GTI Energy

Drilling Commences at Lo Herma ISR Uranium Project in Wyoming

GTI Energy Ltd (ASX: GTR) (GTI or Company) advises that drilling has now commenced at its 100% owned Lo Herma ISR Uranium Project (Lo Herma) located in Wyoming’s prolific Powder River Basin (Figures 1 & 2). The drill program is utilising mud rotary drilling & down hole gamma logging.


  • Mud rotary drilling has started at GTI’s Lo Herma ISR uranium deposit.
  • Initial drilling of up to 26 holes (~15,000ft/~4,600m) to validate and upgrade the maiden JORC inferred resource of 5.7Mlbs U3O8 at average grade 630ppm
  • Drilling to also target exploration potential along trend in the Wasatch Formation & in the deeper Fort Union Formation which Cameco produces from ~10 miles west.
  • Lo Herma is ~10miles from the US’s largest ISR U3O8 production plant at Cameco’s Smith Ranch-Hyland & ~60 miles from UEC’s Irigaray & Energy Fuels’ Nichols Ranch

FIGURE 1. MUD ROTARY DRILLING AT GTI’S LO HERMA PROJERCT, POWDER RIVER BASIN (WY)

LO HERMA URANIUM PROJECT – LOCATION & BACKGROUND

The Lo Herma ISR Uranium Project (Lo Herma) is located in Converse County, Powder River Basin (PRB), Wyoming (WY). The Project lies approximately 15 miles north of the town of Glenrock and close to seven (7) permitted ISR uranium production facilities. These facilities include UEC’s Willow Creek (Irigaray & Christensen Ranch) & Reno Creek ISR plants, Cameco’s Smith Ranch-Highland ISR facilities and Energy Fuels Nichols Ranch ISR plant (Figure 2). The Powder River Basin has extensive ISR uranium production history with numerous defined ISR uranium resources, central processing plants (CPP) & satellite deposits (Figure 2). The Powder River Basin has been the backbone of Wyoming U3O8 production since the 1970s.

FIGURE 2. WYOMING IS URANIUM PROCESSING PLANTS & GTI PROJECT LOCATIONS1

As reported to ASX on 14 March 2023, a comprehensive historical data package, with an estimated replacement value of ~$15m, was purchased for the Lo Herma project in March of 2023. The data package includes original drill data for roughly 1,771 drill holes, from the 1970’s and 1980’s, pertaining to the Lo Herma region. 1,391 original drill hole logs were digitised for gamma count per second (CPS) data and converted to eU3O8% grades. 845 of the drill holes were located on GTI’s current land position & used to prepare the Mineral Resource Estimate.

An initial exploration target for the Lo Herma project was previously announced to the ASX on 4 April 2023. An additional data package containing previously unavailable drill maps with geologically interpreted redox trends was subsequently secured by GTI as announced to the ASX on 27 June 2023. The additional redox trend interpretations allowed for an update of the previously reported Lo Herma exploration target (Table 1).

TABLE 1: SUMMARY OF INFERRED MRE & EXPLORATION TARGETS (ASX 5 JULY 2023)The potential quantity and grade of the Exploration Targets is conceptual in nature and there has been insufficient exploration to estimate a JORC-compliant Mineral Resource Estimate. It is uncertain if further exploration will result in the estimation of a Mineral Resource in the defined exploration target areas.

DRILLING PLAN

The initial drilling program is a 26-hole (~15,000ft/~4,600m) campaign to both confirm a subset of historical drill holes as well as explore untested locations and depths. Drilling is expected to average 500 feet with a maximum potential depth of 1,500 feet.

Several of the drill holes are sited to target locations for confirmation of the historical drilling data. If conditions allow, the drillers will attempt to recover rock core samples of the mineralized zone for metallurgical testing. In addition to the confirmatory drilling, drill holes have been planned to test the alteration conditions of the host sand units across the property and geologic strata. This will help in further refining the locations of the projected REDOX trends and in improving targets for future exploration. These stratigraphic holes will also bring the benefit of testing the deeper sand units of the Fort Union formation which were historically underexplored.

This initial program is part of a larger permitted campaign totalling 68 holes with the balance of the campaign to be refined & assessed for execution during 2024 subject to results.


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.

GTR:AU
GTI Energy

GTI Energy Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
GTI Energy

GTI Energy


Keep reading...Show less
uranium news

Rigs Secured For Wyoming Uranium Drilling & Utah Fieldwork Completed

GTI Resources Ltd (GTI or Company) is pleased to advise that 2 mud rotary drill rigs have been secured for its planned drilling campaign at the Thor ISR uranium project in Wyoming’s Great Divide basin (Figure 1). As previously advised, GTI is on track to commence drilling during December. This maiden drill program is designed to confirm the grade and tenor of uranium mineralisation that was previously identified by Kerr McGee in the 1970’s & 80’s and to ultimately support definition of an economic uranium resource.

