History shines a light on the golden potential of GTI’s exciting new Niagara ground
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An independent report into the history of newly acquired gold licences at GTI Resources’ Niagara project in WA has highlighted the exciting potential of the project.
An independent compilation of historical mine records from the state database of WA Mineral Exploration Reports (WAMEX) found historical workings on GTI’s (ASX:GTR) new licences produced 5100 ounces of gold at 25.8 grams per tonne between 1898 and 1914.
The report, conducted by CSA Global, also highlighted a number of notable historical drill intercepts at GTI’s new Niagara tenements.
The majority of these came from May, within the White Cross historic mining area, including:
An assay of 4m at 3.2g/t from 12m was reported from York on the Good Friday trend, while 6m at 1.5g/t from 54m was recorded at the Perseverance historic mining area.
Assays hit at nearby Green Bullet include 3m at 15.7g/t gold from 14m, 1m at 4.5g/t gold from 16m, and 1m at 4g/t gold from 6m.
Rock chip results from historical gold sampling include 165g/t at White Cliffs, 91.8g/t at Green Bullet, 40g/t at May-White Cross, 21g/t at Iolanthe, 20g/t at York-Good Friday and 11g/t at Perseverance.
The study focused on the company’s newly granted prospecting licences – P40/1515, P40/1516, P40/1517 and P40/1506, as well as the recently acquired P40/1513 and P40/1518. The company announced their acquisition last month.
Executive director Bruce Lane said the results were extremely promising.
“The report from CSA has now pulled together all of the known historical information available for the newly consolidated land package and what the report reveals has exceeded our expectations in terms of the exciting potential of the gold ground,” he said.
“We are now evaluating our options to create shareholder value from the project, as we prepare a plan and permits to properly test this historically heavily worked area using modern exploration techniques.”
The results are being used to guide targets at the project, with the mineralised trends in the east of the project area collectively up to 2.5km in length.
GTI is also currently working towards uranium exploration at its Henry Mountains project in Utah, where it recently completed planning and permitting work.
Exploration here is focused on one of two newly acquired exploration leases which consolidated the company’s land position along a 5.5km mineralised trend in the uranium-rich region.
Work here is expected to begin in April, depending on weather conditions.
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.