- GTI Resources (GTR) completes 24 holes of the planned 100-hole drilling program within exploration area one at the Thor ISR uranium project in Wyoming’s Great Divide basin
- Ten of the holes met both grade and the 0.2 grade thickness (GT) cut-off in line with an average of 0.68GT
- A further two holes met the grade cut-off but not GT, six encountered trace mineralisation and six were barren
- Drilling has since moved from the northeast area to the southeast claim group to wrap up phase one of the 15,000-metre program before the Christmas break
- GTI has been trading steady at 2.6 cents per share
GTI Resources (GTR) has completed 24 holes from a 100-hole drilling program within exploration area one at the Thor ISR uranium project in Wyoming’s Great Divide basin.
The 15,000-metre maiden drilling program is aimed at identifying REDOX boundaries and potential host sands as well as defining the depth, thickness, grade and width of mineralisation. In addition, drilling may ultimately enable the delivery of an inferred mineral resources and/or an exploration target.
Out of the 24 holes drilled to date, 10 — or 42 per cent — met both grade and the 0.2 grade thickness (GT) cut-off with an average of 0.68GT. Of the remaining 14 holes, two met the grade cut-off but not GT, six encountered traces of mineralisation, and six were barren.
Drilling has also shown the geological and hydrogeological setting of the mineralisation appears to be conducive to ISR recovery with the main host sand appearing to be continuous in the area and the water table being over 100 feet above the main host sand.
The company said the results were in line with expectation and are believed to indicate high potential for economic ISR uranium mineralisation.
Drilling is now completed in the northeast and has moved to the southeast claim group.
GTI Resources expects the first phase of the drilling program will be completed on December 17 and will recommence following the Christmas break. The company does expect some more drill results prior to Christmas.
GTI was trading steady at 2.6 cents per share at 11:56 am AEDT.