GTI Resources Limited (ASX:GTR) has completed the acquisition of two past producing Utah State mineral leases in the Henry Mountains Utah, from Anfield Energy Inc. The leases are highly prospective for near surface uranium and vanadium mineralisation.
The acquisition of leases materially extends the ownership of the Company by joining its Jeffrey and Rats Nest claim groups across a 5.5km contiguous interpreted mineralised trend. The Company also advised that the recent review of an acquired data package was targeted to support exploration activities on the leases.
GTI is developing the prioritised targets for a second phase of drilling in the newly expanded project area. The permitting process has been initiated.
GTI Resources (ASX:GTR) shares are trading 5% up at $0.021 on 28 October 2020 (1:18 PM AEST).