Link copied to
Drilling of up to 40 holes targeting uranium mineralisation has started at GTI’s Section 36 project within the broader Henry Mountains project in Utah.
The drilling, which is adjacent and along strike from the company’s Jeffrey and Rats Nest projects, is focused on an area close to existing underground East and West mines.
GTI Resources (ASX:GTR) notes that the shallow targets were generated using information gathered from the recent downhole geophysical logging program and geologic mapping.
Initial downhole gamma results are expected to be available next month while more detailed chemical assays that include vanadium results are expected in August.
The company has also concluded a second stage of downhole geophysical logging of 39 additional historical small diameter drillholes within the exploration target area.
Pending results from drilling, GTI intends to carry out further drilling to develop a JORC resource for Section 36 and other areas within the Henry Mountains uranium and vanadium project.
GTI has about 1,500 hectares of land holdings in the Henry Mountains region of Utah within the prolific Colorado Plateau uranium province that had historical production of over 92 million pounds of uranium and 482 million pounds of vanadium.
Its work comes amidst growing interest in uranium with the Australian government seeing spot price rise to US$52.40 a pound in 2026, well above current prices that are hovering just below US$40 a pound.
This article was developed in collaboration with GTI Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.