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GTI Secures Significant New Uranium Project In Wyoming, 10 Miles From Cameco’s Smith Ranch-Highland ISR Uranium Facility
GTI Energy Ltd (GTI or Company) is pleased to advise that it has secured unpatented mineral lode claims covering circa 8,000 acres (~3,500 hectares), known as the Lo Herma Project, in Wyoming’s prolific Powder River Basin uranium district (Figures 1 & 2) (Lo Herma Project).
- Significant mineral claims secured via staking of ~8,000 acres in Wyoming’s prolific Powder River Basin, ISR uranium district
- Claims located within 10 miles of Cameco’s Smith Ranch-Highland ISR uranium production plant – the largest production site in Wyoming
- Located in proximity to 5 permitted ISR uranium production facilities & several satellite uranium deposits, all within ~50 miles
- Cameco’s president and CEO said demand for nuclear power is driving the “best fundamentals ever seen” for the nuclear fuel market1
LO HERMA PROJECT – LOCATION & BACKGROUND
The Lo Herma Project (Lo Herma or Project) is located in Converse County, Powder River Basin (PRB), Wyoming. The project lies approximately 15 miles north of the town of Glenrock (WY) and within ~50 miles of five (5) permitted ISR 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 1). The Powder River Basin has an extensive ISR uranium production history and has been the backbone of Wyoming uranium production since the 1970s. Cameco’s Smith Ranch-Hyland operation has been the largest uranium production contributor, by a significant margin, in recent times (Figure 2).
GTI is expanding and diversifying its Wyoming uranium asset portfolio at a time when demand for nuclear power is driving the “best fundamentals ever seen” for the nuclear fuel market, according to Tim Gitzel, Cameco’s president and CEO1.
GTI Executive Director Bruce Lane commented“We are extremely excited about the potential of the newly staked Lo Herma property in Wyoming’s Powder River Basin. The project is located in Wyoming’s most prolific production district within 10 miles of Wyoming’s largest ISR uranium production site at Cameco’s Smith Ranch-Highland. We believe that Lo Herma has the potential to become a significant asset for GTI as we continue to build and diversify our Wyoming uranium portfolio.”
FIGURE 1. GTI’S LO HERMA PROJECT LOCATION, POWDER RIVER BASIN, WYOMING
FIGURE 3. LO HERMA URANIUM PROJECT LOCATION, CONVERSE COUNTY, WYOMING
NEW CLAIMS SECURED AT THOR
GTI has successfully staked additional Lode Claims covering ~250 acres at the Thor project in the Great Divide Basin. The new claims abut the eastern section of the existing Thor claims & south of Thor’s state sections (Figure 3). The new claims are positioned on well mineralised trends identified during GTI’s drilling campaigns and are expected to allow GTI to extend the existing interpreted trend lengths into the new claim area.
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