GTI Resources Ltd (ASX:GTR) has completed its maiden drilling program at Thor ISR Uranium Project in Wyoming’s Great Divide Basin and has identified mineralisation "with economic potential based on widths, grades and depth".
This program of 100 drill holes for 48,540 feet (~15,000 metres) of drilling, which was completed on time and within budget, encountered mineralised roll fronts covering 17,640 feet of the project area, indicating great potential for in-situ recovery (ISR) uranium mineralisation.
The Perth-headquartered mining company with a focus on the exploration of uranium and gold assets, says drilling on the main host sand showed at least three separate roll fronts.
There were 35 holes that met or exceeded the target uranium cutoff grade while 23 holes recorded better than the minimum targeted economic Grade Thickness (GT) cutoff of 0.2 GT with an average of 0.57 GT.
Favourable uranium conditions
GTI is actively pursuing its strategy in Wyoming to take advantage of the favourable conditions for domestic uranium production in the US.
“The program at GTI’s Thor ISR Project in Wyoming successfully identified mineralisation with economic potential based on widths, grades and depth of mineralisation," said Doug Beahm of BRS Engineering, which managed the campaign.
"The drilling finished on time within budget. The mineralisation shows potential for development with a well mineralised and consistent thickness of ISR amenable sands starting at around 100 feet below the water table.
"These results indicate follow on drilling is merited and so we have started work on planning and permitting a follow‐up drill campaign at Thor plus first-pass reconnaissance drilling at GTI’s Odin Project located approximately 10 kilometres to the north of Thor.”
Only 20% of landholdings tested
In the Great Divide Basin, 80% of the company's landholdings have not yet been tested.
GTI's executive director Bruce Lane said results from the first 100 holes at Thor strongly justified follow-on campaigns across the company's Wyoming ground this summer
"I am excited by the fact that this first, wide-spaced, drill program covered less than 20% of GTI’s total landholding in the Great Divide Basin with most of our ground still to be tested."
Utilising the historical Kerr McGee drill maps, which were used to guide the drilling, helped achieve a high success rate, according to GTI.
Potential for development
"The nature of the mineralisation identified in the western and eastern sections of the project shows potential for development and we are sufficiently encouraged to continue to invest in further drilling," Lane added.
"We look forward to continuing exploration at a time when we think conditions for US domestic uranium supply, particularly in Wyoming, have seldom looked better.”
At Thor, a follow-up drilling program will target the eastern part of the claim block and the mineral leases owned by Wyoming State while drilling is also planned at GTI’s Odin Project, about 10 kilometres north, alongside the Thor follow‐up drilling.