With the uranium sector continuing to heat up, GTI Energy has expanded its Wyoming uranium portfolio with the acquisition of the Lo Herma project in the Powder River Basin.
Importantly, the 8,000 acre (3,500 hectare) project is located within about 80km of five permitted In Situ Recovery (ISR) production facilities, including Cameco’s Smith Ranch-Highland ISR facilities which are just 16km away and is the largest uranium production site in the state.
GTi Energy (ASX:GTR) is expanding and diversifying its Wyoming uranium asset portfolio at a time when Cameco’s president and CEO Tim Gitzel says demand for nuclear power is driving the “best fundamentals ever seen.”
That GTI is expanding into the Powder River Basin isn’t surprising given that the basin has an extensive ISR uranium production history and has been the backbone of US and Wyoming uranium production since the 1970s.
“We are extremely excited about the potential of the newly staked Lo Herma property in Wyoming’s Powder River Basin,” executive director Bruce Lane said.
“We believe that Lo Herma has the potential to become a significant asset for GTI as we continue to build and diversify our Wyoming uranium portfolio.”
New claims secured at Thor
However, new projects are not all that the company is doing; GTI has also staked additional lode claims covering about 250 acres to expand its Thor project in the Great Divide Basin.
The new claims about the eastern section of the existing Thor claims and south of Thor’s state sections.
Notably, they are positioned on well mineralised trends identified during the company’s drilling campaigns and are expected to allow it to extend the existing interpreted trend lengths into the new claim area.
This article was developed in collaboration with GTi Energy Limited, 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.