Drill Rigs Mobilised - Drilling Starts this Week

GTI Energy Ltd (GTI or Company) advises that two drill rigs have been mobilised to the Thor project to commence the first stage of ~100,000 ft of drilling at its Great Divide Basin (GDB) ISR uranium project in Wyoming.

Highlights

• Two drill rigs mobilised to site at GTI’s Great Divide Basin ISR uranium project
• Drilling to start this week targeting known roll fronts for ISR amenable uranium
• The campaign starts at Thor with ~40,000 ft of follow-up drilling
• The rigs will move to Odin, Teebo, Loki & Wicket East for a further 60,000 ft
• Drilling is anticipated to finish by Christmas 2022

Exploration Program Overview – Great Divide Basin (GDB)

DRILLING AT THOR

Drilling is expected to commence this week at Thor, located adjacent to Ur-Energy Inc’s (URE) 18Mlb Lost Creek uranium deposit and operating ISR uranium processing plant2.

Exploration at Thor to date has successfully identified mineralisation with economic potential based on widths, grades & depth of mineralisation (ASX release 29 March 2022)1.

The upcoming program at Thor includes follow-up drilling of up to 70 new holes (~40,000 ft) to target extensions of 2 miles of mineralised roll front already identified from drilling earlier this year.

The new drilling will focus in the north-east of the project, including at the Wyoming state leases located northeast of the claim blocks which GTI previously successfully explored2 (Figure 1).

DRILLING AT WICKET EAST

Wicket East lies on the southern boundary of Ur-Energy’s Lost Soldier Deposit (Figure 1).

Drilling of up to 20 holes (~20,000ft) at Wicket East seeks to explore a projected mineralised trend extending from the southern boundary of URE’s Lost Soldier property for ~3 miles.

This mineralised trend is interpreted from historic drilling information similar in nature to that used to plan the successful maiden drilling program at Thor.

DRILLING AT ODIN, LOKI & TEEBO

Odin & Teebo are located adjacent to Uranium Energy Corp’s (UEC) Antelope Project. The Loki claims sit south of UEC’s Antelope & north of URE’s Lost Creek.

Drilling of ~40 holes (~40,000 ft) collectively across Odin, Teebo & Loki also seeks to explore mineralised trends, over a combined length of ~5 miles, as interpreted from the historic drilling information previously used to plan successful maiden drilling at Thor.

FIGURE 1. GDB WYOMING ISR URANIUM PROJECTS. PLANNED EXPLORATION DRILLING AREAS

Executive Director Bruce Lane said “we’re delighted to confirm that the drill rigs have been mobilised to site and we look set to start drilling at Thor later this week. The drilling is sequenced, across the five project areas to deliver the full 100,000 ft program prior to Christmas. It is exciting to be back drilling again and we look forward to providing further updates in due course”.

Click here for the full ASX Release

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