GTI Res confirms quality uranium at Thor, eyes economic recovery
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The uranium explorer’s maiden drilling at its Thor uranium project in Wyoming, USA, is paying off, with the identification of mineralisation with economic potential.
The company discovered at least 3 separate roll fronts present in the main host sand, with 35 holes meeting or exceeding the target uranium cutoff grade.
Plus, 23 holes recorded better than the minimum targeted economic grade thickness cutoff of 0.2GT, with an average of 0.57GT.
Doug Beahm of BRS Engineering, who managed the campaign, said that the mineralisation has all the characteristics conducive to in-situ recovery (ISR).
“The mineralisation shows potential for development with a well mineralised and consistent thickness of ISR amenable sands starting at around 100 feet below the water table,” he said.
So far, the company has discovered 17,640 feet of mineralised roll fronts, with 80% of its total land holding in the great Divide Basin still to be drill tested.
GTI Resources (ASX:GTR) executive director Bruce Lane reckons the results strongly justify follow-on campaigns across the company’s Wyoming ground this summer.
“The nature of the mineralisation identified in the western and eastern sections of the project shows potential for development and we are sufficiently encouraged to continue to invest in further drilling including at the yet to be tested lease blocks in the north‐eastern section of the project area,” he said.
“We look forward to continuing exploration at a time when we think conditions for US domestic uranium supply, particularly in Wyoming, have seldom looked better.
The company has started work on planning and permitting a follow‐up drill campaign at Thor plus first pass reconnaissance drilling at GTI’s Odin Project, approximately 10kms to the north of Thor.
Ultimately the company is focused on defining mineralisation like that discovered and mined at UR Energy’s nearby Lost Creek deposit.
Lost Creek is reported to contain a remaining 18Mlbs at cutoff Grade Thickness of 0.2 and made up of 11.9Mlbs of U3O8 at average grade of 0.046% eU3O8 (Measured and Indicated) and 6.6Mlbs of U3O8 at average grade of 0.044% eU3O8 (Inferred).
This article was developed in collaboration with GTI Resources Limited, 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.