GTI Resources commences Utah Uranium Exploration Fieldwork
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
GTI Resources Ltd (ASX:GTR) has advised that the first phase of its spring exploration field activity commences this week, following settlement of the acquisition and transfer of two State of Utah mineral leases from Anfield Energy Inc.
Exploration fieldwork will commence within the Section 36 historical mines, which is within GTR’s land position along a 5.5km mineralised trend.
These historical mines represent a robust development target with over 1,300m of historical underground workings.
Bruce Lane, Executive Director of GTR said, “We are excited to be commencing our spring field program in Utah and to further explore the potential in the district for mine redevelopment and production of high‐ grade uranium and vanadium. We look forward to provide more details and results as work progresses.”
Located in the Henry Mountains district of south-central Utah, USA, exploration activities during Q4 of 2020 were focused on a significant exploration and development target within the Section 26 Mineral Lease.
As we reported in late October 2020, the prospectivity of this area was previously demonstrated by pXRF data and sample assays.
GTR completed subsequent underground mapping of the two prominent underground developments, coupled with high volume pXRF screening throughout these workings to define local characteristics of the mineralisation.
Through this work program GTI has mapped over 1,300 metres of underground development and pXRF screening has provided results as high as 19.64% U3O8 and 6.08% V2O5.
GTR believes that this early‐stage exploration work is only beginning to show the prospectivity of the project, strongly validating the acquisition of the Leases as well as the overarching strategy to develop a uranium and vanadium project within the Henry Mountains uranium district.
The company will commence fieldwork this week and will leverage the existing underground developments to aid in rapid advancement of the project.
The field team will meet this week locate the historic drill holes, record GPS locations and identify the specific target holes for geophysical logging.
The team will also examine the underground mines to determine current conditions for underground drilling, map any exposed mineralisation, collect channel samples as appropriate and mark locations for follow up drilling.
The results of this program will allow for study of the controls and distribution of ore‐grade mineralised material, as well as generate data for construction of a possible mineral resource.
The initial phase of the field program is expected to be completed by April 28, 2021. Pending the results of the initial field program the timing of the follow up drilling program will be determined.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
