Next Investors logo grey

GTI Resources commences extensive drilling program at Niagara


Published 13-AUG-2020 10:10 A.M.


3 minute read

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 commenced its phased exploration program including its maiden drilling campaign at the Niagara gold project in Western Australia.

Niagara is a highly promising exploration project which now covers over 8 kilometres of prospective strike length on the underexplored Niagara Trend, adjacent to historical high‐grade gold mines.

GTR has also been making good progress at its Utah uranium and vanadium projects with interpretation of historical data and planning for the next stage of exploration now underway.

Management is rapidly evaluating the potential for economic gold mineralisation across the newly consolidated and historically underexplored Niagara Trend near Kookynie in WA’s highly prospective eastern goldfields.

The project is located within the central part of the Norseman‐Wiluna greenstone belt.

As indicated below, numerous historical workings occur within and to the north of the project area, with a number of major historical mines located in the immediate vicinity of Kookynie, including the Cosmopolitan Mine that produced approximately 360,000 ounces of gold at average grade of 15 g/t gold from 1895 to 1922.

4 - gtr.PNG

10,000 metres of drilling planned at Niagara

The next phase of field exploration at Niagara is set to commence on 17 August, with ground-truthing and a significantly expanded 1,000‐hole soil sampling program using auger drilling.

The geochemical results from this program will be integrated into the existing geochemical, geophysical and geological data sets to aid in targeting the circa 50‐hole first phase aircore drilling campaign now planned for September.

GTR then plans to conduct a second phase of drilling, utilising targeted deeper reverse circulation drilling during October to test the most attractive zones of interpreted gold mineralisation.

The company has approvals in place for its program of works which includes 10,000 metres of drilling at the Niagara project.

Drawing confidence from Metalicity’s success

Underlining the company’s strategy and its degree of confidence regarding the upcoming exploration program, executive director Bruce Lane said, “GTR made the decision to accelerate gold exploration activities at Niagara in response to our recent anomalous soil sampling results and in light of the spectacular drilling results achieved by Metalicity, our nearby neighbour (see tenements to the north of Niagara on above map).

‘’Niagara is an exciting exploration project which now covers over 8 kilometres of prospective strike length on the underexplored Niagara Trend, adjacent to historical high‐grade gold mines.

‘’We are very encouraged by the results of July’s aeromagnetic survey when it is combined with the geochemical results from our initial soil sampling program.

‘’These programs are guiding our structural modelling and interpretation and have provided us with some very interesting targets.

‘’The next stage of our field exploration activities starts next week with a significantly expanded soil sampling campaign to be followed up in September with first phase aircore drilling of circa 50 holes.

‘’This field work will further refine our understanding of the mineralising system and will help us locate the most attractive prospective zones for October’s planned second phase deeper reverse circulation drilling campaign.”

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.