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GTI Resources (ASX:GTI) - Executive Director, Bruce Lane
Executive Director, Bruce Lane
Source: The Market Herald
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  • GTI Resources (GTR) receives results from recent and historical drilling at the Henry Mountains Uranium and Vanadium Project in Utah, US
  • The company drilled 40 holes last month and logged 32 historical holes that were drilled on Section 36
  • 23 of the 40 holes are mineralised with the best hole containing five feet at 1790 parts per million (ppm) equivalent triuranium octoxide from 24.5 to 29.5 feet below surface
  • 10 of the other 32 holes were mineralised with the best hole containing 4.5 feet at 1430ppm equivalent triuranium octoxide from 39 to 43.5 feet below surface
  • Company shares are down 17.4 per cent to trade at 1.9 cents

GTI Resources (GTR) has received results from recent and historical drilling at the Henry Mountains Uranium and Vanadium Project in Utah, US.

The company drilled 40 holes last month and logged an additional 32 historical holes that were drilled on Section 36.

Positively, 58 per cent, or 23 of the 42 holes are mineralised. The best hole, 36‐1034, contained five feet at an average grade of 0.179 per cent (1790 parts per million [ppm]) equivalent triuranium octoxide from 24.5 to 29.5 feet below surface.

Of the 32 historical drill holes, 10 holes, or 31 per cent, were mineralised. The best hole, 36‐0318, contained 4.5 feet at an average grade of 0.143 per cent (1430ppm) equivalent triuranium octoxide from 39 to 43.5 feet below surface.

GTI Resources also discovered new mineralisation in the West Exploration Target Area and confirmed extensions of the mineralised envelope near the historical underground mine workings between the South and East portals and between the East portal and the outcrop to the south.

Mineralisation was also encountered in a slightly deeper horizon northeast of the East portal.

The company is now working on further interpreting these results ahead of conducting follow‐up fieldwork.

Company shares were down 17.4 per cent to trade at 1.9 cents at 11:15 am AEST.

GTR by the numbers
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