GTI Resources Reports Encouraging June Quarter 2020 Results

  • Jul 27, 2020 AEST
  • Team Kalkine

Exploring highly prospective uranium and vanadium properties in the Henry Mountains, Utah, GTI Resources Limited (ASX:GTR) announced its June quarter 2020 results with the below highlights-

  • Received positive results from recently completed sampling program conducted on outcrop and underground workings at the Rats Nest project
  • Completed maiden drill program at the Jeffrey Project, wherein it achieved drilling and down-hole gamma logging of targeted 12 diamond core drill holes to test the extent of shallow uranium and vanadium mineralisation across the southern portion. Next exploration phase may entail a relatively larger drill program, targeting potential development of a JORC code compliant mineral resource, and would inform future production studies.
  • Continued to progress the grant of new prospecting licence applications (P40/1506, P40/1515, P40/1516 and P40/1517) at the Niagara Gold Project.
  • Undertook airborne magnetic survey over the Niagara Project that aimed to follow up anomalous soil sampling results, while final magnetic data is expected to be available within the next two weeks.
  • Mr Matthew Foy was appointed as Company Secretary, Mr Murray McDonald resigned as Director, whereas Mr Petar Tomasevic was appointed as Non-Executive Director

Subsequent to the quarter, GTR entered into a binding agreement to acquire 100% of two mineral leases from Anfield Energy Inc. On financial front, the completed a placement to raise $1,811,289 before costs and is also undertaking a SPP.

GTR quoted $ 0.030 at 12:07 PM AEST on 27 July 2020.


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