AUS
NZ
UK
CA
USA
IND
Highlights
- Mineral Resource Estimate (MRE) Imminent: GTI Energy targets MRE completion for Lo Herma Uranium Project by year-end.
- Drilling Campaign Progress: Final phase of 2024 drilling campaign to wrap up in December, revealing promising high-grade uranium intersections.
- Expansion and Testing: Lo Herma footprint expands by 300 acres, with metallurgical testing results expected in early 2025.
GTI Energy Ltd (ASX:GTR, OTC:GTRIF) has updated the market on its advancements in Wyoming’s Powder River Basin, where it is developing the Lo Herma ISR (In-Situ Recovery) Uranium Project. The company expects to deliver a mineral resource estimate (MRE) and exploration target for the site by the end of the year, a milestone that could initiate an interim scoping study and shape future development plans.
Drilling Campaign and Resource Findings
As GTI Energy approaches the end of its 2024 resource development drilling program, it has confirmed deeper uranium mineralization within the upper Fort Union Formation. Of the 73 drill holes completed, key intersections include 1 meter at 0.185% eU3O8 from drill hole LH-24-071 and 2 meters at 0.074% eU3O8 from LH-24-069. This drilling phase, set to conclude in December, signals a busy finish to the year, culminating in the completion of three hydrogeologic and water monitoring wells.
In a September update with Proactive, CEO Bruce revealed that the confirmed mineralization has the potential to underpin future resource expansion at Lo Herma. These findings strengthen GTI Energy's foothold in the Powder River Basin, with the MRE and exploration target data expected to further define the resource potential of the Lo Herma project.
Footprint Expansion at Lo Herma
GTI Energy has been working to expand the Lo Herma project’s footprint through a phased staking program. The first phase, completed recently, added 300 acres to the north of Section 4. A second phase, planned for December, will extend the project southward by an additional 143 acres, potentially extending mineralized trends by approximately one mile (1.6 kilometers). This expansion marks a strategic move to increase GTI’s resource base and optimize exploration potential along these mineralized trends.
Metallurgical Testing Underway
Core samples from the Lo Herma site have been prepared for chemical assays, which will be followed by metallurgical testing under alkaline leach conditions. Once assay results are processed, composite samples will be used to evaluate the chemical extraction potential of the mineralization, with results anticipated by early 2025. This testing will include a comparison between lab assay results and field gamma probe data, providing a comprehensive understanding of uranium extraction feasibility for the project.
Deferred Drilling at Green Mountain
In a strategic decision, GTI Energy has deferred further drilling at its Green Mountain project until 2025, reallocating resources to maximize outcomes from Lo Herma. The company plans to reassess Green Mountain’s investment potential next year based on the data collected and broader market conditions.
