Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • GTI Resources has raised $2 million to fund drilling at its uranium and vanadium projects in Utah
  • The drilling program will initially target 10 holes
  • Due to historical results, GTI believes the project may have significant potential
  • Following the raise, the company is fully funded as exploration continues
  • GTI’s share price is remaining flat today, currently sitting at 1.3 cents

GTI Resources has completed a $2 million raised to help fund a drilling program at its Utah based uranium and vanadium projects.

According to the company, the finances raised from shareholders leave it fully funded as it heads into the next stage of exploration.

GTI has finished the mapping, sampling and investigating historical drill holes during the first phase of exploration to determine potential new drill targets.

The second phase of exploration includes targeting identified areas of uranium and vanadium mineralisation with a drilling program. It is expected the drilling will begin towards the end of the year.

Once the drill campaign commences the holes will be cored and geophysically logged. This will provide instant details regarding grades which will guide drilling.

The initial drilling is expected to target 10 holes. Due to historical success on-site the company expects the project will “demonstrate significant potential.”

Early next year, GTI plans to begin exploration efforts and a nearby prospect at the project.

GTI’s share price is remaining flat today, currently sitting at 1.3 cents apiece.

GTR by the numbers
More From The Market Herald
Raiden Resources (ASX:RDN) - Managing Director, Dusko Ljubojevic

" Raiden Resources (ASX:RDN) embarks on exploration in Eastern Europe

Raiden Resources (RDN) is continuing to progress its exploration strategy across the Western Tethyan portfolio of assets in Eastern Europe.
Dateline Resources (ASX:DTR) - Managing Director, Stephen Baghdadi

" Dateline Resources (ASX:DTR) completes Colosseum acquisition

Dateline Resources (DTR) has completed its acquisition of the Colosseum Gold Mine and associated permits from LAC Minerals.
The Market Herald Video

" Tesoro Resources (ASX:TSO) eyes $7.3m capital raise for El Zorro

Tesoro Resources (TSO) is looking to raise $7.3 million to advance work at its El Zorro gold project in Chile.

" Investigator Resources (ASX:IVR) intersects encouraging gold and silver around Paris

Investigator Resources (IVR) has intersected encouraging gold and silver mineralisation at the Ares, Paris East and Helen East targets in Western Australia.