GTI Resources starts second round of uranium exploration drilling
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GTI Resources Ltd (ASX:GTR) has started uranium drilling on Section 36 of its Henry Mountains Uranium & Vanadium Project in Utah, USA.
The company flagged this second phase of uranium exploration after it received approval from the state of Utah to go ahead.
GTI has approximately 1,500 hectares of landholdings in the Henry Mountains within Garfield and Wayne Counties and the region forms part of the prolific Colorado Plateau uranium province which historically provided the most important uranium resources in the US.
Sandstone hosted ores have been mined in the region since 1904 and the mining region has historically produced in excess of 17.5 million tonnes at 2,400ppm U3O8 (92 mlbs U3O8) and 12,500 ppm V2O5 (482 mlbs V2O5).
Through this next phase of exploration drilling, GTR will look to drill up to 40 holes using the all‐terrain Buggy Drill Rig:
Section 36 is adjacent to and along strike from GTR’s Jeffrey and Rats Nest Projects as seen below:
Drilling targets have been generated using information gathered from the recent downhole geophysical logging program and geologic mapping.
GTR is targeting a maximum depth of around 66 feet (20 metres).
Drilling is focused on the exploration target areas shown in Figure 3 and in proximity to the principal existing underground mines, the East and West mines.
Initial downhole gamma eU3O8 assay results are expected to be available during July with chemical assays including vanadium assays expected in August.
GTR has also concluded a second stage of downhole geophysical logging of 39 additional historical small diameter drillholes within the exploration target areas shown above.
Pending results of the planned drilling campaign, GTR will target further drilling towards development of a JORC code compliant uranium mineral resource for Section 36 and other areas within the Henry Mountain Uranium and Vanadium Project.
GTR believes that the shallow nature of the mineralisation supports continued low‐cost, rapid exploration advancements.
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