GTI Energy Ltd (ASX:GTR, OTC:GTRIF) has completed an initial drilling program at its 100%-owned Lo Herma ISR Uranium Project in Wyoming’s prolific Powder River Basin, verifying the historical data used to prepare the mineral resource and confirming the project’s exploration potential with a view to an expanded drilling program next year.
The program involved a total of 26 drill holes, totalling 4,250 metres of drilling, with operations finalised on December 11, 2023.
This program successfully validated the historical data package that was used in preparing the mineral resource estimate (MRE) for Lo Herma, through comparative analysis of stratigraphy and mineralised intercepts from new drill holes collocated with historical drill holes.
Additional drill hole locations tested extensions of known mineralised trends and informed on redox conditions across several host sands to help refine and develop an expanded drill program planned at Lo Herma for 2024.
"Exploration potential confirmed"
GTI executive director and CEO Bruce Lane said: “We are very pleased that initial drilling has successfully verified the large body of historical data used to prepare the Lo Herma JORC inferred resource.
“In addition, the drilling confirmed exploration potential along trend in the Wasatch formation and at depth in the Fort Union formation. The program was completed on time & budget with the data generated to be used to refine follow-up drilling in 2024.
“The drilling in 2024 is expected to upgrade the category of portions of the mineral resource and ultimately support a preliminary economic assessment for the project.”
Additional claims staked
The Lo Herma land package was also expanded through the staking of 28 additional claims in December to cover extensions of interpreted trends, as defined by the acquired historical data package.
This historical data package includes several drill holes within the 28 new claims which contain mineralisation in a deeper Fort Union formation host sand.
GTI is currently evaluating how the new claims and data impact the exploration target for the property and 2024 drill plans.
Lo Herma ISR Uranium Project including new claims
Looking ahead
A total of 42 drill holes remain permitted and undrilled at Lo Herma, providing a set path to return to the field for further drill testing in 2024.
GTI says that the permitted drill program will be refined and may be augmented and expanded prior to execution next year.
The near-term exploration effort at Lo Herma will be focused on expanding the resource areas and upgrading the current mineral resource classification.
Collection of important data including groundwater aquifer conditions and collection of rock core samples for metallurgical testing will be also prioritised in the near-term exploration efforts.
GTI is developing a detailed 2024 exploration plan at Lo Herma and this plan will be integrated into the broader exploration program for all of GTI’s Wyoming projects.
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