GTI Resources (ASX:GTR) - Executive Director, Bruce Lane
Executive Director, Bruce Lane
Source: The Market Herald
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  • GTI Resources (GTR) completes drilling at the Thor ISR uranium project in Wyoming’s Great Divide Basin
  • Drilling began in November with 100 holes planned to confirm the grade and tenor of the uranium mineralisation and support the definition of an economic resource
  • GTI hoped it would encounter mineralisation similar to the nearby Lost Creek deposit where more than 200 parts per million triuranium octoxide was identified
  • The company expects to report on the results in the first half of April
  • Shares in GTI are up 9.52 per cent on the market and are trading at 2.3 cents

GTI Resources (GTR) has completed drilling at the Thor ISR uranium project in Wyoming’s Great Divide Basin.

Drilling began in November 2021 with 100 holes, for 15,000 metres, planned, to confirm the grade and tenor of the previously identified uranium mineralisation and support the definition of an economic uranium resource.

Drilling also aimed to enable the estimation of inferred mineral resources or an exploration target.

GTI hoped it would encounter mineralisation similar to the nearby Lost Creek deposit where more than 200 parts per million (ppm) triuranium octoxide was identified.

The company expects to report on the results in the first half of April.

“The drilling campaign was concluded on time and within budget and has demonstrated a continuation of uranium mineralisation first discovered in the eastern part of the project area during late 2021,” Executive Director Bruce Lane commented.

“We look forward to providing a detailed analysis of results, during April, which we anticipate will help illustrate the project’s potential.

“The recent unrest in Kazakhstan and the current conflict between Russia and Ukraine serve to highlight the significant opportunity for US domestic uranium producers to once again support the US nuclear power reactor fleet which requires around 50 million pounds of triuranium octoxide annually, none of which currently comes from the US.”

Shares in GTI were up 9.52 per cent on the market and were trading at 2.3 cents at 12:50 pm AEDT.

GTR by the numbers
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