GTi Energy (ASX:GTR) shows development signs at Thor ISR

GTI Energy has flagged critical mass potential following its best hole to date, averaging 0.034 per cent uranium U3O8 over 6,209 meters at its Thor ISR Uranium Project in the US state of Wyoming.

Mud rotary drill rigs have completed the first 40 holes of its planned 100,000-foot drill program at the Project located in the prolific Great Divide Basin.

The range 0.021%-0.142% eU3O8 has exceeded expectations, recording a total hole GT of 2.55 and mineralised depths between about 87m and 150m.

The Company said the mineralisation is conducive to ISR recovery with the water table above the host sands.

“Results from the first 40 holes have been better than expected. In particular the new and strongly mineralised trend encountered within our Section 29 state lease shows that there is real potential for an economic ISR deposit at the project,” Executive Director Bruce Lane said.

“The mineralisation identified continues to demonstrate real potential for ISR development as we extend our understanding of the roll fronts and work towards a resource report next year.

“We look forward to continuing exploration over the coming weeks and months.”

Price Action

The Company’s ASX-listed shares are 1.6 in early morning trade.