GTI Energy

GTI Activities Report, September Quarter 2024

GTI Energy Limited (ASX: GTR) (GTI or Company) is pleased to report its activities during the September quarter 2024.


  • Lo Herma resource drilling permit was approved for 57,000 ft (~17,000 m) of mud rotary drilling with 73 resource estimate development drill holes completed to date
  • Drilling targeted expansion and upgrade of the current Inferred Mineral Resource Estimate of 5.71 Mlbs eU3O8 at average 630ppm (Table 3)
  • Drilling has confirmed that uranium mineralisation continues north from the current mineral resource area with strong mineralised intercepts over good thicknesses encountered stretching at least 2km north along projected trends
  • Drilling has also confirmed deeper uranium mineralisation at elevated grades within the upper Fort Union Formation, presenting significant upside potential for Lo Herma
  • Notable mineralised intercepts and grade thickness’s (GT*) reported include:
    • 16.5 ft (5 m) @ 0.054% (540ppm) eU308 in drill hole LH-24-001 for total hole GT of 0.891
    • 14.5 ft (4.4 m) @ 0.0640% (640ppm) eU308 in drill hole LH-24-002 for total hole GT of 1.158
    • 6.0ft (1.8 m) @ 0.123% (1,230ppm) eU308 in hole LH-24-028 for total hole GT of 0.903
    • 11 ft (3.4 m) @ 0.054% (540ppm) & 6.5ft (2 m) @ 0.043% (430ppm) eU308 in hole LH-24- 063 for total hole GT of 0.874
    • 6.5 ft (2m) @ 0.074% (740ppm) eU308 in hole LH-24-069 for total hole GT of 1.092 over 23.5 ft (7.16m)
    • 3.5 ft (1m) @ 0.185% (1,850ppm) eU308 in hole LH-24-071 for total hole GT of 0.80
  • Lo Herma Mineral Resource Estimate & Exploration Target update on track for late Q4 2024
  • $2.25 million placement completed, and $2.155 million rights entitlements offered to all shareholders and optionholders
  • Green Mountain drilling permit conditions satisfied
  • GTI accepted as member of the Uranium Producers of America – peak US industry body

LO HERMA ISR URANIUM PROJECT

During the quarter the Company advised that all permits, bonds and access arrangements had been approved and put in place to commence 57,000 ft (~17,000m) of mud rotary drilling at the Lo Herma ISR uranium project in Wyoming’s Powder River Basin (PRB).

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 ~60 miles of five (5) permitted ISR uranium production facilities. Facilities include UEC’s Willow Creek (Irigaray & Christensen Ranch) & Reno Creek ISR plants, Cameco’s Smith Ranch-Highland ISR facilities & Energy Fuels Nichols Ranch ISR plant. The PRB has extensive ISR production history with numerous ISR uranium resources, central processing plants (CPP) & satellite deposits (Figure 1).

The 2024 drilling program permit at Lo Herma comprised up to 76 drill hole locations including up to 5 hydrogeologic and groundwater monitoring wells. This exploration drilling is 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.


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

NexGen Energy to Host Q3 2024 Conference Call on Rook I Project Developments

NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce the Company will host its 2024 third quarter conference call on Tuesday, November 12, 2024 at 8:30 am Eastern Standard Time .

NexGen Energy Ltd. Logo (CNW Group/NexGen Energy Ltd.)

During the call, NexGen's President and Chief Executive Officer, Leigh Curyer , alongside Chief Commercial Officer, Travis McPherson , and Chief Financial Officer, Benjamin Salter , will provide a comprehensive update on the Company's 100%-owned Rook I Project (the " Project "). This will include the latest progress on the approval process, project development, and recent exploration achievements at Patterson Corridor East. Management will also discuss insights into the Company's marketing negotiations, developments on financing activities, along with an analysis of current market fundamentals and industry dynamics.

Call-in Details:

Date: Tuesday, November 12, 2024
Time: 8:30 am Eastern Standard Time

RapidConnect URL: https://emportal.ink/4dkJtze
North America Toll Free: 1-437-900-0527
Australia Toll-Free: 612-8017-1385

Prior to the call, the Company will file its Q3 2024 Financial Statements and Management Discussion & Analysis on Friday, November 8 th , before market open. These fillings will be available for review on the NexGen website under Reports and Filings and on the Company's SEDAR+ profile at www.sedarplus.com . In addition, a replay will be available on the NexGen website under Events & Presentations.

Further Information is available at www.nexgenenergy.ca .

