GTI Resources gets head-start from data set for US projects
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Special Report: Vanadium and uranium explorer GTI has been handed the key to unlocking the secrets of its Utah projects with the acquisition of historical data for the area.
GTI Resources (ASX: GTR) says it will gain valuable insights into its Jeffrey, Rats Nest and Moki projects in Utah from the data set, which includes drill hole logs, resource maps, assay results and exploration and evaluation reports.
“The historical data package gives GTI a head-start in planning the next phase of exploration in Utah,” executive director Bruce Lane said.
An initial review of the data set has validated its decision to acquire two mineral leases that joins its Jeffrey and Rats Next projects into a larger 5.5km tract.
The acquired leases contain historical underground production workings prospective for uranium and vanadium from which sampling yielded hits of up to 81,745 ppm, or 8.17 per cent, for uranium and 28,375 ppm for vanadium.
GTI will use the data set to accelerate its evaluation of the projects in the northern part of Utah’s Henry Mountains region and further refine potential areas for drilling.
Of particular interest is historical drilling data for GTI’s Moki project near Ticaboo immediately east of the Tony M mine owned by Energy Fuels.
Approximately 1 million pounds of uranium oxide was mined from Tony M from 1979 to 2012 when it was acquired by Energy Fuels.
The data package will allow GTI to determine how the known ore-grade mineralisation for the Tony M mine relates to its Moki project.
GTI discovered the data set when it carried out due diligence into two mineral leases it acquired from Toronto-listed Anfield Energy in July.
A reconnaissance drill program at the Jeffery project targeted shallow mineralisation in near-surface sandstone of the lower Salt Walsh Member of the Morrison Formation at the northern end of the prospect.
Results from this showed the mineralisation trend is open to the south of the project next to the company’s Jeffrey claim and one of its newly-acquired leases.
“The initial sampling conducted on the new leases shows prospectivity for commercial grade ores and the possibility that exploration and development could be relatively quick and inexpensive,” said Lane.
The company is undertaking field activity in the third quarter to test the potential trend relationship at its Moki project with known ore-grade mineralisation at the Tony M mine.