GTI Energy (ASX:GTR) reports it has intercepted new ‘significant’ uranium trends from an ongoing drilling program at the Thor prospect, as part of its Wyoming ISR Properties in Wyoming, USA.
The results, generated by the first 40 drillholes of its planned 70 drillhole (12,200m) drilling program, have uncovered a ‘strongly mineralised’ trend within the prospect’s Section 29 state lease and have met both grade and GT cut-off within 20 of the 40 drillholes, returning an average GT of 0.73.
Current cut-offs are 0.02% (200ppm) U3O8 and 0.2GT.
This current 40,000ft drilling program makes up part of the company’s planned 100,000ft drill program across Wyoming’s Great Divide Basin and was commenced to target extents of about 2 miles of mineralised uranium roll fronts at the tenement.
Commenting on the results, GTI Energy Executive Director, Bruce Lane said: “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.
“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.”
The company also notes that drilling has shown 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 this area.
Drilling has also increased the confidence that at least three separate roll fronts exist in the main host sand, with additional sands positioned above and below the main sand units.
A lower sand unit in the northern area is also reported to contain roll front uranium mineralisation.
In addition, ongoing exploration at Section 29 has encountered mineralisation above the 0.2 GT target in the southern portion of the lease, with the best drillhole (BR-2041) to date returning a total hole GT of 2.55, demonstrating promise for the previously unexplored state lease properties.
These results carry the potential to enable estimation of inferred Mineral Resource Estimates (MRE’s) and/or an exploration target for the Thor prospect.
GTI holds 100% ownership of about 35,000 acres across several groups of strategically located and under-explored mineral lode claims and state leases that are prospective for sandstone hosted uranium within Wyoming’s prolific Great Divide Basin. The prospective properties are situated in proximity to low-cost operating uranium mining company UR-Energy’s Lost Creek ISR facility, multi-element explorer Rio Tinto’s (ASX:RIO) Sweetwater Mill and the GBD roll front REDOX boundary.
GTI Energy announces that drilling is expected to be completed in less than 14 days before drill rigs are moved on to either the Odin, Loki, Teebo or Wicket East tenements.
Images: GTI Energy Ltd
