GTI Resources

Acquisition of Significant New Wyoming ISR Uranium Project & $5m Placement

GTI Resources Ltd (Gil or Company) is pleased to advise that it has entered into a binding term sheet agreement (Term Sheet) to acquire 100% of Logray Minerals Pty Ltd (Logray) (Acquisition), holder of -13,800 acres (-5,600 hectares) of underexplored mineral lode claims (Claims), abutting Rio Tinto's properties & adjacent to GTI's existing Great Divide Basin (GDB) projects, at Green Mountain in Wyoming, USA (the Properties).


Highlights:

  • Strategic acquisition of -13,800 acres of contiguous ISR uranium exploration claims abutting Rio Tinto's claims at Green Mountain WY, increases GTI land to -35,000 acres
  • Properties lie close to existing GTI claims, & adjacent to Energy Fuel's 30M1b1 Sheep
  • Mountain, Rio Tinto's Jackpot 2, Ur-Energy's Lost Soldier & UEC's Antelope deposits
  • GTI has material holdings in the district with plans to explore multiple roll fronts
  • $5m Placement to fund acquisition & accelerate Wyoming ISR strategy
  • New funds enable increased drilling on roll fronts in proximity to major U308 deposits
  • Recent drill program success & understanding of the conditions for successful ISR recovery in the GDB positions GTI to capitalise on the burgeoning uranium market

Historical Kerr McGee drill data and oil-well exploration drill logs confirm the presence of roll fronts & the Battle Springs formation which hosts neighbouring major uranium deposits. The Properties are located in close proximity to Energy Fuel's (EFR) 30M1b4 Sheep Mountain deposit (Indicated), Ur-Energy's (URE) Lost Soldier ISR deposit, UEC's (UEC) Antelope deposit and they abut Rio Tinto's (RIO) which hold the Big Eagle (past producing), Jackpot3, Desert View, Phase II, & Willow Creek deposits (Figure 1). The Claims lie south of Green Mountain, "5kms from GTI's existing Odin claim group & within 15km of GTI's Thor project where a successful maiden drill program was completed during May 2022.


Click here for the full ASX Release

This article includes content from GTI Resources Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

GTR:AU
The Conversation (0)
Snow Lake Completes Due Diligence and Confirms Placement

Snow Lake Completes Due Diligence and Confirms Placement

GTI Energy (GTR:AU) has announced Snow Lake Completes Due Diligence and Confirms PlacementDownload the PDF here. Keep Reading...
Quarterly Activities/Appendix 5B Cash Flow Report

Quarterly Activities/Appendix 5B Cash Flow Report

GTI Energy (GTR:AU) has announced Quarterly Activities/Appendix 5B Cash Flow ReportDownload the PDF here. Keep Reading...
Lo Herma Drilling Permit & Contract Confirmed

Lo Herma Drilling Permit & Contract Confirmed

GTI Energy (GTR:AU) has announced Lo Herma Drilling Permit & Contract ConfirmedDownload the PDF here. Keep Reading...
Company Update - Name Change to 'American Uranium Limited'

Company Update - Name Change to 'American Uranium Limited'

GTI Energy (GTR:AU) has announced Company Update - Name Change to 'American Uranium Limited'Download the PDF here. Keep Reading...
Placement Shares Issued & Drilling Approval Expected August

Placement Shares Issued & Drilling Approval Expected August

GTI Energy (GTR:AU) has announced Placement Shares Issued & Drilling Approval Expected AugustDownload the PDF here. Keep Reading...
Mart Wolbert, nuclear reactors.

Mart Wolbert: Uranium at Key Point, US$150 Price is "Inevitable"

Mart Wolbert, analyst at Contrarian Codex, shares his key takeaways from the recent World Nuclear Symposium, also weighing in on the state of the uranium market today."I think all the fundamentals that we have seen over the past year, over the past two years — they're going to start to matter,"... Keep Reading...
Hand holding a magnifying glass over uranium on the periodic table.

Fluxnium Raises US$7 Million for Ocean Uranium as New Mexico Bans New Mining Leases

Seawater-extraction startup Fluxnium has raised US$7 million to advance its offshore uranium extraction technology, while New Mexico separately moves to ban new conventional uranium mining leases across state trust lands.Congruent Ventures, a climate-focused firm with more than US$1 billion... Keep Reading...
Two small tabletop flags, Indian and Uzbekistani, on a wooden surface with a blurred light background.

India Nears Long-term Uranium Deal with Uzbekistan

India and Uzbekistan upgraded bilateral relations to a comprehensive strategic partnership during Prime Minister Narendra Modi’s state visit to Tashkent, setting a US$5 billion trade target for 2030 and advancing negotiations for a new long-term uranium supply agreement.The pending deal would... Keep Reading...
Stack of US$100 bills with Benjamin Franklin visible.

US Doubles Down on Minerals, Manufacturing and Nuclear Power for Defense

The US Small Business Administration (SBA) and the US Department of War this week announced the creation of the Smaller War Plants Commission (SWPC), a new body meant to steer federal money, contracts and regulatory relief toward the small manufacturers that supply the American military.The... Keep Reading...

Interactive Chart

Latest Press Releases

Related News