Significant New Uranium Trends Discovered With Best Hole Of 2.55 GT From 40 Holes Completed To Date At Thor

GTI Energy Ltd (GTI or Company) is pleased to advise that 2 mud rotary drill rigs have now completed the first 40 holes, for 20,370-feet (6,209 metres), of its planned 100,000-foot drill program in Wyoming’s Great Divide Basin. Drilling is continuing within the Thor prospect where a total of 40,000-feet (12,200 metres) is planned for ~70-holes of drilling (Figure 2).

Highlights

• Two rigs in operation at GTI’s Thor ISR uranium prospect
  
• First 40 holes completed of the ~40,000ft (~12,200m) 70-hole drill program
• A new and strongly mineralised trend encountered within state lease Section 29
• Best hole to date with a sum 71.5 feet of average 0.034% (range 0.021%-0.142%) eU₃O₈ with a total hole GT of 2.55, mineralised depths between 270 – 494 feet.
  
• Mineralisation conducive to ISR recovery with water table 100-200 ft above host sands
• 4,593 ft of new roll front trends found to date for a total of 22,233 ft (4.21 miles)

Drilling has continued at the Thor prospect, located adjacent to Ur-Energy Inc’s (URE) 18Mlb Lost Creek deposit and operating ISR uranium processing plant2. Exploration at Thor previously identified mineralisation with economic potential based on widths, grades & depth of mineralisation (ASX release 29 March 2022)1. An initial 100-hole (~50,000 ft) drilling campaign was completed at Thor between November 2021 and March 2022. As part of GTI’s 2022 100,000-foot drill program, a 70-hole follow-up campaign is underway to target extents of approximately 2 miles of mineralised uranium roll fronts at the Thor Project.

Forty holes have been completed at Thor to date of a planned 70-hole (~40,000 ft) program. Drilling is focused in the north-east of Thor, including fresh ground at State Section 29 & 20 leases (Figures 2 & 4).

40 holes were completed for a total of 20,370 feet (6,209 metres) of drilling (Figures 2 & 4). Typical economically viable ISR grade and Grade Thickness (GT) cut-offs are: 0.02% (200ppm) U₃O₈ and 0.2GT i.e., 10 ft (3m) @ .02% (200ppm) U₃O₈. Initial results (Tables 1 & 2) are observed as follows:

• 20 of 40 holes met both grade and GT cutoff with an average of 0.73 GT
  
• 11 of the remaining holes met grade cutoff but not GT, 5 had trace mineral & 4 were barren

Executive Director Bruce Lane commented “Results from the first 40 holes have been better than expected. In particular the new and strongly mineralised trend encountered within our Section 29 state lease shows that there is real potential for an economic ISR deposit at the project. The mineralisation identified continues to demonstrate real potential for ISR development as we extend our understanding of the roll fronts and work towards a resource report next year. We look forward to continuing exploration over the coming weeks and months.”

Click here for the full ASX Release

This article includes content from GTI Energy 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.