GTI Energy looking to score in Wyoming as it preps drilling at Lo Herma ISR uranium project
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Special Report: Permits and bonds are in place for drilling to start mid-November at the Lo Herma ISR uranium project in Wyoming’s prolific Powder River Basin.
GTI Energy’s (ASX:GTR) Lo Herma is roughly 10 miles from the US’s largest ISR U3O8 production plant at Cameco’s Smith Ranch-Hyland, and ~60 miles from UEC’s Irigaray & Energy Fuels’ Reno Creek.
Lo Herma is home to a maiden resource of 4.12Mt at an average grade of 630ppm U308 for 5.71Mlbs contained metal, which lifts GTR’s total inferred resources to 7.37Mlbs U308.
Following the release of that resource in July, the company increased its exploration target for the project by roughly 25% to 5.32-6.65Mt @ 500-700ppm U3O8 for 5.87-10.26Mlbs of additional contained metal.
Permitting has wrapped up and bonds are in place for a planned drill program in mid-November at Lo Herma. In addition GTI has received the final radiometric images, from their recent aerial geophysics program, which will help guide drill planning for 2024’s planned maiden drilling at Green Mountain.
Initial drilling of up to 26 holes totalling circa 4,600m is being planned to validate and upgrade the resource further, as well as to target exploration potential along trend in the Wasatch Formation and in the deeper Fort Union Formation, which Cameco produces from ~10 miles west.
The explorer has also secured an additional strategic area of 28 lode claims, contiguous with the existing land position at Lo Herma.
These new claims contain several historical drill holes and hold “excellent exploration potential”, particularly within the underexplored deeper sand units of the Fort Union formation, GTR says.
Results from the recently completed airborne radiometric and magnetic surveys have been received, confirming GTR’s exploration hypothesis.
The company believes the suite of airborne geophysical survey products will prove invaluable in planning for future exploration for all of the surveyed properties.
“This campaign is designed to verify the large body of historical data used to prepare the Lo Herma JORC inferred resource whilst upgrading and potentially extending that resource,” GTR executive director and CEO Bruce Lane says.
“Our near-term objective is to build sufficient data from this drilling and a follow-up campaign in 2024 to support a preliminary assessment for the project.”
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.