeting mineralisation 50 feet (15 metres) or more below the water table.