- GTI Resources (GTR) has been granted approval for a 15,000-metre drill program at the Thor Project in Wyoming’s Great Divide Basin, targeting in-situ recovery uranium
- The company says the bonding process is underway and contractor bids have been received for the mud rotary drilling campaign
- The news follows shareholder approval for the acquisition of the holder of the Wyoming uranium properties, Branka Minerals
- Settlement of the acquisition is expected to occur this week, with drilling scheduled for December 21
- GTI Resources was up 6.9 per cent, trading at 3.1 cents at 11:50 am AEDT
GTI Resources (GTR) has been granted approval for a 15,000-metre drill program at the Thor Project in Wyoming’s Great Divide Basin.
The drilling looks to target in-situ recovery amenable uranium.
The company said the bonding process is underway and contractor bids have been received for the mud rotary drilling campaign.
On October 29, GTI shareholders approved the issue of the vendor consideration for the acquisition of the holder of the Wyoming uranium properties, Branka Minerals.
The acquisition covers Branka’s roughly 22,000 acres and two stat leases, considered prospected for sandstone hosted uranium.
The properties are located in the Great Divide Basin in Wyoming and the Uravan Belt in Colorado, USA.
Following the acquisition, GTI Resources will control the largest non-US, Russian or Canadian owned uranium exploration land holding in Wyoming’s Great Divide Basin.
Settlement of the acquisition is expected to occur this week, with drilling scheduled for December 21.
GTI Resources was up 6.9 per cent, trading at 3.1 cents at 11:50 am AEDT.