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Drilling

GTI Energy's 2024 Phase II Drilling Program at Lo Herma ISR Uranium Project Seeks to Expand Resource Areas

Strategic Insights

— 1 min read

GTI Energy's executive director Bruce Lane discussed the objectives and potential of the company's 2024 Phase II drilling program at the Lo Herma ISR Uranium Project in Wyoming's Powder River Basin. The program aims to expand the resource areas and upgrade the mineral resource classification where feasible. The project's current inferred mineral resource estimate stands at 5.71 million pounds of uranium (U3O8) at an average of 630ppm.

Key Takeaways:

  • The 2024 Phase II drilling program at the Lo Herma ISR Uranium Project aims to expand the resource areas and upgrade the mineral resource classification where feasible.
  • The current inferred mineral resource estimate at the project stands at 5.71 million pounds of uranium (U3O8) at an average of 630ppm.
  • The drilling program, scheduled to start in late July or early August, will involve up to 76 drill hole locations and the construction of up to five groundwater monitoring wells.
  • Data collection will include hydrogeologic parameters of the mineralised aquifers and rock core samples for metallurgical testing.
  • GTI Energy plans to publish an updated mineral resource estimate and exploration target range after the drilling is completed.
  • The updated MRE is expected to support the near-term development of a scoping study, demonstrating the project's economic potential.
  • A recent capital raise of $2.25 million from sophisticated and institutional shareholders has fully funded the drilling and a subsequent scoping study.

Statistics:

  • 5.71 million pounds of uranium (U3O8) at an average of 630ppm - current inferred mineral resource estimate at the Lo Herma ISR Uranium Project.
  • $2.25 million - capital raised from sophisticated and institutional shareholders for drilling and scoping study programs.
  • Up to 76 drill hole locations and up to five groundwater monitoring wells - permitted for the 2024 Phase II drilling program.

Sources:

  • GTI Energy Ltd (ASX:GTR, OTC:GTRIF)
  • Interview with GTI Energy's executive director Bruce Lane

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