GTI Energy

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).


Highlights

  • 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.


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 Advances Through Completeness Check for the Final Federal Environmental Assessment Process

NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce that on June 21, 2024 the Canadian Nuclear Safety Commission (" CNSC ") concluded their 30-day completeness check of NexGen's May 21, 2024 submission of responses to the remaining 49 technical review comments and revised Federal Environmental Impact Statement (" EIS ") for NexGen's 100% owned Rook I Project (" Rook I " or the " Project ").

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

The technical review by the CNSC has now commenced through the Federal-Indigenous Review Team, and upon confirmation that all technical review comments have been resolved after its prescribed 60-day review, the CNSC will then be able to deem the EIS final. When the EIS is deemed final, the CNSC will establish the Federal Commission Hearing date.

Leigh Curyer, NexGen's Chief Executive Officer, commented: "The Company continues to successfully advance through the Federal EA process which formally initiated in April 2019 . We look forward to the conclusion of the technical review process, for the Federal EIS to be deemed final, and the establishment of a Federal Commission Hearing date for the Rook I Project in order to deliver the significant generational benefits to the local Indigenous Nations, communities, the Province and Canada .

With the acceptance of the Federal licence application and receipt of Provincial EA approval in September and November 2023 , respectively – and broad-based support and advocacy from our valued stakeholders and local Indigenous Nation partners and communities – the team is ready to immediately commence major construction of this generational project upon receipt of remaining approvals. The detailed engineering and procurement activities continue along the critical path as do the significant local training programs underway for the future staffing requirements. Rook I represents a crucial clean fuel source that is fully in line with Government of Canada's critical minerals strategy and desire to be a leader in the provision of clean energy solutions including nuclear power and NexGen will be instrumental in global efforts to bring diversified, reliable, carbon-free energy to the world."

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 .

Cautionary Note to U.S. Investors

This news release includes Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and the Mineral Resources estimates are made in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the Securities and Exchange Commission (" SEC ") set by the SEC's rules that are applicable to domestic United States reporting companies. Consequently, Mineral Reserves and Mineral Resources information included in this news release is not comparable to similar information that would generally be disclosed by domestic U.S. reporting companies subject to the reporting and disclosure requirements of the SEC Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.

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 material 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.com 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-advances-through-completeness-check-for-the-final-federal-environmental-assessment-process-302179503.html

SOURCE NexGen Energy Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2024/24/c7705.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Gladiator Resources Limited

Drilling Update for Mkuju Project

Gladiator Resources Ltd (ASX: GLA) (Gladiator or the Company) is pleased to announce that drilling at the Mkuju Project is progressing well. Highly mineralized intervals are observed in the core close to surface in 2 holes of the 4 completed. After the 5th hole the rig will commence drilling at the nearby Mtonya area to follow-up on the excellent historical intersections along the northwest side of the deposit which appears to be ‘open’. At the Likuyu North deposit, a 370 line-km ground magnetic survey is nearing completion – the data will guide the drill targeting aimed at identifying potential extensions or new zones.

Keep reading...Show less
Uranium ore and crystals with Orano logo.

Top Stories This Week: Uranium’s East/West Divide Heats Up, Central Banks Eye Gold

The gold price rose as high as US$2,366 per ounce on Thursday (June 20), but had fallen back to the US$2,325 level by Friday (June 21) morning, looking set to end the week relatively flat.

Its price increase came as US jobless claims fell by 5,000 to reach 238,000 in the week ended June 15; meanwhile, single-family housing starts fell by 5.2 percent in May. The data has boosted interest rate cut expectations for the fall.

Central bank buying has provided major support for the gold price in recent months and years, and a new survey from the World Gold Council (WGC) indicates that 29 percent of the 70 central banks that responded intend to increase their gold reserves in the next 12 months — that's the highest level seen since the survey began in 2018.

Keep reading...Show less
Argentina flag.

Blue Sky Uranium Acquires New Projects in Argentina

Blue Sky Uranium (TSXV:BSK,OTCQB:BKUCF) announced on Monday (June 17) that it is expanding its exploration portfolio by acquiring two new projects that are prospective for uranium in Argentina's Neuquén Basin.

The company's cornerstone asset is the Amarillo Grande project (AGP), where work continues to progress.

“Within our flagship AGP we have the Ivana deposit moving into the pre-feasibility stage, and multiple established exploration targets that are ready for the next steps,” said CEO and President Nikolaos Cacos in a press release.

Keep reading...Show less

Laramide Commences 2024 Australian Drilling Campaign

  • Up to 12,000 meters planned across multiple targets within the Westmoreland Conglomerate that crosses Queensland and the Northern Territory
  • Primary aim is to expand existing Westmoreland mineral resource and to enhance the project economics
  • Second drill rig arriving in mid-July
  • Maiden resource estimate planned at Long Pocket for year-end
  • Northern Territory Geological Survey awards two exploration grants

Laramide Resources Ltd. ("Laramide" or the "Company") (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce that the 2024 drilling campaign has started at the Westmoreland Project in Northwest Queensland . The 2024 work plans include up to 12,000m with over 100 drillholes, designed to test multiple targets across the Westmoreland Uranium Project in NW Queensland and into the Murphy Uranium Project in the Northern Territory.

"We are excited to see drilling underway at Westmoreland after a prolonged wet season," says Laramide's President and CEO Marc Henderson .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
GTI Energy

Placement to Fund July Resource Drilling at Lo Herma ISR Uranium Project Rights Entitlement Offer Planned on Same Terms as Placement

GTI Energy Ltd (GTI or Company) is pleased to advise it has received firm commitments to raise A$2,250,000 via the issue of 500,000,000 new shares at A$0.0045 per share (Placement) together with one (1) free attaching option for every three (3) Placement Shares subscribed for (Placement Options).

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

×