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GTI Resources (ASX:GTR) - Executive Director, Bruce Lane
Executive Director, Bruce Lane
Source: The Market Herald
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  • GTI Resources (GTR) has completed the downhole uranium testing at the Jeffrey Project in Utah
  • A total of 26 open historical drill holes were available for logging, with data generated to calculate triuranium octoxide, a compound of uranium, assay values
  • Results from this testing will be available within the next 14 days
  • These results will extend the company’s knowledge of the local mineralisation trends within the project and will also assist a planned follow-up drilling program
  • The planned drilling program is expected to involve several shallow drill holes and will commence early July
  • GTI is up 4.35 per cent on the market today, selling shares for 2.4 cents each

GTI Resources (GTR) has completed the downhole uranium testing at the Jeffrey Project in Utah.

A total of 26 open historical drill holes were available for logging, with data generated to calculate triuranium octoxide (a compound of uranium) assay values. Results from this testing will be available within the next 14 days.

These results will extend the company’s knowledge of the local mineralisation trends within the project. It will also assist a planned follow-up drilling program.

GTI has already confirmed the presence of high-grade uranium and vanadium potential at the Jeffery project. These previous results included 1.39 per cent of triuranium octoxide and 2.46 per cent of vanadium pentoxide.

The planned drilling program is expected to involve several shallow drill holes and will commence early July. The company will provide more details on this drilling program in the near future.

In addition to the downhole logging work and the upcoming drilling program on the Jeffrey project, the company is also currently conducting sampling and mapping work on the underground workings at the nearby prospective Rat Nest project.

Downhole logging at Jeffrey. Sourced from GTI.

The Jeffrey Project is one of several projects GTI holds in Utah and covers an area of approximately 1500 hectares if the Henry Mountains region.

U.S. Uranium

The U.S. uranium sector is looking up due to President Donald Trump’s 2021 vision on U.S. nuclear leadership. This vision strengthens GTI’s potential to capitalise on high-grade and proximity to operating infrastructure.

Resources Director Bruce Lane said he “hopes the company’s high‐grade potential and proximity to operating infrastructure will strengthen the possibility for an early-stage production outcome under the supportive Trump regime.”

“I look forward to providing shareholders with a consistent flow of news on the project’s development, despite the challenging COVID 19 environment, with downhole data, further assays and drill interpretation leading to a highly prospective drill campaign in early July,” he added.

Niagara Gold Project

GTI’s West Australian gold project, Niagara, has recently completed an auger soil sampling program.

This program has identified several significant gold-in-soil anomalies at Niagara. However, the company is satisfied with what it’s uncovered so far, and says it has completed its annual work commitment on the project. Moving forward, GTI wants to focus on its uranium projects.

GTI is up 4.35 per cent on the market today, selling shares for 2.4 cents each at 11:11 am AEST.

GTR by the numbers
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