GTI Resources : Further Encouraging Thor ISR Uranium Project Drill Results
GTR.AX
21st December 2021
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FURTHER STRONGLY ENCOURAGING DRILL RESULTS AT THOR ISR URANIUM PROJECT
Highlights:
GTI Resources Ltd (GTI or Company) is pleased to advise that 2 mud rotary drill rigs completed 15 new holes last week. This brings the total holes drilled so far to 39 of a planned 50,000‐foot (~15,000m) ~100‐ hole maiden drill program at the Thor ISR uranium project in Wyoming's Great Divide basin (Figure 1).
Executive Director Bruce Lane commented "results from the first batch of drill holes at Thor have exceeded our expectations. The mineralisation encountered so far shows strong potential for development with a well mineralised and consistent thickness of ISR amenable sands starting at around 100 feet below the water table. We're delighted with the performance of the geological team and the drill crew in Wyoming, and we look forward to more good results after the Christmas break. The outlook for 2022 is very positive for uranium and it promises to be an exciting year for GTI."
Figure 1. Thor Project Uranium Drilling Location Map, Great Divide Basin, Wyoming USA.
Level 1/89 St Georges Terrace, Perth, WA 6000. Phone: +61 (0) 8 9226 2011, email: [email protected] web: www.gtiresources.com.au
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Figure 2. Mud Rotary Drill Rigs, Ancillary Equipment and Support Vehicles at the Thor Project.
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The first 39 drill holes at the Thor Project were completed for a total of 18,802 feet (5,731 metres) within Area 1 and Area 2 (Figures 1 & 3). Typical economically viable ISR grade and GT cut‐offs are: 0.02% (200ppm) U3O8 and 0.2GT ‐‐ i.e., 10 ft (3m) @ 0.02% (200ppm) U3O8. Results from the first 24 holes (including those previously reported) were characterised by (Table 1):
These results are in line with or better than expectation and are viewed by the Company as indicative of high potential for economic ISR uranium mineralisation.
Drilling is now largely completed in the initial drilling areas to the northeast (Area 1 in Figure 3) and to the southeast (Area 2 in Figure 3). Drilling to date has shown a consistent sand unit at ~200 feet that is 110‐ 120' thick within which there are three or more fronts.
These results continue to be very encouraging, and the mineralisation encountered meets and or exceeds expectations for economic ISR uranium recovery. Drilling to date has confirmed that the historic data is an excellent guide for drilling2. Drilling has also continued to show that the geological and hydrogeological setting of the mineralisation appears to be conducive to ISR recovery with the main host sand appearing to be continuous in the area and the water table being over 100 feet above the main host sand.
Drilling continues to show that there are at least 3 separate roll fronts present in the main host sand with additional sands positioned above and below the main sand unit showing at least trace mineralisation.
GTI's exploration objective for this drill program is to identify REDOX boundaries and potential host sands in addition to defining the depth, thickness, grade and width of mineralisation across the REDOX front. The Company is targeting mineralisation 50 feet (15 metres) or more below the water table. The drill program may ultimately enable estimation of inferred mineral resources and/or an exploration target.
Level 1/89 St Georges Terrace, Perth, WA 6000. Phone: +61 (0) 8 9226 2011, email: [email protected], web: www.gtiresources.com.au
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Table 1. Thor Drilling Preliminary Results Weeks 1 & 2
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Level 1/89 St Georges Terrace, Perth, WA 6000. Phone: +61 (0) 8 9226 2011, email: [email protected], web: www.gtiresources.com.au
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Table 1. (cont.) Thor Drilling Preliminary Results Week 3
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GTI hopes to continue to encounter mineralisation of similar tenor to that found so far. Ultimately the Company is focused on defining mineralisation similar to that discovered at the nearby Lost Creek deposit and that otherwise meets typical economic cutoff criteria for sandstone hosted ISR uranium projects in Wyoming's Great Divide Basin e.g.:
UR Energy's Lost Creek ISR uranium deposit (Figure 1) is reported to contain a remaining 13Mlbs of U3O8 at average grade of 0.048% eU3O8 (Measured and Indicated) at a cutoff Grade Thickness (GT) of 0.2.3
The 1st phase of the drilling program was completed as expected on December 17th for the Christmas break with the balance of the program planned to take place during early 2022 as conditions permit.
Final results, conclusions and recommendations for next steps will be developed at end of drill program during 2022.
Level 1/89 St Georges Terrace, Perth, WA 6000. Phone: +61 (0) 8 9226 2011, email: [email protected], web: www.gtiresources.com.au
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Figure 3. Thor Project Uranium Drilling Location Map, Great Divide Basin, Wyoming USA.
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Level 1/89 St Georges Terrace, Perth, WA 6000. Phone: +61 (0) 8 9226 2011, email: [email protected], web: www.gtiresources.com.au
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GTI Resources Limited published this content on 20 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 December 2021 22:59:07 UTC.