GTI Energy

Uranium Exploration Update And Carbon Neutral Certification

GTI Energy Ltd (ASX: GTR) (GTI or Company) provides the following activities update.


  • Drilling permitting at the Lo Herma ISR uranium project is on track with BLM approval & bonds confirmed. Wyoming state approval expected mid-October
  • Lo Herma drilling anticipated to commence during November
  • Lo Herma current Inferred Mineral Resource is 5.71 Mlbs U3O8 at average grade 630ppm. GTI’s combined Wyoming Inferred Mineral Resources 7.37 Mlbs U3O8
  • Lo Herma is ~10miles from the US’s largest ISR U3O8 production plant at Cameco’s Smith Ranch-Hyland & ~60 miles from UEC’s Irigaray & Energy Fuels’ Reno Creek.
  • Processing of magnetic & VLF geophysical data has been completed for Lo Herma, Green Mountain & Loki West with radiometric data processing nearing completion
  • Carbon Neutral certification achieved under the Climate Active standard
  • GTI is the 1st ASX listed uranium company to achieve carbon neutral certification
LO HERMA DRILL PERMITTING

Drill permitting is on track for GTI’s Lo Herma ISR uranium project located in Wyoming’s Powder River Basin (Figure 1). US Federal Bureau of Land Management (BLM) approval has been received for drilling and drilling bonds have been confirmed for a 26-hole (circa 15,000 feet) mud rotary drill program. Drilling depth is expected to average 500 feet with a maximum depth of 1,500 feet. The drill program will include a number of both historical drill data verification and exploration holes along trend and at depth. Final Wyoming state approval for the drill program is expected by mid-October and the Company remains hopeful that drilling can commence during November.

TABLE 1: SUMMARY OF INFERRED MRE & EXPLORATION TARGETS (Refer ASX Release 05/07/2023)

The potential quantity and grade of the Exploration Targets 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.

AERIAL GEOPHYSICS - FINAL PROCESSING

Processing has been completed for the magnetic & very low frequency electromagnetic (VLF) data collected from the aerial surveys at the Lo Herma, Green Mountain and Loki West ISR uranium exploration projects. Radiometric data processing is underway and is nearing completion. The Company will provide results once the final data and the report are received.

The aerial geophysical survey was conducted using a twin-engine aircraft loaded with a suite of sensors that provide detailed radiometric, magnetic and VLF 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.

FIGURE 1. LO HERMA PROJECT LOCATION, POWDER RIVER BASIN, WYOMING

CLIMATE ACTIVE CARBON NEUTRAL CERTIFICATION

GTI is pleased to confirm that it has achieved carbon neutrality, across both its Australian head office and US field operations, through the Australian Government’s Climate Active Program. Climate Active is an ongoing partnership between the Australian Government and Australian businesses to drive voluntary climate action. Climate Active Carbon Neutral Certification is widely regarded as the most stringent and transparent carbon neutral standard in Australia and is based on the foundations of best practice and internationally recognised standards in carbon accounting and emissions reduction. Throughout the process of applying for Climate Active certification for Organisations, GTI undertook measures to quantify its carbon footprint, to monitor and reduce emissions going forward, and compensate for the remainder by investing in carbon offset projects to fully neutralise the carbon emissions produced by the organisation. GTI has taken these steps in line with its ESG strategy amid growing expectation that resource companies commit to actively reducing or offsetting emissions. The Company regards Climate Active Certification as an important step in an ongoing effort to meet stakeholder expectations with regards to management of the environments and surroundings in which GTI operates.

GTI Energy Executive Director Bruce Lane said. “GTI is focused on “clean mining, clean energy and a clean future”, so achieving carbon neutral certification is aligned to our objectives & values and is key to our ESG strategy. We believe strongly that nuclear power & uranium are critical to achieving an energy future with reduced carbon emissions. GTI has discovered uranium in Wyoming that is amenable to insitu recovery (ISR) mining. ISR is the cleanest and lowest impact form of uranium mining and through development of our projects we aim to contribute to the clean energy transition.”


