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GTI make good on the Great Divide

19 October 2022 11:26
ASX: GTR

GTI Energy‘s follow-up drilling campaign at the Thor project is off to a flying start, with the first 6209 metres of drilling already confirming significant new uranium trends in Wyoming’s Great Divide Basin.

Of the 40 holes drilled so far, half have met the GTI cutoff for both grade and grade thickness cutoff, with its best hole to date at Thor hitting a GT of 2.55.

The new trends were picked up in Section 29 of the prospect in part of an over 30 thousand metre drilling campaign targeting the extent of approximately 2 miles of mineralised uranium roll fronts at Thor.

Drilling added another 4593 feet of new roll front trends, bringing the new total to 22,233 and backing belief that the project plays host three separate mineralised roll fronts.

Adjacent to the 18Mlb Lost Creek deposit, Thor has been the top priority since early exploration showed mineralisation with considerable economic potential based on widths, grades and depth.

The company says the results have already exceeded its expectations.

“In particular the new and strongly mineralised trend encountered within our Section 29 state lease shows that there is real potential for an economic ISR deposit at the project,” executive director Bruce Lane said.

“The mineralisation identified continues to demonstrate real potential for ISR development as we extend our understanding of the roll fronts and work towards a resource report next year. We look forward to continuing exploration over the coming weeks and months.”

With two rigs on site, drilling is moving at a rapid pace and is expected to wrap in around two weeks, after which the rigs will be moved to another of multiple GTI prospects in the Basin.

GTR’s Australian Stock Exchange-listed share price has risen 6.25 per cent today, currently selling at 1.7c (11:07 am UTC+ 8 hours).

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