GTI Energy Ltd (ASX:GTR, OTC:GTRIF) CEO Bruce Lane talked with Proactive’s Tylah Tully about a mineral resource update at the Lo Herma Uranium Project in Wyoming.
The company has announced a significant 50% increase in its resource estimate, reaching 8.57 million pounds.
Lane emphasised the importance of this milestone, noting, "To get over [8 million pounds] is obviously very pleasing."
The upgrade includes 30% of the resource now in the indicated category, a critical step in advancing the project.
Lane highlighted that this resource aligned with similar deposits in the region, such as the Shirley Basin Project by UREnergy and Gas Hills by Encore Energy, which are both slated for production.
The focus now shifts to the scoping study, with metallurgical testing and hydrology work underway.
Lane expressed optimism about uranium market trends, noting the potential for price increases in 2024 as global interest in nuclear power grows.
With the Lo Herma Project located in a proven uranium-producing region, Lane underscored its potential for near-term production with modest capital investment.
GTI Energy is poised for significant advancements in 2025, with the scoping study results expected in the first half of the year.