‘Section 36’ drilling shows uranium thickness and grade consistent with region’s past producing mines, GTI says
Link copied to
Of the 40 holes recently drilled at GTI Resources’ ‘Section 36’ uranium project, 23 were mineralised — with the best hole containing 1.52m at an average grade of 1,790ppm, ~7m below surface.
GTI’s (ASX:GTR) Section 36 is part of the 1500-hectare Henry Mountains uranium-vanadium project in Utah.
The wider region has historically produced more than 17.5Mt @ 2,400ppm U3O8 (92 mlbs U3O8) and 12,500 ppm V2O5 (482 mlbs V2O5) since 1904.
This new drilling program followed the successful logging of 56 existing holes and mapping of existing underground adits (mining tunnels) completed earlier this year.
A total of 40 new holes were drilled and an additional 32 historical drill holes logged.
Importantly, new mineralisation has been discovered in the ’West Exploration Target’ and drilling confirmed extensions of the mineralised envelope “in proximity to the historical underground mine workings between the South and East portals, and between the East portal and outcrop to the south”.
Mineralisation was also encountered in a slightly deeper horizon northeast of the East Portal.
Initial exploration and review of historical activity has concluded that the thickness and grade of uranium mineralisation at Section 36 is consistent with that observed in the region’s past producing mines, the company says.
GTI is working to further interpret these results in advance of confirming follow‐up fieldwork.
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.