In August 2021 Finfeed changed from a website that covered ASX listed news to a website
that covered a select range of ASX
listed small cap Biotech stocks that we are personally invested in: find out more.
The old Finfeed website, and all of the old articles are kept here for record keeping purposes.VISIT NEW SITE
GTI Resources planning for second phase of uranium exploration
2 minute read
GTI Resources Ltd (ASX:GTR) has received approval from the state of Utah for the second phase of uranium exploration on Section 36, part of the company’s overall Henry Mountains Uranium-Vanadium Project in that state.
The first phase of exploration of Section 36 which is adjacent to and along strike from GTI’s Jeffrey Project was completed during May including geological mapping, detailed mapping of all existing underground adits and an initial geophysical downhole logging program of 56 existing drill holes.
Drilling and second stage geophysical logging is planned for late June/early July.
The following shows the location of the drillholes logged during phase one relative to historic mining and the mapped outcropping of the host formation.
Drilling targets have been generated using information gathered from the recent downhole geophysical logging program and geologic mapping.
These targets are located within the exploration areas shown above.
The planned second phase exploration includes surface drilling of the exploration target areas and in proximity to the principal existing underground mines, the East and West mines.
GTI will also conduct a second stage of downhole geophysical logging of an additional 39 existing small diameter drillholes within the exploration target areas as shown below.
Pending results of the planned drilling campaign, management is targeting development of a JORC code compliant uranium mineral resource for Section 36 and other areas within the Henry Mountain Uranium and Vanadium Project.
The shallow nature of the mineralisation supports the continuation of a low-cost rapid exploration program.
GTI has approximately 1,500 hectares of landholdings in the Henry Mountains region of Utah within Garfield and Wayne Counties.
The region forms part of the prolific Colorado Plateau uranium province which historically provided the most important uranium resources in the US.
Sandstone hosted ores have been mined in the region since 1904 and the mining region has historically produced in excess of 17.5 million tonnes at 2,400ppm U3O8 (92 mlbs U3O8) and 12,500 ppm V2O5 (482 mlbs V2O5).