GTI buys up Green Mountain uranium project, to get its yellowcake and eat it, too
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GTI has increased its uranium landholding in Wyoming by 40% to about 14,163 hectares after completing the acquisition of Logray Minerals and its Green Mountain project.
The new properties are close to Energy Fuel’s 30Mlb Sheep Mountain deposit, Ur-Energy’s 14Mlb Lost Soldier ISR deposit, and Rio Tinto’s Big Eagle (past producing), Jackpot, Desert View, Phase II and Willow Creek deposits.
Green Mountain is also located just 15km from GTI Resources’ (ASX:GTR) Thor project where follow-up drilling is due to start next month following a successful maiden drill program that was completed in May.
The project contains a number of uranium mineralised roll fronts hosted in the Battle Springs formation.
This is confirmed by historical Kerr McGee drill data, which has been a reliable guide to exploration at GTI’s Thor Project, and oil exploration drill logs.
GTI will kick off its July program with the drilling of 70 holes totalling 12,000m targeting extensions of the 3.2km mineralised roll front at the northeastern section of Thor.
This includes two Wyoming state leases that are north and east of the lode claim blocks.
Drilling will then move to the Wicket East Project, which abuts the southern boundary of UR-Energy’s Lost Soldier deposit.
The company will drill up to 20 holes to test a projected mineralised trend extending from the southern boundary of the Lost Soldier property for about 4.8km.
It will then drill up to 40 holes totalling about 18,000m to explore mineralised trends totalling 8km across the Teebo, Loki and Odin projects.
This article was developed in collaboration with GTI Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.