GTI Resources Ltd (ASX:GTR) is now approved to drill at the Thor ISR Uranium Project in Wyoming’s Great Divide Basin.
A 15,000-metre drill program will take place in December at the Thor project with the bonding process underway and contractor bids received for the mud rotary drilling campaign.
The campaign is due to begin on December 21 this year.
Acquisition on track
GTI has also received shareholder approval to acquire Branka Minerals Pty Ltd, the holder of the Wyoming uranium properties.
Approval paves the way for settlement of the acquisition to occur this week.
GTI Resources has entered into a binding agreement to acquire 100% of Branka’ which holds ~22,000 acres (~8,900 hectares) across several groups of strategically located and underexplored mineral lode claims and two state leases, prospective for sandstone-hosted uranium, in the Great Divide Basin (GDB), Wyoming, USA & the Uravan Belt, Colorado, USA.
The Wyoming properties are in proximity to UR Energy’s Lost Creek ISR Facility & Rio Tinto’s Sweetwater/Kennecott Mill and the GDB roll front REDOX boundary.