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GTI Energy identifies new roll front trends as Wyoming ISR uranium drilling continues at pace

Published: 19:02 11 Dec 2022 EST

GTI Energy Ltd - GTI Energy identifies new roll front trends as Wyoming ISR uranium drilling continues at pace
Mud rotary drill rigs operating at the Odin ISR uranium prospect in the Great Divide Basin.

GTI Energy Ltd (ASX:GTR) is maintaining a rapid pace of exploration at its ISR uranium projects in the Great Divide Basin of Wyoming with new roll front trends identified in drilling at the Teebo and Odin prospects.

Four drill rigs are in operation with two working at Loki prospect and two more operating at Teebo with 18 of the latest 22 drill holes in a planned 65-hole program encountering uranium mineralisation.

Drilling of 70 holes was previously completed at the Thor prospect and 16 holes have been completed at the Odin prospect.

In prolific uranium area

At Teebo prospect, drilling is around 50% completed with six holes drilled to date while drilling at Loki prospect started at the end of last week.

Odin & Teebo are adjacent to Uranium Energy Corp’s Antelope Project while Loki sits south of Antelope and north of URE’s Lost Creek.

Shares higher

Executive director Bruce Lane said: “This round of exploration drilling at Odin and Teebo confirmed our hypothesis by identifying additional roll front uranium mineralisation at viable ISR depths.

“It is particularly pleasing to see such strong results at Teebo at this interim stage of the program.”

Investors have welcomed the update with shares as much as 20% higher in the first hour of trading to A$0.012.

ISR uranium projects in the Great Divide Basin of Wyoming and GTI Energy's planned exploration drilling areas.

Drilling continues

Drilling of up to 45 holes for around 42,500 feet combined across all three prospects is exploring about 5 miles of mineralised trends interpreted from historic information also used at Thor.

A further 20 holes are planned, weather permitting, at Wicket East prospect on the southern boundary of Ur-Energy’s Lost Soldier deposit.

Drilling of 16 holes at Odin has progressed to completion and drilling at Teebo is now partially completed with six of 12 holes finalised.

“Drilling is planned to continue up until the Christmas break, weather permitting, with further updates provided in due course,” Lane said.

Drilling is targeting confirmation of historically identified mineralisation and extensions of known roll front trends and has encountered uranium mineralisation at Odin and Teebo.

Encouraging results at Teebo

Results at Teebo are particularly encouraging where four of six holes drilled to date met or exceeded cut-off for grade & grade thickness (GT).

There were 22 holes completed at Odin & Teebo for a total to date of 19,510 feet (5,947 metres) of drilling.

The drilling confirmed GTI’s exploration hypothesis that roll front trends are present in the targeted locations and that mineralisation is below the water table at potentially viable depths for ISR mining.

Initial results for 22 holes are observed:

  • 18 holes encountered uranium mineralisation below the water table;
  • 4 holes met both grade & GT cut-off with an average of 0.47 GT – 2.35 x the target cut-off; and
  • 7 of the remaining holes met grade cutoff but not GT, 7 had trace mineral & 4 were barren.

The interim results are positive, particularly with mineralisation encountered at Teebo meeting expectations for potentially economic ISR uranium recovery.

Drilling to date has confirmed GTI’s exploration hypothesis and that the historic data continues to be a very useful guide for drilling.

Drilling has also shown that the geological and hydrogeological setting of the mineralisation encountered to date at Odin and Teebo appears to be conducive to ISR recovery with the main host sand appearing to be continuous and below the water table.

Campaign summary

This season’s drilling campaign has so far discovered an additional 7,974 feet of mineralised roll front trends within GTI’s Thor project for a now enlarged total of 25,614 feet (4.85 miles).

The company expects that the balance of the program will be concluded by the end of 2022 if weather conditions remain favourable or in early 2023.

Further drilling results will be available in the coming weeks with final results, conclusions & recommendations for next steps to be developed during early 2023.

Green Mountain plans

At the nearby Green Mountain project work has progressed with preliminary drill targets selected and prioritised based on historical drilling information, ground truthing, flora & fauna and archaeological reviews.

The permitting process has started to facilitate drilling in high-priority areas during the upcoming summer of 2023.

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