GTI Resources Ltd to resume ground preparation as it prepares for drilling at the Thor ISR uranium project in Wyoming

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“Drilling results so far show that there is a highly mineralized uranium system at Thor with development potential,” said executive director Bruce Lane.

GTI Resources Ltd (ASX:GTR) is set to launch its 2022 work program at the Thor ISR uranium project in Wyoming, US, as it prepares to complete the approximately 60 remaining holes of a planned inaugural drill program of 100 holes.

Field reconnaissance is due to begin next week with the mobilization of two rotary mud drills, weather permitting, to finalize the 15,000 meter drilling campaign.

Strong economic potential

The company is confident in the strong economic potential of the project, with results to date confirming the discovery of significant uranium mineralization in the region.

The mineralization shows characteristics conducive to ISR recovery and compares favorably to the nearby 18 million pound Lost Creek producing deposit.

These final 60 holes of the drill program will complete testing of the newly discovered mineralized system at Thor.

“Drilling results so far show that there is a highly mineralized uranium system at Thor with development potential,” said executive director Bruce Lane.

Comparable to neighboring deposit

“The grade and thickness of mineralization encountered in 19 of the first 39 holes appears to be comparable to our neighbor UR Energy’s 18 million pound production deposit at Lost Creek,” Lane said.

“We look forward to resuming drilling in the coming weeks as the outlook for 2022 remains very positive for uranium.”

GTI’s 2021 drill results from 39 holes at Thor compare favorably to other ISR projects in Wyoming, which are reporting an average GT, such as Peninsula Energy Ltd’s Lance project (ASX:PEN, OTCQB:PENMF), which yields an average GT of 0.46.3.

Final results, conclusions and recommendations for next steps will be developed at the end of the drilling program.

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