Australian mineral explorer GTI Resources Limited (ASX:GTR) has 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.
The data review, digitisation, and ground- truthing of the acquired historical data has reinforced and established the Company’s initial interpretations of the expanded Jeffery/Rats Nest Project area. It has further validated the prospectivity of other land held by the Company within the Henry Mountains uranium district.
- The data package contains more than 750 drill holes, including 362 drill holes within the now expanded Jeffrey/Rats Nest Project, and 107 drill holes within the Moki Project.
- Additionally, the acquired historical data includes data from more than 253 drill holes outside of the Company’s current land position.
- It represents a replication value at present-day cost in excess of $10 million.
- The acquisition of the historical data has revealed a number of new exploration targets that warrant follow-up and further work, including drill testing.
- This data is of particular interest due to property’s position immediately east of the Tony M Mine, indicating an extension of mineralised trend that requires further exploration.
Besides, the Company has received June 2020 drilling assays from Jeffrey Project that delivered vanadium assay results up to 41,055 ppm (4.11%) V2O5. They also confirmed gamma logging results up to 7,642 ppm (0.76%) U3O8.
Preparation for future exploration activity is progressing with evaluation and prioritisation of newly identified drill targets advancing.
GTR quoted $ 0.03, up 3.45 % mid-day on 31 August 2020.