GTI Energy's Latest Drilling Confirms Deeper Uranium Trends at Lo Herma
GTR (GTR) Share Update September 2024 Wednesday 18th
GTI Energy Confirms Deeper Uranium Mineralization at Lo Herma Project
GTI Energy Ltd (ASX: GTR) has announced the completion of its 2024 drilling program at the Lo Herma ISR Uranium Project, revealing deeper uranium mineralization with significant grades.
Instant Summary:
- 73 resource development drill holes completed in 2024 at Lo Herma.
- Deeper uranium mineralization confirmed in the upper Fort Union Formation.
- Best intercepts include 3.5ft at 0.185% eU3O8 and 6.5ft at 0.074% eU3O8.
- Best total hole GT of 1.092 over 23.5ft in 5 stacked sand units.
- Completion of hydrogeologic focused drill holes and water monitoring wells expected in October.
Drilling Completion and Results
GTI Energy Ltd (GTI) has successfully completed its 2024 drilling program at the Lo Herma ISR Uranium Project in Wyoming's Powder River Basin. A total of 73 resource development drill holes were completed, covering 16,205 meters of drilling. The company focused on deeper uranium mineralization within the upper Fort Union Formation.
Among the notable results, drill hole LH-24-071 returned the highest-grade intercept with 3.5 feet at 0.185% eU3O8. Another significant intercept was found in hole LH-24-069, which included 6.5 feet at 0.074% eU3O8. The best total hole grade thickness (GT) was 1.092 over 23.5 feet in 5 stacked sand units.
Significance of Findings
These results confirm the presence of deeper uranium mineralization at elevated grades, presenting significant upside potential for the Lo Herma project. The drilling program has demonstrated reliable continuity of mineralization across extended areas of both the lower Wasatch and upper Fort Union formations.
GTI Director & CEO Bruce Lane expressed optimism about the additional pounds of uranium that could be added to the resource from the eastern part of Lo Herma. The company plans to update the Mineral Resource Estimate and Exploration Target for Lo Herma by the end of the year.
Future Plans
GTI will resume drilling operations in mid-October 2024 to complete several hydrogeologic investigation drill holes, including the installation of monitoring wells. The completion of this work will pave the way for an updated Mineral Resource Estimate and Exploration Target for Lo Herma.
The project is located in Converse County, Wyoming, and is close to several permitted ISR uranium production facilities. The Powder River Basin has a rich history of ISR uranium production, making it a strategic location for GTI's operations.
The confirmation of deeper uranium mineralization at Lo Herma is a positive development for GTI Energy. It enhances the project's resource potential and could lead to an increase in the company's stock value as investors recognize the upside potential. The successful completion of the drilling program also demonstrates GTI's ability to execute its exploration plans effectively.
Investor Reaction:
Analysts are likely to view the deeper mineralization findings positively, as they indicate significant resource potential. However, the market's reaction will depend on the final Mineral Resource Estimate and Exploration Target updates expected by year-end. Investors may adopt a wait-and-see approach until these updates are released.
Conclusion:
Investors should keep an eye on GTI Energy's upcoming updates to the Mineral Resource Estimate and Exploration Target for Lo Herma. The company's strategic response to these findings will be crucial in maintaining and potentially boosting investor confidence. Subscribing to updates and monitoring the company's progress will be essential for making informed investment decisions.