Mining
GTI Energy Ltd (ASX:GTR & GTRO, OTC:GTRIF) is exploring its 100% owned ISR uranium projects in Wyoming in the US. GTI’s focus is on in-situ recovery mining – the most cost effective and environmentally friendly method of uranium mining. With combined inferred resources of 7.37 million pounds of U3O8, at an average grade of around 600ppm, GTI aims to kick off drilling at the project in November with the intention of upgrading its resources.
GTI’s Lo Herma Project is located within the uranium-rich Powder Basin in Wyoming ~10 miles west of Cameco’s Smith Ranch-Hyland, the US’ largest ISR U3O8 production facility. Lo Herma lies within ~60 miles of another four permitted ISR uranium production facilities including UEC’s Willow Creek (Irigaray & Christensen Ranch) & Reno Creek ISR plants, and Energy Fuels’ Nichols Ranch ISR plant.
With a combined Mineral Resource of 5.43Mt @ 615ppm for 7.37Mlbs U3O8,. GTI holds three highly prospective uranium (U) projects in Wyoming, Lo Herma (5.71Mlbs U3O8), Great Divide Basin (GDB) (1.66Mlbs U3O8), & Green Mountain. The company also has the potential to triple its resource size to 27Mlbs U3O8 – GTR has an Exploration Target of 11.9MT-14.8Mt @ 420ppm – 700ppm for a further 12.0Mlbs – 19.8Mlbs U3O8 across its three projects. Application for a drilling permit is under way for Lo Herma with plans to commence a drilling program in late 2023. Green Mountain permitting will follow receipt and interpretation of impending final aerial geophysics results.
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