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GTI Resources (ASX:GTI) - Executive Director, Bruce Lane - The Market Herald
Executive Director, Bruce Lane
Source: The Market Herald
  • GTI Resources (GTR) has commenced its aeromagnetic survey at its Niagara Gold Project in Kookynie, Western Australia
  • The survey aims to define and map potential gold mineralisation
  • Recent drilling at the project has discovered several significant gold anomalies
  • Nearby, Metalicity (MCT) has discovered exciting potential at its prospects in the Kookynie area
  • Due to Metalicity's results, GTI has fast-tracked its exploration at Niagara
  • GTI is up 3.45 per cent on the market today and is trading for three cents per share

GTI Resources (GTR) has commenced its aeromagnetic survey at its Niagara Gold Project in Western Australia.

The survey includes approximately 2200 line kilometres at 20-metre line spacings and aims to define and map potential gold mineralisation.

Niagara is located around six kilometres southwest of Kookynie in the central goldfields of WA. The project includes one granted exploration licence, E40/342 and four prospecting licence applications, P40/1506, P40/1515, P40/1516 and P40/1517.

Recent drilling at E40/342 has discovered several significant gold anomalies.

Nearby Projects

Highly successful exploration drilling at the Leipold and McTavish prospects, which are two and four kilometres north of Niagara, has shown the exciting potential at Kookyine. These prospects were drilled by Metalicity (MCT) as part of its farm-in agreement with Nex Metals Exploration (NME).

Executive Director Bruce Lance has said Metalicity's success has encouraged GTI to speed up the next phase of gold exploration and drill targeting at Niagara.

"Timing of the program fits perfectly from an execution planning point of view, with the exploration preparation work being undertaken at GTI’s Utah projects," he said.

The company’s uranium and vanadium projects in Utah remain the company’s key focus, however, we strongly believe that there is an interim opportunity to drive shareholder value through exploring the Niagara Project at Kookynie," he added.

What's next?

Follow up field exploration is planned and will include ground truthing, sampling and drill targeting.

Additionally, a program of work (PoW) has been approved for RC drilling within the project.

"We believe that the time is now right to accelerate exploration," Bruce said.

GTI is up 3.45 per cent on the market today and is trading for three cents per share at 3:48 pm AEST.


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