GTI Resources Ltd (GTI or Company), has successfully completed its maiden 100-drill hole exploration program at the Thor ISR uranium project in Wyoming's Great Divide Basin (GDB) (Figure 1). Two mud rotary rigs completed 100 holes for 48,540ft (-15,000m) of drilling on time & within budget (Figure 2).


Highlights:

  • Maiden -15,000m drill program completed on schedule and within budget.
  • Drilling has so far discovered 17,640 feet of mineralised roll fronts within the Thor project with 80% of GTI's total land holding in the great Divide Basin still to be drill tested.
  • Mineralisation demonstrates characteristics conducive to ISR recovery.
  • Drilling discovered at least 3 separate roll fronts present in the main host sand.
  • 35 holes met or exceeded the target uranium cutoff grade.
  • 23 holes drilled recording better than the minimum targeted economic Grade Thickness (GT) cutoff of 0.2GT1 with an average of 0.57 GT.
  • Follow-up drilling planned at Thor will focus on the eastern portion of the claim block and the Wyoming State mineral leases to the north-east.
  • Drilling also planned at GTI's Odin Project, -10kms north, alongside Thor follow-up drilling.
  • GTR is actively pursuing its strategy in Wyoming to aggressively capitalise on supportive conditions for US domestic uranium supply.

Doug Beahm of BRS Engineering, who managed the campaign, commented "the program at GTI's Thor ISR Project in Wyoming successfully identified mineralisation with economic potential based on widths, grades and depth of mineralisation'. The drilling finished on time within budget & exceeded our expectations for the number of mineralised holes and the tenor of mineralisation encountered. The mineralisation shows potential for development with a well mineralised & consistent thickness of ISR amenable sands starting at around 100 feet below the water table. These results indicate follow on drilling is merited & so we have started work on planning & permitting a follow-up drill campaign at Thor plus first pass reconnaissance drilling at GTI's Odin Project located approximately 10kms to the north of Thor."

Executive Director Bruce Lane commented "results from the first 100 holes at Thor strongly justify follow on campaigns across our Wyoming ground this summer. The historical Kerr McGee drill maps, which were used to guide this drilling, proved to be instrumental in generating our high strike rate from the drilling. The nature of the mineralisation identified in the western & eastern sections of the project shows potential for development and we are sufficiently encouraged to continue to invest in further drilling including at the yet to be tested lease blocks in north-eastern section of the project area. I'm excited by the fact that this first, wide spaced, drill program covered less than 20% of GTI's total land holding in the Great Divide Basin with most of our ground still to be tested. We look forward to continuing exploration at a time when we think conditions for US domestic uranium supply, particularly in Wyoming, have seldom looked better."

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This article includes content from GTI Resources 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.

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