Join our daily newsletter At The Bell to receive exclusive market insights
- GTI Resources (GTR) says its recently completed drilling program at its Thor in-situ recovery (ISR) uranium project in Wyoming’s Great Divide Basin has identified mineralisation “with economic potential based on widths, grades and depth”
- The company says the 100-hole program totalling about 15,000 metres has encountered 17,640 feet of mineralised roll fronts within the project area
- Drilling shows at least three separate roll fronts present in the main host sand with additional sands above and below the main sand unit showing at least trace mineralisation
- GTI says the results are “in line with or better than expectations” and indicate high potential for economic ISR uranium mineralisation
- GTR shares 8.93 per cent lower at 2.6 cents
GTI Resources (GTR) says its recently completed drilling program at its Thor in-situ recovery (ISR) uranium project in Wyoming’s Great Divide Basin has identified mineralisation “with economic potential based on widths, grades and depth”.
The 100-hole program was carried out by two mud rotary rigs for an aggregate coverage of about 15,000 metres.
GTI says the drilling has encountered 17,640 feet of mineralised roll fronts within the Thor project, adding 80 per cent of its total landholding in the basin is still to be drill tested.
The drilling uncovered at least three separate roll fronts in the main host sand with additional sands above and below the main sand unit showing at least trace mineralisation.
A total of 35 holes have met or exceeded the target uranium cut-off grade, according to the company, while 23 holes recorded better than the minimum targeted economic grade thickness (GT) cut-off of 0.2 GT with an average of 0.57 GT.
GTI says the drill results are “in line with or better than expectations” and indicate high potential for economic ISR uranium mineralisation.
“The drilling finished on time within budget and exceeded our expectations for the number of mineralised holes and the tenor of mineralisation encountered,” said Doug Beahm from BRS Engineering, which managed the program.
“The mineralisation shows potential for development with a well mineralised and consistent thickness of ISR amenable sands starting at around 100 feet below the water table.”
Follow-up drilling is planned at Thor, with a focus on the eastern sector of GTI’s claim block and the Wyoming State mineral leases to the north-east.
GTI also intends undertaking first-pass reconnaissance drilling at the Odin project, about 10 kilometres north of Thor.
“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,” Executive Director Bruce Lane said.
GTI shares were trading 8.93 per cent lower at 2.6 cents at 11:30 am AEDT.
