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GTI Energy Ltd (ASX:GTR, OTC:GTRIF) has completed its 2024 resource development drilling campaign at the Lo Herma In-Situ Recovery (ISR) uranium project, located in Wyoming's Powder River Basin. The latest phase of drilling revealed deeper uranium mineralisation, highlighting the potential for further resource expansion and higher-grade discoveries within the upper Fort Union Formation.
Deeper Uranium Mineralisation Confirmed
The recently concluded drilling program involved 73 drill holes, including seven new ones. The latest round of results identified deeper zones of uranium mineralisation at higher grades, particularly in the Fort Union Formation. Among the standout findings was a high-grade intersection of 1 metre (3.5 feet) at 0.185% (1,850 parts per million) eU₃O₈ from drill hole LH-24-071. Another significant result came from drill hole LH-24-069, which reported multiple mineralised intervals, including 2 metres (6.5 feet) at 0.074% eU₃O₈, contributing to a total grade-thickness (GT) of 1.092 across five sand units.
The grade-thickness (GT) metric, an important factor in ISR uranium projects, combines the quality and volume of the mineralisation. This helps to assess the overall potential of the deposit for ISR mining, a method that extracts uranium from permeable sandstone formations without the need for open-pit or underground mining. With deeper mineralisation discovered, the potential for resource growth at Lo Herma continues to strengthen.
To date, GTI Energy has completed 53,166 feet (16,205 metres) of drilling at the project, covering approximately 96% of its planned 76-hole program. The next phase of the campaign includes the completion of hydrogeologic investigation drill holes and water monitoring wells, which are scheduled for October 2024. These steps will provide crucial data on the groundwater conditions, an essential aspect of ISR mining.
Lo Herma’s Geological Framework
Lo Herma is situated in an area known for its uranium-rich geological formations, particularly the Wasatch and Fort Union formations. These formations have long been associated with uranium production in Wyoming, which has been a significant source of uranium since the 1970s. The stacked sandstone layers within the formations are particularly favorable for ISR extraction, and the recent drilling has confirmed that both the lower Wasatch and upper Fort Union contain consistent mineralisation across broad areas of the project site.
GTI Energy's drilling campaign at Lo Herma is part of its broader goal to expand the project’s inferred mineral resource while also gathering data for an upcoming scoping study. This study will provide insights into the potential commercial viability of the project, guiding the company in future development phases.
Resource Expansion and Upcoming Updates
Following the completion of this year’s drilling program, GTI Energy plans to update its mineral resource estimate (MRE) and exploration target for Lo Herma by the end of the year. The new resource estimate will reflect the expanded knowledge of mineralisation within the deeper sand units, particularly in the eastern part of the project area. This region has shown significant promise, with additional mineral resources likely to be incorporated into future resource calculations.
Lo Herma is also strategically positioned near several ISR uranium production facilities in Wyoming. This proximity offers logistical advantages, potentially allowing for easier integration into existing infrastructure and processing networks. With a history of uranium production dating back decades, Wyoming remains a key hub for the global uranium supply, making Lo Herma a project of strategic importance.
Positive Outlook for Lo Herma
GTI Energy's leadership has expressed optimism about the progress made during this year’s drilling program. The company's CEO, Bruce Lane, stated that the results confirm the presence of strong grades across multiple sand units within the Fort Union Formation. He highlighted the reliable continuity of mineralisation across extended areas of the project, reinforcing the belief that additional uranium resources can be incorporated from the eastern part of Lo Herma.
As the company prepares to conclude its hydrogeologic and water monitoring activities, it remains focused on updating the mineral resource estimate and exploration target for the project by year-end. These updates are expected to provide a clearer picture of Lo Herma’s potential and guide future development decisions.
In summary, GTI Energy’s 2024 drilling campaign has reinforced the potential for deeper and higher-grade uranium mineralisation at Lo Herma. With additional data expected in the coming months, the project continues to move closer to a more comprehensive understanding of its resource base, positioning GTI Energy for further growth in the uranium sector.