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
  Boss Energy

Production Starts at Alta Mesa Uranium Project, Texas

Key milestone comes just eight weeks after production started at Boss’ Honeymoon project in South Australia; Boss on track to become a ~3Mlbs-a-year producer

Boss Energy Limited (ASX: BOE; OTCQX: BQSSF) is pleased to advise that production has started at its 30 per cent- owned Alta Mesa In-Situ Recovery (“ISR”) Central Processing Uranium Plant and Wellfields (“Alta Mesa Project”) in South Texas.

Keep reading...Show less
Growing graph and nuclear power station cooling tower.

When Will Uranium Prices Go Up? (Updated 2024)

Uranium is an important fuel source for the nuclear energy industry, but many investors were shaken out of the market after many years of low uranium prices. Now that a rebound is underway, many wonder if the commodity will once again reach its peak.

Driven by rising demand and massive supply disruptions, uranium prices shot up in 2007 from US$72 per pound at the start of the year to an all-time high of US$136.22 by early June. However, uranium prices didn’t last long above US$100 per pound, and the market value of the energy fuel was in the doldrums for more than a decade.

Prices began to climb again in 2021, and picked up speed in 2023. This rally led the uranium spot price to hit a major milestone in January 2024 when it broke through the US$100 per pound level for the first time in 17 years. This recent rally was sparked by a confluence of global and market events, including the Russia-Ukraine war and uranium supply challenges related to conversion and enrichment.

The drive for nuclear energy to be a part of the fight to combat climate change is also having an oversized impact on the uranium price outlook as governments look to nuclear as a carbon-free energy source. Even Sweden is considering lifting its ban on uranium mining in an effort to support growth in it own nuclear power industry, for which it currently imports nuclear fuel. "Sweden currently uses 2.4 million pounds U3O8 annually in its three nuclear power plants and has committed to building two additional nuclear reactors by 2035," World Nuclear News reported.

Keep reading...Show less
Gladiator Resources Limited

Drilling Commences at Mkuju Uranium Project

Gladiator Resources Ltd (ASX: GLA) (Gladiator or the Company) is excited to announce that diamond core drilling commenced on 10 June 2024, at our 100% owned Mkuju Uranium Project in southern Tanzania.

Keep reading...Show less
GTI Energy (ASX:GTR)

GTI Board Appoints Ex-Head of Cameco Australia, Simon Williamson

GTI Energy Ltd (GTI or Company) is delighted to advise of the appointment of Mr Simon Williamson to the board of GTI as Non-Executive Director.

Hightlights

Keep reading...Show less

Denison Announces Completion of Inaugural ISR Field Test Program at Midwest

Denison 70 Logo (CNW Group/Denison Mines Corp.)

Denison Mines Corp. ("Denison") (TSX: DML) (NYSE American: DNN) is pleased to announce it has completed the inaugural In-Situ Recovery ("ISR") field test program (the "Program") at Denison's 25.17% owned Midwest Uranium Project ("Midwest").  The Program involved drilling 10 small diameter boreholes within the Midwest Main deposit primarily undertaken to evaluate site-specific conditions for ISR mining. A series of tests were successfully performed on each borehole, creating an extensive database of geological, hydrogeological, geotechnical, and metallurgical data and validating certain key assumptions in the previously completed internal conceptual mining study (the "Concept Study") evaluating the potential use of ISR mining at Midwest (see Press Release dated April 12, 2023 ). View PDF

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Ben Finegold, nuclear reactors.

Ben Finegold: Uranium's New Paradigm — Market Dynamics and How to Invest

Speaking to the Investing News Network, Ben Finegold, director at Ocean Wall, shared his latest thoughts on uranium, covering supply and demand dynamics and his outlook for prices in 2024 and beyond.

In his view, the market has only reached its third inning, meaning the story is nowhere near over. While investors will need to be more selective, Finegold remains bullish on the uranium spot price and sees uranium stock opportunities too.

"You've got the supply side as fragile as it is, and you've got demand really starting to kick into gear over the next decade. And then you can throw (small modular reactors) into that story, you can throw ... all these bells and whistles on top. And you start to realize that it is a unique, quality story versus anything else," Finegold said during the interview.

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

×