GTI Energy looks set to expand resources at its Lo Herma ISR uranium project. Pic: Getty Images
GTI Energy drilling extends uranium mineralised trends at Lo Herma
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- GTI Energy’s drilling has extended uranium mineralisation at Lo Herma to the north
- Latest results maintain its 80% success rate in intersecting on-trend mineralisation
- Mineralisation also found to continue across multiple sandstone units
Special Report: Drilling at GTI Energy’s Lo Herma ISR uranium project in Wyoming has confirmed that uranium mineralisation extends northwards from the current resource area.
The latest batch of results from 56 holes drilled at the project included best intercepts of 6ft (1.83m) grading 0.123% (1230 parts per million) eU3O8 in hole LH-24-028 and 11ft at 540ppm eU3O8 in LH-24-063.
GTI Energy (ASX:GTR) also enjoyed a high success rate from the holes drilled to date with 45 of the 56 holes intersecting on trend mineralisation.
This adds to the eight holes in the first batch of 10 holes that intersected on-trend mineralisation and essentially maintains the 80% success rate from the 66 holes completed to date out of the planned 76 hole program.
To top it off, the company notes that mineralisation continues across multiple sandstone units as drilling extends the mineralised trends to the north.
“Drilling to date at Lo Herma has been very successful in demonstrating extensions of mineralisation, with strong GT numbers to the north of the project area and at depth in the sands of the lower Wasatch formation,” chief executive officer Bruce Lane said.
“Results so far give us great confidence that we can grow the global uranium resource estimate and upgrade a material portion to the indicated category.
“Drilling is currently running to schedule with operations now moved to the east of the project area to test for deeper mineralisation in the Fort Union formation.
“The sand units of the lower Wasatch formations are showing reliable continuity and mineralisation far along trend to the north so we are now excited to see what the deeper Fort Union formation sands may hold as we move to our final exploration area for this phase of drilling.”
Expanding and upgrading uranium resource
The drill program is aimed at both expanding and upgrading the certainty of the Lo Herma resource, which currently stands at 5.71Mlbs U3O8 at an average 630ppm.
Once this program is completed, including the construction of water monitoring wells, towards the end of October 2024, GTR will publish an updated resource estimate and exploration target range. The updated resource is anticipated to support near-term development of a scoping study to demonstrate the economic potential of the project.
This will in turn place the company on a path towards permitting Lo Herma for further drilling and mine development.
This article was developed in collaboration with GTI Energy, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
