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GTI resources begin hammering at Thor

30 November 2021
ASX: GTR
Jack Baker

The Thor project’s two rigs have commenced drilling for uranium on schedule in Wyoming’s historic Great Divide basin as GTI Resources moves forward with intensive exploration in US’s nuclear material heartland.  

With uranium and vanadium holdings across Wyoming, Colorado, and Utah, GTI holds the potential to emerge as a globally significant player, with China and Japan ramping up nuclear capabilities amid shortening supplies.  

GTi is confident the15,000-metre maiden drill program of around 100 holes will confirm the grade and tenor of uranium mineralisation previously identified by Kerr McGee in the 1980s and ultimately support the definition of an economic in-situ uranium resource.     

The region’s archival drilling data provided strong impetus for prioritising Thor, aiming to find mineralisation akin to the ultra-low-cost neighbouring Lost Creek deposit.   

Steadfast in its earnest belief of nuclear as a clean and environmentally low-impact energy source, GTI is committed to its corporate social responsibility in the energy sphere.   

Closer to home, the company continues accelerating its underexplored and highly prospective gold project southwest of Kookynie in the central goldfields of Western Australia. 

GTR’s Australian Stock Exchange-listed price has risen nearly 7.69pc today, currently trading at 2.8c (10:05 am UTC+8 hours) 

COMPANY OVERVIEW

Focussed on exploring for, defining and developing economic ISR Uranium resources – GTI Resources is part of Wyoming’s Insitu Recovery (ISR) uranium mining renaissance. GTI saw US uranium supply’s collapse and anticipated the coming surge in demand for uranium as a core component of America’s drive for homegrown, sustainable clean energy solutions. This led us to position GTI to be part of the resurgence in demand for uranium using the lowest-cost and cleanest method of mining uranium, ISR. Providing corporate transparency, GTI has also adopted the internationally recognised Environmental, Social and Governance SCM Framework created by the World Economic Forum (WEF), where all progress is measured against these core metrics and included in GTI’s annual report on the ASX. The key driver of value creation for GTI is making economic uranium discoveries. GTI’s ISR uranium projects in Wyoming position us to define uranium resources that can potentially be developed quickly & cost effectively with a low environmental impact.

COMPANY INFORMATION

ASX: GTR

Website

https://www2.asx.com.au/markets/company/gtr

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