With permits and bonds in place, GTI Energy Ltd (ASX:GTR, OTC:GTRIF) is ready to kick off drilling in mid-November at the Lo Herma ISR Uranium Project in Wyoming’s Powder River Basin.
The company’s initial program will comprise up to 26 holes across 4,600 metres of mud rotary drilling and downhole gamma logging.
Drilling will also target exploration potential along trend in the Wasatch Formation and in the deeper Fort Union Formation from which Cameco produces.
Lo Herma is 10 miles from the US’s largest ISR uranium production plant at Cameco’s Smith Ranch-Hyland and about 60 miles from UEC’s Irigaray and Energy Fuels’ Nichols Ranch.
Potentially extending resource
GTI executive director and CEO Bruce Lane said: “We are delighted to be heading back into the field for our maiden drill program at Lo Herma.
“This campaign is designed to verify the large body of historical data used to prepare the Lo Herma JORC inferred resource whilst upgrading and potentially extending that resource.
“Our near-term objective is to build sufficient data from this drilling & and a follow-up campaign in 2024, to support a preliminary economic assessment for the project.“
Wyoming's uranium processing plants and GTI project locations.
Drilling permits
The initial drilling program is a 26-hole campaign to both confirm a subset of historical drill holes as well as explore untested locations and depths.
Drilling is expected to average 500 feet with a maximum potential depth of 1,500 feet.
Commencement of drilling operations is anticipated to kick off in mid-November pending contractor schedules and weather conditions.
This initial program is part of a larger permitted campaign totalling 68 holes with the balance of the campaign to be refined & and assessed for execution during 2024 subject to results.
New strategic claim staking
GTI has secured an area of 28 additional Lode Claims at Lo Herma.
The ground is contiguous with the main claim block at Lo Herma.
The potential of this area came to GTI’s attention through further review of the historical drill data package, indicating that this ground is highly prospective for mineralization in deeper sands within the Fort Union formation.
LO HERMA ISR Uranium Project details
Geophysical surveys
Final results from the recent aerial radiometric and magnetic surveys have been received, providing valuable geophysical data for Lo Herma, Green Mountain and Loki West.
At Lo Herma, the radiometric map confirmed our exploration hypothesis and assisted with the characterization of mineralized REDOX trends, previously projected across the property.
The suite of aerial geophysical survey products will be invaluable in planning future exploration.
Read more on Proactive Investors AU
