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    GTR   AU000000GTR4

GTI RESOURCES LIMITED

(GTR)
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GTI Resources : Positive Start to Wyoming Uranium Drilling

12/05/2021 | 05:52pm EST

For personal use only

6th December 2021

ASX: GTR

POSITIVE START TO WYOMING URANIUM DRILLING

BEST HOLE INTERSECTS 27.5ft @ 0.044% eU308 FOR 1.92GT

Highlights:

  • First 10 holes completed of the 50,000ft (~15,000m) ~100‐hole maiden drill program
  • Encouraging results with mineralisation meeting expectations for economic ISR recovery
  • Best holes to date of 27.5ft at 0.44% (440ppm) eU308 for a Grade Thickness (GT) of 1.92 & 23ft at 0.63% (630ppm) eU308 for GT of 1.741
  • 5 out of 10 holes met both grade and GT cutoff for an average GT of 0.99GT
  • Mineralisation appears conducive to ISR recovery with water table 100ft above host sand
  • At least three separate roll fronts are present in the main host sand unit with additional sands positioned above & below the main sand unit showing trace mineralisation.

GTI Resources Ltd (GTI or Company) is pleased to advise that 2 mud rotary drill rigs have now completed the first 10 holes of its 50,000‐foot (~15,000 metre) ~100‐hole maiden drill program within exploration area 1 (Exp area 1) at the Thor ISR uranium project in Wyoming's Great Divide basin (Figure 1).

Figure 1. Thor Project Uranium Drilling Location Map, Great Divide Basin, Wyoming USA.

  • Typical economically viable ISR grade & GT cut‐offs are: 0.02% (200ppm) U3O8 & 0.2GT i.e., 10 ft (3 m) @ .02% (200ppm) U3O8

Level 1/89 St Georges Terrace, Perth, WA 6000. Phone: +61 (0) 8 9226 2011, email: info@gtiresources.com.au web: www.gtiresources.com.au

Page 1 of 11

Figure 2. Mud Rotary Drill Rigs (x2), Ancillary Equipment and Support Vehicles at the Thor Project.

For personal use only

Level 1/89 St Georges Terrace, Perth, WA 6000. Phone: +61 (0) 8 9226 2011, email: info@gtiresources.com.au, web: www.gtiresources.com.au

Page 2 of 11

For personal use only

The initial 10 drill holes at the Thor Project were completed for a total of 5,019 feet (1,530 metres) within Exp area 1 (Figures 1 & 4). Typical economically viable ISR grade and GT cut‐offs are: 0.02% (200ppm) U3O8 and 0.2GT ‐‐ i.e., 10 ft (3 m) @ .02% (200ppm) U3O8. The 10 initial hole results were (Table 1):

  • 5 of 10 holes met both grade and GT cutoff with an average of 0.99GT
  • Of the remaining 5 holes 3 met grade cutoff but not GT, 1 had trace mineralisation & 1 was barren

Table 1. Thor Drilling Preliminary Results

These results are very encouraging, and the mineralisation encountered meets expectations for economic ISR uranium recovery. Drilling to date has confirmed that the historic data is an excellent guide for drilling2. Drilling has also shown that the geological and hydrogeological setting of the mineralisation appears to be conducive to ISR recovery with the main host sand appearing to be continuous in the area and the water table being over 100 feet above the main host sand.

Figure 3. Drill Samples at the Thor ISR Uranium Project.

  • It should be noted that the drilling commenced in one of the areas with better historic data and that the positive drilling success rate may not be replicated as the Company proceeds into other areas with less comprehensive historical data.

Level 1/89 St Georges Terrace, Perth, WA 6000. Phone: +61 (0) 8 9226 2011, email: info@gtiresources.com.au, web: www.gtiresources.com.au

Page 3 of 11

Figure 4. Thor Project Uranium Drilling Location Map, Great Divide Basin, Wyoming USA.

For personal use only

Drilling confirmed at least three separate roll fronts are present in the main host sand with additional sands positioned above and below the main sand unit showing at least trace mineralisation.

GTI's exploration objective is to identify REDOX boundaries and potential host sands in addition to defining the depth, thickness, grade and width of mineralisation across the REDOX front. The Company is targeting mineralisation which is at least 50 feet (15 meters) below the water table. The drill program may ultimately also enable estimation of inferred mineral resources and/or an exploration target.

GTI hopes to encounter mineralisation of similar tenor to that encountered at the nearby Lost Creek deposit and that otherwise meets typical economic cutoff criteria for sandstone hosted ISR uranium projects in Wyoming's Great Divide Basin e.g.:

  • Grade greater than 0.02% (200 ppm) U3O8
  • Grade x Thickness (GT) greater than 0.2 (10 ft @ 0.02 ‐ 3 metres @ 200ppm U3O8)
  • Width of mineralisation above cutoff nominal 50 feet (15 metres) and nominal GT of 0.4

UR Energy's Lost Creek ISR uranium deposit (Figure 1) is reported to contain a remaining 13Mlbs of U3O8 at average grade of 0.048% eU3O8 (Measured and Indicated) at a cutoff Grade Thickness (GT) of 0.2.3

The drilling is progressing well and is expected to take less than 30 operational days in total to complete allowing for weather, which has been favourable to date, and the Christmas break. The Company expects that the program will be concluded in early 2022 if weather conditions remain favourable. Further drilling results are expected to be available in the coming weeks. Final results, conclusions and recommendations for next steps will be developed at end of drill program during 2022.

‐Ends‐

This ASX release was authorised for release by the Directors of GTI Resources Ltd. Bruce Lane, (Executive Director), GTI Resources Ltd

Level 1/89 St Georges Terrace, Perth, WA 6000. Phone: +61 (0) 8 9226 2011, email: info@gtiresources.com.au, web: www.gtiresources.com.au

Page 4 of 11

For personal use only

Drill Collar Information

Hole ID

Coordinates (Northing, Easting)

Elevation (ft)

BR‐1001

107.6251015547,42.0890548662

6873.86

BR‐1002

107.6254199081,42.0892066907,2099.66

6888.63

BR ‐ 1003

107.6258066366,42.0894079077

6884.09

BR ‐ 1004

107.6261828799,42.0895925592

6886.52

BR‐1005

107.6257158977,42.088921223,2098.154

6883.69

BR‐1006

107.6242940705,42.0926740981

6897.49

BR‐1007

107.6247348601,42.0931038252

6891.21

BR‐1008

107.6251282725,42.0934402246

6903

BR‐1009

107.6256337815,42.0939136711

6906

BR‐1013

107.6275635919,42.0956299147

6910

Note: All holes were drilled vertically

Level 1/89 St Georges Terrace, Perth, WA 6000. Phone: +61 (0) 8 9226 2011, email: info@gtiresources.com.au, web: www.gtiresources.com.au

Page 5 of 11

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

GTI Resources Limited published this content on 05 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 December 2021 22:51:01 UTC.


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