Historical data identifies 5.5km uranium trend at GTI’s Utah project
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Special Report: Historical data has confirmed that a 5.5km-long uranium mineralised trend is present at GTI’s Jeffrey project in Utah.
The data, which includes more than 750 historical drill holes, has also indicated that significant mineralisation is present at the Moki project adjacent to Energy Fuels’ Tony M Mine that produced about 1 million pounds of uranium oxide from 1979 to 2012.
GTI Resources (ASX:GTR) says the data represents a replication value at present day costs of more than $10m and has substantially increased the number of drill targets.
Of the 362 holes located within the boundaries of the now expanded Jeffrey and Rats Nest project area, 135 intersected uranium mineralisation, while 42 of the 107 holes at the Moki project intersected mineralisation.
The data package includes over 235 holes that are outside of the company’s current land position, allowing for the evaluation of the surrounding terrain and improving local and regional trend interpretation.
“Analysis of the historical data package delivered a wealth of very high value information to GTI,” executive director Bruce Lane said.
“We now have several new targets to consider and the data has significantly boosted our understanding of the projects and our planning of the next phase of exploration in Utah.”
GTI has also received the results from its June 2020 drill program that confirm the grade and thickness of the intercepts as determined previously from the downhole gamma surveys.
Of the 12 completed holes, seven had significant intercepts of at least 50 parts per million (ppm) uranium and/or 750ppm vanadium.
Top results of up to 41,055ppm, or 41 per cent, vanadium and 7,642pm, or 0.76 per cent uranium were received.
The Jeffrey/Rats and Moki projects are part of a package of tenements the company picked up from its acquisition of Voyager Energy in September 2019.
These projects are located in the Henry Mountains mining district — a region which has already produced 92 million pounds of uranium and 482 million pounds of vanadium.
The region benefits from well‐established infrastructure and a mature mining industry including Energy Fuels’ White Mesa mill, which is the only conventional fully licensed and operational uranium/vanadium combination mill in the US.
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.