GTI Resources Ltd To Start Drilling For Uranium In Utah Within One Month
The state of Utah has approved the second phase of the company’s uranium exploration program, which includes surface drilling of up to 40 holes.
() will begin drilling for uranium on its Henry Mountains Uranium & Vanadium project in Utah as of the end of June, after state approval.
The second phase of uranium exploration in Section 36 of the project involves surface drilling of up to 40 holes, as well as geophysical logging of 39 other existing small diameter drill holes.
The approval follows initial exploration for Section 36 uranium in May, which included geological mapping, mapping of all existing underground galleries and downhole geophysical logging of 56 existing shallow drill holes.
What does the second phase consist of?
The drill targets identified in the first phase were generated using information gathered from the downhole geophysical logging program and geological mapping.
The second phase of exploration includes surface drilling of exploration target areas and near the main existing underground mines, the East and West mines.
In addition, GTI will perform a second stage of downhole geophysical logging of 39 other existing small diameter drill holes in the exploration target areas.
Section 36 of the Henry Mountains Project in Utah.
GTI hopes to develop and release a uranium mineral resource for Section 36 and other areas within the larger Henry Mountains project.
The company owns approximately 1,500 hectares of land in the Henry Mountains region of Utah, part of the prolific Colorado Plateau uranium province, once the largest uranium resource in the United States.
Sandstone ores have been mined in the area since 1904 and the area has historically produced over 17.5 million tonnes at 2,400 ppm uranium oxide and 12,500 ppm vanadium oxide.
Shares are over 9% higher in early trades at $ 0.024A.