GTI Energy (ASX:GTI) has declared an initial inferred Mineral Resource Estimate (MRE) at its Lo Herma Project located in Wyoming’s ‘prolific’ Powder River Basin uranium production district.
The MRE assumes mining by in-situ Recovery (ISR) methods and is reported at a cut-off grade of 200ppm U3O8 and a minimum grade thickness of 0.2 per mineralised horizon as 4.12 million tonnes of mineralisation at an average grade of 630 ppm U3O8 for 5.71 million pounds (Mlbs) of U3O8 contained metal.
In addition, the initial Lo Herma exploration target range is updated & increased since it was reported to ASX on 05 March 2023. The updated exploration target range for the Lo Herma Project is between 5.3 to 6.7 million additional tonnes at a grade range of between 500ppm to 700ppm U3O8 containing an estimated 5.9 to 10.3 million pounds of U3O8.
The $11.68 million market capitalisation company reports the potential quantity and grade of the exploration target is conceptual in nature and there has been insufficient exploration to estimate a JORC-compliant MRE. It is uncertain if further exploration will result in the estimation of a mineral resource in the defined exploration target areas.
The Lo Herma ISR Uranium Project (Lo Herma) is located in Converse County, Powder River Basin, Wyoming. The project lies some 15 miles north of the town of Glenrock and within 60 miles of 5 permitted ISR uranium production facilities. These facilities include UEC’s Willow Creek (Irigaray & Christensen Ranch) & Reno Creek ISR plants, Cameco’s Smith Ranch-Highland ISR facilities and Energy Fuels Nichols Ranch ISR plant.
GTI Executive Director Bruce Lane says the company’s immediate goal is to integrate the results of its ariel geophysics survey into the exploration targeting model and to secure approvals for a drilling program timed for late 2023 or H2 2024.
Drilling will aim to verify, upgrade, and extend the resource. Lane notes that as highlighted by the exploration target, there appears to be material potential to increase the resource along trend but also possibly at depth within the highly productive Fort Union formation.
“We are very pleased to declare an initial JORC inferred U3O8 mineral resource estimate with an updated exploration target at Lo Herma in the Powder River Basin. The reported estimates are based solely on significant historical drilling information.
“The reported estimates are based solely on significant historical drilling information”
This initial MRE highlights the exciting potential at Lo Herma with an initial inferred resource of 5.7Mlbs at average grade of 630 ppm. The exploration target for the project has also been updated with an additional 5.87 to 10.26 Mlbs potential at average grade of 500 – 700ppm.
This initial resource validates our belief that Lo Herma, which is located within 60 miles of ISR production plants owned by Cameco, UEC & Energy Fuels, holds real potential to become a producing deposit.”
As announced on 14 March 2023, a comprehensive historical data package, with an estimated replacement value of $15m, was purchased for the Lo Herma project in March of 2023. The data package includes original drill data for roughly 1,771 drill holes pertaining to the Lo Herma region. The original drill data has been used to prepare an inferred mineral resource estimate for the Lo Herma Project using the original exploration results.
The Lo Herma Project area was originally explored in the 1970s and 1980s by Pioneer Nuclear along with joint venture partners. GTI acquired a comprehensive data package of original Pioneer Nuclear drilling data, including data for about 1,771 drill holes.
About 1,391 original drillhole logs were digitised for gamma count per second (CPS) data and converted to eU3O8% grades. Some 845 of the drill holes were located on GTI’s current land position and used in the preparation of the MRE.
Write to Adam Orlando at Mining.com.au
Images: GTI Energy Ltd
