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GTi firm up on easy-access uranium find

29 March 2022
ASX: GTR
Jack Baker

GTi Resources confirmed a thick and quickly recovered uranium discovery from maiden drilling at the Thor project in US energy heartland Wyoming’s Great Divide Basin.

The Perth-based company have already discovered 17,640 feet of roll front deposits within its largely undrilled holdings.

And with a targeted 0.2-grade thickness, 23 holes have blown past the economic point and recorded an average of nearly triple that mark.

A uranium program within US borders comes as the superpower looks to utilise domestic supplies to power an expanding reactor fleet. At the same time, prices are over US$59 per pound and just shy of surpassing 11-year highs.

The company said the resource had shown the markers of being both cost-effective and environmentally non-invasive to extract.

“Drilling exceeded our expectations for the number of holes and the tenor”,” executive director Bruce Lane said.

“It shows potential for development with a well mineralised and consistent thickness.”

Drilling is planned for the adjacent Odin project alongside follow up at Thor.

GTR’s Australian Stock Exchange-listed share price was trading at 2.5c today (12.23 pm 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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