Geophysics Starts & More Data Aquired For Lo Herma Uranium Project

GTI Energy Ltd (ASX: GTR) (GTI or Company) is pleased to provide an update on its planned airborne geophysics program and progress towards reporting an Inferred Mineral Resource Estimate (MRE), in accordance with the JORC code 2012, at its 100% owned ~12,000-acre Lo Herma ISR Uranium Project in Wyoming’s Powder River Basin uranium district (Lo Herma) (Figure 2).

Highlights:

• Airborne geophysics survey has commenced at Lo Herma with aircraft expected to move to Green Mountain & Loki West in due course
• The geophysical survey is designed to advance & prioritise exploration targets
• Additional historical data secured for Lo Herma to enhance exploration potential
• All 1,445 historical drill logs now digitised & compiled in the Lo Herma resource model
• Lo Herma maiden mineral resource estimate report due 1st week of July
• Lo Herma initial drill targeting completed with permitting ongoing for verification & exploration drilling campaign during late 2023 or 1st half 2024

The airborne geophysical survey has now commenced after delays caused by weather, aircraft repairs and FAA approval. The survey has commenced at the Company’s Lo Herma project area and will, in due course, move to the Loki West and Green Mountain project areas (Figure 2). Terraquest Ltd are conducting the survey using a Piper-Navajo twin engine aircraft (Figure 1) loaded with a suite of sensors that provide detailed radiometric, magnetic and electromagnetic data, allowing for correlation between the three products to further refine the Company’s high- priority targets and potentially locate new targets for upcoming drill programs. The survey sensing package includes a Resolution Magnetometer, Horizontal Gradiometer, Max Gamma Radiometer and Matrix VLF-EM sensors.

Uranium mineralisation at Lo Herma, Green Mountain and Loki West is sandstone hosted. The airborne geophysics is expected to help define major sandstone channel systems which, coupled with historical drilling data and radiometric anomalies, will aid in refining drill target definition.

Executive Director Bruce Lane commented “this airborne geophysical survey is an important component of our program to advance our 100% owned Lo Herma, Loki West & Green Mountain Uranium Projects. The airborne survey follows the results of our recent historical drilling analysis and ground reconnaissance programs that have highlighted high-quality exploration targets at all three project areas. This survey is also expected to help further refine & confirm drill targets ahead of planned drilling at Lo Herma during late 2023 or the first half of 2024.”

FIGURE 1. TERRAQUEST LTD’S AIRCRAFT (PIPER-NAVAJO CGJBG), CASPER AIRPORT, WYOMING

LO HERMA PROJECT – ADDITIONAL HISTORICAL DATA

The Company has secured additional historical data, relating to Lo Herma, containing scanned original drill hole maps, internal memos, drill hole logs with assay data, and interpretive geological cross sections and trend maps produced by Pioneer Nuclear Inc. (Pioneer) and partners, responsible for exploration work at the Lo Herma project site during the 1970’s & 80’s.

Of particular interest is an interpretive geological roll-front trend map collection, which represents redox trend projections and roll front mapping. These maps are of the same series that were included with the original Lo Herma data package and fill a gap in the original data package. This data will allow for a more comprehensive understanding of the geological interpretations of almost a decade of exploration activity. This is expected to aid in the development of additional exploration targets in the lesser explored sand units across the project.

A preliminary breakdown of the data package contents follows:

• 22 Geologic interpretive trend maps
  
• 29 Detailed drill hole collar maps including mineral intercept summaries
• 38 Geologic cross sections with gamma logs in section
• 12 Claims maps with limited accompanying information
• 9 reports and memos
• 7 Core hole drill logs with assay data, physical properties, & petrological descriptions

The data has been scanned and combined into the Lo Herma database for interpretation and inclusion in the impending JORC 2012 resource report for the project.

Work is continuing on permitting for the planned drill program. Interpreted results of the airborne geophysical survey will also be integrated into the geological & resource model for the deposit when the results come to hand in the coming weeks.

LO HERMA ISR 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 within ~50 miles of five (5) 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 and has been the backbone of Wyoming uranium production since the 1970s.

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