GTI completes Utah drilling with uranium assays pending
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GTI has wrapped up drilling at the promising Section 36 of its Henry Mountains uranium-vanadium project in Utah and is now waiting on results.
Initial exploration and review of historical activity had concluded that the thickness and grade of uranium mineralisation at Section 36 is consistent with that observed in the region’s past producing mines, which produced over 92 million pounds of uranium and 482 million pounds of vanadium.
Little wonder then that GTI Resources (ASX:GTR) has drilled 40 holes to an average depth of 74 feet (23m) on exploration target areas close to the historical East and West mines.
It has also identified and logged a further 31 historical drill holes, taking the total number of historical Section 36 holes logged up to 87.
Initial downhole gamma assays for uranium are expected to be available during the next two weeks, while more detailed chemical assays that will include vanadium results are expected in late August or early September.
Looking ahead, the company plans to carry out further drilling with the goal of developing a JORC uranium resource for Section 36 and other areas within Henry Mountains.
GTI has about 1,500 hectares of land holdings in the Henry Mountains region of Utah within the prolific Colorado Plateau uranium province, historically the most important uranium resources in the US.
Geophysical downhole logging of 56 existing shallow holes carried out as part of the company’s first phase exploration at Section 36 had found that more than half of the holes contained at least trace elements of uranium oxide to a maximum depth of 61ft.
This topped up at hole #36-14, which contained 4.5ft grading 0.19% (1,900 ppm) equivalent uranium oxide from a depth of 41ft.
The company believes the shallow nature of the mineralisation is expected to support low-cost, rapid exploration advancements.
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.