Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest company news from GTI Energy Ltd (ASX:GTR, OTC:GTRIF).
GTI is set to commence the final phase of its 2024 drilling campaign at the Lo Herma Uranium Project in Wyoming’s Powder River Basin. The company plans to drill and construct three hydrogeologic and water monitoring wells, with the goal of updating the mineral resource estimate and exploration target for Lo Herma by year-end. Upon completion of drilling, a decision will be made on the potential for a scoping study to evaluate the project’s economic viability.
At the Great Divide Basin Projects, GTI has finalised a maiden drill plan for the Green Mountain Project, selecting 16 drill holes for permitting. This program will verify historical drill data and test 19 kilometres of mineralised regions identified through a 2023 geophysical survey.
In related news, Uranium Energy Corp (UEC), the largest uranium company in the US, is acquiring Rio Tinto’s Wyoming assets for US$175 million, which includes the Sweetwater uranium plant. This acquisition aligns with GTI Energy’s uranium development ambitions in the region, particularly around the Great Divide Basin and Green Mountain district.