GTI Energy (ASX:GTR) has completed two of the three planned groundwatering monitoring wells at the Lo Herma In-Situ Recovery Uranium Project in Wyoming, US.
The groundwater monitoring holes will facilitate testing of the hydraulic parameters within the subterranean aquifers containing the Lo Herma ore body, to confirm suitability for ISR mining.
Subject to weather conditions, GTI Energy expects this phase of drilling to be completed in the coming weeks, with the drilling of the third well underway.
The results of aquifer hydrology testing, along with soon to be finalised metallurgical test results, are important inputs into the Lo Herma Scoping Study, which is in progress.
GTI has also secured staking rights for 23 additional claims, covering 443 acres, to extend the Lo Herma Project area along projected mineralised trends.
The company’s board of directors has also resolved that performance milestones have been met, following Lo Herma’s resource upgrade conducted in December 2024.
As such, 75% of performance rights class c and 50% of class d on issue have been vested and can be exercised.
Following today’s announcement, GTI’s share price increased 16.66% to $0.003 as of 10.45am AEDT.
The Lo Herma Project has a resource of 6.21 million tonnes @ 630 parts per million uranium-equivalent for 8.57 million pounds of contained metal.
GTI Energy is focused on defining and developing economic ISR uranium resources.
Write to Aaliyah Rogan at Mining.com.au
Images: GTI Energy
