Drill rigs and support equipment at the Thor project. Source: GTI Resources
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • GTI Resources (GTR) expects to commence its 2022 field program next week at the Thor ISR uranium project in Wyoming’s Great Divide basin
  • Plans are currently underway for field reconnaissance and drilling preparation, with two mud rotary drill rigs to be re-mobilised in the coming weeks subject to conditions
  • The drill rigs will complete the remaining 60 holes of a planned 100 hole maiden drilling program at Thor
  • Results so far confirm a discovery of an uranium mineralised system with strong economic potential
  • Shares down 4.76 per cent and trading at 2 cents

GTI Resources (GTR) is expecting to commence its 2022 field program next week at the Thor ISR uranium project in Wyoming’s Great Divide basin.

Plans are currently underway for field reconnaissance and drilling preparation, with two mud rotary drill rigs to be re-mobilised in the coming weeks subject to conditions.

These drill rigs will complete the remaining 60 holes of a planned 100 hole, 15,000 metre maiden drilling program at Thor.

Results from the previous holes have encountered a consistent and well mineralised sand unit at about 200 feet that is 110 to 120 inches thick within which there are three or more sandstone fronts.

Notably, the grade and thickness of the mineralisation appears to be similar to UR Energy’s Lost Creek deposit in the same geological setting.

“Drill results so far show that there is a strongly mineralised uranium system at Thor with potential for development,” Executive Director Bruce Lane said.

“The mineralisation grade and thickness encountered in 19 of the first 39 holes appears to be comparable to that of our neighbour UR Energy’s 18 million pounds production deposit at Lost Creek.

“We’re looking forward to recommencing drilling in the coming weeks with the outlook for 2022 remaining very positive for uranium.”

On the market today, GTI was down 4.76 per cent and is trading at 2 cents per share at 3:02pm AEDT.

GTR by the numbers
More From The Market Herald
Pure Hydrogen (ASX:PH2) - Managing Director, Scott Brown

" Pure Hydrogen (ASX:PH2) and Advik to establish hydrogen ecosystem in India

Pure Hydrogen (ASX:PH2) will form a joint venture with Indian-based automotive components manufacturer Advik Hi-Tech.
Adveritas (ASX:AV1) - CEO, Matthew Ratty

" Adveritas (ASX:AV1) achieves first TrafficGuard sale through Google Cloud Marketplace

Software company Adveritas (ASX:AV1) has made the first sale of TrafficGuard through the Google Cloud Marketplace.

" Etherstack (ASX:ESK) launches Narrowband Waveform product for NATO members

Etherstack (ASX:ESK) launches its NATO Narrowband Waveform standard waveform software for use by NATO member nations…

" Woodside Petroleum (ASX:WPL) makes official name change

Woodside Petroleum (ASX:WPL) has changed its name to Woodside Energy Group, effective from Wednesday, May 25.