GTI Energy Ltd (ASX:GTR, OTC:GTRIF) is on track to deliver a mineral resource estimate (MRE) and exploration target for its Lo Herma ISR Uranium Project in Wyoming’s Powder River Basin by year-end which will lead to a decision on starting an interim scoping study.
The company also estimates that the final phase of its 2024 drilling campaign will be completed during December, hinting at a busy end to the year.
In late September, Proactive caught up with CEO Bruce to discuss the deeper uranium mineralisation the company has confirmed at Lo Herma.
The 2024 resource development drilling program included 73 drill holes, with seven new ones, confirming deeper mineralisation in the upper Fort Union Formation.
Key findings include a high-grade intersection of 1 metre at 0.185% eU3O8 from drill hole LH-24-071 and 2 metres at 0.074% eU3O8 from LH-24-069.
GTI Energy updated the market today on several developments at Lo Herma as the countdown to the MRE and finalisation of drilling continues.
Lo Herma footprint extension
GTI Energy has completed the first phase of a staking program to expand its holdings along trend at Lo Herma. This initial phase has extended Lo Herma’s footprint by 300 acres to the north of Section 4.
A second phase, set for completion in December, is expected to add a further 143 acres south of Section 4. The staking activity is anticipated to extend the mineralised trends at Lo Herma by approximately one mile (1.6 kilometres).
Lo Herma metallurgical testing
Drill core samples from Lo Herma have been logged and split for chemical assay and metallurgical testing, with assay samples now submitted to the laboratory.
Once assay results are received, composites will be prepared for metallurgical testing under alkaline leach conditions. The analysis will include a comparison between chemical assay results and gamma probe field assays.
Results are anticipated in early 2025.
Drilling to be completed in December
The final phase of GTR’s 2024 drilling campaign is estimated to finish in December, which includes constructing three hydrogeologic and water monitoring wells.
GTI has opted to defer drilling at its Green Mountain project, with plans to reassess potential investment in the project in 2025.