There are up to 40 holes planned at Section 36, which is adjacent to and along strike from GTI’s Jeffrey and Rats Nest projects.
The drilling is expected to be complete next week and results are expected during July.
Investors responded positively and shares were more than 18% higher to A$0.026.
Low-cost rapid exploration advancements
Recent downhole geophysical logging and geological mapping have generated drilling targets and the company is targeting a maximum depth of around 20 metres with the drilling.
This will be focused on the exploration target areas and in proximity to the principal existing underground mines – the East and West mines.
The initial downhole gamma uranium assay results are expected to be available in July while chemical assays including vanadium assays are expected to arrive in August.
Further drilling is planned after the assay results with the aim of establishing a JORC-compliant uranium mineral resource in Section 36 and other areas within the Henry Mountains Project.
GTI has also concluded a second stage geophysical logging of 39 additional historical small diameter drill holes this week.
The shallow nature of the mineralisation is expected to allow continued low-cost rapid exploration advancements.
GTI Resources holds 1,500 hectares of land in the Henry Mountains region of Utah which has historically been the most important uranium resource of the US.
This region is part of the mineral-rich ‘Colorado Plateau uranium province’ which has produced 17.5 tonnes at 2,400 ppm U3O8 and 12,500 ppm vanadium pentoxide.
- Ephrems Joseph