An Australian uranium company exploring in southwest Wyoming on Monday reported finding what appear to be uranium deposits covering several miles in the Great Divide Basin.
GTI Resources, which just completed a round of exploratory drilling in the Great Divide Basin, posted to its Twitter account Monday a map featuring “roll front trend,” or uranium deposits its drilling revealed.
The post notes 17,640 feet — about 3.3 miles — “of mineralized roll fronts found,” with 80% of the project area still to be tested.
A follow-up drilling process is planned.
GTI’s 100-hole probe known as the Thor project, in northwestern Sweetwater County, began late November 2021 and was completed on schedule in mid-March despite seasonal wildlife restrictions pertaining to sage grouse.
GTI announced earlier this month that it had found a likely source of raw uranium or “yellowcake” through its exploration. The company told Cowboy State Daily at the time that it planned to announce by mid-April just how much uranium the area might contain.
Colorado Company Gearing Up
GTI’s properties roughly surround the Lost Creek project, which is the domain of Colorado company UR Energy.
UR Energy reported that its own exploration indicated the presence of 11.9 million pounds of uranium, with another 6.6 million pounds “inferred” by the exploration.
The report, noted UR Energy in a separate caveat, is speculative.
UR Energy secured an additional six mine units on the Lost Creek license in 2021, bringing the total to nine. According to its company website, UR Energy expects to have permits and authorizations for production completed sometime this year – along with an increase in its maximum extraction allowance.
“As we await the return of a robust uranium market, we have prepared (a mining unit) and the Lost Creek plant for an efficient transition to full production rates,” the website said.
