GTI Energy Ltd (ASX:GTR, OTC:GTRIF) has wrapped up 2024 resource development drilling at the Lo Herma In-Situ Recovery (ISR) uranium project in Wyoming's Powder River Basin.
Deeper uranium mineralisation
A total of 73 drill holes, including seven new ones, have now been drilled, with the latest round revealing deeper uranium mineralisation at higher grades within the upper Fort Union Formation.
Key results from the recent drilling include a high-grade intersection of 1 metre (3.5 feet) at 0.185% (1,850 parts per million) eU3O8 from drill hole LH-24-071.
Another highlight comes from drill hole LH-24-069, which reported multiple mineralised intervals, including 2 metres (6.5 feet) at 0.074% eU3O8, for a total grade-thickness (GT) of 1.092 across five sand units.
The GT is a critical metric in ISR uranium projects, as it reflects both grade and thickness of mineralisation.
Thus far, GTI has completed 53,166 feet (16,205 metres) of drilling at Lo Herma, covering around 96% of its planned 76-hole program.
The company will conclude its hydrogeologic investigation drill holes and water monitoring wells in October 2024.
Lo Herma geological setting – Wasatch and Fort Union formations.
Expansion of mineral resource
The drill program aims to expand and upgrade the project's inferred mineral resource while gathering data for an upcoming scoping study.
Following these results, GTI intends to update its mineral resource estimate (MRE) and exploration target for Lo Herma.
Lo Herma is conveniently situated near several permitted ISR uranium production facilities in Wyoming, which has a rich history of uranium production since the 1970s.
GTI director and CEO Bruce Lane said: “We are delighted that these results confirm excellent grades across good thicknesses in multiple stacked sands of the Fort Union formation.
Optimistic
“We remain very optimistic that additional pounds from this eastern part of Lo Herma can be bought into resource.
“This year’s drilling has successfully confirmed that stacked sand units of both the lower Wasatch and upper Fort Union contain reliable continuity of mineralisation across extended areas of the project.
“The 2024 resource drilling is now completed with hydrogeologic and water monitoring wells to be completed in October.
“Following completion of that work, we plan to update the mineral resource estimate and exploration target for Lo Herma by year end.”
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