GTI Energy's Strategic Developments at Lo Herma Project and Emissions Reporting
GTR (GTR) Share Update November 2024 Tuesday 12th
GTI Energy Provides Key Updates on Lo Herma Project Expansion
GTI Energy Ltd (ASX: GTR) has released significant updates regarding its Lo Herma ISR uranium project in Wyoming, alongside changes in its emissions reporting strategy.
Instant Summary:
- Mineral Resource Estimate and Exploration Target updates due by late 2024.
- Lo Herma project footprint expanded by 300 acres with further expansion planned.
- Drill core samples submitted for chemical assay and metallurgical testing.
- Completion of hydrogeological holes expected in December.
- Withdrawal from Climate Active program effective October 2024.
Project Expansion and Resource Estimates
GTI Energy Ltd has announced that its anticipated Mineral Resource Estimate (MRE) and Exploration Target (ET) updates for the Lo Herma ISR uranium project are on track for completion by the end of 2024. This update will help the company decide on the commencement of an Interim Scoping Study for the project.
The company has successfully completed the first phase of a staking program to expand its Lo Herma project. This expansion has increased the project's footprint by 300 acres to the north of Section 4, with an additional 143 acres expected to be added to the south by December. This expansion is projected to extend the mineralized trends at Lo Herma by approximately 1 mile.
Metallurgical Testing and Drilling
GTI Energy has prepared drill core samples from Lo Herma for chemical assay and metallurgical testing. These samples have been submitted to the lab, and results are anticipated in early 2025. The testing will include a comparison of chemical assays to gamma probe field assays.
The company plans to complete the final phase of its 2024 drilling campaign in December, which includes the construction of three hydrogeologic and water monitoring wells. However, GTI has decided to defer drilling at its Green Mountain project, with further investment considerations postponed to 2025.
Emissions Reporting Strategy
GTI Energy has been actively tracking and offsetting its Greenhouse Gas (GHG) emissions under the Australian Government's Climate Active Program for the past three years. Despite this commitment to sustainability, the company has decided to withdraw from the Climate Active program as of October 2024. The final emissions report for the year ending December 2023 will be published soon, marking GTI's last disclosure under this program.
The expansion of the Lo Herma project is a positive development for GTI Energy, potentially increasing its resource base and enhancing future project viability. The forthcoming MRE and ET updates could provide a clearer picture of the project's potential, influencing investor sentiment positively.
However, the decision to withdraw from the Climate Active program might raise concerns among environmentally conscious investors, although the company continues to emphasize its commitment to sustainability.
Investor Reaction:
Analysts are likely to view the project expansion and resource estimate updates favorably, as they indicate progress and potential growth. The withdrawal from the Climate Active program may prompt mixed reactions, with some investors questioning the company's long-term sustainability strategy.
Conclusion:
Investors should keep an eye on the upcoming MRE and ET updates for the Lo Herma project, as these will be crucial in assessing GTI Energy's future prospects. The company's strategic decisions on emissions reporting and project expansion will play a significant role in shaping investor confidence.