GTI Energy Ltd (ASX:GTR) has made long strides in its journey towards a mineral resource estimate (MRE) for the Lo Herma in-situ recovery (ISR) uranium project in the Powder River Basin uranium district of Wyoming.
With the completion of historical drill log digitisation at 95%, GTI is now on track to achieve its goal by the end of this quarter.
GTI recently purchased an historical data package for the 12,000-acre Lo Herma project worth some $15 million, which included original drill logs for about 1,445 drill holes within the project area.
This digitisation process has been crucial in developing a robust database necessary for the preparation of an MRE.
The exploration target for Lo Herma sits in the 7.3 to 9.0-million-tonnes range at a grade of 500 to 700 parts per million uranium to contain an estimated 8.1 to 13.9 million pounds of uranium.
Drilling program at Lo Herma
With an MRE almost in hand, GTI is turning its attention to permitting a drilling program at Lo Herma, designed to confirm historical data, gather information related to the depth of the static ground water table and strategically target extensions of the mineralisation.
The drilling program is expected to begin later in the year, likely in the fourth quarter, as the data from it is not required to produce JORC-compliant MRE.
In addition, GTI will fly an airborne geophysical survey over the tenure in mid-to-late June and recently raised $3.7 million in a share placement.