GTI Resources intersects 8m of chunky uranium in latest drilling at Thor

Two mud rotary drill rigs have now completed the first 10 holes of the 100-hole 15,000m project with further drilling results expected in the coming weeks.

GTI Resources has made a positive start to drilling at the Thor ISR Uranium Project in Wyoming’s Great Divide Basin with the best intersection returning 8m at 0.044% uranium for 1.92 grade thickness (gt).

The rigs have now completed the first 10 holes with other significant assays led by 7m at 0.63% uranium for 1.74 ft.

GTI (ASX:GTR) calls the results encouraging, with mineralisation having met expectations for economic ISR uranium recovery.

Mineralisation conducive to ISR recovery

GTR says drilling confirms historical data is an ‘excellent’ guide, which has shown the geological and hydrogeological setting of the mineralisation to be conducive to ISR recovery.

The main host sand appears to be continuous in the area, GTR says, and the water table is more than 30m above the main host sand.

Drilling has also confirmed at least three separate roll fronts present in the main host sand with additional sands positioned above and below the main sand unit, showing at least trace mineralisation.

GTI hopes to encounter mineralisation of a similar tenor to that encountered at the nearby Lost Creek deposit and that otherwise meets typical economic cut-off criteria for sandstone hosted ISR uranium projects in Wyoming.

Looking ahead

The company says drilling is progressing well and should take less than 30 operational days in total to complete – allowing for weather, which has been great – and the Christmas break.

It’s expected that drilling will be done by early 2022. Meanwhile further drilling results are expected to be available in the coming weeks with recommendations for next steps to be developed at the end of the drill program during 2022.

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.