GTI launches into high-impact uranium drilling
GTI has the green light to drill up to 40 exploration holes into ‘Section 36’ of its Henry Mountains uranium-vanadium project in Utah.
This follows the first stage of exploration which found that the thickness and grade of uranium mineralisation was consistent with that observed in the region’s past producing mines.
These operations produced more than 92 million pounds of uranium and 482 million pounds of vanadium.
GTI Resources (ASX:GTR) now expects to kick off drilling and the second stage of geophysical logging of an additional 39 existing small diameter drillholes in late June or early July.
Targets are located close to the principal existing underground mines, the East and West mines.
Pending results of the drilling, the company will target development of a JORC resource for Section 36 and other areas within the Henry Mountain project.
It added that the shallow nature of the mineralisation supports continued low-cost, rapid exploration advancements.
The first phase of exploration carried out by GTI consisted of geological mapping, detailed mapping of all existing underground adits and an initial geophysical downhole logging program of 56 existing drill holes.
More than half the holes logged showed at least trace elements of uranium oxide to a maximum depth of 61 feet (18.6m).
The highlight of the work was hole #36-14, which contained 4.5ft (1.5m) from 41ft (12.49m) at a grade of 0.19% equivalent uranium oxide, or 1,900 parts per million.
Within this zone, the best interval was 3ft (1m) at a grade of 0.26% equivalent uranium oxide, or 2,600ppm.
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.