GTI Resources Initiates Auger Soil Sampling & Reconnaissance Mapping at Niagara (Kookynie) Gold Project

Summary

  • Excitement has been building in the historically underexplored Niagara Trend near Kookynie in WA’s highly prospective eastern goldfields, with explorers investing in significant exploration activities.
  • GTI Resources is engaged in the exploration and evaluation of mineral and energy resources and is currently focused on uranium and gold.
  • Strengthening its position in the Kookynie region in WA’s goldfields, GTI launched a significantly expanded 1,000-hole auger soil sampling program and reconnaissance mapping.
  • GTI is encouraged to see the correlations between the previous soil geochemistry results and the aeromagnetic signatures; and looks forward to refining its lithogeochemical interpretation and drill targeting in the coming weeks.
  • GTI is making progress at its Utah uranium and vanadium projects with the interpretation of historical data, while planning for the next stage of exploration underway.

GTI Resources Ltd (ASX:GTR) has commenced a significantly expanded 1,000-hole soil sampling program through auger drilling, at its Niagara (Kookynie) Gold Project in Western Australia, along with reconnaissance mapping.

This latest news from the listed mineral explorer propelled the uptick in GTI share price, soaring 3.45 % to $ 0.03 on 20 August 2020. GTI’s stock traded at $.029 mid-day on 31 August 2020. Besides, in the last six months, the stock has delivered notable return of 480 %.

MUST READ: GTI Resources Braces to Fast-track Exploration at Niagara (Kookynie) Gold Project

GTI commenced the phased exploration program at the Project earlier this month, including the maiden drilling campaign. Other recent advancements include receiving a data package from July’s airborne magnetic survey and securing additional gold ground on the Niagara Trend.

GTI is also making progress at Henry Mountains Projects in Utah with the review completion of the recently secured data package and entering binding agreements to acquire two mineral leases from Anfield.

Lens Through GTI’s Auger Soil Sampling Program

The expanded soil sampling program at Niagara (Kookynie) Gold Project began on 17 August 2020. The next stage of GTI Resources’ field program marks the ensuing step in the rapid evaluation of the potential for economic gold mineralisation across the newly consolidated and historically underexplored Niagara Trend near Kookynie in WA’s highly prospective eastern goldfields.

The 1,000- hole soil sampling campaign infills and extends the previous soil sampling program based on the previous multi-element lithogeochemical interpretation, combined with the recent Aeromagnetic survey.

GTI continues to rapidly evaluate the potential for economic gold mineralisation across Niagara Trend. In the meantime, gold remains in the vicinity of USD 2000 per ounce, while the Australian dollar fetches approximately USD 0.72. Subsequently, it seems probable that if GTI Resources’ could fast track production at Niagara it could prove to be highly beneficial.

GTI’s Exciting Pipeline in September & October

Geochemical results from the soil sampling program will be integrated into the existing lithogeochemical, geophysical and geological data sets. This is likely to guide the Company in targeting of the circa 50-hole first phase Aircore drilling campaign, which is planned for September.

“We will follow up the current work with first phase drilling of about 50 Aircore holes during September”, says Executive Director Bruce Lane.

GTI has also confirmed the second phase of drilling, due to commence during October. This reportedly would utilise targeted deeper reverse circulation (RC) drilling, to test the most attractive zones of interpreted gold mineralisation.

“The current field work combined with September’s planned Aircore drilling will further refine our understanding of the lithogeochemical and mineralising systems at Niagara and will help us locate the most prospective zones for October’s second phase deeper RC drilling campaign”, opines Mr Lane.

Niagara (Kookynie) Gold Project Overview

Source: GTR ASX Update

ALSO READ: Walk Through GTI Resources’ Splendid Journey in June 2020 Quarter


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