The company has recorded over 40 per cent of holes drilled exceeding minimum economic grade thickness cut-off of 0.2 grammes per tonne during the first phase of exploration at the Thor ISR uranium project in Wyoming’s Great Divide Basin.
The company said two mud rotary drill rigs had completed 24 holes of the 100-hole drill programme, progressing almost 3700 metres with mineralisation continuing to demonstrate characteristics conducive to in-situ uranium recover.
Holes, including those previously reported, have met both grade and GT cut-off with an average of 0.68GT. The remaining 14 holes range from barren to below-grade and trace mineralisation.
The company said the encouraging results combined with historical data had provided a detailed exploration roadmap.
“Drilling has continued to show that the geological and hydrogeological setting of the mineralisation is 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,” the company said.
“The drilling also continues to show that there are at least three 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.”
The company plans to identify REDOX boundaries and potential host sands and define the depth, thickness, grade, and width of mineralisation across the REDOX front.
GTR’s Australian Stock Exchange-listed share price was trading at 2.6c (11:16am UTC+ hours)