GTI Energy Ltd (ASX:GTR) continues the hunt for uranium at the Thor prospect, where it’s executing a comprehensive exploration campaign as it drills down into Wyoming’s Great Divide Basin.
Two mud rotary drill rigs have completed the first 40 holes covering 20,370 feet in the 70-hole, 40,000-foot program, meaning GTI is more than halfway through the campaign.
It’s still early days, but a new and strongly mineralised trend has been encountered within state lease Section 29, boosting confidence as the broader 100,000-foot program moves ahead.
“Real potential” for economic ISR deposit
GTI Energy executive director Bruce Lane said results from the first 40 holes had been better than expected.
“In particular, the new and strongly mineralised trend encountered within our Section 29 state lease shows that there is real potential for an economic in-situ recovery (ISR) deposit at the project,” he explained.
“The mineralisation identified continues to demonstrate real potential for ISR development as we extend our understanding of the roll fronts and work towards a resource report next year.
“We look forward to continuing exploration over the coming weeks and months.”
Technical detail
Typically speaking, economically viable ISR grade and grade thickness (GT) cut-offs clock in at 0.02% (200 parts per million) triuranium octoxide and 0.2 GT.
GTI’s best hole to date covered 71.5 feet and averaged 0.034% triuranium octoxide, ranging between 0.021% and 0.142%.
What’s more, the mineralisation is conducive to ISR recovery, with water table between 100 and 200 feet above host sands.
GTI has found 4,593 feet of new roll front trends to date, bringing its total to 22,233 feet.
Of the 40 holes drilled to date, GTI understands:
- 20 have met both the grade and grade thickness cutoff with an average of 0.73 GT; and
- 11 have met the grade cutoff but not GT;
Five holes are known to host trace minerals and four were barren.