- GTI Resources (GTR) is set to acquire two Utah mineral leases from Anfield Energy following the completion of due diligence
- The acquisition will expand its Jeffrey and Rats Nest project areas into one contiguous claim covering 5.5 kilometres along the interpreted uranium and vanadium mineralised trend
- GTI acquired a raft of data as part of its due diligence for the Anfield leases and exploration planning strategy for the Henry Mountains project areas
- So far, the data has reaffirmed GTI’s interpretation of local mineralised trends, and validated the Anfield acquisitions
- The company will acquire the Anfield leases within the three-month period laid out in the term sheet, while fieldwork and exploration planning continues
- GTI Resources is trading 3.7 per cent higher at 2.8 cents
GTI Resources (GTR) is set to acquire two Utah mineral leases from Anfield Energy following the completion of due diligence.
The company will purchase the two tenements to expand its Jeffrey and Rats Nest project areas into one contiguous claim area covering 5.5 kilometres along the interpreted strike of the uranium and vanadium mineralised trend.
Positive data
GTI acquired a raft of data as part of its due diligence and exploration planning strategy for the Henry Mountains project areas.
The acquired data package covered the Anfield lease areas, Jeffrey and Rats Nest, and the Moki project area around 30 kilometres to the south.
The Moki dataset is of particular interest as it contains an evaluation report and significant drilling data for the project area, which sits next to the Tony M Mine owned by Energy Fuels.
The data attained for the Jeffrey, Rats Nest and Anfield lease areas has assisted not only in the acquisition due diligence, but also in planning for future exploration. The review incorporated drill hole logs and maps, resource maps, assay reports and project-level exploration and evaluation reports, and the contained information is being confirmed by field checks across the Henry Mountains tenements.
So far, the data has reaffirmed GTI’s interpretation of local mineralised trends, and validated the Anfield acquisitions.
Next steps
The Anfield leases contain historical underground production workings prospective for uranium and vanadium. Recent sampling yielded in‐field XRF measurements of up to 81,745 parts per million (ppm) uranium and 28,375ppm vanadium.
GTI is still waiting on results from reconnaissance drilling completed at Jeffrey in June. Early data suggests the existence of two mineralised sandstone units which remain open to the south on a trend continuing through one of the Anfield leases.
GTI is continuing to confirm the historical data via a field program of ground-truthing, underground mapping and channel sampling within the mineral leases, as well as potential geophysical logging of historical drill holes.
The data will be collated to plan the next phase of exploration drilling across the Henry Mountains project areas.
GTI will now move to acquire the Anfield leases within the three-month period laid out in the term sheet.
GTI Resources is trading 3.7 per cent higher at 2.8 cents as at 2:30 pm AEST.
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