GTI Energy Ltd (ASX: GTR) (GTI or Company) is pleased to advise that planning for the 2024 field season in Wyoming has progressed well and permitting is on track to facilitate drilling during Q3.
Highlights
- Lo Herma drilling permit amendment in progress to optimise follow-up drilling, increase total number of drill holes, and construct monitoring wells for groundwater data collection – drilling is scheduled for Q3 2024
- Lo Herma Mineral Resource Estimate & Exploration Target to be updated in Q4 2024
- Green Mountain maiden drilling planned for 2024 with permitting underway
- Utah uranium/vanadium projects under evaluation to determine potential paths for renewed exploration, resource development or other value creating activities
LO HERMA PROJECT: 2024 DRILLING PERMIT AMENDMENT
42 drill holes remain permitted and undrilled at Lo Herma, however a review of the drilling conducted during December 2023 has helped the Company to refine and expand the planned 2024 drilling program to include 71 drill hole locations and construction of up to 5 groundwater monitoring wells. This next phase of exploration at Lo Herma will be focused on expanding the resource areas and where possible, upgrading the current mineral resource classification. Collection of important data including, hydrogeologic parameters of the mineralised aquifers and collection of rock core samples for metallurgical testing will be also prioritised.
GTI intends to mobilise drilling rigs to Lo Herma as soon as the activity is fully permitted, and environmental clearances are finalised. At this time, GTI anticipates that drilling will commence at Lo Herma during July 2024.
Following completion of the 2024 drill program at Lo Herma, GTI intends to publish an updated mineral resource estimate and exploration target range for the project. The Company expects that the updated mineral resource estimate will support near-term development of a Scoping Study to demonstrate the economic potential of the project.
The most recent drill results from Lo Herma and a summary of the project geology can be found in the Company’s 20 December 2023 news release.
GREEN MOUNTAIN PROJECT: DRILLING PERMIT
As previously advised on 21 November 2023, the Company completed an airborne geophysical survey at its Green Mountain Project to help refine a previously planned (but not permitted) drilling program. The now updated drilling plan includes 16 potential drill holes targeting 12 Miles of anomalous radiometric signature (Figure 1) which has been correlated with historical Kerr McGee drill holes maps.
A conceptual universe of 50 drill holes was initially developed with specific drill hole locations and access routes selected in consideration of site-specific topography and environmental considerations – the GTI technical team has now finalised this drill plan, selecting 16 drill holes that will be permitted for the 2024 drilling season should funding and weather conditions allow. The planned drill program will test the validity of the historical Kerr McGee drill hole maps, as well as the interpreted mineralised regions as determined from the airborne geophysical survey.
A “Class I Cultural Resource Report” and site Environmental Review have been completed with both of these studies incorporated into the planning of the drill program. Final on-site review of access will be completed as weather allows after which the Company will file the Drilling Notification. GTI will make a final decision to proceed once reclamation bonding is approved by Wyoming’s DEQ & the Federal BLM.
FIGURE 1. GREEN MOUNTAIN PROJECT SHOWS 12 MILES (19 KM) ANOMALOUS URANIUM TRENDS
GREEN MOUNTAIN PROJECT: GEOLOGIC SETTING AND MINERALISATION
The Green Mountain Project is located along the northeastern flank of the Great Divide Basin (GDB). The GDB consists of up to 25,000 feet of Mesozoic to Quaternary sediments and along with the Washaki Basin to the southwest, comprise the greater Green River Basin which occupies much of southwestern Wyoming. The Great Divide basin is structurally bounded by uplifted and fault displaced Precambrian rocks, creating an internally drained and isolated hydrogeologic basin.
Click here for the full ASX Release
This article includes content from GTI Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
FIGURE 1. GREEN MOUNTAIN PROJECT SHOWS 12 MILES (19 KM) ANOMALOUS URANIUM TRENDS
FIGURE 1. GTI WYOMING PROJECT LOCATIONS
Figure 1 The Talus Uranium Prospect depicting the location of the incredibly high-grade soil samples. Note: surface geochemistry is highly coincidental with the large existing anomalous radiometric corridor.
