GTI Resources Ltd completes drilling of the Thor ISR uranium project in the United States

“The drilling campaign was completed on time and within budget and demonstrated the continuation of uranium mineralization first discovered in the eastern portion of the project area in late 2021,” said executive director Bruce Lane.

GTI Resources Ltd (ASX: GTR) has completed drilling a first 100-hole exploration campaign on the Thor ISR uranium project in Wyoming’s Great Divide Basin (GDB) in the United States.

GTI owns 100% of approximately 22,000 acres (approximately 8,900 hectares) spread across several groups of strategically located and under-explored mineral lode claims, as well as two state leases, potential for sandstone-hosted uranium that lends itself to low cost, low environmental impact SRI mining.

The inaugural drilling program of approximately 15,000 meters was completed on time and within budget at a time when the spot price of uranium is booming, having recently surpassed an 11-year high of US$60 per pound.

The results of the campaign are expected during the first half of April.

Further mineralization

“The drilling campaign was completed on time and within budget and demonstrated the continuation of uranium mineralization first discovered in the eastern portion of the project area in late 2021,” said executive director Bruce Lane.

“We look forward to providing a detailed analysis of the results in April, which we believe will help illustrate the potential of the project.

“Recent unrest in Kazakhstan and the ongoing conflict between Russia and Ukraine highlight the significant opportunity for US domestic uranium producers to once again support the US nuclear reactor fleet which requires approximately 50 million pounds of ‘U3O8 per year, none of which currently come from the United States.

“We believe the case for a rollback to secure US domestic supplies of yellow cake and enriched uranium to fuel US reactors has never been stronger.

“GTI’s goal is to define economically attractive uranium resources in Wyoming’s Great Divide Basin so that our shareholders benefit from the rebirth of the U.S. uranium industry. There has never been a better time to define ISR uranium resources in Wyoming.”

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