Drilling delivers more uranium mineralisation
This morning our US-based uranium exploration Investment GTI Energy (ASX: GTR) put out some more drilling results from its 2022 drilling program in Wyoming’s Great Divide Basin.
As of today’s announcement, GTR has completed 10,300m of drilling — just a fraction of the planned total of 30,480m program (100,000 feet).
GTR has now completed drilling at the Thor prospect, and has moved on to the project's Odin prospect where two rigs are operating.
Drilling is expected to continue through to the end of the year and should be completed by Christmas. This means we expect to continue to see a steady stream of newsflow over the coming months.
As for today’s results, our key takeaways are:
- Increased strike length: ~1,609m of new roll front trends (host structures for ISR uranium) found to date, total strike length of uranium mineralisation now sits at ~7.8km.
- 50% of drilling meeting cut-off grades: ~35 of the first 70 drillholes completed have delivered an average grade x thickness (GT) of 0.65 (above the cut-off grade of 0.2).
These are both are important because they signal an increase in GTR’s overall project size and, we hope, translate into either an achievable exploration target or a maiden JORC resource estimate.
The ultimate aim of GTR’s drilling program is to define either one of the above, and we have set our expectations as follows:
