Commencement of field work imminentGTI has finalised exploration...

Commencement of field work imminent

GTI has finalised exploration permitting and management expects field work to start during March or April once weather allows.

The company will leverage the existing underground developments to aid in rapid advancement of the project.

Planned exploration activities will include geophysical logging of the numerous exploration drill holes to confirm prior exploration activities, and advancement of numerous underground core drill holes (horizontal drilling) to test continuity of mineralisation between open underground workings and distal historical exploration drill holes advanced from surface.

The results of this program will allow for study of the controls and distribution of grade material, as well as generating data for construction of a possible mineral resource, work that is planned for the June quarter of 2021, with a follow-up program in the September quarter based on results.

Additional small‐scale exploration and sampling activities will also be completed on an ongoing basis.

GTI aims to produce high-quality, low-cost data

GTI has continuously generated high‐quality, low‐cost data to enhance the company’s understanding of the potential of the expanded Jeffrey and Rats Nest project area over the past 12 months.

In addition, management continues to seek additional value accretive opportunities to expand its US portfolio.

GTI has engaged an experienced engineering firm with a history of uranium exploration, mining and land reclamation to conduct the 2021 exploration plan.

Commenting on these developments, executive director of GTI Bruce Lane said, “GTI is excited about the results of recent exploration activity on the newly acquired leases and sees real potential in the district for mine redevelopment and the production of high‐grade uranium and vanadium ores.

‘’We look forward to commencing our exploration program soon and will provide more details and results as work progresses.”

Indeed, GTI has numerous opportunities to work with given both the East Mine and the West Mine have identified ore-grade mineralisation along their full peripheral extents, indicating significant potential for mineral continuity beyond the current developments.

While shares in GTI have retraced slightly in 2021, they are still trading at a 300% premium relative to where they were 12 months ago.

Consequently, there appears to be a good degree of confidence in management’s exploration strategy in 2021, suggesting the recent pullback may represent an opportunistic entry point.