Rig mobilised - drilling to start this week.

Published 13-SEP-2022 12:50 P.M.

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This morning our US-based uranium exploration Investment GTI Energy (ASX: GTR) confirmed that its drill rigs were being mobilised ahead of its 2022 drilling program.

GTR’s 2022 drilling program will be for a total of 100,000 feet (~30,000 metres) at its uranium projects in Wyoming.

Drilling is expected to start this week and is expected to be completed by Christmas.

The ultimate aim of this drilling program is to put out a maiden uranium resource estimate or, at the very least, an achievable exploration target to base future exploration programs.

We will measure the success of GTR’s drilling program against the following expectations:

Bull case = Uranium intercepts lead to a maiden JORC resource.
Base case = Enough uranium intercepted to put together an achievable exploration target.
Bear case = No uranium is intercepted. Projects are considered stranded.

We did a deep dive on the upcoming drilling program in our most recent GTR note which you can read here: GTR launching USA uranium drilling campaign.