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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) completes uranium drilling on time and within budget at its Henry Mountains Uranium and Vanadium Project in Utah
  • A total of 40 holes were drilled on Section 36 and followed on from phase one work completed in May
  • Initial downhole triuranium octoxide results are expected in the next two weeks with vanadium assays expected in late August or early September
  • Pending these results, GTR will undertake further drilling to develop a JORC compliant mineral resource for Section 36 and other areas with the project
  • Shares in GTR are up 3.85 per cent and are trading at 2.7 cents at 11:12 am AEST

GTI Resources (GTR) has completed uranium drilling on time and within budget at its Henry Mountains Uranium and Vanadium Project in Utah.

A total of 40 holes were drilled to an average depth of 23 metres on Section 36 after the company received approval in early June.

This was the second phase of exploration to be undertaken on Section 36 after first phase work was completed in May.

Phase one work included geological mapping, mapping of existing adits — which are entrances to an underground mine — and geophysical logging.

The best result came from hole 14 which intersected up to 0.26 per cent triuranium octoxide.

Initial downhole triuranium octoxide results from this phase two work are expected in the next two weeks with vanadium assays expected in late August or early September.

Pending these results, GTR will undertake further drilling to develop a JORC compliant mineral resource for Section 36 and other areas with the project.

Additionally, GTR completed geophysical logging of 31 historical drill holes, bringing the total number of historical drill holes logged to 87.

Shares in GTR were up 3.85 per cent and were trading at 2.7 cents at 11:12 am AEST.

GTR by the numbers
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