GTI Energy Increases Lo Herma Uranium Resource by 50% to 8.57 Million Pounds

December 11, 2024 06:58 PM PST | By Team Kalkine Media

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GTI Energy Increases Lo Herma Uranium Resource by 50% to 8.57 Million Pounds — Image source: shutterstock

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Highlights

GTI Energy boosts Lo Herma uranium resource to 8.57 million pounds.

Combined Wyoming projects' uranium resource now at 10.32 million pounds.

Scoping study for Lo Herma expected in the first half of 2025.

GTI Energy Ltd (ASX:GTR) has significantly increased the mineral resource estimate (MRE) at its Lo Herma Uranium Project in Wyoming’s Powder River Basin. The updated MRE now stands at 8.57 million pounds, marking a 50% increase. This enhancement brings GTI Energy's combined uranium MRE across its Wyoming projects, including the Great Divide Basin, to a total of 10.32 million pounds, with additional exploration targets identified.

Bruce Lane, Executive Director of GTI Energy, expressed his satisfaction with the substantial uplift in Lo Herma’s uranium resource. "We are delighted with the major uplift in Lo Herma’s uranium resource, now 50% larger at 8.57 million pounds," Lane stated. He highlighted that this milestone positions Lo Herma favorably in comparison to nearby projects such as Ur-Energy’s 8.8-million-pound Shirley Basin ISR build and Encore Energy’s 8.1-million-pound Gas Hills ISR project.

Lane also noted that over 30% of Lo Herma’s resource has been upgraded to the indicated classification, with an expanded exploration target suggesting even greater potential for growth. The project's proximity to several major ISR production facilities within 60 miles enhances its prospects for transitioning into production.

GTI Energy's immediate focus is on completing a scoping study for Lo Herma in the first half of 2025. This significant resource upgrade, coupled with the promising exploration target, reinforces the company's belief that 8.57 million pounds is just the beginning for Lo Herma.

In a conversation with Proactive's Tylah Tully, Lane underscored the project's potential for near-term production with modest capital investment. This development is a crucial step in GTI Energy's strategy to advance its uranium projects and capitalize on the growing demand for uranium as a key component of sustainable energy solutions.

The increase in Lo Herma’s uranium resource is a testament to GTI Energy's commitment to expanding its resource base and optimizing project economics. As the company progresses with its scoping study and further exploration, stakeholders can anticipate continued growth and development in GTI Energy's uranium portfolio.

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