GTI Resources Ltd (GTI or Company) is pleased to advise that 2 mud rotary drill rigs have now completed 24 holes of its 50,000‐foot (~15,000 metre) ~100‐hole maiden drill program within exploration area 1 (Exp area1) at the Thor ISR uranium project in Wyoming’s Great Divide basin (Figure1).


Highlights:

  • 24 holes completed to date of ~100‐hole maiden drill program
  • 10 of 24 holes (42%) drilled to date met or exceeded the Grade Thickness (GT) cutoff with an average of 0.68GT
  • Encouraging results continue with over 40% of holes drilled recording better than the minimum economic Grade Thickness (GT) cutoff of 0.2GT1
  • Mineralisation continues to demonstrate characteristics conducive to ISR recovery
  • 1st phase of drilling to conclude December 17th with balance of holes planned for early 2022

The first 24 drill holes at the Thor Project were completed for a total of 12,041 feet (3,670 metres) within Area 1 (Figures1&3). Typical economically viable ISR grade and GT cut‐offs are: 0.02% (200ppm) U3O8 and 0.2GT ‐‐ i.e., 10 ft (3m) @ 0.02% (200ppm) U3O8. Results from the first 24 holes (including those previously reported) were characterised by (Table1):

  • 10 of 24 holes (42%) drilled to date met both grade and GT cutoff with an average of 0.68GT; and
  • Of the remaining 14 holes 2 met grade cutoff but not GT, 6 had trace mineralisation & 6 were barren.

These results are in line with expectation and are viewed by the Company as indicative of high potential for economic ISR uranium mineralisation.

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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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