Lo Herma Uranium Project On Track For Q2 JORC Resource

GTI Energy Ltd (ASX: GTR) (GTI or Company) is pleased to provide an update on its 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 or Project) (Figure 1).

Highlights:

• Historical drill logs scanned & being digitised prior to resource modelling & verification
• Historical drill maps digitised and verified to within 20 feet – field verification planned
• Airborne Geophysics scheduled for May
• Permitting preparation underway for drilling at Lo Herma during H2 2023
• Verification drilling will also gather ground water data & target extensions of the known and interpreted mineralisation along trend and at depth
• Lo Herma JORC resource report on track for end of Q2
• Non-renounceable rights issue closes Friday, 21 April

As reported to ASX on 14th March 2023, a comprehensive historical data package, with an estimated replacement value of ~$15m, was acquired for Lo Herma. The data package includes original drill logs for roughly 1,445 drill holes pertaining to the Project area. Digitisation of the original drill data is in progress to develop a database suitable for preparation of a mineral resource estimate in accordance with the JORC code 2012.

GTI has now grown the Project area by 33% to 12,000 acres, staking of 4,000 additional acres to capture a greater extent of interpreted mineral trends & historical drilling (ASX 5 April 2023).

In addition to the initial Exploration Target that was advised to ASX on 5th April 2023, (Table 1) the Company is making good progress towards its goal of reporting an initial Inferred Mineral Resource Estimate at the Project – a description of these activities is provided overleaf.

The Exploration Target for Lo Herma is estimated in the range 7.3 to 9.0 million tonnes at a grade range of 500 ppm to 700 ppm U₃O₈ containing an estimated 8.1 to 13.9 million pounds of U₃O₈.

The potential quantity and grade of the Exploration Target 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.

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.