GTI Resources Ltd (ASX:GTR) remains on track to complete an extensive drill program at its Thor ISR uranium asset in Wyoming’s Great Divide Basin by mid-March.
Two mud rotary drill rigs recommenced the maiden campaign in February, aiming to complete the remaining 60 holes in GTI’s planned 15,000-metre, 100-hole drill programs.
Now, there are just nine holes to drill, and the uranium explorer says these are on track to wrap up by the middle of next week.
GTI expects a full set of results and final interpretation, spanning the entire 100-hole campaign, will become available during the first half of April.
“A bright future”
Speaking to the work at Thor, GTI executive director Bruce Lane said he was very pleased with the drilling progress to date.
This year’s drilling confirms the continuation of the uranium mineralised system first discovered in the eastern part of the project area in late 2021,” he said.
“Once this initial phase of drilling is completed next week, we look forward to detailed analysis on the full set of results, which we anticipate will help demonstrate the project’s economic potential.
We believe there is a bright future of ISR uranium mining in Wyoming due to a supportive state government, coupled with surging global demand for emissions-free electricity and a corresponding rapid global growth in nuclear power production at a time when the global uranium market is experiencing a large and entrenched supply deficit that looks set to worsen.”
