Special Report: GTI has received further evidence of the prospectivity of its Rats Nest project in Utah with sampling returning high-grade uranium and vanadium.
Assays on the sampling program conducted on outcrop and underground workings at the project in the Henry Mountains region returned up to 0.87 per cent U3O8 and 1.07 per cent vanadium pentoxide.
GTI Resources (ASX:GTR) says the results confirm the prospectivity for high-grade uranium and vanadium at its projects in the region.
Its maiden drilling program at the Jeffrey project is poised to start Tuesday June 16.
This program is expected to be completed within seven to 10 days and will consist of 12 shallow holes with an average depth of 20m.
“The Rats Nest results further confirm the prospectivity of these past producing project areas and give us further encouragement to extend our exploration activities beyond the Jeffrey claim group to include the Rats Nest project area,” executive director Bruce Lane said.
Rats Nest and Jeffrey are two of eight projects that the company picked up from its acquisition of Voyager Energy in September 2019.
These projects are located in the Henry Mountains mining district — a region which has already produced 92 million pounds of uranium and 482 million pounds of vanadium.
As a result, the region benefits from well-established infrastructure and a mature mining industry that provides low-cost experienced personnel and equipment.
This includes Energy Fuels’ White Mesa mill, the only fully licensed and operational conventional uranium/vanadium mill in the US, which is within trucking distance of the properties.
Uranium and vanadium potential has already been established at the Jeffrey project with gamma testing of historical open drill holes at two locations within the project area returning multiple zones of mineralisation.
This test work also confirmed that mineralisation extends beyond surface ‘outcrop’ and existing underground developments.
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