GTI Resources Ltd (ASX:GTR) is about to kick off its 2022 work program at Thor ISR Uranium Project in Wyoming, USA, as it prepares to complete the remaining 60-odd holes of a planned 100‐hole maiden drill program.
Field reconnaissance is scheduled to begin next week with two mud rotary drill rigs to be mobilised, weather permitting, to finalise the 15,000-metre drill campaign.
Strong economic potential
The company is confident of the strong economic potential of the project, with results to date confirming the discovery of significant uranium mineralisation in the area.
Mineralisation reveals characteristics conducive to ISR recovery and compares favourably with the neighbouring 18-million-pound Lost Creek production deposit.
These final 60 holes of the drilling program will complete testing of the newly discovered mineralised system at Thor.
"Drill results so far show that there is a strongly mineralised uranium system at Thor with potential for development," executive director Bruce Lane said.
Comparable to neighbouring deposit
"The mineralisation grade and thickness encountered in 19 of the first 39 holes appears to be comparable to that of our neighbour UR Energy’s 18-million-pound production deposit at Lost Creek,” Lane said.
“We’re looking forward to recommencing drilling in the coming weeks with the outlook for 2022 remaining very positive for uranium.”
Drill results from 39 holes completed by GTI in 2021 at Thor compare favourably to other Wyoming ISR projects, which do report average GT, such as Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF)’s Lance project, which reports an average GT of 0.46.3.
Final results, conclusions and recommendations for next steps will be developed at the end of the drill program.