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GTI get first look at uranium bounty

6 December 2021
ASX: GTR
Jack Baker

Strong results from five out of 10 first drill holes have glowed fruitful mineralisation at an ideal depth for an in-situ mining operation at GTI Resource’s Thor project in Wyoming.  

Five from ten drill holes proven shallow mineralisation ideal for in-situ recovery, particularly with the project’s water table lying a comfortable 100 feet above the uranium host sand.  

Eyes will now turn the most prospective drill hole of the burgeoning programme and yielding intersects of 27 and a half feet of at 0.44 per cent Tri uranium octoxide with a dense 1.92-grade thickness.  

Outcomes from the explorer have been highly predicted given the scale of projects across Utah, Colorado, and most importantly, its 900 hectares of historic uranium heartland in Wyoming’s Great Divide Basin.  

While pockets of concern linger about uranium’s place in the world’s low-carbon energy future, it is undeniable the clean-burning energy source has a vital role in meeting emissions targets. 

GTI has affirmed its commitment to transparency and carbon neutrality for the project, adopting an internationally recognised environmental, social and governance framework.  

The company will have around 100 drill holes at 50,000 feet now planned, with expected results in the coming weeks. 

GTR’s Australian Stock Exchange-listed price is trading at 2.4c (7:11 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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