Uranium focused GTI Energy (ASX:GTR) reports it has uncovered a new 1.39 mile roll front trend following the return of ‘strong’ drilling results at the Thor prospect, as part of its Great Divide Basin in Wyoming, US.
The results, generated by 70 drillholes, have uncovered an additional 1.39 miles of roll front trend from within lease Section 29, bringing the known roll front trend to a total of 4.85 miles.
It is also reported that 50% of the conducted drillholes have successfully met grade and g/t cutoff, producing an average g/t of 0.65 and a peak g/t of 2.55.
The recently completed drilling campaign represents a follow-up campaign conducted as part of the company’s 2022 100,000-foot drill campaign and was undertaken to target about 2 miles of mineralised uranium roll fonts at the prospect.
Addressing the results, GTi Energy Executive Director, Bruce Lane said: “This round of drilling at Thor has confirmed our belief that the project has ‘significant’ potential to deliver a viable ISR uranium resource. Results have both met and exceeded our expectation, especially given the new and strongly mineralised trend encountered within our Section 29 state lease.
“This round of drilling at Thor has confirmed our belief that the project has ‘significant’ potential to deliver a viable ISR uranium resource”
The mineralisation identified shows real potential for ISR development and we are now well positioned to deliver a maiden resource estimate report on the Thor project in Q1 of next year. I look forward to continued exploration success at the Odin, Wicket East, Teebo and Loki prospects over the coming weeks leading up to Christmas.”
GTI Energy also notes that the encountered mineralisation meets the expectations for potential economic ISR uranium recovery and also confirms that the historic data is an ‘excellent’ guide for drilling.
The results also show that the main host sand appears to be continuous and indicates that the water table is situated over 100 feet above the main host sand, demonstrating that the geological and hydrogeological setting of the mineralisation is potentially conductive to ISR recovery.
In addition, results from the northern half of the prospects Section 31 area also delivered encouraging results, with drillhole BR-2026 returning an interval of 18.5ft thick 0.087% eU3O8, with an average grade of 1.61g/t in the lower sand unit.
GTI Energy’s Great Divide Basin is located in the state of Wyoming in the US and comprises about 22,000 acres of tenure across several groups of strategically located and underexplored mineral lode claims and state leases. The exploration properties are prospective for sandstone hosted uranium and are situated close to North America’s lowest-cost producer of uranium, Ur-Energy’s 18Mlb Lost Creek deposit and operating ISR uranium processing plant.
With the follow-up, 70 drillhole drilling campaign now complete, GTI Energy announces that drilling has now commenced at the Odin prospect in hopes of fulfilling the total 100,000-foot drilling program by the end of 2022, subject to weather conditions.
Further drilling results are expected to be made available in the coming weeks, with final results and recommendations for next steps to be developed during early 2023.
Images: GTI Energy Ltd
