GTI Energy (ASX:GTR) is on track to deliver an updated resource and exploration target for its Lo Herma Uranium Project in Wyoming in late 2024.
This will pave the way for a decision on starting an interim Scoping Study.
Meanwhile, the junior explorer – which has a market capitalisation of $11.8 million – has extended the Lo Herma Project’s footprint along trend with the completion of the first phase of a staking program.
The program increased the project by around 300 acres (1.2km2) to the north of Section 4.
GTI plans to increase Lo Herma to the south as well via phase two of the staking program, which will be completed in December. That is expected to add 143 acres to the company’s landholding at Lo Herma.
Overall, the staking program is expected to extend the mineralised trends at Lo Herma by around 1.6km.
Test work is also underway, with drill core samples from the Lo Herma Project now logged and split for chemical assay and metallurgical testing and submitted to the lab.
Once assays have been completed, composites will be prepared for metallurgical testing under alkaline leach conditions.
Analysis will also include a comparison of chemical assays to gamma probe field assays. Results are expected in early 2025.
GTI anticipates that the final phase of its 2024 drilling campaign will be completed in December with the construction of three hydrogeologic and water monitoring wells.
Separately, the company says it has decided to defer drilling at its Green Mountain project and will consider further investment in the project during 2025.
GTI has also decided to withdraw from the Australian Government’s Climate Active Program following three years of tracking and mitigating its greenhouse gas emissions.
The company’s annual emissions report for the year ending 31 December 2023 is due to be published imminently and will be the final Climate Active disclosure.
GTI says it remains committed to its focus on sustainability, including tracking and managing its greenhouse gas emissions going forward.
The Lo Herma Project is located in Wyoming’s Powder River Basin and is an in situ recovery (ISR) project, which will use injection wells that add oxygen and carbon dioxide creating a lixiviant solution.
Uranium dissolves into the solution and recovery wells pump the solution back to the surface to a processing facility.
Around 60% of global uranium is produced through ISR, which requires no tailings, has minimal dust and less water consumption.
This means operating costs are around two thirds of conventional mining.
Write to Angela East at Mining.com.au
Images: GTI Energy