About NexGen

NexGen Energy is a Canadian company focused on delivering clean energy fuel for the future. The Company's flagship Rook I Project is being optimally developed into the largest low cost producing uranium mine globally, incorporating the most elite standards in environmental and social governance. The Rook I Project is supported by a NI 43-101 compliant Feasibility Study which outlines the elite environmental performance and industry leading economics. NexGen is led by a team of experienced uranium and mining industry professionals with expertise across the entire mining life cycle, including exploration, financing, project engineering and construction, operations and closure.  NexGen is leveraging its proven experience to deliver a Project that leads the entire mining industry socially, technically and environmentally.  The Project and prospective portfolio in northern Saskatchewan will provide generational long-term economic, environmental, and social benefits for Saskatchewan, Canada , and the world.

NexGen is listed on the Toronto Stock Exchange, the New York Stock Exchange under the ticker symbol "NXE" and on the Australian Securities Exchange under the ticker symbol "NXG" providing access to global investors to participate in NexGen's mission of solving three major global challenges in decarbonization, energy security and access to power.  The Company is headquartered in Vancouver, British Columbia , with its primary operations office in Saskatoon, Saskatchewan .

Forward-Looking Information

The information contained herein contains "forward-looking statements" within the meaning of applicable United States securities laws and regulations and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to mineral reserve and mineral resource estimates, the 2021 Arrow Deposit, Rook I Project and estimates of uranium production, grade and long-term average uranium prices, anticipated effects of completed drill results on the Rook I Project, planned work programs, completion of further site investigations and engineering work to support basic engineering of the project and expected outcomes. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Statements relating to "mineral resources" are deemed to be forward-looking information, as they involve the implied assessment that, based on certain estimates and assumptions, the mineral resources described can be profitably produced in the future.

Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about NexGen's business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, that the mineral reserve and resources estimates and the key assumptions and parameters on which such estimates are based are as set out in this news release and the technical report for the property, the results of planned exploration activities are as anticipated, the price and market supply of uranium, the cost of planned exploration activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen's planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a materially adverse manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate in the future.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among others, the existence of negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, conclusions of economic valuations, the risk that actual results of exploration activities will be different than anticipated, the cost of labour, equipment or materials will increase more than expected, that the future price of uranium will decline or otherwise not rise to an economic level, the appeal of alternate sources of energy to uranium-produced energy, that the Canadian dollar will strengthen against the U.S. dollar, that mineral resources and reserves are not as estimated, that actual costs or actual results of reclamation activities are greater than expected, that changes in project parameters and plans continue to be refined and may result in increased costs, of unexpected variations in mineral resources and reserves, grade or recovery rates or other risks generally associated with mining, unanticipated delays in obtaining governmental, regulatory or First Nations approvals, risks related to First Nations title and consultation, reliance upon key management and other personnel, deficiencies in the Company's title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licences, risks related to changes in laws, regulations, policy and public perception, as well as those factors or other risks as more fully described in NexGen's Annual Information Form dated March 6, 2024 filed with the securities commissions of all of the provinces of Canada except Quebec and in NexGen's 40-F filed with the United States Securities and Exchange Commission, which are available on SEDAR+ at www.sedarplus.ca and Edgar at www.sec.gov .

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or statements or implied by forward-looking information or statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned not to place undue reliance on forward-looking information or statements due to the inherent uncertainty thereof.

There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/nexgen-energy-to-host-q3-2024-conference-call-on-rook-i-project-developments-302292450.html

SOURCE NexGen Energy Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2024/31/c3125.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Toro Energy

Quarterly Activities Report For period ending 30 September 2024

Toro Energy Limited (ASX: TOE) (‘the Company’ or ‘Toro’) is pleased to provide the following review of activities for the three month period ended 30 September 2024.

Keep reading...Show less
  MOAB Minerals

$2M Placement Completed to Advance Drilling at Tanzanian Projects

Moab Minerals Limited (ASX: MOM) (Moab or the Company) is pleased to announce it has secured binding commitments from sophisticated and professional investors of the Company to raise $2m (before costs) via a placement of ordinary shares at an issue price of $0.003 per share (Placement).

Keep reading...Show less
C29 Metals

Quarterly Activities Report - For Period Ended 30 September 2024

C29 Metals Limited (ASX:C29) (C29, or the Company) is pleased to provide an overview of activities for the period ending 30 September 2024 (the “Quarter”, the “Reporting Period”) to accompany the Appendix 5b.

Keep reading...Show less
Hands putting puzzle pieces together.

Joint Ventures, M&A Ramp Up in Critical Minerals Space

With strategic partnerships such as joint ventures (JVs) and mergers and acquisitions (M&A) on the rise in the mining industry, companies involved in the critical minerals space are getting busy both in the field and the boardroom.

Taking underground deposits from discovery to production takes many years and serious investment. Amid the critical minerals race, partnerships enable a faster path to market, as they allow companies to share resources and expertise in their quest to help firm up supply chains to meet rising global demand.

Understanding these partnerships and how they de-risk early stage project development can help investors interested in this space make the best choices.

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

×