GTI Resources logs historic uranium holes and plans surface drilling in July at Henry Mountains Project in US

GTI Resources Ltd (ASX:GTR) has logged historic uranium results from the Henry Mountains Uranium & Vanadium Project in Utah, USA, ahead of a surface drilling program scheduled for July.

Initial uranium exploration of Section 36 has been completed including geological mapping, mapping of all existing underground adits and geophysical downhole logging of 56 existing shallow drill holes. 

Gamma assay results show that more than half of the holes demonstrated trace uranium mineralisation to a maximum depth of 61 feet.

Holes 36-14 contained 4.5 feet (1.5 metres) from 41 feet at a grade of 0.19% uranium (1,900 ppm) and within this zone, the best interval was 3 feet (1-metre) at a grade of 0.26% uranium (2,600 ppm).

Consistent with past mines

The thickness and grade of uranium mineralisation is consistent with that observed in the region’s past-producing mines that produced in excess of 17.5 million tonnes at 2,400ppm U3O8 (92 million pounds U3O8) and 12,500 ppm vanadium pentoxide (482 million pounds of V2O5). 

Using this information, a surface drilling program is planned of up to 40 holes and the geophysical logging of an additional 39 existing small diameter drill holes.

Drilling is planned for July pending approvals and confirmation of contractor availability.

The company is also targeting the development of a JORC-compliant uranium mineral resource for Section 36 and other areas within the Henry Mountains Project.

Niagara Gold Project

At the Niagara Gold Project in Western Australia, GTI has received approval for a program of works to conduct drilling at newly granted prospecting licences such as P40/1515, P40/1516, P40/1517 and P40/1506 and the recently acquired P40/1513 and P40/1518.

Exploration drilling is approved for areas within the contiguous land package over around 5 kilometres of mineralised trend over an area of extensive historic mine workings.

The company is reviewing options for exploration and development of the highly prospective project and continues to evaluate opportunities to expand its uranium exploration ground position.

Story by ProactiveInvestors