GTI Energy says that its drilling program has going “better than expected” after the first 40 holes of its latest exploration round in Wyoming.

Two mud rotary drill rigs have completed 40 drill holes for 6,209m of a planned total 30,000m program in Wyoming’s Great Divide Basin.

Drilling is focused in the north-east of Thor, including fresh ground at the State Section 29 and 20 leases. The program has so far encountered an additional strongly mineralised trend within State Section 29.

GTI Energy (ASX:GTR) says 20 of the 40 holes met both grade and grade-thickness (GT) cut offs with an average of 0.73 GT while 11 of the remaining holes met grade cut-off but not GT.

The best hole to date hit more than 21m of average 0.034% U3O8 with a total GT of 2.55.

Potential for economic ISR deposit

GTR managing director Bruce Lane says results have been “better than expected”.

“The new and strongly mineralised trend encountered within our Section 29 state lease shows that there is real potential for an economic ISR deposit at the project,” Lane said.

“The mineralisation identified continues to demonstrate real potential for ISR development as we extend our understanding of the roll fronts and work towards a resource report next year.”

What lies ahead?

GTR says the full program will be wrapped up by the end of 2022 if weather conditions remain favourable.

Further drilling results will be available in the coming weeks with final results, conclusions and recommendations for next steps to be developed during early 2023.

 

 

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This article was developed in collaboration with GTI Energy (ASX:GTR), 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.

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