GTI Energy hammers in 50pc upgrade to Lo Herma yellowcake

GTI Energy upgrades Lo Herma uranium resource by 50% to 8.57Mlb
Update includes lifting 32% of the resource into Indicated classification
Contractor engaged to start scoping study for completion in H1 2025

Special Report: GTI Energy’s successful drilling and staking of additional leases have allowed it to crank up resources at its Lo Herma in-situ uranium project in Wyoming’s Powder River Basin by 50% to 8.57Mlb with a significant increased exploration target on top.

Adding interest, a good 32% of the resource – 2.78Mlb – is lifted into the higher confidence indicated category that provides enough certainty for scoping study purposes.

GTI Energy (ASX:GTR) has also defined further potential to grow Lo Herma with an update to the conceptual uranium exploration target to between 5.59 and 7.1Mt with a grade range of 500-700ppm U₃O₈ pointing the way to potentially more the doubling the resource.

“We are delighted with the major uplift in Lo Herma’s uranium resource, now 50% larger at 8.57Mlb,” executive director Bruce Lane said.

“This important milestone positions Lo Herma favourably in size against Ur-Energy’s nearby 8.8Mlb Shirley Basin ISR build, and Encore Energy’s 8.1Mlb Gas Hills ISR project.

“Importantly, over 30% of Lo Herma’s resource is lifted into indicated classification with an expanded exploration target pointing the way to even greater potential for growth.

“Given Lo Herma’s proximity to several major ISR production facilities within 60 miles, we believe this project has strong potential to transition into production.”

Scoping study

With the resource upgrade under its belt, GTR has now kicked off a scoping study that will provide an early-stage evaluation for Lo Herma’s potential economic viability.

This will be conducted by Wyoming-based contractor BRS Engineering, which has significant experience with Wyoming ISR project development from exploration through to construction and rehabilitation.

Completion is expected in the first half of 2025.

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.