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GTi firm up on easy-access uranium find

29 March 2022 14:57
ASX: GTR

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).

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