Figure 1. Thor Project Uranium Drilling Location Map, Great Divide Basin, Wyoming USA

Keep reading...Show less
  Boss Energy

Production Starts at Alta Mesa Uranium Project, Texas

Key milestone comes just eight weeks after production started at Boss’ Honeymoon project in South Australia; Boss on track to become a ~3Mlbs-a-year producer

Boss Energy Limited (ASX: BOE; OTCQX: BQSSF) is pleased to advise that production has started at its 30 per cent- owned Alta Mesa In-Situ Recovery (“ISR”) Central Processing Uranium Plant and Wellfields (“Alta Mesa Project”) in South Texas.

Keep reading...Show less
Growing graph and nuclear power station cooling tower.

When Will Uranium Prices Go Up? (Updated 2024)

Uranium is an important fuel source for the nuclear energy industry, but many investors were shaken out of the market after many years of low uranium prices. Now that a rebound is underway, many wonder if the commodity will once again reach its peak.

Driven by rising demand and massive supply disruptions, uranium prices shot up in 2007 from US$72 per pound at the start of the year to an all-time high of US$136.22 by early June. However, uranium prices didn’t last long above US$100 per pound, and the market value of the energy fuel was in the doldrums for more than a decade.

Prices began to climb again in 2021, and picked up speed in 2023. This rally led the uranium spot price to hit a major milestone in January 2024 when it broke through the US$100 per pound level for the first time in 17 years. This recent rally was sparked by a confluence of global and market events, including the Russia-Ukraine war and uranium supply challenges related to conversion and enrichment.

The drive for nuclear energy to be a part of the fight to combat climate change is also having an oversized impact on the uranium price outlook as governments look to nuclear as a carbon-free energy source. Even Sweden is considering lifting its ban on uranium mining in an effort to support growth in it own nuclear power industry, for which it currently imports nuclear fuel. "Sweden currently uses 2.4 million pounds U3O8 annually in its three nuclear power plants and has committed to building two additional nuclear reactors by 2035," World Nuclear News reported.

Keep reading...Show less
Gladiator Resources Limited

Drilling Commences at Mkuju Uranium Project

Gladiator Resources Ltd (ASX: GLA) (Gladiator or the Company) is excited to announce that diamond core drilling commenced on 10 June 2024, at our 100% owned Mkuju Uranium Project in southern Tanzania.

Keep reading...Show less
GTI Energy (ASX:GTR)

GTI Board Appoints Ex-Head of Cameco Australia, Simon Williamson

GTI Energy Ltd (GTI or Company) is delighted to advise of the appointment of Mr Simon Williamson to the board of GTI as Non-Executive Director.

Hightlights

Keep reading...Show less

Denison Announces Completion of Inaugural ISR Field Test Program at Midwest

Denison 70 Logo (CNW Group/Denison Mines Corp.)

Denison Mines Corp. ("Denison") (TSX: DML) (NYSE American: DNN) is pleased to announce it has completed the inaugural In-Situ Recovery ("ISR") field test program (the "Program") at Denison's 25.17% owned Midwest Uranium Project ("Midwest").  The Program involved drilling 10 small diameter boreholes within the Midwest Main deposit primarily undertaken to evaluate site-specific conditions for ISR mining. A series of tests were successfully performed on each borehole, creating an extensive database of geological, hydrogeological, geotechnical, and metallurgical data and validating certain key assumptions in the previously completed internal conceptual mining study (the "Concept Study") evaluating the potential use of ISR mining at Midwest (see Press Release dated April 12, 2023 ). View PDF

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Ben Finegold, nuclear reactors.

Ben Finegold: Uranium's New Paradigm — Market Dynamics and How to Invest

Speaking to the Investing News Network, Ben Finegold, director at Ocean Wall, shared his latest thoughts on uranium, covering supply and demand dynamics and his outlook for prices in 2024 and beyond.

In his view, the market has only reached its third inning, meaning the story is nowhere near over. While investors will need to be more selective, Finegold remains bullish on the uranium spot price and sees uranium stock opportunities too.

"You've got the supply side as fragile as it is, and you've got demand really starting to kick into gear over the next decade. And then you can throw (small modular reactors) into that story, you can throw ... all these bells and whistles on top. And you start to realize that it is a unique, quality story versus anything else," Finegold said during the interview.

Keep reading...Show less
GTI Energy

GTI Energy Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×