GTI Energy Ltd (ASX:GTR, OTC:GTRIF) has had a positive start to drilling at the 100%-owned Lo Herma ISR Uranium Project in Wyoming’s prolific Powder River Basin with mineralisation intersected meeting expectations for economic ISR mining methods.
The first 10 drill holes of a 76-hole campaign were completed for 1,908 metres (6,260 feet) in the first three days of drilling with eight holes intercepting on-trend mineralisation.
Best results
Best mineralised intercepts include 14.5ft at 0.0640% (640ppm) eU308 in drill hole LH-24-002 and 16.5 ft at 0.054% (540ppm) eU308 in drill hole LH-24-001.
These holes returned thick mineralised intercepts in excess of 4.2 metres (14 feet), averaging 1.02GT for total hole intercepts, well in excess of typical economically viable ISR grade and grade-thickness (GT) cut-offs of 0.02% (200ppm) U3O8 and 0.2GT.
The drilling campaign is progressing on schedule with the contractor averaging in excess of 610 metres (2,000 feet) of drilling per day.
“Really pleased”
GTI executive director and CEO Bruce Lane said “We are really pleased to be underway with drilling at Lo Herma and early results are very encouraging from the first drill holes.
“It is really pleasing to see holes with such good thick intercepts and strong grade thickness results of around 1.0GT, well above our cut off of 0.2GT.
“Drilling is currently tracking ahead of schedule, and we will provide further updates in the coming weeks as the program progresses.”
Uranium processing plants and GT Energy project locations in Wyoming.
About the drilling
A total of 76 drill holes are permitted and planned for GTI Energy’s 2024 drill program, which is designed to expand the mineral resource, upgrade the classification of the inferred resource and collect additional geochemical and hydrogeologic data necessary to advance a potential scoping study for the project.
Apart from the two holes that exceeded the minimum grade cut-off and the total hole GT, one drill hole exceeded the minimum cut-off but not the minimum GT.
Five holes demonstrated trace mineralisation but did not meet the grade cut-off while two holes were barren of any indication of mineralisation.
All holes were beneficial in determining the lateral geometry of the sinuous roll front-type uranium deposits present at the Lo Herma project across multiple sandstone units.