Uniquely Positioned For US Uranium Demand & The WA Gold Boom
Investor Presentation: GTI Resources September 2020
This week, Stockhead heard from Bruce Lane, executive director of GTI Resources (ASX:GTR). GTI commenced a significantly expanded 1,000-hole soil sampling program through auger drilling, at its Niagara (Kookynie) Gold Project in Western Australia.
Also the company recently completed analysis of historical data covering leases being acquired from Anfield and existing Jeffrey, Rats Nest and Moki Project areas in the Henry Mountains, Utah, USA.
GTI Resources upbeat as it kicks off aircore drilling program at Niagara gold project
Rob Holm, senior consultant with CSA Global, speaks with Proactive Australia’s Andrew Scott following the news GTI Resources Ltd (ASX:GTR) has started an initial aircore drilling program at Niagara Gold Project near Kookynie in WA.
CSA Global’s managing the project and Holm says a 60-hole program of drilling is underway which is expected to be completed by early October.
Uranium & Vanadium Properties in Utah, USA
- Acquisition of Anfield leases joins Jeffery & Rats Nest projects into much larger contiguous tract covering 5.5km along the interpreted strike of the mineralised trend.
- Analysis completed of historical data covering leases being acquired from Anfield Energy Inc. & existing Jeffrey, Rats Nest & Moki Project areas in the Henry Mountains Utah, USA.
- The data package contains over 750 drill holes, including 362 drill holes within the now expanded Jeffrey/Rats Nest Project, and 107 drill holes within the Moki Project.
- June 2020 drilling assays from Jeffrey Project received, delivering vanadium assay results up to 41,055 ppm (4.11%) V2O5 and confirming gamma logging results up to 7,642 ppm (0.76%) U3O8.
- Preparation for future exploration activity is progressing with evaluation and prioritisation of the numerous newly identified drill targets advancing.
Accelerating Highly Prospective and Underexplored WA Gold Project
- 52 Aircore holes completed September 2020
- Gold anomalism confirmed
- RC drilling is now planned for December 2020.
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GTI Resources Ltd’s (ASX:GTR) assay results from recently completed first pass shallow aircore drilling program at Niagara Gold Project, southwest of Kookynie in Western Australia, has confirmed gold anomalism of up to 2.78 g/t.
These results will contribute to the development of the overall exploration model, with targets to be tested by reverse circulation (RC) drilling now planned for early December to allow for multi‐element assay geochemistry analysis to be factored into drill targeting.
A total of 52 holes to an average depth of 45 metres for 2,553 metres of shallow aircore drilling was carried out over the eastern part of E40/342 and initially analysed for gold by ALS laboratories, together with an additional 229 QAQC (blanks, duplicates and standards) samples.
GTI Resources Ltd (ASX:GTI) has completed the acquisition of two mineral leases from Anfield Energy Inc in Utah, USA, that are highly prospective for uranium and vanadium with fieldwork underway to determine prioritised targets for drilling within the expanded project area.
While the company has initiated the permitting process at these leases, GTI plans to leverage extensive underground workings across the project area to study the controls and distribution of ore-grade mineralisation through refined mapping and sampling.
The acquired data, which contains valuable information regarding the Jeffrey, Rats Nest and Moki claim groups, has allowed GTI to rapidly advance the evaluation of held ground and facilitate much greater refinement of drill targets.
Drilling has intersected quartz in numerous drill holes with occasional pyrite with assay results expected in mid-October and an RC drill program scheduled to commence in late October.
GTI Resources Ltd (ASX:GTR) has received encouraging indications from recent aircore drilling at Niagara Gold Project in Western Australia with quartz veining intersected in a number of drill holes at predicted positions.
Drilling was concluded ahead of schedule and without incident with 52 holes completed at an average depth of 45 metres for a total of 2,321 metres.
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GTI Resources Ltd
89 St Georges Terrace,
Perth, WA 6000
PO Box Z5187
Perth WA 6831
+61 (0) 8 9226 2011