- GTI Energy (GTR) receives first results from drilling at the Thor uranium prospect in the US state of Wyoming
- Forty out of 70 holes have been completed at the prospect with 20 holes meeting both the grade and grade thickness cut-off and one returning a grade thickness of 2.55
- Drilling at Section 29 also encountered a new mineralised trend in the southern portion of the lease which GTI says shows “real potential” for in-situ recovery development
- GTI Energy is continuing drilling with two rigs in operation and will announce further results as they become available
- Company shares are trading 6.25 per cent in the green at 1.7 cents at 2:22 pm AEDT
GTI Energy (GTR) is progressing drilling at the Thor in-situ recovery (ISR) uranium prospect within the Great Divide Basin in Wyoming, US.
Two mud rotary drill rigs have completed the first 40 of 70 planned holes at the Thor prospect where “economic” mineralisation was identified in a 100-hole drilling effort conducted between November 2021 and March 2022.
The 70-hole program forms part of GTI’s broader 2022 drilling program and is targeting extents of approximately 3.2 kilometres of mineralised uranium roll fronts at the Thor prospect.
GTI received initial results from Thor with 20 of the 40 holes meeting both grade and grade thickness (GT) cut-off with an average of 0.73 GT. Eleven of the remaining holes met grade cut-off but not the grade thickness.
The best results reportedly come from hole BR-2041 which returned an average 0.034 per cent equivalent uranium oxide, with a total hole GT of 2.55 and mineralised depths of between 270 and 494 feet.
Importantly, drilling at the Thor State Lease property (Section 29) encountered a new mineralised trend in the southern portion of the lease.
Executive Director Bruce Lane said the results have been “better than expected.”
“The mineralisation identified continues to demonstrate real potential for ISR development as we extend our understanding of the roll fronts and work towards a resource report next year,” Mr Lane said.
GTI Energy is continuing drilling with two rigs in operation and will announce further results as they become available.
Company shares were trading 6.25 per cent in the green at 1.7 cents at 2:22 pm AEDT.